Sir.
I heard new update in Income tax for small business group.
1. No income tax for income up to Rs. 12 lakhs under new tax regime.
our business turn over is around 1.75 crores . and 100% online fund transfer . taxable income comes (6%) 10.50 lakhs . in this case ,whether need to pay income tax .
2. turn over limit is increase from 2 crores to 3 crores .
is it correct .
Please advise
with regards
Binu

Sir,
I have purchased debt mutual fund in 2014 and want to sell(Redeem) in February 2025.)
What will be tax liability

Sir,

Please clarify:
Whether is it taxable if LTCG in shares exceeding the limit of Rs 1,00,000/- and below the taxable income(Assuming no other income)

Sir,

Please share Budget Highlights.

a person whose turnover is more than 2cr has taken a unsecured loan.
Is it necessary to give interest on that loan.
if not paid any consequenses.

For one of our client for FY 2021-22 we got condonation order u/s 119 from CBDT. But we are not able to file the IT return due to lack of DIN no., on it. Even we met Commissioner, AO multiple times regarding this issue no one was given a proper answer.

What is the remedy for this ? To whom we need to consult?

Letter Format for Jurisdiction change

ONE OF MY NON RESIDENT INDIAN CLIENT HAS ALREADY SENT 158000 USD OUT OF TOTAL SALE PROCEEDS OF HIS SHARES IN THIS FINANCIAL YEAR . HE WANT TO SELL HIS RESIDENTIAL HIS RESIDENTIAL HOUSE IN INDIA AND WANT TO SEND 270000 USD TO USA. DUE TAX @ 23% HAS ALREADY BEEN DEDUCTED AND PAID. KINDLY ADVISE.

A Foreign citizen selling a property in India acquired by will of his parents. The total consideration will be around Rs. 1.75 crores. What will be the Income tax applicable to him on Capital Gains?

"Sale is happening after 23.07.2024"

What will be the TDS that to be deducted by the buyer against this deal?

Profit From trading in MCX income tax Rate & which income head?