The husband transferred securities worth ₹9,84,783 to his wife's demat account through an off-market transfer. Subsequently, the wife transferred securities worth ₹9,89,983 back to the husband's demat account through another off-market transfer.

Please advise on the income tax implications of these transactions in their respective Income Tax Returns (ITRs), including whether any tax liability or disclosure requirements arise for either spouse.

Sir,
Usually Figure of Equity Shares and their values differ as shown in AIS and that shown in Broker's statements. This may happen because of many reasons of data mismatch .
If figures are different then P&L will also be different.
Under this situation , query;
1. Can we consider only Broker's statement of Capital Gain as prime source ,for reporting Capital Gain on shares by uploading broker statement with ITR filing in Schedule of CG and ignoring figures of AIS.
2 Can we ignore giving "Option " input information against each entry in AIS, because of large nos of transaction.
3. Is any reconciliation is compulsory or Optional ( as data is voluminous )

Pls guide pointwise what is right approach. Thankyou.

Dear All,

I have a flat which is currently under redevelopement scheme. The flat is neither self occupied nor rented out.

I received monthly Rent of Rs. 10,000/- and lump sum amount of Rs. 2,00,000/- as a compensation from developer.

Please guide me whether rent and lump sum compensation received is taxable?

Please also guide me on applicability of capital gain & exemption under section 54 in such redevelopement case.

Thanks & Regards
Nirmal

Instead of sale, if I switch my units to other category, will I have to pay the LTCG on the difference ?

Sir,
During the FY 2025-26 i have share short term loss Rs. -693 and long term profit Rs. 5889/-. i have shown respective schedule value but in the column Receipt column negative value for short term loss not taken then where to show it. how is rectify because if i shown only short term loss but it must tally with report.

Please guide me.

Thanks & Regards
Sanjay

Here is an individual assessee senior citizen aged 89 y.o. He has received Pension arrears of Rs.291125 pertaining to F.Y 2013-14.

As you can see in the merged image below of "10E FORM" a TDS of Rs.17018 [as shown in 26AS] was deducted on FD's Interest income in F.Y. 2013-14. [image link provided below]

He didn't filed ITR for A.Y. 2014-15, as a result such TDS amount is with IT Dept.

In form 10E :-

2) Total income of the previous year is = 170180

3) Arrears received 291125

4) [Previous year 2)+ arrear 3)] = 461305

5) Tax on Total income of previous year (2) = Rs. 0

⁉️Now the question is for column no. (6)

🤖The system is calculating tax as Rs. 19,704

🧠But if we take TDS in account 17,018 and subtract it by 19,704 tax is reduced to Rs.2686.

Out of these two options which one is correct & why do you think so ? Any reference with regards to particular section & rules which justify such reasoning & answer ? Kindly enlighten this case.

Case Photo link :-

https://jumpshare.com/share/58qe00hY7hAah0CSpN9K

i purched swiggy unlisted share at 50/- per share early 2015, after ipo today i sell at 249/- per share 500 shares.
tell me Capital gain.

Salary and pension received from Asian Development Act is exempt under UN Privileges and Immunities Act and till last year we used to show under OTHER EXEMPT INCOME. But for this year tax return they have removed the option of other exempt and we have to select section respective section 10.But I do not find specific section under 10.
My querry is how to show this exempt income in this year return?

Hi Experts,
I am currently in RNOR Status. I have been investing in Indian Growth Mutual Funds (No Income generated as of yet) from past 1 Year. The source of the investments are as below
1. My own Income
2. My In Laws FD Interest Income (FD were created as gift from us from foreign)
3. My Foreign savings

can you tell me best approach to report it ?
1. As I am in RNOR no need to report it as govt gives us time to transfer money
2. Create Gift Deed every year
3. Report in Schedule Exempt Income in ITR Filling

Appreciate your advice.

Thanks,

For issuing notice u/s 143(2) for AY 25-26 30th June, 2026 was the last date ?