Dear Expert,

I have a client who has a projected tax liability of ₹4 Lakhs for FY 2024-25 under the new tax regime. Unfortunately, they missed the advance tax payment deadlines, including the final installment due on 15th March 2025. The due date for filing the ITR is 30th November 2025.

My question is: If my client pays the advance tax now, will it help reduce the interest liability when filing the ITR? Specifically, how will it impact the interest calculations under Sections 234B and 234C?

Any insights or advice on this matter would be greatly appreciated. Thank you!

For fy 24-25 I have got speculation intraday trading profit of 100000 (1lakh),SHORT TERM CAPITAL GAIN ON SHARES IS 4 LAKH AND LONG TERM CAPITAL GAIN OF 3 LAKH. ON WHAT AMOUNT OF SHORT TERM CAPITAL GAIN I WILL HAVE TO PAY TAX.And WHat tax I will have to pay on intraday speculation profit of 1 lakh? I am a senior citizen, and i have no income othan this income

Dear Sir,
We are a partnership firm operating an ice cream franchise business and selling our products through Swiggy and Zomato e-commerce platforms. These platforms deduct TDS at 0.10% under Section 194O on our gross sales (Sales + Packing - Discounts), excluding GST. The payment we receive is after deducting commission, ads fees, GST, TCS, and TDS.

Our query is:
Are we, as the sellers, also liable to deduct TDS at 2% under Section 194H on the commission and at 2% under Section 194C on the ads fees charged by Swiggy and Zomato?

We request your advice to clarify this matter and, if possible, kindly provide relevant documents or circulars to support the guidance.

Thank you.
Vasu Kodiganti
Mob.No.9490753838

Dear Sir,

One of my client has received a mail with the above subject line from Income Tax. While verifying it after logging into Income tax site there is no such notice. The amounts shown in the email are correct for HRA Exemption taken in Form 16 and while filing the return.

My query is if the rent amount per month is more than Rs. 50,000/- and the person has not deducted any TDS on the rent amount paid and claimed the exemption in his Form 16, then is there a way to rectify the error. The client has filed his return of income under Old Tax Regime.

Please help on the above matter.

Regards,
Divyesh Jain

stay petition on stay of tax demand model

PLEASE TELL ME CAN A PARTNERSHIP DEED MADE BY HUSBAND AND WIFE WITH THERE MINOR DAUGHTER

Sirs. FY 2024-25. NRI not allowed for indexed cost after July 23 2024. Whether cost of improvement allowed to claim. NRI s property was gifted by parents before 2001. Is this property also indexed cost not eligible. Pl advise

MY CLIENT (FARMER...HAVING AGRICULTURE LAND ) JOINT OWNER OF.............BLDG SINCE 1954

IF BLDG IS SOLD.............IN HIS SHARE GOT AMT

TO SAVE...LTCG

PARTLY INVEST IN........RESIDENTIAL FLAT (READY POSSEION)

& PARTLY AMT................USE FOR PURCHASE OF...........3 DIFFERENT.......AGRICULTURE LAND

This pertains to AY 2023-24 I have filed multiple revised return In one of return filed on by mistake I claim political donation I filed another revised return after that thereis no political donation The return with political return got nullified as Another return filed And last return where no political donation got processed with demand which is already paid. In last revised there is no political donation
1. I am getting message and email from CPC Bangalore regarding fake donation which is already revised and no claim is taken. How to handle this situation. I have also raised grievance but no resolution.
2. Is there chance of 148 assessment in my case for political donation which was rectified in revised return

My father had created huf in 1990 and filed ITR every year. He has 2 sons , I am the eldest son. My mother is alive. My Father died in 2012. I and my brother were not married. In 2013 I became karta of his huf. Bank I sign cheques and ITR return filing I do signature. Huf is still on father name. I am not aware if we have transferred all his assets and liabilities ( only cash/bank/ unsecured loans are there in huf , there is no property in huf) I got married in 2019. My brother got married in 2020. He opened his new huf account.

Query
1) can mother become karta of father's huf now ?
2) can I open a new huf on my name (I married in 2019 and have no kids )
3) if I can open my own huf , can I continue with father's huf as well ? And file returns for both accounts ?
4) if I can open my own new huf account,but in case I can not continue with father's huf account , then what happens to father's huf account ?
Thank you in anticipation.