Sir, TDS is to be deducted for freight paid exceeding Rs. 1.00 lac to any single party. If upto Dec.2023, paid only 80,000/-(all payments below 30,000/-) but in March,2024 paid 40,000/-. Whether TDS to be deducted on cumulative total of 1,20,000/- during 4th qtr. If yes, then what about late fine and Interest payable on previous payment ?

Dear Expert,

The assessee has filed his returns all these years up till A.Y. 2023-24 under the old regime. He has income from other sources and small profit from Futures and Options which he declares under business income. From A.Y. 2024-25, default regime is New Regime. However, he wants to continue to file his return under old regime as that is more beneficial to him for A.Y. 2024-25.

I suppose he is required to file Form 10IE before uploading his income tax return. Am I right in this case? Or as he filed all his previous returns under Old Regime so he does not have to file form 10IE?

Please advise.

Sir/Madam

Is any capital gain tax payable by me if i transferred some share to my wife account in fy 2023-24??

Date of Sale is transfer of share to my wife's demate account??

Please guide me.

error: deductions us 54F claimed here should match with total of deductions claimed in respective assets. i have ltcg in mutual funds which i invested in my first residential property whose cost is more than total sale value of mf . i get this error whether i fill total sale consideration or ltcg. please help

Old age home Trust is receiving a consideration from guardians (of that old age people). Is that consideration treated as Donation? If yes what if that donation returned to donee.

Dear Sir/Madam
I have following questions of non-resident individual.

1) He has house and other property in India and want to sell all property and he want to transfer all fund received ag. Sell of property in his NRO Bank account then he want to file his tax return in india and tax payable at which rate?
2) He has balance in saving bank account in India and he want to transfer his fund in his NRO account then is any tax payable by NRI?

1) T_FV_6351 Applicable and Mandatory For Financial Year 202324 onwards 'Other special allowances under section 10(14)'.
2) T_FV_6354 If 'N' is selected for field 'Whether opting for taxation u/s 115BAC? OR Whether opting out from taxation u/s 115BAC(1A) (Applicable from FY 2023-24 onwards) [Yes/No] ', then no value should be specified under this field for statements from FY 2023-24
a) Travel Concession or assistance [section 10(5)]
b) House Rent Allowance [Section 10(13A)]


KINDLY SUGGEST ME HOW TO RESOLVE THE ERROR

Dear Experts,

The assessee has chosen New Tax regime with the employer and tax has been deducted as per new Tax Regime. The assessee has other income source like dividend, interest and capital gain. The employer has already filed TDS return for the A.Y. 2024-25. The assessee wants to shift to old regime as that turns out to be beneficial after claiming the deductions.
Can the assessee choose OLD regime while filing his Income Tax return in ITR No. 2? Is there any regulatory requirement to do so except choosing the Old Regime in ITR Form, especially as earlier he has chosen New Regime with employer?
Please advise.
Thanks and regards,

How to rectify this error, Pls guide me

Dear Sir
My name is CA Vijay Kumar.
I have a query to the esteemd members and experts
pl give me your valuable comments if possible.
I have filed an  iTR of my client on 29.07.2023 for AY 2023-24. Apart from normal income from business there was income from capital gains. in sch. capital gains wrong date of acquisition feeded despite correct indexation benefit is taken. I realised the mistake after 31.12.2023 so could not revise but filed an updated ITR U with some additional income and tax and corrected the dates.
Department sought clarification on 28.02.2024 with extra capital gains, I filed immediately reply with that mistake has happned and kindly consder ITR U or correct my data.  
However, the Department on 30.04.2024 processed the original return and created the demand by not giving benefit of indexation. Now when I am filing, the rectification request u/s 154 system does not allow saying your latest return is pending (ITR U), Kindly wait till it is processed.
 I submitted the response to the demand raised under section 143(1), filed a grievance and palanning a grievance on CPGRAM also.
My query is here should I file an appeal also against 143(1) order also as the window for appeal will close on 29.05.2024. 
or what is best course of action ? Should I wait for processing of ITR U, which I have not seen happenning for any ITR U filed so far.
I shall be highly obliged to all of the experts.
Thanks and Regards.