Suresh S. Tejwani
This Query has 3 replies

This Query has 3 replies

09 December 2024 at 13:20

REGARDING AMOUNT OF DISPUTED DEMAND

IN FORM 35, AMOUNT OF GROSS TAX LIABILITY TAKEN INTO ACCOUNT OR WITH NET TAX LIABILITY AMOUNT (WITH INTERST UNDER SECTION 234) NEED TO TAKEN INTO ACCOUNT?

IF WE TAKE INTO CONSIDERATION, THE AMOUNT OF NET TAX LIABILITY (WITH INTEREST) THEN 20% IS PAYABLE ON TAX AMOUNT OR (TAX + INTEREST) AMOUNT.


Sagar Panchal
This Query has 3 replies

This Query has 3 replies

08 December 2024 at 22:16

194NF IN TDS SCHEDULE

Dear Sirs/Madam
In which head Income TDS of 194NF should show ? while filing income tax return the file validation needs to confirm income head of TDS
Request to guide


sudhir chintawar
This Query has 1 replies

This Query has 1 replies

08 December 2024 at 20:36

Allowability of claim u/s 10.26.AAB

Whether the claim u/s 10.26.AAB by an APMC can be denied in case of belated filing of Return? For AY the AOMC has filed the Return on 06.10.2018. While processing the Return the claim was not allowed by CPC


Rahul Singh
This Query has 3 replies

This Query has 3 replies

Sir
I have filed original return on 8th June 2024 for which I got prime facie adjustment notice in old tax regime. Subsequently I have filed first revised return on 16th July 2024 under old tax regime for which I got intimation order. Since my 26 AS got updated in August 2024 I revise second revise itr in new tax regime on 7th November 2024.which is not processed yet My query is
1.Whether cpc will process my second revise return filed on 7th November 2024 in old or new tax regime.
2. If second revised return got invalid then first revised return for which I receive intimation order will be valid or not and taken as final assessment or not
Thanks
1.W


Rohan
This Query has 6 replies

This Query has 6 replies

Hi All,
I had bought a flat from a builder in Aug'23 by giving a booking amount and got my BBA executed in Mar'23. In the BBA terms there was a dispute b/w builder and the buyer due to which I had lodged a police complaint and a case in RERA against them.

Recently we both have mutually agreed to settle the matter on following terms by a settlement deed. The builder has cancelled my unit and refunded my amount and in Lieu of taking all my complaints back they have given an additional compensation.

Will this additional compensation over and above the amount i have given is taxable? I have gone through cases of such matter and found that it can be considered as a capital receipt as the compensation given is to relinquish my rights to sue and its a one time settlement and it's not my core business. If that is so will there be any tax liability?

The builder is forcing to deduct the 10 percent TDS kindly guide.


Anish Verma
This Query has 1 replies

This Query has 1 replies

08 December 2024 at 12:47

ITR 2 Filed AY 2024-25, not yet processed

ITR 2 for AY 2024-25 has been filed around 17th June,2024 and verified electronically through Aadhar OTP on the same date. It's been 6 month the ITR has not been processed by the CPC, due to which the refund has also not been processed.
Update: The ITR is not processed even after 31st December 2024.
What are the remedies and options available in this case?


Akshit Jain
This Query has 3 replies

This Query has 3 replies

07 December 2024 at 22:53

Tax Rate on maturity of ULIP

What is the tax rate at maturity on ULIP (Unit Linked Insurance Plan) that does NOT qualify for capital gain exemption under Section 10(10D)? Is it treated like a mutual fund held long-term? Also, does the distinction between the tax rates for debt and equity apply?


Divyesh Ajmera
This Query has 3 replies

This Query has 3 replies

In case of appeal against income tax order, on which amount 20% applicable whether on Gross Tax liability or Net tax liability (Gross Tax liability plus interest adjustments)?


NISHIKA GUPTA
This Query has 1 replies

This Query has 1 replies

07 December 2024 at 18:47

Filing offline itr 3

While I am trying to file the ITR3 U/S 139(8A) FOR AY 23-24 and validating the sheet DPM-DOA AN ERROR POP UP AS Under
DPM45 CAPITAL GAIN/LOSS UNDER SECTION 50 CANNOT BE NEGATIVE pls help me


Praveet
This Query has 1 replies

This Query has 1 replies

07 December 2024 at 16:52

Rgarding ITR-4

Can a GST registered person file ITR 4 under section 44AD?






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