SIR
MY CLIENT HAS GONE FOR THE FIRST TIME OUT OF INDIA FOR EDUCATION IN 2024. HIS TOTAL STAY IN INDIA WAS 167 DAYS IN F.Y. 2024-25. HE HAS SALARY INCOME OF RS. 12 LAC IN F.Y.2024-25. IN FOREIGN HE IS GETTING STIPEND IN FOREIGN CURRENCY. WHAT WILL BE HIS RESIDENTIAL STATUS FOR ITR FILING? IF GLOBAL INCOME WILL BE TAXABLE OR NOT? HE HAS GONE FOR EDUCATION AND NOT FOR EMPLOYMENT. PLEASE GUIDE.

Respected Colleagues,
If a person have allotment of Plot by PUDA (Haryana) but as per installment schedule, but he delayed in making payment and paid interest due to delay in payment, Now my ques is whether Interest paid along with principal payment can we capitalise in plot or not?

Sir a person having brokage (commission) from sale and purchase of immovable property (individuals not registered under any act)
my query is
show income under other source?????
or income us 44ad????
please suggest
Regards
Vikas

WHILE FILING ITR 3 THROUGH DESKTOP UTILITY,THERE IS ERROR IN UPLOAD LEVEL VALIDATION.
ITR3/ScheduleEI/OthersInc:required key [Nature ofDescDivName] not found
PLEASE HELP TO RECTIFY AT THE EARLIEST AS DUE DATE FOR FILING OF INCOME TAX FILING IS APPROACHING NEAR.
THANKS & REGARDS
LTPGOLDIERAO

Dear Experts,

While validating ITR 3, it gives error for quarterly breakup of dividend not tallied. I have done that number of time and confirmed but while validating it gives the same error and clicking on the same error message, entire dividend amount comes in first column and rest of the figures remain same as per quarterly bifurcation in item 10 of schedule Other Sources.
How to resolve this issue?

Please guide.

Dear Sir/Madam,

I have received income and TDS deducted us 194C. I am putting this income under 44AD and show 10% profit. However, I have loss in F&O trading. now, if I will show F&O trading loss in the income form business profession under regular business income then does it make any problem? and have I to show loss directly under direct expenses head->other direct expenses ?
how to show balance sheet because 44AD showed only debtors and cash in hand as regulars books of accounts not maintained to file ITR-3. Now I am showing F&O loss then have to show balance sheet again the regular business income head ?

I had booked an under construction flat approx. 5 years back. I got allotment letter from the builder and made various payment (approx. 50% of the flat value) on various dates against demand notes raised by the builder. However, a dispute created by the builder when I asked for the agreement for sale. He increased the price which I refused to pay. I filed case in consumer court as builder has neither refunded the money nor signed Agreement of Sale. After 4 years of legal battle, court ordered the builder to refund the money with interest. Now, I got the money with interest.

I like to know whether interest given by builder is taxed under Income from other sources or Long Term capital gain from house property (as I had originally booked the flat for own residence)

hi,
as per my knowledge, income from LTCG is Exempted u/s 10(38)..so do i need to mention the LTCG amount in CG statement and in EI both? as i have mentioned in CG and it under EI but it is still showing the tax on LTCG in TTI...what should i do so that it will not calculate the Tax in TTI?

Long term capital gain from ELSS fund which is Free-Free-Free in nature. Where to show in ITR-2

One of my client is a NRI and she sold a property on 2.4.2024. The property was purchased in 2018. My query is what will be the index for AY 25-26. Whether it is 363 or 376. Although the portal shows it is 363, I recall a news came in Patrika where it was reported that if one makes sales of a property before 23.7.2024 , then the index will be 376 instead of 363. Can anyone explain please.
SNU