SIR,
Attention (XXXXXXX) it departmentidentified certain information f.y.22-23 avaloable on ais.mismatch compliance portal under pending actions tab and e-verficiations mobile sms received.
Doubt:
Sms received after procedure.

TAN Default notice received against deactivated PAN, tax to be paid @20%. After PAN Aadhaar linking the PAN is now activated. Filed correction statement after 2 weeks using the same PAN. But again default notice issued against the same PAN. Please suggest me what to do?

WHEATHER I CAN REVISE MY IT RETURN AND SUBMIT THE SAME AGAINST INFORMATION CALLED BY INCOME TAX DEPT U/S 133(6) OF INCOME TAX ACT.

Hello Members,

For the AY 2022-23, assessee filed updated Return and tax along with applicable penalty of 125% on Tax amount was also paid off.
However, now intimation order is issued and further tax liability is being raised by the department.
But unlike in normal order received wherein we get the bifurcation of the tax amount and applicable interest us 234A/B/C here in this intimation for Updated return there is no such bifurcation provided by the department.
Could you please assist as to what should be the next recourse as it is evident that tax computation done by the Income Tax department is not right and further they are also not sharing the reason for the increase in tax liability despite all penalites being paid off at the time of filing of return itself.

Regards
Gaurav Jhanwar

If notice issued to builder under section 131 of income tax act and books of accounts seized of builders then addition can be made to buyer of such property merely because in the books of seller cash transaction over and above of purchase agreement?
Is there any favourable case studies regarding above mentioned matter?

Sir/Madam,
I had bought a flat for Rs 2000000 (all incl) in feb-19 & sold the same for Rs. 2100000 (flat cost) in feb-24. Kindly help me in calculating the capital gain in this transaction. There is some calculation of Indexed cost of property & cost of inflation index for the respective years which i am not aware of. kindly guide in calculation capital gain / loss in this transaction.

My company is willing to sponsor my online PG course for Rs 5.50Lacs by reimbursement of tution fees on condition of bond for two years to continue in the employment after obtaining the degree. If I quit the employment before 2 years, then I have to return the amount given by employer. My question is, will the employer will be deducting TDS and add tution fees as amount as salary/perquisites? Is that be added in my income? Or suggest best way to benefit of employer and employee

A Private Limited Company took startup recognition certificate in April 2023 and DIPP number also received.
Company Incorporated in December 2021
Q1:
Now Company wants to avail tax exemption under 80IAC from FY 2023-24 onwards.
What are the further procedures to be followed by Company to avail said deduction?
Whether separate registration required for availing tax exemption other than startup recognition?
If so, what is the time limit for applying the same to take exemption from FY 2023-24.

Q2:
If Company intent to avail registration after two years (ie, from FY 2025-26 onwards), if I apply now for 80IAC tax exemption whether exemption will applicable from FY 2023-24 or Can I take exemption later for any 3 years consecutive years in the 10 years?

R/Experts

We have received a grant of incentive from Government of Punjab under Fiscal incentive scheme on the basis of Investment in Plant & Machinery of New Unit. Unit in production since 2017. Incentive received for the period 2018-2021 in FY 2023-24.

Query is the incentive should be credited to Plant & Machinery A/c or Credit to Incentive A/c ( as a income)

Thanks

Sir

Please educate to me i have purchase some stocks from Share market through delivery.
I have hold it and sale after 3 Days and some time i have hold it One month. My profit and loss statement from Grow app show many transactions where i have done one Interaday Transaction . So please suggest One interadaay transaction can i show in Capital gain. As information available Interaday transaction is the part of business income. Earlier years i have filed ITR-1 income from Salary and interest from Bank.