Dear Experts
Can TCS Paid on Purchase of Car be claimed as an Input ? The Car will be shown as an Asset in the Books. The Invoice shall be in the Name of the Company and Company's GST Number shall also be mentioned in the Invoice.
Thanks in advance

It shows the error, "In part B TI, Sl.No. 19 - deemed income u/s 115JC is not equal to Sl. no.3 of schedule AMT". But my all figures are matching with the respective schedule. How to solve this error.

Sir
Assessee earned a LTCG in the AY 2021-22, purchased property to claimed deduction U/s 54-F. However all these transactions had not been shown in his ITR for AY 2021-22. Now there is scrutiny proceeding U/s 143(2). During course of assessment proceedings can assessee claim the benifit of 54F. Please advise

Shall you please clarify on below on ways to avoid i-tax for this fin year, as extended HELP.

Q1. U/s 87A, will a non-salaried person (no income other than Capital gain) < 60 age, can get exemption of Rs.25000 (having leass than 7 lac income) against capital gains.
Similarly, Can the same person get 50000 std.deduction?

Q2. STCG =X LTCG= Y, At the time of efiling, Can I adjust i.e. deduct the basic nil tax limit of 3 lac against STCG, rather than LTCG?

Q3. TO avoid tax, what shall I do till 30.3.24.
Any other way other than selling shares for loss, and re-buy to neutralize for tax limit.

Q4 While I am a second member of the trading a/c, and wife as 1st Holder. , to bring in nill tax , Can we share the capital gains STCG or & LTCG? I shall file in old regim, she will in new regim. Subsequent years, we shall not share these gains?

Q5. Can any one (salary & OR profession) filed in NEW regim earlier , now shall it be filed in OLD regim and vice versa.

Hi Sir,

I have a housing loan and loan sanction date is 30-April-2016.

My Query is can I claim Interest and Principal payment which I paid in the FY 2023-24 for under Section 24 and Section 80C ?

Thanks in Advance

Sir, for the Asstt.Year 2011-2012, one of the advance tax payment was not given credit while processing the ROI under 143(1), hence, there was a demand to that extent. We have raised the Grievance to the extent and in the resolution we are informed that “ you are requested to file the rectification application along with supporting documents for taking necessary action” is what the massage received. When we check the same in the income tax portal, no such enabling option is made, so, now what to do ? or do we have to make an application in manual to the Jurisdictional Officer or how to proceed sir.

Hi Expert
I have one case where purchase consideration is being paid in installments, First Installments was made on 15 Nov 23 and buyer is forgot to deduct TDS,

Although he deducted the total TDS on 2nd installments on 15 Feb 24 (including previous TDS amt).

My question is , whether Buyer has to file 2 form 26QB like first is of Nov 23 and 2nd is of Feb 24 or
Buyer can report in single form 26QB.

if buyer goes with first option then he also have to pay interest + penalty of Rs 200 per day from 30 Dec to till date max up to TDS amt.

In my opinion we can pay interest of TDS that was not deducted in first installments and file single form 26QB , Please correct me if i am wrong.

Please advise

Regards
Deepak

what are the consequence if we forget to show gift received from relative at the time of ITR Filing ?
and also it is mandatory to prepare GIFT Deed on stamp paper ???

Hi Sir,

Does dental check-up come under preventive health check-up, and can it be claimed under Section 80D?

Thank in Advance

Assessee has sold residential property during FY 23-24.
From the sale proceeds, he has purchased a new residential property during FY 23-24, but the property is purchased in the name of his son, (son is non-resident).

Is the assessee eligible to claim Capital Gain Exemption? If not, what are the options available to claim the exemption?

Please clarify with applicable section.

Thank you