Dear sirs. We are filing the updated return for NRI for ay 2023-24 ITR 2. Senior citizen while calculating tax interest under section 234 A b c not calculated as it is coming automatically in general. Tried many times but persons aged below 60 it is calculated. How to rectify this error in forms. But ITR IS VALIDATED BUT without interest how’s to file. Pl advise

if order passed by AO, then what is time limit for rectification of such order?

in a case of redevelopment of co.op housing society the bldr has give the member of the society
1.garage hardship compensation tothe members who have surrendered garage a sum of rs.2400000/- samp duty value rs.3109906/-
2 flat in lieu of flat surrendered with xtra room.
3.displacement hardship compensation.
4. member corpus fund to each member
5. brokerage
6. shifting charges
7. rent till the new flat is handed to the member
how will the liability for income tax be calculated? if no rent, brokerage , shifting expense is not incurred will the calculation of liability for tax change?

I have filed ITR1 FY.2023-24 but get defective due to 26AS showing 94C deduction. Deductor also changed to 94J now. Response time also over what should I do please help me in this

is there any way, we can surrender trust's 12A and 80G registration ?

Hi All

If existing private company issue shares at face value (even though FMV is higher than FV), what are the income tax implications of the same in the hands of transferor and transferee?

Thanks in advance.

Hi sir

I have inherit a land on 01.08.2023 which was purchased in the year 2001 , sold the land on 15.12.2024. should i calculate holding period from 2001 or it is from 2023? and can i get deduction u/s 54 against this land

if income is :-
1 lakh income from other sources
2 lakh short term cap.gain from sale of equity share via listed exchange
49 lakh long term cap.gain from sale of equity share via listed exchange
----
52 lakh total income

how tax will be in (new regime for individual below 60 years) because, Long term cap.gain will be sepserately taxed at 12.5% plus surch + cess, right?

also, what is order to absorb within basic limit? 1st short term then long term righT?

my view:-
there will be surcharge but confused, as non-long term cap. gain is less than 50 lakhs.
(strangely,tax calculator after logging in income tax efiling is not showing quick links).

Me and my wife have purchased land on 17.09.12 by Rs. 23.32 lacs and 23.17 lacs seperately and sold it by Rs. 55.88 lacs & 54.57 lacs on 23.12.2021. By the amount of Capital Gain we have Purchased a Residential property Jointly in the name of my wife and myself amounting Rs. 68.24 lacs and claim exemption u/s 54. But in the assessment CPC Bangalore rejected the claim u/s 54 without any reason and issued demand notice to both of us. Would u pls suggest , what should I do now ??

I have purchased a land on 17.09.12 by Rs.23.00 and sold it by Rs. 53.88 lac on 23.12.2021. By the amount of Capital Gain Rs. 19.00 lac I have Purchased a Residential property Jointly in the name of my wife and myself amounting Rs.34.00 lacs and claim exemption u/s 54. But in the assessment CPC bangalore not excepting the claim u/s 54 and issued demand notice. Would u pls suggest , what should I do now ??