Hi Team,

I received defect notice 139(9) post submission of my ITR -1 with old regime.

The notice says it mis-matched the income from my 26AS , However I included all income mentioned in 26AS in ITR-1 . but the defect is came as under 26AS along with my salary income there is one business income (section 194c) present which I consider as other source of income while filing the ITR-1.

Now, I realize I have to file ITR-4 for AY-2024 - 2025. 

issues :

To response the defect notice with failing the ITR-4 it not allowing me to file it under old tax regime
I have filed Form 10-IEA  (filled on 4th Aug 2024) Although it not allowing me to opt for old regime



Please help me here with you kind guidance.

As well as please let me know , if in case I did not response to the defect notice within allowable timeline what can happened ? (as I have mentioned all the income in ITR-1 as per 26AS just the business income mentioned as other source of income.



Thanks 

If I transfer shares worth Rs 10 lacs from my Demat Account to my wife's Demat account : i) what are the tax implications for this transfer transaction for both of us? What are the tax implication on both of us ii) if Dividends are received by my wife iii) if the shares are sold by my wife after 1 year of transfer?

Hi Team,
If we have a jointly held property and rental agreement is made with first & second holder.

As per agreement First Holder is getting the rental income in their Individual Bank Account

How the rental income should be considered for taxation purpose?

Is it as per the Rental Agreement both owners should be taxed as per their ownership holding ?or
It should be who receives income in their bank account
or
It doesn't matter who receives the income but either of the Joint property holders can show in their Income tax return ?

Appreciate you help.

Thanks,

I forget to move my previous year dividend from USA Stock. I have filed my current IT Returns and it is processed. Can i now move the previous year dividend and fill form 67 and get the benefit from double taxation.

I have also some old dividend money in lying in USA account. Can that also be moved with any benefit or again i have to pay full tax as per my slab? this will become 25% from USA + My slab

SIR
MR A PAID FOR SELF TAX RS 35,000 FOR THE ASST-YEASR 2024 -25 ON 25/07/2024. WRONG PAN NUMBER. BUT MR A FILED RETURN ( MADURAI CIRCLE) WITH DUE DATE BANK BSR CODE AND CALLAHAN WITH DUMMY NUMBER. PL KINDLY ADV FOR REIFICATION CORRECT PAN NUMBER CALMING THIS AMOUNT
THANK

Flat sold by property developer showing as Sale Of immovable property in the AIS of sole proprietor. Will there be any issue if the same reported as Business Receipts in ITR 3 not as capital gains.

PQR LLP, Mr. C & Mr. D are the partners of XYZ Joint Venture LLP.
XYZ Joint Venture LLP doing business & pays 30% income tax on their income
After paying tax (30%), XYZ Joint Venture LLP shares profit to their partners in their profit sharing ratio.
Question, Is PQR LLP also liable to pay income tax @30% on profit received?

We Send Bulk Letters through Speed post By Post Office of India and make payment to Post office through Cheque. whether post office is consider under contract and have to deduct TDS @2%. The Limit Is Crossing Rs.1,00,000/-.

Dear Sir
I have booked two flats at Pune from welknown builder one my own name( Senior citizen and iinteredt ncome is 4 lakhs) and second on. my son name (his incone is under 30% slab) . Their was abnormal delay in construction. But unfortunately he has managed to get extension in RERA date. After lot of chaos and adverse publicity in media builder is agreed to pay Rent of 30 K per month till possession. He has given two option
1. Either to collect cheque subject to TDS deduction.
2. Get credit note which will be adjusted in amount payable to Builder .
I think second option will not be taxable. Is it correct ?
3) If opted 1st option of cheque under which head is taxable ?
4) Whether to collect cheque in my name and get credit not in my son name .. Whether this is good option from taxation point of view ?
Which will be better in taxation point. ?

SERVICE RECEIVED IN THE F.Y. 23-24
FOR ABOVE SERVICE A DEBIT NOTE RECEIVED FOR 2000 ISD . DEBIT NOT DATE 10/04/2024
MEANS IN F.Y.24-25

IN WHICH ACCOUNTING YEAR DEBIT NOTE ACCOUNTED