A house is in mother's name. The income from house property is received by her daughter. A Joint home loan was taken by Mom and daughter in which the daughter is the guarantee and she pays the entire loan amount along with interest. Can the daughter claim the income from the let out property and claim the entire interest amount as deduction u/s 24 (b) under new tax regime or old tax regime

Two persons took a 100 bigha land on lease jointly for growing and selling green tea leaves in Arunachal Pradesh. The lease rent is fixed at Rs. 14.00 lacs (7.00 lac payable by each persons). Their annual turn over is below 1.00 crore. Whether they are liable to deduct ITDS on lease rent ?

Public Charitable TRUST registered u/s12AA is allowed to accumulate surplus amount not exceeding 15%. If this amount by mistake is not claimed in the return even tough amount of income applied, surplus amount set aside u/s 11(2) etc. is claimed. Then A.O. is supposed to allowe this 15% amount atomatically while completing the assessment & determining the assessable income

Respected Sir/ Madam

I am Filing Return u/s 44ADA For Homeopathy Practitioner , there is also income of Short term Capital gain
income is near to 4,00,000 Business Income and 10,000 Capital gain income

from last 2 year itr filled u/s 44ADA (ITR 4 ) and no any other income and income is near to 4 lakh

My question is for A.Y. 2025-26 income is business income and STCG income, So ITR 3 will be filled

for ITR 3 there is one option of Are you liable to maintain accounts as per section 44AA?

44ADA Said there is no books of account Maintained if atleast 50% income declared ( i declared 55% income )

and 44AA said The specified professionals are required to Maintain Books of account

i am Confused that 44AA specified professionals and 44ADA specified professionals are same

so while Fiiling ITR 3 and Declared income U/s 44ADA what option should be select for Books of account Maintained ? Yes or No ?

Sir.
While preparing income tax return, it found that there is wrong fixed deposit(2.93 cr+.60cr) fund found in TIS report.
We discussed with Bank about it . They give actual fixed deposit statements .
How to remove this wrong fixed deposit in our income tax report.
Please advise.
Binu

whether portfolio management fees shall be allowed as deduction against short term capital gain u/s 111A?

My wife is a Salaried Individual. She invested regular SIPs in Equity Mutual Funds. In FY 2024-25, due to need of money for personal requirements, she sold some units of Mutual Funds amounting Rs. 10,000/- and more. Which ITR Form she should be filed in AY 2025-26. In last few years, she filed her annual income of Salary, Tuition and Bank FDs interest with ITR-1. Which ITR FORM in this AY 2025-26, should she file ITR-2 or not? Give your expert opinion, that which ITR Form in AY 2025-26, she file ?

My AIS has duplicate entry on sale of securities from cdsl &kfintech.Against cdsl entry i have given the feedback as duplicate information.Do i need to specify where the duplicate entry appear.If so how to show as Feedback has no such option.

Hi
While filing my return for AY 25-26, I saw in my AIS and TIS a strange entry called Interest other than "Interest on Securities" received (Section 194A) and Information source as :OFFICE OF REGIONAL PROVIDENT FUND COMMISSIONER BANDRA EAST (MUMO03518E). The amount shown is Rs 53160 and TDS deduction on the same is Rs 5316.

My contribution to PPF+PF+EPS has not exceeded Rs 7.5 lacs in AY 25-26 and there is no bank entry in my bank regarding this amount. My question is what is this amount and do i need to add this amount in Sch OS ?

Thanks

Dear Sir,
In AY 22-23,I had invested in money multiplier fixed deposits in ICICI Bank which is linked to savings bank account. I had made deposit of 6 lakhs for few months and closed it,then again deposited 5 lakhs from maturity amount without deploying fresh capital. Now my AIS is reflecting term deposit of 11 lakh as cumulative fd amount although my total capital in account was not more than 6 lakh, thus increasing my compliance which can attract IT notice in future being fd of more than 10 lakh ( High Value Transaction).

My question is:
How to address this problem by any means and how to rectify feedback in AIS ?

Thanks Sir