Dear Expert,

I was paid Gratuity for my employment (in August 2024), which does not reflect in Form 16 issued by employer for FY2024-2025. When asked the employer is not providing revised Form 16 to show the Gratuity Amount and the Exemption under Section 10(10).

Kindly let me know, how should I proceed ?

Sir/Madam

Van we show of total profit or loss from F&O as business income in tax computation??

Loss from them can be C/f in 8 sfy??

Please guide me.

In AIS of a taxpayer for F.Y. 2021-22, sale of equity oriented mutual fund units is appearing under SFT. The FMV of these units appearing in the AIS relates to which date?

hi,
just wanted to know, how to calculate the FA depreciation as per co act

suppose we buy Furniture in the 15.3.21, so how to calculate the tds of this?

Dear Sir,
In FY 24-25 I had purchased some overnight mutual funds which I sold also after two months of purchase in March 25. But now in AIS, this same transactions have been reported by registrar, nsdl and mutual fund AMC as well.
For example, Axis overnight fund purchase is reported by Axis mutual fund + nsdl + Kfintech. Now probably nsdl reported since unknowingly I purchased mutual fund in demat form instead of physical form from ICICIDIRECT platform. Since same transactions have been reported by three agencies, these same mutual fund purchase transactions are getting added in TIS repeatedly and net purchase amount reflected has become tripled than the original purchase amount. For example if I've bought mutual fund worth 7,00,000/,TIS is displaying net purchase as 21,00,000/.

My question:
How to address this problem and rectify AIS ? Which available feedback option to use to get rid of increasing compliance and future scrutiny and notices from ITD ?

THANKS

Dear Sir,

A Pvt Ltd company applied for Fully certain Fully Convertible Debentures of B Pvt. Ltd. on which 150lacs was due on application and allotment and 150 lacs on 1st Call.
A Pvt. Ltd paid 150 lacs on application but failed to pay call money of 150 lacs despite repeated reminders and B Pvt Ltd as a consequence of non payment of call money forfeited the 150 lacs paid on application and allotment.

Queries:
1. For B Ltd is it a capital profit hence not taxable.
2. For A Pvt. Ltd. what is the accounting treatment of debenture application money of Rs 150 lacs forfeited. Can it be claimed as loss and A Pvt. Ltd. and can take tax benefit on it.

3. What if a third company C Pvt Ltd wants to take over/merge with A Pvt. Ltd. can it take tax benefit of loss in the books of A Pvt Ltd on account of loss on forfeiture of debentures and carry forward the loss up to 8 years

Please share your views.

Thanks
PC Joshi

Dear All,

My annual income for the previous FY was 7.10 lacs through Fixed deposit interest.

There is no other source of income. Bank has deducted TDS of 70,000( approx)

Am I still liable to pay any tax ?

Dear Sir / Madam,

Mrs. A executed an agreement to sell with a builder on 01/05/2014 to purchase a residential flat. On this date, the stamp duty was also paid. Afterwards, on 05/10/2019, Mrs A executed the sale deed with the builder, which was registered on stamp duty value of Rs. 100/-
Now she wants to sell this flat. For calculating the capital gain, which date, viz. date of agreement to sell (01/05/2014) or date of sale deed (05/10/2019) is to be considered?
Kindly guide.

Thanks & Regards,
Suraj

I am paying rent to NRI(around 75000 per month or 9 lakhs per annum). The amount is transferred to their Indian account

Do I need to fill form 15CA and Form 15CB?

I read Form 15CA is not required when you do not require RBI approval for remittance. For rent payment no RBI approval is required. Can I assume form 15CA and Form 15CB is not required?

Dear Experts,
I have not been working from August 2024 and I am yet to withdraw my EPF amount. Until July 2024 EPF contribution was done both by me and my employer.

My question is regarding Advance Tax for EPFO Interest for the FY 2025-2026:
- Do I have to pay advance tax (in FY2025-2026) for EPFO interest for FY2024-2025 which is yet to be credited (since it will be credited in November 2025) ?
- Since interest is calculated and paid by EPFO for the complete year FY2024-2025 and I was working until July 2024, I presume I have to pay tax only for the period from August 2024 to March 2025 ?
Any guidelines on how to calculate the tax on interest for the period August 2024 to March 2025 will help.