Sir,

Whether 87A rebate was applicable in case of a non resident citizen having India Income during the financial year 2022-23.

A property is being jointly purchased by two brothers Mr A & Mr B for Rs 60 Lakh.
Both the buyers will contribute 50% (i.e 30 Lakh) each.


Will they have to file Form 26QB ??
As their individual share (Rs 30 lakh) is less than the threshold limit of Rs 50 Lakh.

Hi Sir/Ma'am,

My father and mother (joint) has recently bought a property of value 52 lakhs. I have submitted 52/2 = 26 lakh, 1% of 26 lakh TDS from fathers account ie 26k and same from the mother account. (I did this three days ago)

Today morning they both received notice from IT that an amount of 5 lakh is to be paid by each of them. ie total 10 lakh. And it's mentioned that it's related to the statement 26QB which I filed 3 days ago.

Please help

An assessee who is registered as a trust, has uploaded the return on 06-11-2022 and 10B on 06-11-2022 (Audit report) for the AY 2022–23 i.e; before due date, however intimation order under section 143(1)(a)(ii) was issued with demand due, after disallowing the expenses claimed in ITR. The error description in the intimation order was as follows;

"The Trust or Institution registered u/s 12A/12AA /12AB has not E-filed the Audit Report in Form 10B atleast one month prior to the due date for furnishing return u/s 139(1). Hence the exemption claimed in Sr.no. 6i to 6vii of Part B1 - Part B-TI is not allowable in accordance with the provisions of Section-12A(1)(b) of the Income tax Act."

Can any of the experts give me a suggestion for what i can do in this regard?, I have already filed rectification return against this but still it continue.

what is journal entry of provision for depreciation and also accounting group of provision for depreciation.

A trust is given registration u/s 12AB by CPC for registration in Form 10AC for a period of 5years from AY 2022-23 to 2026-27. Can the trust file its income tax returns after filing audit report? Any other forms to be filed? Can the experts give the details please

Case Selected For Scrutiny Of One of my Client Several Documents have been asked to Submission i.e Complete Ledger Accounts Conformation From Debtors Creditors etc
I have applied for Adjournment for 15 days as I was busy in Tax Audit Work Date was asked Till 16-10-2023, but Still Some Documents are to be Collected I want to Know Whether May I applied for Second Adjournment for 15 Days Case to be Closed by March 24

Sir,
A Doctor Advance from patients rs:10 lacs show in accounting records and house construction interest prepaid rs:2 lacs showing f.y. 22-23.
Doubt:
1.Advance from patients rs:10 lacs showing allowed and accounting treated in balance sheet correct procedure.
2.Prepaid house loan interest rs:2 lacs show debited to capital account or balance sheet correct procedure.

A trust is given registration u/s 12AB by CPC for registration in Form 10AC for a period of 5years from AY 2022-23 to 2026-27. Can the trust file its income tax returns after filing audit report? Any other forms to be filed? Can the experts give the details please...

Hi, ITR has been filed and its pending for credit on the account refund is more than 50k. But bank account is validated and restricted refund status and there is no remark updated as well.
As per PAN data base name is Subramanya shastry sumukhi (last name/ middle name/first name) and in bank records the name is Sumukhi shastry S ( first / middle/last or initial name) should I get it changed as per pan or can I get my initial updated with full eg Subramanya instead of S?
Once the name correction is completed in bank . Should only revalidate and again reissue the refund ? Or only revalidate will suffice.
Please advice