Hello everyone,
I have some RSUs in the US on which I have received some dividends both in 2022 and 2023. I read that foreign asset disclosure is to be done for the calendar year (Jan - Dec, 2022) for the US stocks and therefore, I am confused if I should add the dividend received between 1 Jan, 2023 and 31 March, 2023 to my total dividend income? Since this period is outside the US accounting period.
I am given 1024-s form which only mentions the dividend amount received in 2022 and the tax deducted from it. I have to claim a foreign tax credit too through Form 67. Please suggest what should be done here. Thanks.

Hello,
In my EPF passbook statement I can see taxable interest (above 2.5L) for each month separately, for FY 2022-23. But the interest for FY 2022-23 has not yet been credited.
So, my query is:
1. While filing ITR for FY 2022-23, I should not consider the EPF interest in my taxable income as it has not yet been credited in my passbook. Instead, I should be considering it in the next FY, when it gets credited. Is this correct ?
2. Or am I expected to calculate the interest and pay tax on it on my own in this FY itself ? If so, how should I factor in TDS as part of the calculations ?
Thanks

Hello, I'm delivering cash withdraw and deposit service to the customers, and getting commission and brokerage from banks. Cash withdraw above 30 lakh and deposited above 50 lakh. I'm doing this with multiple bank's. Because of this in AIS showing high value transaction. In AIS credit card payments also very high like above 90 lakh. What to do now?

My question is if seller is more than one then how i tcs collected and deposited

IS AMOUNT RECEIPTS FROM LIFE INSURANCE COMPANY UNDER SECTION 194 DA TAXABLE OR NOT? (IF NOT TAXABLE,THEN CAN I REPORT THE AMOUNT AS EXEMPT CATEGORY UNDER SECTION 10D)?
(TDS 5 % HAS DEDUCTED ON THE ABOVE SAID RECEIVED AMOUNT FROM LIFE INSURANCE COMPANY LIC)

Hi

Whether Indexation benefit is a vailable for Long term squity shares adn equity mutual funds?

01/04/2022 car hyundai RS. 327475
30/06/2022 new car purchase RS. 1769900
01/08/2022 SALE CAR HYUNDAI RS. 485000
NET BLOCK RS. 1612375
DEPRECITAION RS. 241856

IS SHORT TERM CAPITAL GAIN ARISE ON SALE OF CAR HYUNDAI ??

There was an ancestral property of around 75 years back which was inherited. There were 8 inherited co-owners as the family was very large. Property sold 5 years ago by 1 of the co-owner who was having the largest share. However, proportionate sale proceeds transferred by that co-owner to others only on FY 2022-23. The largest co-owner did all the transaction but did not share the sale documents with others due to family disputes.

Hence, the following information is not available to the other co-owners for LTCG calculation:

1) Value of property as per stamp valuation property not known

2) Fair market Value of 1.4.2001 also can't be calculated (only way to calculate that was by back calculating the Circle rate at time of sale with CII as base of 100, but stamp value not known).

3) Name and contact details of buyer of the property not known for mentioning in ITR

4) Also the amount was received FY 2022-23 for the actual sale transaction done 5 years back, so does it apply as income in previous year, also which year will be considered for indexation.

It is a peculiar case. Is there is any workaround for showing it in ITR. Or an assumed value of profit be shown in Income of Other sources as other income.

Thank you

Hi

Kindly guide one of client pensioner of national insurance company receiving pension through Lic and received arrear of pension and commuted pension separately during fy 2022-23 .now come to taxation point regular pension will shown under head salary under pension column ,secondly arrear of pension will also taxable under head salary (pension column) but subject to filing to form 10e to take relief under 89.Thirdly commuted pension will show under head of salary but under commuted pension column.Now if we are govt employee then commuted pension fully exempt but non govt employee we can half of commuted pension exempt under 10(10a) now question can we claim exemption under 10(10a) just put figure under exempted income or we need to file 10 e also for commuted pension exemption or just putting figure under 10(10a) is sufficient?

Dear Sir/Madam,
My query is as follows:

Mr A filed his return for AY 2021-22 within due date and show Long Term capital loss of Rs. 250,000/- to be carried forward.

He also filed his return for AY 2022-23 within due date, Paid the taxes. However he forgot to show last years LTCLoss of Rs. 250,000/- in losses brought down section.

Now while filing the return for AY 2023-24, he realised his mistake.

I wish to know:
How can he claim this LTCLoss of Rs. 250,0000/- in AY 2023-24?
Can he file updated return for AY 2022-23 and show this loss? and then show this loss in AY 2023-24 return?
Or he can not claim that loss now as it was not shown in earlier return?

Kindly guide.
Regards,
Suraj