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Question & Answer


A

Aniruddha Dutta

14 May 2022

I filed form 26QB for submitting TDS on my underconstruction property in Bangalore. Form 26QB was filed on 31st Mar 2022. By mistake I entered 20th Jan 2022 (which should have been 20th Mar 2022) as the date of deduction and I was sent a notice to pay Rs6900 as penalty and interest for late deduction. I filed a correction online but the AO rejected it and is asking to attach support. I am not sure where to attach support. Need assistance from a CA

Replies (1)                          

CA K Narasimha Prakash       15 May 2022

If DSC is not registered you can send hardcopy of proof to hour jurisdiction Assessing officer. If you require further assistance call 7338838605

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M

Manu Ahuja

12 May 2022

If my net income is zero but if i receive interest do i need to pay tax on it?

Replies (1)                          

CA Roomi Gupta       13 May 2022

An individual is obligated to file an ITR if his gross taxable income( including interest) during a particular FY exceeds the maximum amount not chargeable to tax i.e Rs 250000/-
For more detail connect me @ www.tarunguptaca.com or 9216216819

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D

Dileep Kumar Dora

12 May 2022

I've e-verfied after 120 days, now the status showing as Condonation request is submitted for approval, in general, how many days it will take to approve/reject the request if rejected what are further steps to do.

Replies (1)                          

CA Roomi Gupta       13 May 2022

Your condonation request is forwarded for approval. This return will be invalid till approved”. Hence, in case the assessing officer reject the condonation request, return will be treated as invalid. Since the earlier return as been invalidated, it is advised to file the revised return. For more detail connect me @ www.tarunguptaca.com or 9216216819

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V

Vinayak

11 May 2022

Hello. I am software consultant. In the Financial Year 2021-22, I earned Rs 33 lakhs working for a US based company and got paid via wire transfer. I also earned Rs 16 Lakhs working for an Indian company. But due to ignorance, I did not register for GST last year. What can I do to rectify this ? Please help.

Replies (1)                          

CA Xavier Albuquerque       17 May 2022

You will need to register with GST as first action and then you need to mention the commencement date in registration. You wil get 20 lakhs as exemption, the amount above 20 lakhs you will have to pay GST.

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M

Manu Ahuja

11 May 2022

Hello, in crypto if i make 1000rs profit and 1000rs loss in the same financial year do i have to pay tax because the net earning here is 0 for the financial year.

No Reply