Is it mandatory to file a nil TDS Return of that particular quarter if no tds is deducted?
If yes, then how to file it?

Due to a mistake in writing, the above-cited matter was raised by the TRACE. I have tried too many times to overcome the default, but I have failed to do so. Kindly help me to overcome the default. Regards, Tarak Kumar Roy, 150/1/1, Banerjee Para Road, Post-Naihati - 743165, West Bengal

sir,
in new rule tds have to be deducted from partner salary.

I want to know whether it has to be submitted monthly or quartely.
please reply

Hello Sir / Madam,

My query is as follows:
Ms A and her mother, Mrs B, are co-owners of a flat, which is totally funded by Ms A, an NRI. Mrs B is for the namesake in this flat to avoid any future legalities.

Ms A gave this flat on rent to a Pvt Ltd Company.

During FY 2024-25, this company deducted TDS in the name of Mrs B for the first 5 months. But when Mrs B informed the company that it should deduct the tax in the name of Ms A, then the company started deducting it in the name of Ms A, an NRI.

Total rent = 68250 * 12 = 819000
Shown in mother's Form 26AS = 68250 * 5 =341250
Shown in Ms A's Form 26AS = 68250 * 7 = 477750

While filing the ITR, if we put share as 50:50, then for Mother, the rent gets divided into 50% i.e., Rs. 409500, whereas in Form 26AS, it is Rs. 341250/- only.

and for Ms A, 50% comes to 409500/-, whereas in Form 26AS it is 477750/-.

This 50% share is automatically calculated in ITR. The company is reluctant to revise the TD return.

How to show this transaction in their respective ITR?
Please guide.

Thanks & Regards,
Suraj

Hello Sir/ Madam,

I wanted to add one challan in TDS return already filed. When I put request for correction on TRACES then file was available in download section but it was not opened with following passwords like TAN, combination of fourletters of TAN and PAN, Request number etc. Kindly give the password. Secondly, when it is available then when I click in that row it is not opened to add challlan. What shall I do. Is there any procedure changed. ?? Kindly reply

One of my relative wants to buy a property from a real estate firm valued Rs 79.00 lacs including GST. should he deduct TDS @1% on full amount OR only value before GST . Pls advice.

Please mention Name of services under section
TDS Under Section 194J(a) & 194J(b) would be deducted

Mr. A , Property purchase on 1963 at the cost of Rs.14000/- after Mr.A. expired, his son gift this property to his wife by Gift Deed on 19.11.2022. His wife sold this property on 19.7.24 sale of Value of Rs.32 lac. How to Calculate capital gain tax and purchase value?

Hello All,

Currently while computing the Capital Gain tax for a client on sale of residential flat, wherein option of indexation is available. Now as per the updated provisions of Capital Gain tax, either with Indexation or without indexation option to choose is which is tax beneficial can be considered.

In particular case, while the Indexation option was selected and the gain is being invested in the Capital Gain account to be utilised for purchase of property, Winman software is considering the overall Capital gain in the Total Income. On checking with the winman team they pointed out that as per the Income tax forms Total Gain has to be reported to Total Income even though there is Nil Tax liability. But due to this reporting if the overall income crosses 50L, Surcharge gets activated.

Query : Is this understanding correct- to add the Capital gain to Total Income, anyone using different software than Winman could you please check some dummy scenario, I tried to check online but forms are still not made live in Income tax portal hence could not check their.

Regards

hiii!!! i have booked flat in under construction property in 2020, got posession in april 2024 and sold in march 2024.
what is period of holding ??
it is short or long term ??