sir
MR A RUN FOR REAL ESTATE BUSINESS FOR THE FIN YEAR 2022-23. HE BROUGHT FOR 25 ACRE. LAND FOR VARIOUS DOC. HE SOLD OF PART PART LAND OF 12 ACRE NUMBER OF DOC.
PL KINDLY ADVISE FOR ACCOUNTING METHOD AND. AND DECLARE IN INCOME TAX HEAD. BALANCE 13 ACRE LAND UN SOLD . THE UNSOLD LAND UNDER STOCK?
THANKS

Assessee is a Trust, running school whose gross receipt falls under Rs. 5cr.

For the a.y. 23-24 the assessee trust filed it's ITR u/s 139(4C) belatedly on 30.10.23 and claimed exemption u/s 10(23c)(iiiad).

In Schedule IE-4, following details were filled :
Annual gross receipt - 50L
Amount applied for objective - 48L
Balance accumulated - 2L

In Part B2 of Part B - TI : exemption amount claimed u/s 10(23C)(iiiad) - 2L

Now, the assessee has received adjustment notice u/s 143(1)(a)(ii), which says :
"Income due to disallowance of exemption under clauses of Section 10 entered at Sl No. 3 of Schedule OS is less than the difference between the "Gross receipts " in Sl. No. 3 of Schedule IE-4 & exemption claimed in Part B2 of Part B - TI.
Hence the amount mentioned at Sl. No. 1(e) " Income due to disallowance of exemption under clauses of Section 10" in Schedule OS is recomputed accordingly.

Kindly suggest if the return filed by assessee is correct?
Also what shall be done further in this case?

Sir,
please suggest a person invested Rs. 3 Lacs in Mutual fund and stocks also. can he face notice from IT department. someone told if any body invest more then Rs. 2 Lacs fifty thousand in one Financial year he she face notice from IT department Mutual fund company report to IT department through SFT please suggest it's any myth or reality.

I am regular Filed ITR from FY 2020-21 2021-22 2022-23

Sir,
please suggest a person invested Rs. 3 Lacs in Mutual fund and stocks also in FY 2022-23 . can he face notice from IT department. someone told if any body invest more then Rs. 2 Lacs fifty thousand In one Financial Year he she face notice from IT department please suggest it's any myth or reality

I am Regular Filed ITR from FY 2020-21, 2021-22 2022-23

In Joint Development Agreement While calculating capital gain is stamp duty value or market value i.e. Agreement value of similar office/shop sold by the Developer to be taken into consideration while computing Landowner capital gain tax.

If the above answer is stamp duty value than should the Stamp Duty Value be calculated on general unit or our specific unit and while calculating Stamp Duty Value of the landowners unit will they get the deduction from the stamp authorities for the value of land.

Can I file multiple form 10E in the same year, If arrear of multiple financial years received in current year.

I have filed IT return of Education Institution u/s 10(23)(C)(iiiad) for A.Y. 2023-24 as the receipt of such institution is less then the 5Cr.

My concern is that whether i have to file audit report form 10BB for claiming exemption u/s 10(23)(C)(iiiad) because as per new amended rules 16CC and 17B, 10BB is required to file by those institution whose receipt are not more then 5 Cr.

Please guide

What is the limit for cash withdrawl/deposit in a financial year in respect of

Savings bank
Currwnt account


Also, whether renewal of a matured fd ,say of 11 lakhs(principal plus interest) is considered for calculating such deposit limit ?

Sir,
Dental clinic maintained a Doctor fees from patients rs:15 lacs and purchase of medicines treatment purpose amount rs:1,20,000/-
Question:
Assessess medicines purchase amount expenses claim allowed provision as per 37 in it act.

as per intimation of demand for ay 11-12 where assessee has filed speculation loss but CPC has considered it as Income and created demand, have sent error to AO. His contention was that since the said rectification is beyond 4 years he will not be able to carry out the rectification neither give rights to CPC to rectify the said order. The alternate he has given that to file Appeal to CIT with condonation of delay and ask them to pass the rectification order. Experts Need your advice for way forward to nullify the demand.