Dear Experts,

The assessee has sold delisted shares bought 15-20 years back having negative book value in off market deal for 1500/- and shares transferred to buyer in Demat account incurring loss of 98000/-. These shares are not traded on the exchanges in last 5-10 years.
Does section 50CA applies to these transactions? If yes, how one can find FMV in absence of financial data for many years? Where it is to be shown in the schedule of Capital Gain?
Secondly, while filing return in form 3 for AY 2026-27 under new regime, the assessee has total income of 16 lac comparing of LTCG u/s 112A Rs. 7 lac and Normal income of Rs. 9 lac. The utility calculates tax on Normal income and Special rate income and allows 87A rebate on tax on normal income.
Is there technical glitch or it’s a correct position?
Your guidance will be highly appreciated.

Thanks

Under the Income-tax Act, 2025 (effective from 1 April 2026), if the aggregate cash withdrawals from a bank account exceed ₹1 crore during the financial year, is the bank mandatorily required to deduct TDS under Section 393(3)?

Further, if the account holder has filed the Income-tax Return (ITR) and provides a copy of the filed ITR to the bank as proof of being an ITR filer, is the bank still required to deduct TDS, or can TDS be waived on that basis?

I have got several LIC Jeevan Akshay Policies under which I get Annuity from LIC. I Have been showing this under Income from Other Sources for past few years. This year the ITR 2 Form does not have a clear row for 'Others' under Schedule OS. Under Column 'e' which says 'Others', the nature is specified as 'Family Pension, Retirement Benefit u/s 89, etc., none of which fits the case. The last column says "Any sum received, including the amount allocated by way of bonus, at any time during a previous year, under a life insurance policy referred to in section 56(2)(xiii)" - I understand this section pertains only to LIC Maturity taxable from FY 2023. So, where to show the Annuity Income.

I also received a small amount as as sitting fees for having served as an Independent Expert in a Board Committee. Where can I show this income under Schedule OS. As this amount is nominal I thought its ok to use ITR 2, rather than going for the complex ITR 3. Is this OK.

I m filling Form 10BD but again and again getting the error :- "Each record should located on a separate line and it should contain 12 columns throughout the file.The original excel file should not contain any double quotes,empty lines,forward slash(\). I have prepared the form with all the details but dont understand why I such error, kindly guide on this , Regards in advance

A Non resident has one NRO account & two regular savings accounts in India. Can we mention 2 regular savings accounts in bank account details of ITR.

Hi all,
Can anyone please help me with this:
A minor has capital gain income which is clubbed & shown in his father's income as it's higher than his mother's income.
Is it necessary to register in income tax as authorised representative of minor for clubbing income?
Please note minor has no other income

I have Bank Account which is used by me for Transactions related to my Income from Business.

I also have other bank accounts which is used for transactions related to other heads on Income like Income from SaIary,CapitaI Gains , Interest Income etc

When I prepare Balance Sheet and P/L Account for filing ITR 3,whether I need to show bank balances of All Bank Accounts or I can show Bank Balance of only Business related Bank.

Income which is generated in other bank accounts will be shown in respective Income heads

Please guide

Dear Sir,
A lady, currently 90 years old, was married in 1952 and received jewellery as gifts at the time of her marriage. She now has no financial support and is considering selling this jewellery to meet her living expenses.

Please suggest is there any tax liability on the sale of this(Streedhan)?

Thank You

Sir,
Can we analyse a person's income from his bank statement.

I am a resident taxpayer filing my return under Section 44AD and have received interest of ₹356 from my NRE account. Kindly clarify whether this interest is exempt or taxable. If it is exempt, please specify the relevant section under the Income-tax Act under which the exemption is available; if taxable, please confirm whether it should be reported under the head "Income from Other Sources."