Sir,

My CTC is 14 lakh. I use the meal card option which is 26,000 Rs deducted annually from my salary and 60,000 LTA which is also deducted from my salary. After deducting PF, meal card and LTA, my taxable income is around 12,31,000 which less than the taxable income of 12,75,000 as per the new tax regime so I am hoping there will be no tax deducted.

But my question is what happens when I get the 60,000 at the end of the year if I don't claim LTA and then my taxable income becomes 12,91,000. Does this mean I have to pay tax on the full amount?

I pay a rent of 25,000 every month but I don't have the owner's PAN to claim HRA so in this case, which tax regime do you suggest? I don't have any other investments.

Thanks for your help.

Annual Membership subscription charges tds deduction or not

Sir,
Actually, we paid income tax for the past three years. we received challan and gave a response on income tax portal. but still, now it showing as outstanding demand on portal and received intimation letter from IT to pay the amount.
please suggest me a solution sir.

I have raised 3 grievances to date, but the ITR is still being processed. I submitted and revised the ITR on 31 July by adding some income that was updated late in the AIS statement. Even then, my income was below 7 lacs, and I am a senior citizen. I included the STCG of the STCG on cash stocks and the loss on LTCG cash stocks.
what is expected of me? Already April 2025 started

We have received a demand notice from a government department regarding salary monitoring fee, the amount of which is Rs.88265/-. So, can we know whether TDS is applicable on this fee or not?

SIR
MR A. 140-A TAX PAID FOR WRONGLY IN PAN NUMER AS ON 30.07.024 FOR THE ASST-YEAR 20240-25. THROUNG FOR HIS SB A/C . HOW THIS CHALLAN ERRO RETIFICATION AND RECOVER THIS AMOUNT FROM THE PAN HOLDER . MR A LEVING IN MADURAI AND HIS WARD IS 1 (7) BUT HE PAID WRONGLY PAN HOLDE IS LEVING IN RAJASTHAN.
THANKS

Hello, I sold Urban Agriculture land on 1st April, 2025 capital gain arises of Rs 45 Lakhs and I want to purchase new agriculture property new agricultural land which Govt. value i.e stamp value is Rs 25 Lakhs & Purchase consideration is Rs 48 Lakhs so can I claim Rs 45 Lakhs as exemption or not. Please explain. Also, tell any reference of provision/rule for the same.

Hi Sir,

By mistake I deducted 5% TDS on rent and now filled form 26QB for refund of excess TDS. In final instruction it is mentioned to submit 26QB acknwledgement along with cancelled cheqe and PAN card copy to AO. Now my Faceless AO has been assigned from different juridction.

Please suggest
1. Do we really need to submit Hard copy?
2. If hard copy need to be submited of 26QB, then it need to be submitted to juridcitoion AO or faceless AO or both.
3. Can this be courried to them or I need to go personally to submit this?

Thanks in advance for your support.

Sir

What is the turnover slab for IT audit 1 Cr or 2Cr for the Assmt.Yr 2025-26

With Regards

S M basha

Sir,
My question is :
Why gift money to maternal uncle is taxable u/s 56(2)(x) if brother of parent of an individual is counted as relative according to section 2(41) of income tax,1961 ? My maternal uncle is certainly the brother of my mother who is my parent ?

Also please clarify if gift deed can be made now for gift given in the past.

Thank you