what would be the journal entry of short income tax refund received for FY 2022-23.
Please rely with example.

Refund of current AY 2023-24 is being adjusted AY 2010-11 without intimation even though there is no tax payable.
There are no proper or timely reply when replied to outstanding demand.
This has been happening with many client

Q1 Can the files dating 12-13 years back be opned
Q2 Asuming that there is no tax payable or demand for previous years how can we recover the adjusted refund. Kindly tell me procedure

Thanks in advance

If Professional person Opts for 44ADA in income tax then in second year of filing of Income Tax Return can he opts out ? In business, person opting 44AD in one year has to follow the same system for next 5 years. Is there any clause like this in professional person ?

a person stayed in india in FY 23-24 for 20 days, prior to that he was permanently residing in india. Now in FY 23-24 he is earning income from dubai..will it be taxable in india?

One of My Client mortgage his property to a lender . he received cash amount Rs 50 lakhs and IT investigation wing seized his cash during survey . What remedies avilable to release the said amount

Dear Sir,

The Interest on refund amount taxable in the hands of trust or we can consider under exemptions under sec.11/12.

Hi,

by any chance can we get the Token number (online) of tds return Filed? need 3-7 of that...

what will be the process

The assessee is working in a MNC.
She opted for employee benefit scheme wherein she received cash proceeds instead of shares after the expiry of vesting period.

Contributions were made both by employer as well as the employee in the shares of such MNC during vesting period.

Scheme also included Restricted Share Units(RSUs)

What shall be the tax treatment during different phases under different schemes?
Will there be Capital gain as well?
Or the cash proceeds received is after deducting all form of tax? I.e. no liability of capital gain?

in case of reconstiution of firm, due to admission of new partner, do i need to inform income tax department before return of income is filed? or mentioning such changes in the return of income is sufficient under section 184 and its relevant rule.
i noted that most of the forms mentioned in the rules assosiated with section 184 has been omitted, also though 184(4) says one have to attach revised deed with the return but it is prohibited under other rules. so what i need to do to be on the safe side of law and rip all the benefits of income tax law.

Mr. X is a farmer.  Apart from his own produce, he also purchases from other farmers.  After keeping for certain period, say a year, he sells the same to a miller. Will the profit earned on sale of the produce (own and purchased) be taxable ? Or that will be exempt. Request for an Expert opinion.  Thanks & Regards.