Sir/Madam

Can anyone guide me any CA Certificate is required for FNO transaction made during the fy 24-25 for filling of income tax return.

Profit is taxable under the head Speculative business income??

Thanks

Employer has reported excess salary of income and recovered TDS also for the FY 24 - 25. This fact has known now only. How this excess salary reflected in 26AS can be rectified now. There's is an excess salary of about 4 lakhs shown in 26 AS.

An individual receives two types of income from the same concern — salary and consultancy fees — and TDS is deducted under Section 192 and Section 194J respectively. under which head the income to disclose and whether sec 44AD is applicable to Consultancy income ?

Salaries for the month of Jan-24 to Mar-24, were neither paid by employer nor appearing in 26AS, but it is appearing in AIS, employer paid and reported in 26AS in 2024-25, so for this 3 months salary when the tax liability arises in 2024-25 or in 2025-26?

Further please, clarify whether salary not reported by employer in 26AS/Form 16, is not due? or it will be treated as due?

Hello Sir,

My mother is senior citizen pensioner her annual income is around 5 L ( pension 2.5 L + Agriculture income 2.5 L).

I am salaried and I have open FD (tentative amount 20L) from My mother account be transferring amount to her account to get senior citizen benefit.

Now its showing Purchase of time deposits amount as 20 L. If Income tax ca ask query for same if Yes how to reply? Or Shall I need to show this amount in ITR. If yes in which section?

Sir/Madam

One of my friend have made FNO during the fy 2024-25 and he want to prepared tax computation. How he is to know Categories of FNO scripts??

FNO transactions are made through Grow platform.

Thanks in advance

Sir,
I've incurred 3000/ loss in intraday cash(non f&o) trading and my intraday turnover is 12,660/ . But my total income is more than 7,00,000. I would file ITR 3 for AY 25-26.

My question is:
Is there any way I can avoid audit ?

Thanks,
Shantanu

Respected Experts,

I had filed 27Q returns for Q4 of 2024-25, however I submitted the return with wrong deduction dates.

For Q4 months of JAN-FEB-MAR, I had (mistakenly) entered the same deduction date of 09/01/2025 while actually paying (depositing) the TDS on time for each month.

Month - Deduction Date

JAN - 09/01/2025 (Correct)

FEB - 09/01/2025 (Wrong. Should have been 09/02/2025)

MAR - 09/01/2025 (Wrong. Should have been 09/03/2025)

Now I see the 'DEFAULTS' status for 27Q Q4 regular return statement with XXX amount payable for 3(b) INTEREST ON LATE PAYMENT as type of default.

I downloaded the JUSTIFICATION REPORT and this is when I realized I had entered wrong deduction dates for the months of FEB and MAR. Same deduction date of 09/01/2025 for both the months.

screenshot - https://postimg.cc/rdf5MFJ5

I also see one Unconsumed Challans (Date of Deposit 07-May-2025) inside Traces dashboard. 

When I try to proceed with REQUEST FOR CORRECTION (online/offline), I get the following error.

No data available for the specified search criteria.
Reasons can be:
1) There is no statement filed for the searched criteria. Please verify FY, Q, FT are entered correctly.
2) The statement is filed and is being processed in CPC TDS. Please try after some time.
3) The original statement filed is a paper return.

Please help me fix this.

Your knowledgeable guidance would really help.

Best Regards.

I bought 1000 shares of ABC Ltd in 2021 on 2 occasions and weighted avg buy rate of the share is Rs 144. In Dec 22 there was a de-merger of ABC Ltd to form a new entity called XYZ Ltd. Shares of the XYZ Ltd was allotted in the ratio of 1:1 – 1000 shares allotted for XYZ Ltd in Dec22. In Feb23 listing of the XYZ happened and market rate of the XYZ Ltd on listing day was Rs 31/ shr and ABC Ltd was Rs 118/ share. What is the calculation now for the adjusted cost price/ buy rate of shares of ABC Ltd and XYZ Ltd for LTCG calculation purpose in case the shares are sold today?

I have purchased a property on which I am liable to deduct TDS. The builder asked me to deduct TDS on the last payment. So while filling the TDS challan, I have selected the Lumpsum option showing sale consideration as the amount being paid . But in the lumpsum option, I also have to disclose the Value of property for stamp duty purposes, which the builder has not worked out till now. Although I am sure that the stamp duty value is going to be less than the sale consideration ( as per the builder ) so the TDS will be calculated on the Sale consideration only. In such a case can I fill the stamp duty value of the property the same as sale consideration? Is there a possibility that if i fill the sale consideration amount as the stamp duty value also in the TDS challan, the authorities will compel me to pay stamp duty on the same amount