Dear Sir,

One of my client has incurred Long term capital loss for shares sold in F.Y. 2020-21. He has purchased the shares in F.Y. 2012-13.

Do I have to fill Schedule 112A in such a case as normally incase of profit the schedule is required to be filled up.

Please help me in this matter.

Regards,
Divyesh Jain

I filled data in ITR2 online E filing under Schedule OS dividend received amount in item 1.a and then filled quarterly break up in item 10. Information about accrual/receipt of income from Other Sources under S.No.1. and CHECKED IT TALLIED WITH TOTAL IN ITEM NO.1 and then clicked confirm button and came out and also duly got all schedules with green tick and confirmed.
In the next login, filled data disappear in itr2 form item 10 in schedule OS. Again and again I am doing this and again and again it (only the break up detail in item no.10) (not in any other item in the entire ITR2) disappears during next login always. I want to know if anybody faced the same problem and want solution.

Sir I want to know the TDS Applicability in Respect of the following cases

I have made an advance payment (Nature 194J) of Rs. 100000 against Performa invoice during the FY 2020-21 and from the advance I have deducted and paid Rs 7500 (100000 @ 7.5%). But original invoice received during the current financial year 2021-22 at Rs 150000 plus tax. What amount of TDs should be deducted and paid during the current financial year. Whether Rs. 5000 (150000 Minus advance payment of Rs. 100000 @ 10%) or 7500 (150000 @ 10% minus TDS already paid @ Rs. 7500)

My son has received Rs10 Lac from Fund Raiser Website of MILAAP and 8 Lac directly from well Wishers in son's saving account.
1.is there provision to apply IT Authority for exemption on donations received from above said 2 sources for cancer treatment. Power to IT authority under which section.?
2. Anyway to save income tax?

Sir,

I want to know the TDS Applicability on Professional Service in the following cases.

I made an Advance Payment against Performa invoice of Rs. 100000 during the FY 2020-21. TDS Deducted and Paid was Rs. 7500 (100000@7.5%). But I have Received Original Invoices during the Current Financial Year 2021-22 at Rs. 150000. What Amount od TDS to be deducted and paid during the Current financial year. Whether Rs. 5000 (150000-100000 =50000@10%) or Rs. 7500 (150000@10%=15000 Minus Advance TDS of Rs. 7500.
Please clarify...

Can huf gift to it's members? What will be the tax liability and impact will be whom?

A trust was created for charitable purposes, but it was not granted recognition under section 12. So it is an unregistered Trust for income tax purposes and is filing ITR 5 as AOP. Now the trustees are deciding to dissolve/ cancel the trust, as the trust is no longer able to carry on any activities / objectives as per trust deed and its funds are exhausted. Please advise what formalities it has to observe for dissolution?
1. Do the trustees have to pass a resolution for dissolution/ cancellation of Trust?
Is such resolution to be also submitted and registered with Registrar of Trusts like an amendment of Trust Deed?
2. Any documents/ resolution to be submitted to ITO/ NSDL along with surrender of PAN card?
Is the bank account to be closed? The trust has more liabilities than bank balance and its assets. So after paying off creditors, bank balance will be NIL.

For loan loan disbursement, section 281 declaration for all the properties is required, does it has to be issued by jurisdictional AO or is there any format for it? If yes, then please share it with me.

Thanks in Advance.

Dear sir/madam,

We would file an appeal against the order passed u/s 153C.

But thing is that this order contains the mistake and eligible for rectification also.

The question is that, if we file rectification application first and the same application is rejected in the sense, are we eligible to file appeal case where we have asked to rectify.?

Or
Appeal should be filed against the rejection order of rectification?

Is time period is not considered for time spent between filing rectification application.

Thank you in advance

Sir,

Please clarify for filling of i.tax return.

SFT- 003: Cash deposit or withdrawals in current account -more than 40 lacs in fy 2020-21

Need to show taxable income while preparing tax return??