Hi,
I had invested in RBI 7.75% Savings taxable Bonds during Nov 2017 with Maturity in Nov 2023 with cumulative option through my HUF account. In non-cumulative option, interest is payable half yearly but in cumulative it is paid during maturity. During all these 7 yrs, no TDS was deducted on the annual interest earned. But in my ITR2, I have been showing the interest accrues every year (based on compounding) so that I dont have to apy income tax on the entire interest accrued at the time of maturity. Just before the maturity, I wrote to HDFC bank asking them not to deduct TDS by filling for 15H on the entire interest accrued at the time of maturity saying I have already been showing the annual interest earned in my ITR2 like it is done for cumulative FD. But they said these RBI bonds are not like cumulative FD and we will show entire interest accrues at the time of maturity in form 26AS and deduct TDS on full amount. Hence, In Nov 2023 at the time of maturity, they showed Rs 12 Lakhs as interested earned on Rs 20L principal invested amount and deducted 1.2 Lakhs as TDS. Out of this 12L cumulative interest for 7 yrs, I have already shown around 9.6 Lakhs in previous years ITR2 and hence only need to show balance 2.4L as interest accrued from these bonds for FY23-24 under Income from Other Sources. So pls guide me how do I show this 2.4L as income from other sources because form 26as is showing 12 L interest income under Section 193 and hence if I just show 2.4 Lakh income and hence claim refund of 1.2 L TDS, then it total income will not reconcile with what is there in form 26as. Is there anyway I can show that out of 12L 9.6 is already claimed in earlier ITR and hence only 2.4 is taxable. Otherwise I will have to incur a loss of Rs 1L as the tax on 12L and also it is unfair from RBI perspective to charge all the interest income on maturity although it is accrued annually. If I would have gone for non-cumulative option, then I would have got the income half yearly and it would reflect in form 26as, then the same accrual principal should apply to cumulative also (like in FD) otherwise people going for cumulative option will have to pay heavy tax as per their income slab on the whole accrued interest in the last year at the time of maturity. Pls help as I need to file the return asap.

Thx,
Ashok Kumar Singhal
Karta HUF account
Ph - 9845674767

DEAR SIR,

ONE OF MY CLIENT DAUGHTER, CLAIMED HRA FROM SALARIES BY PAYING HOUSE RENT TO HIS LAND LORD MOTHER OF RS.6,54000/- NOW MY QUERY IN THIS SITUATION RENT PAID BY INDIVIDUAL ABOVE RS 50000/- SECTION 194IB IS APPLICABLE TDS @ 5%.

THE SUMS DISPLAYED IN AIS REPORT THE INDIVIDUAL HAS TO FILE INCOME TAX RETURNS

REGARDS

Can we take interest on gratuity year wise and submit IT return.

My ITR of fy 22-23 is under process since September 23, is there any time limit to proceed it?

If I have a salary income, and have sold some shares and also consulted as a free-lancer for a friend for a small amount [credited into by SB account directly] which was remitted from another country, can I file ITR-2 and fill the FSI section ?

Hello Sir,
I have a doubt regarding dividend filling in ITR. As per the dividend sheet shared by broker, dividend calculated for the FY is based on ex-date while if I check AIS, dividend amount is bit different (may be it considers the actual payment date of dividend) for eg: if ex-date is in march, payment date may be in April next financial year.

How should I consider the amount while filing ITR, should I take it as per ex-date or as per actual payment date.
Please suggest.

Best Regards 

Sir, One of my client trade in share market (F&O) last year with LOSS
Is it mandatory to show that LOSS in ITR? or file as last year ITR
if we show that LOSS our ITR figure goes very down
please suggest
Regards
Vikas

Sir,

My friends mother is expire on april 24 , now i want to know in his IT file she have 7lac cash in hand,and 8lac in bank.
can his son transfer 8 lac in his bank account and can utilised cash in hand.
What is rule please advise.
WHen to block bank account and pan card

Question 1. Is TDS applicable on amount received as compensation by a tenant on surrender of his tenancy rights?
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Ans> TDS not attracted but the income will taxable under the Head Income from other.

Question 2. Please clarify if the income is taxable what will be tds rate in case of super senior citizen and whether he can invest entire tax amount in some Government bonds tax saving bonds OR is there any threshold limit .
Suppose assume if Mr.A receives compensation of say Rs.20,00,000/- what will be his tds liability and how much he can invest in Govt.bonds.
Please advise.

For AY 2023-24 would a trust be able to get exemption under sec 11 if the Auditor has filed form 10BB report on 30th Oct 2023 and the client e-verified the same on 8th Nov 2023. If not please provide information as to get exemption thereon.
Thank you.