Dear Experts my friend is going to receive immovable property sale consideration value as per sub registrar is Rs.4800000/- (Stamp duty payable is around Rs.360000) here my query is my friend is included the stamp duty value or property value in his IT returns income from other sources. and what is the income tax applicability to the donor, Please clarify the same at the earliest. Thanks in advance.

What proof or documents should I keep for my freelance income in the future so that I don’t receive any notice?

1.What are the exact conditions that must be satisfied for FTS to qualify for the 20% rate under Section 115A(1)(b)?
2.In particular, Section 115A refers to FTS received from Government/Indian concern in pursuance of an agreement and contains conditions regarding Central Government approval/industrial policy. Are these conditions applicable to every FTS payment?
3.If the conditions of Section 115A are not satisfied, what would be the correct TDS rate under Section 195 in a non-DTAA case?
4.What documents/forms are required to substantiate the 20% rate—Form 15CA/15CB, PAN, TRC, Form 10F, agreement, declarations, etc.?
5.Is Form 15CB mandatory for applying the 20% rate under Section 115A?

Sir,
A person rental income yearly rs:25 lacs composition scheme registration
Old years 24 and 25 and 26 years rental income present year 26-27 received
Question:
Treatment of gst and it returns purpose rental income transaction

Sir
Recently Income Tax Authority issued notice related to U/s 143(2) related to Financial year 2012-13 AY 2013-14.
Can IT authority do this after expiry of 12 years. Is there any Limitation clause in IT act 1961?
Regards
Abhijit

We have a Company Secretary who is a US Green Card holder and is providing consultancy services to our company.

The payment is being made to him in the USA and it is a non-DTAA case.

Under Section 195 of the Income-tax Act, at what rate should TDS be deducted on the consultancy fees paid to him?

1.My last year retrun that is for 31.03.2025 ( A.Y.2025-26) has been uploaded before due date that is on 31.07.2025 but e verification has been done now that is on 12.09.2026 and its showing invalid return also there was a tax payable of Rs.10k. Can anyone suggest what i can do. whether i have to pay the tax. is there any option to revise the return .

2. My this year return is filled on due date that is on 31.03.2026 can i use the condonation option for delay in e verification of return OR it will also be considered as invalid return . I need suggestion.

A resident entity is purchasing land in India from a Non-Resident Indian (NRI).

The transaction/payment is proposed during FY 2026-27, i.e. after 01-04-2026, and therefore the provisions of the Income-tax Act, 2025 would apply.

I have the following queries:

Which section of the Income-tax Act, 2025 is applicable for TDS on purchase of immovable property from an NRI?
What should be selected under the "New Section" and "Section Code" while making the TDS payment?
The TDS portal is showing Section Code 1057 with a 30% rate. Is this the correct code for purchase of land from an NRI?
Is TDS required to be deducted at 30% on the entire sale consideration, or only on the taxable capital gain/income component?
If the NRI has held the land for more than 24 months and the transaction qualifies as Long-Term Capital Gain, what is the correct TDS rate under the new Act?
If the seller obtains a lower/nil deduction certificate, how should the TDS be handled?

Would appreciate guidance from members who have experience with NRI property transactions under the Income-tax Act, 2025, particularly regarding the correct section and section code to be selected on the TDS portal.

The original TDS return was successfully filed under Section 140 (Form 26Q) and was initially accepted by the Income Tax Portal.
However, upon checking the status on the TDS TRACES portal a few days later, I found that the return has been marked as "Rejected". To rectify the errors and submit a revised/correction return, I attempted to download the Consolidated (CONSO) File from the TRACES portal. Unfortunately, the portal is not allowing me to raise a request for the CONSO file due to the rejected status of the statement.
What will do pls guide on this.

GOOD AFTERNOON SIR
As per the books Credit balance of GST is Rs 50 lacs but the ITC credit on GST portal is 20 lacs. It means an excess Credit as of Rs 30 lacs has been taken inadvertently which can be reversed in computation of income by deducting back to total income.
AM I RIGHT SIR