If TDS is deducted under section 194A. Mr. X has filed his return of income under presumptive basis i.e. Income u/s. 44AD by showing Income of 194A as presumptive. is it correct? whether Income u/s. 194A is treated as a business income? if yes, then is it any certificate/license is required?

RESPECTED SIR/MADAM

one of my client wants to sale his property on dec 2024, he purchased this property in 2004. my query is, can he opt option of 20% capital gain tax with indexation?

pls guide me on this case

Thanks in advance

I have an one old house and constructed a new house by taking a housing loan, if i sold the old house and the entire sale consideration was used to repay the loan taken for new house , can i claim an exemption u/s 54 of the IT Act, any decided cases

Sir, If my wife earns some amount from mutual fund withdrawals and purchases a house jointly with my son, where the loan is taken by my son, can she claim the benefit of exemption from capital gains tax under Section 54F?

I am planning to buy a property located in Chennai, value being negotiated is Rs.80lacs. Seller is an NRI. I would like to know

a) the applicable TDS rate for the above transaction? Surcharge & Cess as applicable. I would like to know base TDS rate.
b) I read couple of responses in this forums and understand that Indexation benefit is not available for NRI. does this impact the TDS rate?

I left my job with an Indian company and joined an US affiliate. The US company offered me a salary and a signing bonus. The signing bonus is not a part of the employment offer letter but a separate letter saying that i have to return this if i leave within one year. Later, it was decided that the signing bonus will be paid from Indian company payroll. Since it is paid from indian payroll to my indian bank account and not a part of the offer letter, Is it indian income or foreign income?
It was not reported in my US tax w2 and the indian company told me that it was documented as employee bonus in indian company records.

An Indian startup company has developed a sales related software in Nepal. This startup is tax exempted in India.

As per IT ACT of Nepal , tax of 15% was deducted on payment made.

As per clause 23 of DTAA between Nepal and India, tax credit can be taken for tax deducted in Nepal.

Question here is
1. Tax deduction of 15% is right?
2. Even if the Indian company is an start up tax shall be deducted at the rate of 15%
3. What happen to tax credit as the company in India is tax exempted company.
4. What is the credit taking mechanism if any

Thank you in advance

Salary arrears received from FY. 2022-23 and 2023-24 in May 2024
IT filed in old regime in FY 2022-23 and in FY 2023-24 also in old regime .Now the question is when taking section 89 calculation can we calculate FY 2022-23and 2023-24 in new regime .

I got a VISA prepaid card as gift from my employer in USA during Diwali. It is 25$ ~ 2100INR. Do i need to report it in India if I am resident? I have read that there is a exemption of 5000 INR for each employer in India tax laws. Is it applicable to foreign employer?

I have earned income in USA from salary, I have paid tax in India on the same as I was a resident during AY 24-25.

When I look at schedule FA, the rest of the points mention 31 December as the cutoff date, but point G doesn't mention it. Do I report my Jan, Feb, March salary in there or point G follows the same reporting calendar year?