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Mahabir Prasad Agarwal
This Query has 2 replies

This Query has 2 replies

Whether online filing of ITR for AY 2026-27 commenced ?


Vikas Sharma
This Query has 1 replies

This Query has 1 replies

05 May 2026 at 13:32

Clubbing of Income Between Spouse

If I transfer some funds to my spouse, and if the spouse invests it in some way, then the return is still taxable in my hands. However, I have been told that if that fund changes the shape and form twice, then after that clubbing would not apply. Can someone confirm if this is correct and which section of Income Tax Act supports this?

And also in what way can this be executed - for example if using the demat account, buying and selling publicly listed shares twice within few days can achieve this? Or does it need to be more complex, for example buying something physical like gold, then silver and then bringing it back in cash form?

I am looking to do this to distribute funds equally between me and spouse with a goal to get maximum benefit of tax free allowances for an individual.


Deepika Badlaney
This Query has 2 replies

This Query has 2 replies

01 May 2026 at 19:29

Updated Return filing FY 2023-24

Hi,
I have filed Original Return for FY 2023-24 under ITR-1 Old Regime. Can I file Updated Return for FY 2023-24 under ITR-2 Old Regime as I need to declare Foreign Assets?


Kollipara Sundaraiah
This Query has 1 replies

This Query has 1 replies

Sir,
New income tax act 2025 form 25 applicable for professional all or small tax payers f.y.25-26 compulsory or not


Sanjay Budhiraja
This Query has 1 replies

This Query has 1 replies

30 April 2026 at 19:02

Limit for cash payment of salary

Hello all
Pl guide me how much salary we can give to employees in cash during the year as per new provision of income tax u/s 40A(3).
If our company has given salary of 1 Employee for ₹234000/ pa.. per month 19500/ in 2 different days. Is it allowed or disallowed in last FY. ANY PANELTY OR ....
Pl reply
Regards
Sanjay


MAKARAND DAMLE
This Query has 2 replies

This Query has 2 replies

There is one buyer and two sellers for property sale transaction. consideration is above Rs.50L
1% TDS is deducted by buyer and tds needs to be paid for two sellers
While filling form and paying challan u/s 393 as per new income tax act under the tab details of all deductees(sellers) we filled details of both sellers separately and one challan for entire amount has been generated

My question is after paying challan whether both sellers will get credit for TDS as per their share ?


Kollipara Sundaraiah
This Query has 1 replies

This Query has 1 replies

29 April 2026 at 14:20

Income tax questions

sir,
q.no.A person form 121 submit to sbi interest income show in sbi only or another bank of india bank fd interest amount show included or only sbi interest show correct procedure

q.no. A partnership FIRM tds registered tan number the tan entered does not exist error showing

qusetion: above two problems solved procedure


durgesh VJ
This Query has 2 replies

This Query has 2 replies

Hi,

This query is regarding form 26QB filed in december 2025, a case of two buyers, and two sellers,
both buyers in their 26 QB filled total value of consideration Rs 1.40 crores. it has caused 2 entries of Rs 1.40 Cr in 26AS of both buyers sellers. AIS and 26AS is showing doubled value i.e 2.8 Cr cr as property sale value. the actual value is Rs 1.40 Cr

TDS has been deducted at 1%, each buyer Rs 70,000 TDS amount, total Rs 1.40 lacs TDS

stamp duty value of property was also mentioned as Rs 1.40 Cr

please guide regarding how to rectify 26QB


Mahabir Prasad Agarwal
This Query has 1 replies

This Query has 1 replies

29 April 2026 at 12:38

ITDS U/S.194T

If a partnership declares income U/S.44AD, whether ITDS provision of Section 194T will be applicable ?


MAKARAND DAMLE
This Query has 1 replies

This Query has 1 replies

Assessee sold agricultural land having Mango, Coconut and Supari Trees for Rs.81,00,000/-
Rs.81,00,000/- is bifurcated as Rs.62,16,000/- towards sale of land and Rs.18,84,000/- towards cost of house constructed on the land.

My question is whether both above receipts are exempt from capital gains tax ?







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