Sir,
Certain items looks simple but difficult to find direct answer in Income Tax Act. like PMVY (PM VayaVandanYojna ). Following Queries:-
1. Fixed Periodical Returns of PMVY is to be termed as Annuity OR Interest. OR Pension
2. Is it fully taxable as per slab rate.
3. If Pension then can it be classified under Salaries with standard deduction OR under "Income from Other sources "
4.Is it to be clubbed with Interest income of deposits under head of " Income from Other Sources " as there is scope to add on fields in ITRs form2 for AY2026-27
5.Why no TDS is deducted even if amount exceeds Rs50000 p.a. and no relevant form of (no-Deduction) is submitted

Please guide pointwise.

Gross Receipt Professional Charges Rs 12 Lacs + SB Intt Rs 1620 =RS 12,00620

BOOKS OF ACCOUNTS ARE NOT MAINTAINED
==============================
Professional Charges under Section 44-ADA Rs 6 lacs @ 50% of total professional receipt.

Can we file the ITR-4 under section 44-ADA

PLEASE GUIDE ME AND OBLIGE

Can we claim last year TDS ?
TDS deducted on FD interest - 20% (as per PAN ADHAR NOT LINKED) - FY - 2024-25
Now, I am filling return for FY - 2025-26 and I want to claim TDS deducted along with FY - 2024-25. I have not filled IT return for FY - 2024-25.
If answer is yes then let me know how?

Hi Everyone,

A company is creating a provision at year-end for long-term service awards based on actuarial valuation (future employee payment liability).

For tax purposes, we are currently:

* Disallowing the provision by adding it back to book profits, and
* Claiming deduction only when actual payment is made to employees.

However, the Statutory Auditor is suggesting that the provision should not be added back to net profit.

What is the correct tax treatment in this case?
Also, which section of the Income Tax Act, rule, or judicial precedent supports the treatment?

The taxable value of the assets is ₹10,00,000, with GST amounting to ₹1,80,000, making the total invoice value raised by the supplier ₹11,80,000.

During payment processing, it has been observed that the department has proposed to deduct Liquidated Damages (LD) of ₹50,000 on account of delay in the supply and installation of the assets.

As per my understanding, TDS under the Income Tax Act @2% and TDS on GST @2% should be deducted on the original taxable value of ₹10,00,000.

However, my reporting officer is of the view that TDS and TDS on GST should be deducted on the taxable value after adjusting the LD amount, i.e., ₹9,50,000.

In my opinion, Liquidated Damages are in the nature of compensation for delay and should not result in a reduction of the taxable value of the asset for the purpose of TDS deduction. Please suggest.

Hello CA Club India.

I purchased a piece of land through a developer for X Lacs a few years back. The piece of land (plot) was registered in my name by the Sellers who were the direct owners of the piece of land, not the developer. The amount in the registered deed is Y Lacs which is less than X.

The developer has provided receipts for the X Lacs and given details of plot number etc. but as they are the developer they didn't show the payment made to the direct owners.

Now, as I am selling the plot, my CA is telling me that the cost would be Y not X which was paid to the developer. The developer received X Lacs which included developing the land (roads, demarcation, water supply, electricity etc.) However, as there is no indication of direct payment to the land owner, the CA is not able to provide me a plan for the LTCG.

How do we compute the LTCG in this case? Based on X Lacs which was actually paid by me or Y Lacs for which the registration was done.

Regards.

Hi

where we can show free lancer income ?
which ITR is perfect for free lancer income?

any income limit under free lancer ?

anything need to take care while showing free lancer income?

What documents are required to be submitted for applying a new TAN for a partnership firm, if signed through DSC ?

1. Are Tax Return Preparer, GST Practitioner and Non-CA Accounting Service Provider specified professionals u/s 44AA(1)?
2. Aren't they falling under "Technical Consultancy" of 44AA(1)?
3. Are they eligible to opt for 44ADA?
4. Is maintenance books of accounts compulsory for specified professionals irrespective of turnover or income?

Sir
My relative sold a land for 1400000 on12.8.25 purchased on 5.1.2007 @ 5100000/- He again purchased 2 vacant land 1) for Rs 2800000/- 2) 2495000/- how to calculate LTCG please sir any taxable amount is there ? how much ?

With Regards

S M pasha