Hi Sir / Madam,
My in-laws are selling their Delhi property and buying an under construction flat.
Details are:
1. Selling property is in the name of Husband n Wife
2. All payments were made by the main applicant only ie., Husband while acquiring the property.
3. Husband is a pensioner and files ITR regularly / yearly
4. The payments to the new / under construction property are to be paid in specified installments as per the completion of project.
5. Majority (70%) of payments to the builder will have to be made by March'27.
Now, the query is,
1. Is it required to show the transactions relating to Sale n Purchase in the next IT returns? ie., AY 2026-27, as balance portion (30%) will be paid to the builder, in the next FY.
2. How to manage the Capital gains which is balance? (as the major portion is consumed in the new property) Do they need to open any CG account separately for this amount?
3. The payments are being transferred to both the owners of the sale property.
I need your guidance.
Best Regards

Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust with Section 12A and 80G Registration

I have a charitable trust registered under Section 12A and approved under Section 80G of the Income Tax Act, 1961. The trust regularly gets its accounts audited and files its income tax returns.

For Assessment Year 2024–25, my CA mistakenly filed Form 10BB instead of the applicable Form 10B. The Income Tax Return was also filed based on this incorrect filing.

When we discovered the mistake, we subsequently filed the correct Form 10B and revised the Income Tax Return. However, the Income Tax Department did not consider the revised filings and processed the return by disallowing the exemption claimed by the trust, resulting in an income tax demand.

I need a detailed, practical and legally supported solution to resolve this issue.

Please advise on the following:

1. Whether the department can deny the trust's exemption under Sections 11 and 12 merely because the wrong audit report form was initially filed, when the correct Form 10B and revised ITR were subsequently submitted.
2. Whether an application for condonation of delay under Section 119(2)(b), read with CBDT Circular No. 16/2024 dated 18 November 2024, is required in this case.
3. Which income tax authority should receive the condonation application, considering the time elapsed since the original due date.
4. Whether rectification under Section 154, a grievance on the Income Tax Portal, or an application to the Jurisdictional Assessing Officer/CIT (Exemption) is appropriate after condonation.
5. Whether an appeal before CIT(A) is necessary or advisable if the demand has already been raised and the appeal deadline is running or has expired.
6. The exact step-by-step procedure, relevant legal provisions, applicable CBDT circulars, supporting case laws and documents required to get the demand deleted.
7. Draft the condonation application and any subsequent rectification request or appeal grounds required in this case.

Please consider the fact that the error was inadvertent, the trust holds valid Section 12A and 80G registrations, and the correct audit report and revised return were filed after discovering the mistake. Explain the strongest available legal remedy and the appropriate order in which the applications should be filed.

A father and mother in india wants to gift each 500000 INR to their daughter who is an NRI and settled in USA. Each has fill seperate form 145 ( old form 15CA) to repatriate money to their daughter is enough to repatriate?

A Partner of firm introduced below 200000 in various days and totally introduced 1,45,00,000 during the year in his firm as partners capital . Is it attracts 269st to the firm.

We filed a return and claim of ₹50,000 for our client for A.Y. 2026-27. We have now received an intimation under Section 245, proposing to adjust this refund against an outstanding demand of ₹1,20,000 from previous years. There won't be any issue if the refund is adjusted for the client.Is it mandatory to file a response within 21 days?

Our company has decided to hire dashcam on rental basis from a it solution company which is specialised in providing solution related fleet services.

Apart from Hiring of dashcam ,realtime access of data caputered by Dashcam will be available,it will give alerts such as Driver is facing fatigue,overspeeding & other issue inshort it will facereading of driver behaviour

Now my question under which section TDS should be deducted for such type services?

Original ETDS return for 26Q4 FY 25-26 has been filed on 4th June 26. There is a delay of 4 days.
Subsequently one challan has been paid and need to revise etds return by adding this challan.
My question is whether Late Fees u/s 234E is payable in this case ?

Sir, we are engaged in a nursery business where we purchase plants, grow them, and sell them. Maintaining a detailed inventory or stock register for each plant is practically difficult. Therefore, we maintain only Plants Purchases and Plants Sales in Tally.

In such circumstances, could we face any issues during Income Tax scrutiny? Can the Income Tax Department reject our books of accounts and estimate our profits merely because we do not maintain a detailed stock register?

What minimum records should we maintain to comply with Income Tax provisions and avoid scrutiny-related issues? Kindly advise with reference to the relevant sections of the Income Tax Act and applicable judicial precedents.

My father has expired. I am nominee in his PPF account. I want to transfer this amount to my HUF savings account immediately when it is credited to my account. I shall do fixed deposit in HUF name. What is process to do so? Will there any tax complication in future?

Dear Sir,
I have filled on 29122025, a Condonation Request under sec 119( 2) b to file Revised Return AY 2021-22 to claim refund of excess tax paid beyond Rs. 300000/- on payment of Leave Encashment Rs. 731181/- as superannuation benefit which was received at the time of Retirement on 31-02-2020 from SBI Nagpur. After 9 months of follow up by frequent visit to Dept. now PCIT issue Rejection Order on 16102026, Stating as per CBDT Notification 31/2023 Dt. 24-05-2023 applied wef 01-04-2023. and not for pre retirees prior to Apr 2023.. But in many cases IBTA decision are in favor of Assessees who retires prior to 2023. Now How I proceed further to file appeal or how to file appeal to IBTA tribunal. Is any paid professional are available to this caclubindia. forum.
Please advise
Regards,
Ramesh Lute