Akshit Jain

In the joint mutual fund investment case, is the mutual fund investment reported on AS26 and AIS of only the first/primary MF investor or both investors?


Kollipara Sundaraiah

Sir,
It assessess senior citizen taxable income rs:5 lacs below yearly f.y.24-25 assessess cash gift to grandson rs:1 crore amount through on bank channel mode paid f.y.24-25 and assessee capital account balance rs:50 lacs show in balance sheet
Question:
Assessess gift amount excess of capital balance sec 68 provision applicable for it act


AJAYI

For calculating the peak balance, should i consider the per day balance at the end of the day or after each transaction? Also, the statements reflects the posted balance for each day, should i include only the posted balance or the pending balance.

For example lets say, I deposit 100 dollars and take out 50 dollars - > the balance at the end of the day would be 50 but the maximum balance on that day would be 100. Which should be considered?


Tejas Chaudhari
11 January 2025 at 19:36

Can Stamp duty taken as a expense

If Builder pays stamp duty on flat can same be considered as a expense in Income tax return


Akshit Jain

If a parent gifts 60 lac via cheque to his adult son and the son deposits the cheque in his savings bank account, does the deposit trigger an ITR filing obligation for the recipient under *Section 139 (1) and rules 12 AB of the Income Tax Act, 1961.? The son has no taxable income.


Urvashi@0311

Hiiii!!!!
i had bought gold mutual fund in year 2021, and sell in the year 2024-2025. what is my period of holding? what is ,y tax rate?
please provide clarity on taxation of Gold mutual fund and Gold ETF purchase before 1/4/2023 , between 1/4/2023 to 31/3/2025, purchased after 1/4/2025- Period of holding, capital gain, tax rate ?? indexation benefit or not??


Divyesh Ajmera
10 January 2025 at 17:08

TDS deduction.

Is TDS is deductible if payment reverse by individual to NRI by filing 15CA?
Code :- s1502


Divyesh Ajmera

TDS is required to be deducted on foreign remittance for purpose code s1502 and recipient is in Czech republic country?


S.R. JAIN
10 January 2025 at 14:10

Penalty under new section 271 of IT Act

An NRI assessee did not file return.Notice u/s 148 issued in response to which return was filed and tax of Rs 99000 after deducting TDS
was paid.In assessment return was accepted in toto without any addition.Can penalty for concealment be levied? Please give reference of some case laws.


Harika
10 January 2025 at 13:36

UPDATED RETURN FOR FY 2021-22

I, SALARIES EMPLOYEE, ALREADY FILED INCOME TAX IN OLD TAX REGIME FOR FY.2021-23. FOR THE SAME FILED UPDATED INCOME TAX RETURN IN NEW TAX REGIME -
IS IT CORRECT
CAN I CHNAGE TAX REGIME IN UPDATED RETURN RELATED TO SALARY EMPLOYEE






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