Sir/Madam

Can we claim two year travelling expense under LTA Concession??

Please share details provision of LTA for the fy-2021-22.

One of employee claim two year travel expense under LTA provision for the fy-2020-21!! It is valid or not.

provide me section for LTA Provision as per income tax act.

Hello friends..
I have query releated to section 45(2) .. If I have agriculture land and I sell it by individual Residential plots after converting to n.a
.. how would LTCG and business profit would be calculate and can we save it by investing in bonds

while filing return of income can a salaried person change his option to new regime even though his form 16 is as per old regime.

Assessee is proprietor.
She has 3 firms.
1st: Professional income from Company Secretary practice.
2nd: Business of supplying workers, who are on firm's payroll, to engineering sites
3rd: Trading in agricultural products like Mangoes, Mango Pulp.

In ITR3,
Considering she has 3 different businesses having 3 different GST numbers,
Whether Section 44AA should be set to Yes?
Whether Section 44AB should be set to Yes?
Whether all business codes should be shown? or
Only one of the above should be shown?

While uploading ITR3, getting Schema Error relating to nature of business section and general section. Error message is in java language and hence, unable to understand fully.

Sir, while filling Balance Sheet for one of my client in ITR 3, in which head following should be filled :
a) Capital in Partnerhsip Firm - Whether it is a Other Current Asset or investments or ?
b) Fixed deposits/NSC/KVP etc. - Whether Investments or ?
c) Household Effects/Assets - Fixed Assets or other Current Assets
d) Advances received for sale - ?????
e) Advances paid against purchases - ??????

Dear Sir / Madam,

My query is related to Long term capital gain on sale of property.

1) Mr A has purchased 2 adjacent flats in March 2021 in joint ownership with his wife. He combined two flats and made as one flat with one kitchen. The society issues two separate maintenance bills for each flat.

He has sold his 1 flat, which was in joint ownership with his Mother Mrs B, in
December 2021. Thus, he is eligible for claiming capital gain tax exemption u/s 54 as the 2 flats were purchased by him 1 year before this sale.

In old property, which was sold, The mother's name was added to take the benefit of lower interest housing loan which was given to woman borrower. But the housing loan repayment was made by Mr A only.

So my questions here are that:
1) Can we show 2 adjacent flats as one home purchased against sale of the property for Mr.A??

2) Can we consider share of Mrs B in flat as 5% only while calculating the capital gain, as she was joint owner for namesake??

3) or its okay if we show entire transaction in Mr. A's return only, without showing anything in the return of Mrs B, though her name was there in both the purchase & sale agreement of old property.


The same Mr A is selling his ancenstral property now and investing in another new house.
Can he claim capital gain tax exemption on this sale also, being a separate trasanction??

Kindly guide.

Thank & Regards,
Suraj

we are facing a crucial problem while filing the return for the Assessment Year 2021-2022 and the problem is when we tried to upload the Return through offline and online mode and after attaching the excel or Jason file in both the cases we are facing validation error message from portal in both the cases and when we tried to connect with IVRS help desk number after mentioning the numeric value of PAN and Date of incorporation value it has been told through IVRS that the PAN and Date of incorporation is not matching with the Department database.

I have 4 scenarios causing confusion on what amount I should deduct TDS on. I will list the scenarios below. Please kindly clarify....

1.The purchases for a client is above 60 lakhs from april to june 2021. On july, purchases worth 20 lakhs were made.

2. The purchases started from august. It was Rs. 39 lakhs. On november the purchases worth 59 lakhs were made.

3. The purchases upto june was 24 lakhs. On july, purchases worth 1 crore were made.

4. On august, purchases worth 54 lakhs were made & Tds was deducted. The september purchases were only 10 lakhs. Should Tds be deducted on the 10 lakhs?

Purchased a property, constructed some flats on that property now selling individually.

Query 1 . How to calculate capital gains on it?
Means what will be the cost of purchase as plot was purchased and now we are selling in part.
Lets say 100 rs property was purchase and now being sold @30*4, some will be sold now some to be sold later on. So how to arrive at capital gain for the purpose of Income tax.
Query 2. Is cost of construction allowed if paid in Cash, runs in several lacs.

Thanks

Excess paid Interest .5 can be claimed for Next delay of Deposit Of TDS because we have to calculate interest @ 1% instead of we deposit Interest 1.5%.