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

Assesee is not ordinarily resident, having partnership income in India and Salary Income in USA any form required to file before filing of ITR in India, please guide us

Sir,

our client has not provided the msme details,so we are not able to track the payments.how to report in 3cb-cd

Sir
I need depreciation chart as per companies act for pvt ltd company to prepare chart for the current financial year... Pl send me in excel format showing all formulas. On the basis of WDV, so that I can prepare according to my figures correctly.
Thanks for your cooperation in advance.
Regards
Sanjay

Is a Capital Gain Exemption Certificate obtained through a CBDT-registered valuer legally valid?

**Query: Taxation of Crypto Futures in India (FY 2026–27)**

I am an Indian resident planning to trade BTC/ETH perpetual futures on:

1. **Binance Global:** USDT-settled futures.
2. **Delta Exchange India:** INR-settled futures.

My main question is whether I can pay income tax on **net annual trading profit after adjusting eligible losses, trading fees and funding charges**, instead of paying 30% tax under the VDA regime.

Please clarify:

1. Are cash-settled crypto futures taxable as business/speculative income or under the 30% VDA tax regime?
2. Can winning and losing futures trades be netted for tax purposes?
3. Does receiving profits in USDT make the futures profit taxable under VDA rules? Is converting USDT into INR a separate taxable event?
4. Is Delta Exchange's INR settlement treated differently from Binance's USDT settlement?
5. What is the legally correct tax treatment, with relevant sections or circulars, for FY 2026–27?

I would appreciate a concise answer from a CA familiar with crypto derivatives. Thank you.

Hi Sir,

We have partially used and unconsumed challans of Fy 2025-26. Can we used this challans in FY 26-27 Q1 TDS returns. How to use them.

AS PER SECTION 194N TDS DEDUCTED ON AMOUNT EXCEEDING THRESHHOLD LIMIT.
AS PER SECTION 393(3) WHETHER BANKS NEED TO DEDUCT TAX ON ENTIRE CASH WITHDRAWAL
INCLUDING THRESHHOLD LIMIT.Please provide notification or press releases regarding this if any