MY TURNOVER A.Y. 2025-26 RS. 23838491 AND PROFIT RS. 617457 TOTAL CASH PAYMENT EXCEEDING 5% OF TOTAL PAYMENT WHICH CLAUSE OF AUDIT APPLY TO ME Clause 44AB(a)- Total sales/turnover/gross receipts of business exceeding specified limits OR Clause 44AB(a)- Proviso where cash receipts and cash payments do not exceed the specified percentage of total transactions, but the turnover exceeds the specified limit I OPTED FOR 44AD DURING A.Y. 2023-24

Dear Experts,

One of our clients entered into a Joint Development Agreement (JDA) with a builder during FY 2022-23. As per Section 45(5A) of the Income-tax Act, the capital gains arising under a registered JDA are taxable in the year in which the completion certificate is issued. In this case, the completion certificate was issued in FY 2024-25. However, since the JDA was not registered, the benefit of Section 45(5A) may not be available. The capital gains were also not offered to tax in FY 2022-23, the year in which the agreement was executed.

We would like to seek your guidance on the appropriate course of action in such a situation. Should the capital gains be offered to tax in FY 2024-25, or would it be necessary to file an updated return for FY 2022-23. We look forward to your valuable inputs on this matter..

Additional depreciation @20% for plant & machinery acquired during the year is allowed for a company engaged in manufacturing activity. Please help how to include such additional depreciation in Clause18 of Form 3CD?

sir, after due approval, legal heir successfully filed ITR of her deceased husband giving savings bank account number of deceased which was inadvertantly already closed by them. It is quite imminent that said refund is going to be failure as no bank account exists. In such cases what course is available to legal heir to receive the due amount of refund. pl advice.
vijay kulkarni
solapur.

Sir,

Can I will submit pending tax return in old tax regime? Today

I have not filed my ITR for AY 2024–25. I have only salary income and interest income, so I am filing ITR-1 as an updated return under section 139(8A). My question is: Can I file it under the old tax regime?

What are the precautions to be taken to receive liquid cash of Rs. 22 lakhs from father? Is a gift deed required? Father took a loan from the bank to pay this amount to his son. He wants to give this to another person

Also, how much money one can carry with him.

Pls advise

I had filed Representative Assessee request yesterday for the fifth time, but it was rejected once again by Income Tax Department. I have submitted required documents i.e. PAN card of deceased, Aadhar card of all legal heirs, Letter issued by SBI stating particulars of nominee as valid proof of legal heirs certificate, death certificate.
why Income Tax department is rejecting my request again and again, and due to this, I am not able to file ITR. I have also submitted grievance yesterday, but I did not get response/ feedback from Income Tax Department.
Also, whenever I have tried to contact IT department numbers, it was not connected.
now, I am confused about what to do?

Dear Experts,

We filed the revised TDS return (Form 24Q) for F.Y. 2024-25 with proper support and compliance. However, we are facing the below issue:

Our employees have not received credit for the TDS in Part A of Form 16.

While the tax payable and the gift card amount under the Perquisites head have been correctly updated for all employees in Part B, the non-reflection of TDS credit in Part A has resulted in increased tax liability by the amount of TDS on the gift card portion.

Please note that we had duly added the challan in the revised statement and also reported the deduction details against that particular challan while filing the revised return.

👉 Issue Summary:

Challan paid and reported in revised return.

Deduction details linked against challan.

Part B updated correctly (tax + perquisites).

But Part A is not showing the TDS credit, leading to mismatch.

We request guidance from experts on:

Why this TDS credit has not been updated in Part A of Form 16 for employees even after revised return filing?

What exact steps should we take to resolve this issue?

WHETHER THE NEW COMPARATIVE NON CORPORATE FINANCIAL STATEMENT FORMAT ISSUED BY ICAI SHALL BE APPLICABLE FROM A.Y. 2025-26 (I.E. F.Y.2024-25)?