Mr. X has a plot in his books of accounts which was shown as stock in trade. Now, If Mr. X has relinquished their rights against his relative of this plot. Is it valid?
1. It should be treated as capital gain or stock in trade?

I received VRS receipts along with gratuity amount Rs 1675200/- and Rs 198420/- respectively in FY 2024-25. My employer deducted tax on my VRS receipts [on Rs 1675200/-]. Then how much exemption from my VRS receipts should I claim in my Income Tax return for AY 2025-26???

In FY 2022-23, In AIS amount shown by Bank
1) SFT (003) Cash deposited Rs. 0 Actual amount deposited Rs.580000/-
2) SFE (003) Cash withdrawal Rs. 1100000/- Actual amount Rs.1194000/-
How to respond to the department.

At the time of verification of an ITR1 for the A.Y. 2025-26, a message comes (#/ITR/ITR1/REFUND/BANKACCOUNTDTLS/ADDTNBANKDETAILS/5/ACCOUNT TYPE: IS NOT A VALID ENUM VALUE).
Kindly help me by providing your valuable direction to overcome the said errors. Your kind help is highly solicited. Regards, Tarak Kumar Roy, 150/1/1, Banerjee Para Road, P.O. Naihati – 743165, Dist.24Parganas(n), west Bengal

I have 2 company, Payment of TCS on sale of good of one company but wrongly I paid TCS from another company. Then how can I get the refund amount.

Please suggest on this matter.

I am a beneficiary of Ladki Bahin Yojana and I have registered an e-Filing Income Tax Portal account as a taxpayer for Aadhaar PAN linking, can this disqualify me?

Please guide the steps to obtain the TRC Certificate and Form 10F for Non-Resident Companies.
Which details are required to obtain above both certificates.

which tds section applicable for this sac code 998586

Dear Sir,

A Pvt Ltd company applied for Fully certain Fully Convertible Debentures of B Pvt. Ltd. on which 150lacs was due on application and allotment and 150 lacs on 1st Call.
A Pvt. Ltd paid 150 lacs on application but failed to pay call money of 150 lacs despite repeated reminders and B Pvt Ltd as a consequence of non payment of call money forfeited the 150 lacs paid on application and allotment.

Queries:
1. For B Ltd is it a capital profit hence not taxable.
2. For A Pvt. Ltd. what is the accounting treatment of debenture application money of Rs 150 lacs forfeited. Can it be claimed as loss and A Pvt. Ltd. and can take tax benefit on it.

3. What if a third company C Pvt Ltd wants to take over/merge with A Pvt. Ltd. can it take tax benefit of loss in the books of A Pvt Ltd on account of loss on forfeiture of debentures and carry forward the loss up to 8 years

Please share your views.

Thanks
PC Joshi

I HAVE INVESTED IN UTI MUTUAL FUNDS ULIP PLAN OF 15 YEARS WEF 07.10.1993 TO 07.10.2008
iNSTALLMENT PAID EVERY YEAR RS.3000 X 15 YEAR = TOTAL AMOUNT INVESTED RS.45000/= 9TARGET AMOUNT)
I HAVE DONE REDEMPTION ON 24.04.2024 AND RECEIVED RS.450032.76
I AM SENIOR CITIZEN (77 YEARS

I WANTED TO KNOW THAT THIS AMOUNT IS TAXFREE OR I NEED TO PAY ANY LONG TERM CAPITAL GAIN WITHOUT ONDEXATION OR WITH INDEXATION.
REQUEST YOU TO PLEASE GUIDE ME PROPERLY