I want to file a return for Fy 2021-22, Ay-2022-23. My income is less than 2.5 lakhs. Tds deducted was Rs.3000, unfortunately, the company didn't provide me Form16a at that period. After giving them a reminder on June 22, 2023, they sent me the form16a on June 23, 2023, through email. If I file my return now, will I have to pay any late fee? If yes, then how much is the late fee going to be? I would be glad if you can help me with an answer.

Dear Sir,
I filed my ITR for FY 2021-2022 in old regime. For FY 2022-23 Income Tax is less in new regime than in old regime. I am a salaried person. So can I switch to new regime for filing FY 2022-23 ITR Returns. Please guilde.

Regards

OLD BIKE PURCHASED IN CASH FROM INDIVIDUAL BY DEALER AND PAID CONSIDERATION IN CASH.

NON COMPLIANCE ?

SECOND HAND BIKE DEALER PAID CONSIDERATION IN CASH TO OWNER OF THE BIKE.
AND THEN HE REPAIRS BIKE AND PAID REPAIR EXPENSE TO GARAGE OWNER IN CASH
AND SALE IT TO CUSTOMERS THROUGH CASH.

TRANSACTION IS APPROX OF 50 LAKH
IS THEIR ANY NON-COMPLAINCE ?

Hi,

My income from all sources is way below the taxable limit under new tax regime.
If I do intraday trading, and if the speculative profit I earn too is below the taxable limit after adding all the income sources then will the speculative income is tax free?

Thanks

Condition No. 1 – Agricultural Income exceeds INR 5,000 P.A
Condition No. 2 – The total income (excluding the Agricultural Income) is more than the basic exemption limit.

Are both these conditions to be fulfilled in order to file ITR 2 mandatorily? What if only condition 2 is fulfilled?

Hi team,

Any idea if the enhanced exemption of 25 lakhs under leave encashment for pvt sector is available for AY 23-24. It was announced on 24th May 2023. However , will this be effective for AY 23-24. or is it still 3 lakhs only ?

Thanks
Mukund

What are the tax implications in the following cases?

1) agriculture income 6000 p.a and non agriculture income (fd deposits/capital gains) 100000 p.a .Is it mandatory to file ITR 2?

2) agriculture income 6000 p.a and non agriculture income 1000000 p.a.Is it mandatory to file ITR 2?

I have a question:

1. I buy Crypto (VDA) from CoinDCX Exchange.
I buy using INR. (they don’t deduct TDS) but if i sell the same crypto on their website, they deduct TDS, but i am not selling the purchased Crypto on their website. Instead I transfer it to my Wallet and then sell it to some individual.

2. Now suppose i transfer the Crypto purchased from CoinDCX exchange and sell it to some XYZ person using P2P method i.e. Person to Person, so the Buyer has to deduct TDS? Or I have to deduct TDS? The amount range is between 1000₹ to 100000₹


So in this case i have to deduct TDS or the Buyer will deduct? Thanks

Sir/Mam,

TIS or AIS showing SFT06 Mutual funds Value 1,50,000/- on sale how to calculate this amount of tax in computation. in which head what is the tax rate.

Plz explain mutual funds procedure

Thanking you