I have been staying in a property (flat) which was owned by my mother and built in 1970s. My mother passed away in 2019 and I continued to stay in the property. In the WILL which she made, mentioned that the flat in which I was staying, to be given to me. Other flats to my brother and sister. The Will is yet to be executed and no mutation of property is done as of 31Mar22. Do I need to show the property as one of the assets belonging to me in Schedule AL (if income more than 50Lacs)?

Sirs,
I have completed property sale in FY2022-23. As I understand, ALL the sale related proceeds & TDS need to be shown in FY2022-23.
However, I received a token amount in FY2021-22, wherein TDS (1%) was witheld. This appears in my 26AS statement fof FY2021-22.
My question is regarding 'how to show TDS deducted in FY2021-22'. Should I just not show this TDS in FY2021-22 filing, and include it in FY2022-23 filing?
OR
There is a provision to actually move FY2021-22 TDS entry to FY2022-23 (on the IT eFiling site).

Thank you

Dear Expert,
Please guide on below mentioned issue:-
I am a private employee and I contributed Rs. 35000/- in NPS Tier-1 in FY 2021-22. In, my ITR, I am showing the same U/s 80CCD(1) to claim deduction. But in eligable amount it is showing only 31667/-.
May you please guide, where I am doing mistake ?

Thanks

Assessee is a bank manager entitled for 50L petrol as conveyance allowance. He is using around 35L(varies from month to month) exclusively for meeting his clients and for other official purposes. As per form 16 part B ,the entire cost 50L of petrol is added to his total salary.

Kindly clarify the following:

Whether he is eligible to claim Sec 10(14) for 35L, as per rule 2BB.

(c) any allowance granted to meet the expenditure incurred on conveyance in performance of duties of an office or employment of profit :
Provided that free conveyance is not provided by the employer;

In case this is not permitted, What is the appropriate treatment for such allowances.

Dear Sir,

In May month 2B reflect some access ITC Rs.2250 ITC as per 2B Rs.12250 I have claimed Rs.10000 Goods ITC in 3B please suggest can I do anything for Rs.2250.

Sir,
One of the cloth business person sales and purchases transaction amounts receipts and payments through on UPI mode receipts rs:25 lacs and payments rs:15 lacs one financial year savings bank and current account bank in f.y.21-22.
Question:
UPI mode receipts and payments transactions limit one financial year under it act for saving bank and current account.
2.a person it returns filed compulsory in f.y.21-22.

Hi All,

Did anyone file ITR2 via zerodha quicko. it is giving below error when I click on E-file option:

[{"error_code":"Digest_Invalid","message":"Modification to ITR details outside Utility is not allowed."}]

Kindly let me know if there is any workaround for this.

Hi Friends,

One of our client got an offer to sell their stake around 25% for 100 crore to the outside investor. following are my queries;

1) How to arrive the FMV? Date should be current date or 31/01/2018?
2) Long term capital gain tax at 10% without indexation?
3) Can we claim the full tax exemption us 54F ?
4) is their any other Investment option to the seller so that he can save capital gain tax to maximum extent?

Dear Sir/Madam

Sir I have foll.question regarding sell of shop kept as investment since last 5 years or more-

I was earn monthly rent of my own shop and I was showed in my tax return.
I was buy this shop of Rs.8,lacs (as per sales deed, actually I was paid in total of Rs.12 lacs at that time) now today I have plan to sell this shop and its market value around 20 lacs.
I have foll. Question-
 Capital gain tax applicable on sell of shop in this year??
 How much cost of purchase i.e Rs. 8 lacs or Rs.12 lacs??
 I will have to plan to make sale deed for sell of this shop around Rs.15 lacs and remaining balance amount of Rs. 5 lacs will pay in cash by new buyer, is it possible?
 I have to make sales deed full amount of shop i.e Rs.20 lacs?
 What is sales consideration for me i.e Rs. 20 lacs or Rs.15 lacs??
 Legal expenses incurred during buy and sell of shop is eligible as expense while calculation capital gain tax??
 What is the Capital Gain Tax Rate for fy-2022-23??



Request to give answer of my all doubt at earliest

How to calculate interest u/s 234ABC