bhavani P
15 July 2024 at 23:42

Shares in AIS

Respected sir/madam...
When filing the ITR...I checked AIS, in that I found the list of shares/ MF'ssold during the year, some shares and Mutual funds are in active status some are in inactive status... only sale consideration of active shares/MF's are matched with grand total given in AIS...now my doubt is while calculating capital gain and while reporting in ITR-2 about shares/ MF's what amount I have to mention that means total of active and inactive or only active shares/MF's...please respond to my query as soon as earlier.


Radha Sudhaker

My mother aged 76 retired from service getting pension and also other incomes through FDs. However her total income is less than 5Lakhs.
She was not filing her ITR since 2014-15 due to her total income is less than taxable income.
We noticed that from her deposits TDS was deducted for the FY 2022-23 and FY 2023-24.
For claiming the TDS while filing the ITR website it's showing only for 2023-24 TDS.
Do we have any provision to add the FY 2022-23 TDS for claiming.
Kindly please anyone clarify me.


YELLANKI RATHNAGIRI

I have done share activities which include Long Term, Shot Term, Intraday and F&O
so i downloaded statement from stock broker website, sum charges were incurred on transactionS but they did not split the charges head wise.

now how can I split the charges (expenditure) head wise?


ravi shankar

I am a pensioner without business income but with a little Capital Gains from sale of shares & redemption of Mutual Funds. Principal income is from pension. I've completed entering all the data for online submission of ITR 2 on Govt IT Portal. While beginning the data entry I chose OLD REGIME. If I want to opt for NEW REGIME now just before submission do I have to start afresh or is there an option for the same at this final stage?


Chirag H. Thakkar

If a person sale a residential plot of land purchased in 2010, can he claim exemption under section 54 for construction of his house?? (old house demolished & constructed)


Nitesh Maheshwari

Turnover in the case of Intraday Trading is Absolute Turnover, IN AIS statement Showing sale Value of Shares and securities is amount of Rs 2.20 Crore .
please assist which turn over i have to show in ITR 3 in speculative business 2.20 Crore of Absolut turnover which is 50K .
Also it is a loss case so need to require Audit u/s 44 AB ?
in some delivery base transactions also to be included in Business income or to be shown in Capital Gain statement ?


Ramadevi Srinivasan
15 July 2024 at 15:27

Capital Gains on sale of UTI MEPUS

A person sold units of UTI MEPUS in 2023. The same was bought in 2003. The UTI sent the CG statement which shows the acutal purchase price in 2003, the grandfathered value as at 2018 and sale price and shows the applicable CG earned. However the statement does not indicate the ISIN number of the scheme. On enquiry the UTI has replied vide email that this scheme does not have ISIN as it is not traded in secondary market.
How can the LTCG in this case be reported. As this is an equity oriented scheme (the name itself says Master Equity Plan Unit Scheme) we decided to report in Sch 112A of the CG section in ITR 2. However, as there is no ISIN we are unable to report the same.
Please guide as to how this can be reported.


Himani Sharma

Kindly advise how to treat gain on sale of Car Bought a second hand car 290000 and sold after one week of purchase @ 370000
How the tax liability will arise on gain


Priya
15 July 2024 at 14:40

F&O profit in ITR

Should I be declaring my personal F&O profit in
Trading Account -> Revenue from Operations -> Sales / Gross receipts of business -> Other operating revenues as "Profit from F&O trading"

Or, should it be in
Profit and Loss -> Other income -> Any other income as "Profit from F&O trading"

Last year, I had loss from F&O and I had put it under
Trading Account -> Direct Expenses -> Other direct expenses as "Loss from F&O trading"


Vasudeva Rao
15 July 2024 at 11:43

Capital Gains - section 54F

Sir, An NRI assessee who has sold long term capital assest otherthan Residential House situated in India, is claiming exemption under section 54F. He has one residential house in India and one residential house out-side India, as on the date of transfer of long term capital asset. 54F restricts the benefit only for those having one house property. Because the assessee is having one house property in India he intends to claim the benefit of section 54F and contends that his having one house property out-side India also at the time of transfer of capital asset, though amounts to owning more than one house property, will not come in the way of claiming the benefit of Section 54F. Whether 54F benefit can be claimed by purchasing / constructing one house property in India withing the time allowed, even though he is having one house in India and one house out-side India, with the contension that, he does not own more than one house property in India. Thanks in advance.






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