I am running a jewellery business and my blood relative is willing to gift me Rs.6L. From income tax perspective should I receive the money in Current account or Savings account. Why?

we are two Partners in LLP, our Last year Sales was 27.21 lakh, Approx. Net Profit is 1.2 Lakh, is Tax Audit Required.

We had filed rectification request with revised return data of AY 22-23 in Mar,24. CPC has issued rectification order u/s 154 nullyfying demands raised in intimation u/s 143(1). However, they have computed interest u/s 234A from Date ff filing of return (Nov,22) to date of filing of correcttion i.e. Mar,24. Please let us know the applicability of interest u/s 234A in this case.

Sir,
WE filed tds return (regular staement) for Q3 (26Q) on time but missed to add one deductee. Now if we add deductee and file revised TDS return for Q3, whether we will have to pay penalty of Rs 200 per day from 1st Feb to the date of filing revised return. Please guide.

sir
I was purchased a house in 2011 with my savings and housing loan. The was purchased on jointly me and wife name. In dec 2023 I was sold this house and 1% TDS was deposited in both of ours PAN account. Now I want to know that long-term capital gain will arise only on me or both of us.
thanks

A firm purchased various pieces of adjoining land having different Khasara numbers from various persons at different prices. After a year of purchase, the firm got all the pieces of land consolidated in a single khasara. Post consolidation it converted a part of the consolidated land into stock in trade and another part continues as a capital asset. The portion converted into stock in trade is proposed to be developed in residential plots as per the approved layout after the diversion of such land into non-agricultural land.
Relevant figures are as follows:
1. Total Area after consolidation 100000 sq ft.
2. Converted into stock in trade 70000 sq ft
3. Capital Asset 30000 sq ft
4. Average cost of consolidated land Rs.200 per sq. ft.
5. Saleable plot area after development 35000 sq ft.
6. Cost to be incurred for development Rs.10500000
7. Period of development 2 years
8. Plot sale to commence immediately without waiting for completion of the development

Kindly guide as to the valuation of the stock of plots and also the un-diverted land.

I have unlisted shares as part of ESOP from my Org.
Can anyone elaborate how we can save Income tax if we are holding shares for >3yrs.
For 54F:
- Can we use for agri land ?
- Suppose I used 54f in current FY against purchase of my 2nd home... Is it possible to again use 54F against new home purchase after selling my first home.

Could someone please tell for the Form 26QB which is filled for property over 50 Lak,  there is a field "Date of Payment / Credit made to seller".

what is the difference between Date of payment  and Date of credit to seller ? 

Is it something like say for example, I place an NEFT transfer request with my bank to pay installment to builder at May 01 11 PM IST  and amount gets deducted from my account but  it  gets credited to builder account say on May 02, 01 AM IST  , then Date of Payment will be May 01 but date of credit will be May 02  and then for this field any of these May 01 or May 02 are correct to fill in or what exactly should be filled in ? Please confirm. Thanks.

At the time of filing the Q4 TDS return, should we also file another return for the annual return?

Please tell me, is it mandatory to get a TAN number and file form 15CA/CB for using cloud hosting services from Digital Ocean or AWS? Payments to Hetzner, Digital Ocean and Backblaze are auto-debitted from credit card.

If TAN is required then why govt allows simple credit card payments from users who do not have TAN to these companies?

Please explain.