I had purchased a property in the name of my father who is senior citizen aged 70 years for Rs15,00,000 and the Stamp duty value(SDV) of that property is 37,50,000, Do we liable to pay tax on difference amount (SDV- Sale consideration) I,e 22,50,000.
Please note property purchased from cousin by mutual understanding for less value

Suppose I have paid a challan under section 194Q for ₹15,000. Later, due to a purchase return, I reduced this amount by ₹5,000. Can I use this ₹5,000 to pay another person under a different section?

DONATIONS RECEIVED FROM KIND CAN BE REPORTED IN FORM 10BD (IF NOT REQUIRED 80G CERTFICATE)

If there is demand for short deduction of tds of in-operative pan deductee (TDS on Contractor - 94C) , for which we had made payment with interest for the demand before circular 6/2024 issued. How to adjust this payment of tds against demand for short deduction?

T_FV_6351 Applicable and Mandatory For Financial Year 202324 onwards 'Other special allowances under section 10(14)'

I have received this error when revised TDS return 24q filing

how to solve
T.FV.6351 Applicable and Mandatory For Financial Year 202324 onwards Other special allowances under section 10.14

Sir, TDS is to be deducted for freight paid exceeding Rs. 1.00 lac to any single party. If upto Dec.2023, paid only 80,000/-(all payments below 30,000/-) but in March,2024 paid 40,000/-. Whether TDS to be deducted on cumulative total of 1,20,000/- during 4th qtr. If yes, then what about late fine and Interest payable on previous payment ?

Dear Expert,

The assessee has filed his returns all these years up till A.Y. 2023-24 under the old regime. He has income from other sources and small profit from Futures and Options which he declares under business income. From A.Y. 2024-25, default regime is New Regime. However, he wants to continue to file his return under old regime as that is more beneficial to him for A.Y. 2024-25.

I suppose he is required to file Form 10IE before uploading his income tax return. Am I right in this case? Or as he filed all his previous returns under Old Regime so he does not have to file form 10IE?

Please advise.

Sir/Madam

Is any capital gain tax payable by me if i transferred some share to my wife account in fy 2023-24??

Date of Sale is transfer of share to my wife's demate account??

Please guide me.

error: deductions us 54F claimed here should match with total of deductions claimed in respective assets. i have ltcg in mutual funds which i invested in my first residential property whose cost is more than total sale value of mf . i get this error whether i fill total sale consideration or ltcg. please help