I have entered into agreement for purchase of flat on24.02.2020 and amounts are paid through bank loan.Flat is not registered in my name.
Occupancy / possession taken on 08.06.2022 .
I have sold the flat on Sept 2023.The sale deed shows my name under "Consenting witness"and not as VENDOR.
Buyer has deducted TDS in my name even though flat has not been registered in my name
I have capital gains of Rs.20 L on this transaction
I have entered into other agreement for purchase of flat on Oct 2023 and paid entire cost of flat.
Can it be treated as long term capital gain and can I claim exemption under section 54 / 54F

Hi Sir,
My CA filed return for AY22-23 incorrectly considering only one form16a instead of two ( I had company transfer and so had two form 16s) as a result I got a tax notice.
For correction she filed updated return u/s 139(8A) which got rejected with "Updated return filed not complete hence not valid". After this updated return, there is no tax liability shown in portal but I am expecting refund since I have paid more taxes during that year.
Please suggest how to proceed.
Thanks,
Sonal

FACTS:
There are some house properties and vacant lands that are jointly owned by myself, my sister, and my mother. Rent is being credited directly to my mother's account based on the NOC given by my sister and myself. We don't want to claim anything from that rent. These properties were inherited equally by all three of us from my Late father based on Hindu Succession. TDS where applicable is also being deducted by the tenant only in my mother's name.

DOUBTS:
Whether the income from rent need to be shown in the ITR of all co-owners or only in my mother's returns? Is this a case of diversion of income by overriding Title or merely an application of income?

How much gift a brother can receive in india from his brother reside abroad via bank transfer in Yearly basis.

Respected Sir

The Cash Expenses Limit in Income tax is Rs.10,000

My first question is - is this limit Include Purchase of goods
If we Purchase goods for sale more than 10,000 then we have to pay this amount other than Cash ???

And the Second question is if we declare our income under presumptive u/s 44ad than also this rules are applicable ???

Sir,

Please Tell us bearer Cheque limit as per income tax.

Sir, we made advance payment of Rs. 1 crore on 03.12.23 to buy a machine worth Rs. 2 crore, but no TDS was deducted, now today invoice received, so which TDS and late payment penalty will arise, and which amount. Kindly advice.
Thanks

Sir,
An individual NRI who is tax resident in US, is required to report his Indian income while filing his return in USA.
The income generated in India is mainly from of Bank Interest and Interest accrued in PPF in a case .Now since this is not much amount , and therefore no use of availing benefit of double taxation as it involves various compliances also. So better to pay tax in India in a normal procedure/ and rates . But in India TDS is deducted by bankers at prescribed rates and while filing of tax return some refund is generated as actual tax liability after exemptions/deductions in India will be less than TDS deducted by bankers here.. In foreign country this gross interest is added ( after conversion in their currency ) as part of income statement there.
Hence following queries:-

1.While filing return in USA ' Tax Paid ,is required to be reported. Now what should be reported . Is it actual TDS on gross total interest income or is it net taxpaid in India on Total Income .i.e liability calculated after exemptions deductions. ?
2. If in any case Tax payable on Total Income is less than TDS , then refund arises. In this case also Is it TDS to be reported or NIL tax is to be reported. But here it is not possible to report nil as TDS already appears in Bank Statements and amount of tax liability on Total Income differs from that amount of TDS.
In US financial year is calendar year whereas in India it is April -March so it is also not possible to proportionate the tax paid if any. So how it can be correlated / appropriated /reported there.

3. Financial year is. Calendar Year ;at that place whereas in India it is from April-March. Therefore it necessitates to adjust India income for one quarter each year to make is as per Calendar Year . What is appropriate in such situation. Is it good to report as per IT return in India i.e. as per Financial/Assessment year OR to adjust figures as per calendar year and and make it usable figure for reporting purposes there

4. Is there any specific guidelines on these issues ?

Pls guide.

Good evening Sir/s,

what is the applicable surcharge for AY2022-23 for the gross total income 74,10,814/- CPC levied Rs.16,87,570/- surcharge in their proceedings, where as tax on such income is Rs.19,00,285/- kindly guide me in this regard

TODAY I MADE A PAYMENT OF 1000 FOR LINKING AADHAR WITH PAN BUT UNFORTUNATELLY I MADE A MISTAKE IN CHOOSING MINOR HEAD BY MISTAKE I CHOOKE MINOR HEAD 400 IN PLACE OF 500, KNOW WHILE I WENT TO CORRECT IT THOUGH INCOMETAXEFILLING CORRECTING MINOR HEAD TO 500, IS NOT SHOWING .
WHAT OPTION I HAVE TO CORRECT IT