Rahul Chauhan

TRACES 26AS for AY 2024 to 25 correctly shows Tax Deducted at Source under section 192 deposited by TAN No. DELO02509D is Rs. 119080 and by TCS under section 206CL deposited by TAN No. DELC23000F is Rs.10040. This Tax total tax credit amounting to 1,19,080 and 10,040 totalling Rs. 129120 is correctly claimed in ITR2 for AY 2024 to 25. I have already filed rectification with return data correction on 04-02-2025 and still i have received the same demand outstanding. Kindly provide me assistance why my tax credit is being disallowed, inspite of entering the data correctly as per form 26AS.


binu sukumaran
07 February 2025 at 12:45

New update in 44AD

Sir.
I heard new update in Income tax for small business group.
1. No income tax for income up to Rs. 12 lakhs under new tax regime.
our business turn over is around 1.75 crores . and 100% online fund transfer . taxable income comes (6%) 10.50 lakhs . in this case ,whether need to pay income tax .
2. turn over limit is increase from 2 crores to 3 crores .
is it correct .
Please advise
with regards
Binu


Jayantilal Jain

Sir,
I have purchased debt mutual fund in 2014 and want to sell(Redeem) in February 2025.)
What will be tax liability


MATTA CHANDRA SEKHAR
06 February 2025 at 19:13

LTCG IN SHARES

Sir,

Please clarify:
Whether is it taxable if LTCG in shares exceeding the limit of Rs 1,00,000/- and below the taxable income(Assuming no other income)


MATTA CHANDRA SEKHAR
06 February 2025 at 15:51

BUDGET HIGHLIGHTS

Sir,

Please share Budget Highlights.


Ashim kr Ray
06 February 2025 at 14:50

Unsecured loan with no interest

a person whose turnover is more than 2cr has taken a unsecured loan.
Is it necessary to give interest on that loan.
if not paid any consequenses.


NASEEMA Spro badge
06 February 2025 at 14:43

Condonation of delay for filing ITR

For one of our client for FY 2021-22 we got condonation order u/s 119 from CBDT. But we are not able to file the IT return due to lack of DIN no., on it. Even we met Commissioner, AO multiple times regarding this issue no one was given a proper answer.

What is the remedy for this ? To whom we need to consult?


Swami Thakur
06 February 2025 at 12:10

Letter Format for Jurisdiction change

Letter Format for Jurisdiction change


vipin minocha
06 February 2025 at 11:30

LIMIT FOR FOREIGN REMITANCE

ONE OF MY NON RESIDENT INDIAN CLIENT HAS ALREADY SENT 158000 USD OUT OF TOTAL SALE PROCEEDS OF HIS SHARES IN THIS FINANCIAL YEAR . HE WANT TO SELL HIS RESIDENTIAL HIS RESIDENTIAL HOUSE IN INDIA AND WANT TO SEND 270000 USD TO USA. DUE TAX @ 23% HAS ALREADY BEEN DEDUCTED AND PAID. KINDLY ADVISE.


Hafiz
06 February 2025 at 11:02

Capital Gain Tax on Foreign Citizen

A Foreign citizen selling a property in India acquired by will of his parents. The total consideration will be around Rs. 1.75 crores. What will be the Income tax applicable to him on Capital Gains?

"Sale is happening after 23.07.2024"

What will be the TDS that to be deducted by the buyer against this deal?





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