For FY2025-26
I sold my residential property for a consideration of 100,00,000 (1 Cr) on 01/07/2025.
The purchase cost of this property was Rs 20,00,000 in Year 2008-09.
Indexed cost of this property is approx. 60,00,000

Thus LTCG after indexation was approx 40,00,000 (100,00,000-60,00,000)

After the sale, I purchased another residential property on 01/09/2025 for a price of 41,00,000 (all inclusive) to take benefit under section 54

Thus my indexd LTCG after section 54 should be 0 (40,00,000 -41,00,000). and I am being charged zero LTCG tax (the lower of CG tax of the two options (12.5% without indexation and 20% with indexation))
My income from other sources was 25,00,000 during the year
However, while calculating my final tax liability, the portal adds the unindexed LT capital gain of Rs 40,00,000 to my other sources income of 25,00,000 and puts my taxable income as 65,00,000 which triggers the surcharge at 10%. is this surcharge correct? is this the intent of indexation relief given by govt on july/aug 2024?

Mr A purchased a flat in January 2008 and sold it on 15th March 2024, generating a long-term capital gain of Rs. 19.60 lakhs.

He invested Rs. 40 lakhs in an under-construction property on 20th March 2024. The possession of this flat is expected in August 2026.

He has plans to sell this flat immediately upon receiving the possession for Rs. 45 lakhs. Will the earlier LTCG of Rs. 19.60 lakh become taxable?

Neither the sale agreement has been entered into nor has any allotment letter been received till date.

I wish to know his tax liability.
Kindly revert.
Regards,
Suraj

R/sir

I have been sale and purchase of under mentioned ETF gold and silver :-
1.ICICI PRUDENTIAL MUTUAL FUND MUTUAL FUND GOLD EXCHANGE TRADED FD OP(INF109KC1NT3) ( class type showing in AIS is Unit of Equity Oriented Mutual Fund (STT not Paid)
2.HDFC MUTUAL FUND HDFC GOLD EXCHANGE TRADED FUND(INF179KC1981)( class type showing in AIS is others units) STT paid
Query:- What is short term capita gain tax rate on above both condition 20% or Tax slab rate
Thanks

Assessee is a salaried person in employment at a Private Software co since Sep'2023. He was terminated in January'2026 and given a severance pay of 10 Lacs for the same in the name of Ex Gratia & Statutory Payment.Due to the extra payment of 10 lacs the assesee total income has exceeded 50 lacs leading to additional tax and surchage liability.

Can we file Form 10E (Part-Annexure-III) for claining relief under section 89 in Income tax.

An assessee's other sources of income is Rs.1487040. The sold a flat for Rs.4500000 on 24/12/2025 and it was purchased during the finanical year 2006-27 for Rs.1600000. The assessee is resident indian citizen. Indexed capital loss works out to 431148. Whereas without indexation Rs.2900000 is long term capital gain. With indexation there is a tax Savings of Rs.362500. I want to know what is the Total income to be taken whether Rs.4387040 or Rs. 1487040 (LTCL not to be set off against other income in our case). The assessee follows new tax regime and adopts indexed cost of acquisition for calculation long term capital gain.

Sir,

A client has started a nursery business on 6 acres of leased agricultural land. He purchases live plants ranging from 2 feet to 8 feet height from other nurseries. These plants are then maintained in the nursery for more than 6 months. During this period, labourers carry out watering, manuring/fertilizer application, pruning, cutting and other growth-related activities. The plants undergo substantial biological growth before being sold.

In these facts, whether the income from sale of such grown plants can be treated as Agricultural Income under Section 2(1A) of the Income-tax Act, 1961, or should it be assessed as Business Income?

If Assessee is having 9 Trucks & gross receipts is more than 2 crore.
can we file return ITR-4 under section 44AE or required tax audit??

Hi,

I have few queries regarding reporting of house property in ITR :

1. If I have 1 or 2 self occupied house property, where do i report them in ITR? (Considering net income for both as zero).

2. Is a commercial property also part of house property?

3. I have bought a residential plot for investment. Will it also form a part of house property?

Thanks in Advance.

Sir, my son has income of Rs. 10 lacs from aboard as a freelance job on contract basis plus 7 lacs income from salary earned in India.
He is providing service as a healthcare and setting their client health claim. Whether all the amount is taxable of freelancer or 50 percent will be counted for tax purpose. No books maintain.

Since the property was registered and transferred on 28 March 2026, but the buyer paid the balance amount and deposited TDS in May 2026 (Tax Year 2026-27), in which assessment year should I claim the TDS credit of 2 lakh ?

Can the TDS credit be claimed against the capital gains reported for the property sale dated 28 March 2026, or must it be claimed only in the tax year in which Form 132 reports the TDS?

TDS entry showing in Tax year 2026-27 not in 2025-26

Has anyone dealt with a similar Form 132 / Tax Year 2026-27 transition case under the new Income-tax Act, 2025? or anyone tried to change the assesment year after 7 days window close