Dear Sir/Madam,
I have purchased an immovable property from an NRI. I would like to know how to deduct TDS in this case. I have already registered for a TAN on the Income Tax portal; however, I am unable to find the option related to the sale of immovable property.
Could you please guide me on how to proceed?
sir,
Is there is need to change partnership deed on new stamp paper due to substitute of Income tax Act ,1961 to New Income Tax Act,2025. As Act as well as partnership interest and remuneration clause has been changed. Interest and remuneration to partner in erstwhile Act were allowed under section 40 (b) whereas in new Income Tax Act ,2025 these are allowed under section 35 (e) - Stamp Paper
Is TDS applicable on business support services ? if yes under which section and rate?
HSN Code : 00440366
assessee is practising ca having receipts of 3 crores for fy25-26.
he is of view , as i am following cash system , no need to follow icds and hence, no need to follow merchantile system.
my question -- in 3cd, is cash system allowed?
assessee's view --> so even in 3cd, no need to follow merchantile system, as he is following cash system .
my view-->cash system is not allowed in 3cd As CBDT has clarified Circular No. 10/2017, dated 23-3-2017, that the general provisions of ICDS shall apply to all persons , so , merchantile is compulsory for 3cd right. am i right? or is cash system in 3cd allowed?
An MF Distributor earns income by way of brokerage. Can he choose to compute his income as per presumptive income scheme? If not, then under which section is a business earning from brokerage or commission not made eligible to declare income under presumptive income scheme? As per section 58 of 2025ACT and Table given there under column B , it states, "Any business other than the business specified against serial number 2". It states ANY BUSINESS" which will cover all business other than specified in serial 2. So business earning brokerage or commission gets covered.
Please advise if there is any other overriding clause excluding business earning income by way of brokerage from presumptive income scheme.
Thank you
we filed society return for the AY 2025-2026 and claimed exemption u/s 11. The society have FCRA Donations. we filed audit report form 10BB instead of form 10B. we got letter from Income Tax Department u/s 143(1)(a). It says that you are not filed audit report form 10B. How to rectify this and what to do. Shall we filed form 10B Original or Revised and audit report date what should we write
FOR 51 LAKHS SALES TURNOVER FOR ETF TRADING, AS MENTIONED IN SUBJECT, TAKEN UNDER SEC44AD AT 6% PROFIT (TO SKIP BOOK KEEPING AND AUDIT ETC.) TRADING PROFIT AT 6% IS AROUND 3.06 LAKHS. SO INCLUDING THIS TOTAL INCOME STANDS AT RS.7 TO 8 LAKHS. AM I GOOD FOR ZERO TAX AS INCOME IS BELOW 12 LAKHS?
IN AIS STATEMENT RS.18+ LAKHS IS GIVEN AS SALES (IN PLACE OF 51L). CAN I USE THIS FIGURE FROM AIS? IS SEC 87 A REBATE APPLICABLE TO ME?
I have observed two contradictory opinions on eligibility to file Form 121 under new IT Act 2025.
1]Mr Ashok Kumar has written to a query that form 121 cannot be filed if the incomtax libility is NIL
2]Today Mr.Dhirajlal Rambhia has informed that to file form 121, tax liability should be zero.
Please clear the confusion if my observation is wrong
M.A.Rasheed
hiii !!! filing of form 121 under new income tax act 2025( form 15G & 15H under old regime)
case 1: my interest and dividend income in total is 5,00,000
case 2 : my rent income is 3,50,000 and interest income is 7,50,000
case 3: my salary is 7,00,000 and interest income is 3,00,000
explain form 121 under new income tax act 2025, on above three cases and explain that we have to considered basic exemption limit or final tax liability shall be nil( case covered under rebate also )
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
Motor Car Perquisite Valuation as per New UT Rule 2026