Dear Sir, while depositing Tax for AY 22-23 I wrongly deposited Tax In Ay 20-21 (Section 400) Amounting to RS 70202 . How can i Correct the challan & claim refund.

I AM SELLING UNQUOTED EQUITY SHARES LESS THAN THE BOOK VALUE. HOW TO WORK OUT OUT THE LONG TERM CAPITAL GAIN TAX. IS THERE ANY MISTAKE IN TAKING THE ACTUAL SALE AS SALE CONSIDERATION WHILE WORKING THE TAX.
ONE MORE THING, CAN I PAY CAPITAL GAIN TAX AT 10% WITHOUT INDEXATION. STATUS IS RESIDENT.
KINDLY HAVE YOUR OPINION

Query 1. 44ADA and ITR under Normal provision.

I had disclosed income under 44ADA in AY 21-22. Now in AY 22-23 I want to opt out of 44ADA and disclose income by filing return under normal provision giving all the details of P&L and B&S declaring income less than 50%. Can I show it by filing ITR 3 or do I have to file ITR with audit since income is less than 50%.


Query 2. Is Franchise income is Professional Income???.

Client has franchisee of Pathology Lab and has blood Collection Center of Pathology Lab. TDS is being deducted under 194JB. The nature of income is not profession as such because it is only a collection centre. I thought to show it as business income but I feel ITR will not get process since TDS deducted under 194JB. What can be the appropriate measure in this regard.

I am holding unlisted which were purchased more than 40 years ago. I had 1,500 shares which were reduced to 900 shares on capital reduction.
How to calculate tax liability on sale of these shares?
Is there any basic exemption limit?

Regards
P S Gupta
Mail id: psgupta1@gmail.com
Mobile: 9903479357

Educational Institutions turnover above 2 crores shall we file IT Return claiming exemption u/s 10(23C)(iiiad)

Dear Sir,
Please suggest Comparative Figures and frame work so that its easy to me for audit
Assessee has not disclosed the
comparative figures in the books of accounts as required by the framework of ICAI related to presentation
of financial statements

what is the process for condonation of Delay if Trust had filed late form no. 10B? In how many days condonation of delay will be given?

Dear Sir,

Kindly Suggest what is the meaning of Records Necessary to Verify The Transactions of personal nature were not maintained by the assesses.

I have submitted a nill return for AY 21-22 u/s 139(1) to avoid late fee u/s 234F. Later i have submitted a revised return opting for new tax regime and offered a income of Rs.14 lakh and tax was paid accordingly, while i was uploading my revised return there was no error message. But the return is processed now and i have received order u/s 143(1) mentioning a demand, after analyzing the order i came to know that tax was calculated in old regime. But in case of AY 2022-23, portal shows an error that "New tax regime cannot be opted after the due date", Is there any solution to reduce the demand for the AY 2021-22?

Sir,
Suppose a Builder wants to sell a Commercial Unit/Office Rera Carpet 31.43 sq. mtr to Mr X with One Car parking free of charge i.e. Agreement value is with out Car Parking ( mentoning in the agreement that the One Car Parking is provided free of Cost)
The RR Value of Unit + Carparking ( Rs. 75,07,000+ 6,85,000) is Rs. 81,92,000/-
My question is if Agreement is registered for (75,07,000/1.10) Rs. 6824545/- is Ok
should be registered for 74,47,273/- [ 75,07,000+6,85,00 = 81,92,000/1.10) to be out of the purview of Section 43CA , it is within safe harbour.

Please explain