Cash Receive on sale of immovable property above 10 lakh

Hi,
What will be the Tax effect on Money Gift from Father to Son or to Daughter-in-law.
Is it taxable or exempt?
Please guide.

Thanks
Umesh

Dear Sir,
Case detail:-
if i am purchase a property to some one of Rs. 1.80 Cr
Circle rate and stamp value Rs. 2.03 Cr
Sales Consideration Value Rs. 1.80 Cr
TDS Deduct on 2.03 Cr-Circle Rate Value
But Seller reject circle rate value and tds accept only Sales Consideration value Rs. 1.80 Cr
Now as a purchaser we can use tds further in any other section.

Sir,

Can we file revised return after process tax return due to deduction under section 10 forget to claim in return.

Dear Experts

Can you please help me to know when these penalties are applicable 234 A, B, and C

Thank You
Vijith T K

Hello everyone,

A ltd has received an invoice from consultant - professional fees 100000, out of pocket expenses-15000 (food, travel & accomodation ) total 115000

He has provided evidence of accomodation.

should we deduct tds on 100000 or 115000

if suppose he issues two seperate invoice one for 100000 and one for reimbursement of OPE then what would be implication on TDS ??

Thanks

I have a proprietorship firm engaged in exports of handicrafts. I had a car in the name of the firm with book value 3 lakhs. I sold it for 4 lakhs (1 lakh profit) . After 4 days I purchased a new car for 10 lakhs.
How do I account for it ? After claiming depreciation till date of sale , do I show profit on sale of fixed asset (old car) ? Or do I just make an entry for sale of old car and a new entry for purchase of new car in my books in which case I won't have to show profits ? Thanks for clarifying.

Dear sir,
We are a society registered U/s 12A and 80G. We are having an FDR of Rs 2 Crores and on that the interest accrued but not received is Approx Rs 15 Lacs the interest gets added to FDR amount.

We are also falling short of 85% utilization of our Gross receipts. Sir my question is do we have to file two forms form no 9A for interest of FDR accrued but not received and form 10 for short utilization of 85%.
my second question is do we have to add the interest accrued but not received in total receipts and then calculate 85% or exclude the interest figure and then calculate 85%

my demat account was with Citi bank and Citi bank migrated in to Axis bank on july 2024
my demat a/c automatically converted to Axis demat account now if I sell my shared ,it is consider as short term capital gain with profit while I purchased shares in 2015 and it is LTCG with loss
I talked with Bank but they are clueless.
can anyone guide me please??

Thanks in Advance

good evening Sir, client was issued a notice for defective return u/s 139(9) on 01 AUG 2024, last date for response was 16 AUG 2024, as he filed return in ITR 1, where as he was having income from VDA and LTCG in listed shares, now he has come to me to file return. what should be done now, as the option to response for defective return has been disabled.

can i filed Revised Return u/s 139(5) under old regime as the original return was filed in old regime for this case?