Hello CAclubIndia Team:

I bought a plot of land some years ago and sold the same last year. Since I am an NRI, I had to travel from my overseas residence every time during (a) Booking (b) Registration (c) Negotiations and (d) Sale.

Can I include my travel cost (airline tickets) / Hotel stay in the cost of acquisition and sale?

Also, if I paid my CA for applying for Form 13, can that be included in the cost as well?

Regards.

One of my clients (SANSTHA) has not filed a return till now. Suddenly when the committee changed, he received a notice which assessed his donation of Rs. 50 lakhs for FY 2015-16 with a demand of Rs. 70 lakhs along with 30% tax and penalty on the total income. After that, he filed the return for the year 2023-24 for the first time.

He does not have 12AA & 80G
Is there any way to remove the penalty or to reduce the penalty to a minimum?

I sold an apartment in a 30-year-old building after holding for 23 years in April 2025 to cover my daughter's marriage expenses. Can I show improvement costs after indexation to reduce LTCG? I had about 8 tenants during this 23-year tenure. For every new tenant, I got the apartment freshly painted with minor plumbing works like changing taps, doors, and commode, etc. Can I take these expenses for improvement costs?
During 2002, before occupying the apartment by doing a vastu pooja. I made a few alterations to the walls and included the balcony in the master bedroom to get more carpet area. Can these costs be included towards improvement?
Please advise In detail?

I’m converting a partnership firm into a private limited company. The firm has capital of Rs. 2.5 Cr. After conversion, can the company be incorporated with authorised capital of Rs. 10 Lakhs and the remaining Rs. 2.4 Cr treated as an unsecured loan from the partners (who will be directors/shareholders)? Will this affect the exemption under Section 47(xiii) of the Income Tax Act?

Hii..
My son is 2 years old. Usually during festival and other occasions he get gift (money) from relatives. Can i open bank account in his name and deposit cash in that account and use that money for LIC in his name?

Will it be clubbed in parents ITR?
Is their any other better investment option for children's?

WE OPTED IN 44AD SCHEME
AND PURCHASE GOOD FROM MSME
SO THIS SECTION WILL APPLY OR NOT
THANKS IN ADVANCE

I want to know if company can pay employees fuel reimbursement and internet reimbursement as allowances outside of cost to company. What is maximum permissible amount that can be allowed as reimbursement to employees?
Can company reimburse employees cab or auto expenses instead of fuel reimbursement ?

In TDS 24Q Q4 return, Amount reported as per section 192(2B), of other tax deducted at source or tax collected at source, other than (388)- getting this error. Its not accepting 0 value and says its manadtory. How to resolve this pls?

a property is purchased by 3 persons A, B, C.
value of property is 30000000
while filling 26QB Challan
value of consideration wil be shown as 30000000
in buyers details more than one buyer shall be yes
in property details
total amt paid / credited in previous instalments if any
the first buyer A haas paid and amount of rs. 3000000
The query is the buyer B while filling the 26QB what is the amount to be filled
in total amt paid / credited in previous instalments if any?
should it show rs. 3000000/- paid by A or only the amounts paid by B?
Is the amount to be shown in column payments related to property or the amounts paid by each buyer intotal amt paid / credited in previous instalments if any is it only his share of payment made previously to the seller.

Dear Sir.

We have purchased Some Bit coin tds deducted under Section 194S Please suggest how to pass the entry in books of accounts

Thank you