Subhash Jain
This Query has 3 replies

This Query has 3 replies

22 July 2026 at 13:13

Tax on Deemed Capital Gain

Assessee had transferred property on 28-10-2022 which was purchased in FY 2012-13, Full amount invested in capital gain account scheme (CGAS) before filing of ITR on 07-06-2023. Amount was not utilized and Deemed Capital Gain accrued on 27-10-2025. Whether tax rate on LTCG applicable would be 12.5% (as per current law) or 20% (tax rate at the time of original transfer) ?

Please guide.


SHAHNH
This Query has 2 replies

This Query has 2 replies

22 July 2026 at 02:40

Type of Capital Gain

Purchased shares on 5 August 2024 and sold it on 4 August 2025.
Which type of capital gains will it qualify for.
The dates are of actual contract note.
Also found discrepancies in AIS for shares sold within 10 months still it reflects as long-term in AIS. Many costs are shown as nil eventhough purchased 2 years ago. Is their Data in AIS not updated. Is it experienced by everyone.

Thanks in advance


Kaushik Roy
This Query has 2 replies

This Query has 2 replies

The person is a salaried individual over 60 year with income from other sources. For FY 2025-26 only he has F & O Profit/ turnover of Rs. 78,000.00. Which schedule in ITR 3, he should report it -Trading or p/l account & BP?Required to fill BS? Total income apart from F&O is 65 lakhs in FY 2025-26. Is schedule AL mandatory? Mandatory to maintain books & account?


Basant Gupta
This Query has 1 replies

This Query has 1 replies

Please provide me average cost of high quality diamonds in 2001


Sayantan Chakraborty
This Query has 1 replies

This Query has 1 replies

20 July 2026 at 20:31

TAX AUDIT QUESTION

SCENARIO 1 : If a partnership firm turnover 70 lakh and profit before partner remuneration is 5 lakh also 5 lakh paid to partner as remuneration tax audit applicable?

SCENARION 2 : If a partnership firm turnover 70 lakh and profit before partner remuneration is 5 lakh also 4 lakh paid to partner as remuneration tax audit applicable?

INFORMATION : FIRM IS NOT OPTING (44AD) AND MAINATAIN REGULAR BOOKS OF ACCOUNTS


Anu
This Query has 1 replies

This Query has 1 replies

House property held by mother and daughter jointly has been rented. Daughter pays the Emi and the rental income is credited in mother's account. Can the mother show the rent income fully in her ITR or it has to be divided as per their share. Please guide


Amitabha Das
This Query has 2 replies

This Query has 2 replies

Sir I've filed revised ITR 4 on 02/07/26.I've showed all sb interest,FD int,MIS interest,ITD refund int in IFOS.But in AIS/TIS, post office Sb interest(22427/-) and post office MIS interest(27750/-) not reflecting at all till today.So my reported income in IFOS in ITR is more than amount showing AIS/TIS.Will this cause problem for ITR to be Processed and to get refund?🙏🙏🙏🙏🙏🙏🙏🙏


Hemkumarpro badge
This Query has 1 replies

This Query has 1 replies

Can A partnership Firm having turnover of 2.5 cr and cash receipts and payments below 5% declare income under section 44AD ?


Patel
This Query has 5 replies

This Query has 5 replies

18 July 2026 at 14:04

About TDS & Income Tax

Dear sir,
when A person take LIC Jivan Kishor policy of 250000/- and premium 6395/- at his age 1 year in 1993 and will mature in year 2027, now a person is recently NRI and no any other income in India. At time of maturity around Rs.750000/- of this policy will transfer to NRO a/c in 2027 by LIC, So tell me can this amount came under TDS or Income Tax? , LIC or Bank can deduct TDS of mature amount at time of maturity ?


Naveen Kumar Jain
This Query has 3 replies

This Query has 3 replies

A Business Journalist is providing editorial service to his client by editing business news and articles of interest to client's business. He is computing business income under section 44AD since editing is not part of any specified profession under 144AA. Client is deducting TDS under 194JB. His past ITR have been processed by CPC under 143(1). Can AO take a view that he should have computed income under 44ADA and issue notice under 143(2) for AY 2026-27, which return has not been processed yet, and notice under 147 for past 3 years?






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