Respected team
I have a question that medical allowance given with pension to the retired judges is exempt from tax or not ? If exempt from tax please clarify under which section . Thanks

Can exemption u/s 54 be claimed for sale of multiple flats and purchase of One residential house property?

Hello,

I have paid total 50 lakh rs for sanctioning building plan. My query is will these charges come under capital expenditure or revenue expenditure. And can i show as a expense in income tax return

I have two flats now.

Old One purchased in 2004

and one purchased in aug 2023 against sale of equity ( section 54 f benefit claimed) in fy 23-24.

If I sell my old 2004 flat for 2 cr and sell some equity ( long term) rs 80 lacs this FY 24-25, can I claim full cap. Gain tax exemption if I invest the proceeds in a new flat costing 2.80 cr.????

In such a case the LTCG u/s 54 F claimed last year will be added back this FY 24-25 at the new tax rate of 12.5 % ????

At any point of time i will have only two flats

An ITR was filed by me of one of my client for AY 2024-25. Up to 31.03.2024, the client was alive, but died after March,2024. The bank accounts of deceased were closed by his wife before ITR filing date, but did not inform me the same. Now, the refund has been sent by IT deptt. to his closed account. Sir, what should I do now to receive the said IT refund ?

In the recent July 2024 Budget the rules for STCG / LTCG taxation has been changed. It says new rules are effective 23-July- 2024. What does this effective date signify? Does it mean that if I have sold stocks and Equity or Debt Mutual Funds between say 1st Apr 24 and 14July 24, the rules for the tax calculation will be same as it was for FY2023-24? That is e.g I can use indexation benefits for Debt MF bought before 1st Apr 2023 for tax calculation/

One of the assessee working with semi govt department who has been issued form 16 late i.e.; after 31st July, 2024. On receipt of form 16, assessee individual has filed his return of income for A Y 2024-25 after 31st July, 2024 having no tax liability. But while uploading this return, late fee of Rs. 5,000/- is charged. The return is filed with late fees payable. On processing return u/s 143(1), the demand of Rs, 5,000/- is raised. Whether, this demand needs to be paid or can be cancelled subsquently. Pleaes advise.

Sir,
A Doctor maintained a private hospital fees collection from patients through different electronic modes received mentioned below
1.credit card
2.debit card
3.net banking
4.upi mode
5.rtgs mode
6.neft mode
7.bhim mode
Question:
Assessess above mentioned amount received accepted and any limit provision applicable for it act.

Sir

Can society registered under 12A invest in Mutual Funds as per sec 11(5) READ with Rule 17C.

Thanks

If assessee recd notice u/s 133 (6) and he has income only from agriculture source and office demand for capital account and statement of affairs. But assessee not maintain books . What can be done in this case??