WE WAS TAKEN PROVISIONAL REGISTRATION ON DATED 31-08-2021 IN BOTH CASES 12A AND 80G . BOTH PROVISIONAL CERTIFICATE ARE VALIDE FOR AY 22-23 TO AY 24-25. ON DATED 03-04-2024 MY PERIOD WAS EPIRED OF PROVISIONAL CERTIFICATE. MY QUERY IS THAT WHICH FORM IS APPLICABLE I.E FORM 10A AND FORM 10AB. IF FORM 10AB IS APPLICABLE. THEN WHICH SECTION CODE IS USED FOR 12A AND 80G FINAL REGISTRATION ALONG WITH REASON IN CASE OF PROVSIONAL REGISTRATION PERIOD EXPIRED.
01-Sub clause (ii) of clause (ac) of sub -section (1) of section 12A
02-Sub clause (iii) of clause (ac) of sub-section (1) of section 12A
03-Sub clause (iv) of clause (ac) of sub -section (1) of section 12A
04-Sub clause (v) of clause (ac) of sub-section (1) of section 12A
4A-Item (B) of sub-clause (vi) of clause (ac) of sub-section (1) of section 12A
05-Clause (ii), of first proviso to clause (23C) of section 10 (for applicants covered under sub-clause (iv) of clause (23C) of section 10)
06-Clause (ii), of first proviso to clause (23C) of section 10 (for applicants covered under sub-clause (v) of clause (23C) of section 10)
07-Clause (ii), of first proviso to clause (23C) of section 10 (for applicants covered under sub-clause (vi) of clause (23C) of section 10)
08-Clause (ii), of first proviso to clause (23C) of section 10 (for applicants covered under sub-clause (via) of clause (23C) of section 10)
09-Clause (iii) of first proviso to clause (23C) of section 10 (for applicants covered under sub-clause (iv) of clause (23C) of section 10)
10-Clause (iii) of first proviso to clause (23C) of section 10 (for applicants covered under sub-clause (v) of clause (23C) of section 10)
11-Clause (iii) of first proviso to clause (23C) of section 10 (for applicants covered under sub-clause (vi) of clause (23C) of section 10)
12-Clause (iii) of first proviso to clause (23C) of section 10 (for applicants covered under sub-clause (via) of clause (23C) of section 10)
12A-Sub-clause (B) of clause (iv) of first proviso to clause (23C) of section 10( for applicants covered under sub-clause (iv) of clause (23C) of section 10)
12B-Sub-clause (B) of clause (iv) of first proviso to clause (23C) of section 10 (for applicants covered under sub-clause (v) of clause (23C) of section 10)
12C-Sub-clause (B) of clause (iv) of first proviso to clause (23C) of section 10 (for applicants covered under sub-clause (vi) of clause (23C) of section 10)
12D-Sub-clause (B) of clause (iv) of first proviso to clause (23C) of section 10 (for applicants covered under sub-clause (via) of clause (23C) of section 10)
13-Clause (ii) of first proviso to sub-section (5) of section 80G
14-Clause (iii) of first proviso to sub-section (5) of section 80G
14A-Sub-clause (B) of clause (iv) of first proviso to sub-section (5) of section 80G
GUIDE ME ON ABOVE MENTIONED ISSUE

DEAR SIR,

IT'S NOT MANDATORY TO FILE FORM 10IEA FOR SALARY INDIVIDUAL OR THEY JUST CAN CHOOSE NEW TAX REGIME TO FILE INCOME TAX RETURNS.

ONLY BUSINESS OR PROFESSIONAL INCOME TAX PAYER MUST FILE FORM 10IEA FOR OPTING NEW TAX REGIME.

WHAT WILL HAPPEN IF AN INDIVIDUAL PAID ADVANCE TAX BY SELECTING WRONG MINOR HEAD MEANS U/S 115TD?

YOUR GUIDENCE IS VALUABLE

THANKS

Hello Team,
If agreement value is of 19364480 and there are 2 buyers(66% & 34% ratio) and 1 seller.
So what should be the values in below 3 fields in each form 26qb?

If i give below values in each form 26qb ,it is giving me error "Warning : Please enter proportionate share of Stamp Duty Value." Also the 1% TDS Amount is not coming automatically for me, so i do need to manually enter and move ahead?

Total Value of Consideration (Property Value) * 12815960
Amount paid/credited currently (B) * 12815960
Total stamp duty value of the property (C) * 12815960

Total Value of Consideration (Property Value) * 6548520
Amount paid/credited currently (B) * 6548520
Total stamp duty value of the property (C) * 6548520

Which is the correct values? Can anyone please guide?

As per section 54, one can sell old property either two years before or one year after purchase of a new residential house for the tax benefit. But for construction of the same new residential house, it mentions only of sell of old property three years prior to construction of new house? Do I have one year time after construction of the new house to sell the old property like in the case of purchase of the house? If not, why such step-motherly treatment in case of construction of house? It is common sense that one must build the new house before he can dispose of the old one. As per the funding, one can take home loan and then pre-pay the loan from the proceeds of the sale of old property, thus utilizing the sale towards newly constructed house only. Is Income tax department to stringent on the wording of the missing clause (not allowing reasonable time after construction of properly for selling) in the section 54 which just seems like stupid omission by the law makers?

Proprietor firm mein wife ko salary dikha sakte hain ?

Sir,
A Doctor maintained a private hospital and pharmacy Stores
Cash balance as on dt:30-03-24 rs:40 lacs as per hospital account books and physical verification cash rs:35 lacs
Cash balance as on dt:30-03-24 rs:30 lacs as per pharmacy Stores account books and physical verification cash rs:32 lacs
Question:
Assessess excess and shortage cash amount deposit in bank account as on dt:31-03-24 compulsory.

Hello.

If a NRI has less than 10 lacs of income per annum in India but decides to sell his/her property with LTCG of more than 50 Lacs, how would he/she be taxed?

Would the income exceed the 50 lacs surcharge threshold in this case or LTCG would be separately taxed at 20% without including in the total income?

We have a Provisional Registration of form 10AC in Section 12 for A-Y 2024-25.
So will we be applicable to file form 10A before 31st March 2024 or after that.
When can we file it?

Will deemed be attracted in the following arrangement:

A pvt ltd company transfers money in partnership firm as its capital contrirbution in the capacity as a partner and the same amount is withdrawn by another partner who is a director and shareholder in the said pvt ltd company.
But shareholding is less than 5%

If not deemed dividend, does any other provisions/consequences apply in the said arrangement?

Hello I have queries regarding taxation on property.

In this financial year, bought an Under-construction property - joint ownership - home loan EMI ongoing.

1. Is the principal component of EMI deductible under 80C for under-construction or is it deductible after completion certificate in 5 installments like the interest component.

2. After discussing with the developer, the overall property value has decreased . However , since sale agreement was registered and subsequent TDS were paid on demands, what will happen to the remaining stamp duty (on which value will the rest stamp duty be charged on) and TDS correction in 26QB?