We have received a demand notice from a government department regarding salary monitoring fee, the amount of which is Rs.88265/-. So, can we know whether TDS is applicable on this fee or not?

SIR
MR A. 140-A TAX PAID FOR WRONGLY IN PAN NUMER AS ON 30.07.024 FOR THE ASST-YEAR 20240-25. THROUNG FOR HIS SB A/C . HOW THIS CHALLAN ERRO RETIFICATION AND RECOVER THIS AMOUNT FROM THE PAN HOLDER . MR A LEVING IN MADURAI AND HIS WARD IS 1 (7) BUT HE PAID WRONGLY PAN HOLDE IS LEVING IN RAJASTHAN.
THANKS

Hello, I sold Urban Agriculture land on 1st April, 2025 capital gain arises of Rs 45 Lakhs and I want to purchase new agriculture property new agricultural land which Govt. value i.e stamp value is Rs 25 Lakhs & Purchase consideration is Rs 48 Lakhs so can I claim Rs 45 Lakhs as exemption or not. Please explain. Also, tell any reference of provision/rule for the same.

Hi Sir,

By mistake I deducted 5% TDS on rent and now filled form 26QB for refund of excess TDS. In final instruction it is mentioned to submit 26QB acknwledgement along with cancelled cheqe and PAN card copy to AO. Now my Faceless AO has been assigned from different juridction.

Please suggest
1. Do we really need to submit Hard copy?
2. If hard copy need to be submited of 26QB, then it need to be submitted to juridcitoion AO or faceless AO or both.
3. Can this be courried to them or I need to go personally to submit this?

Thanks in advance for your support.

Sir

What is the turnover slab for IT audit 1 Cr or 2Cr for the Assmt.Yr 2025-26

With Regards

S M basha

Sir,
My question is :
Why gift money to maternal uncle is taxable u/s 56(2)(x) if brother of parent of an individual is counted as relative according to section 2(41) of income tax,1961 ? My maternal uncle is certainly the brother of my mother who is my parent ?

Also please clarify if gift deed can be made now for gift given in the past.

Thank you

My Mother and I are co-owners of the Property (Rs 6,00,000/-): My Mother owns 90%(5,40,000/-), and I own 10% (60,000/-). I am paying my 10% (60,000/-) Payment to the Seller by Deducting 1% (600/-) from it. Do I have to prepare two Challans? (Mother & mine on Pro-rata basis, i.e 90% & 10%) or only mine.

I have filed TDS 26QB on 24-Mar-25. Received acknowledgement with default on 1-Apr-25. There was a mistake in amount paid/credited that I want to correct but TRACES is giving error
"There is no data available for the specified search criteria"
However, the challan status shows as Fully consumed and Processed with Default.

Please guide
Thanks,
Saurabh

KIND ATTENTION SIR KINDLY GUIDE US TO ,FILE STAY PETITION WITH CHEIF COMMISSIONER OF INCOME TAX , REQUESTIING TO GRANT STAY AGAINST THE DEMAND RAISED ( DEMONETISATION CASE ) FOR THE TAX DUE PERTAINING TO THE DISMISSAL OF APPEAL ORDER OF THE DECEASED ASSESSEE AND LACK OF RESPONSE BY THE DECEASED ASSESSEE LEADING TO PENALTY PROCEEDINGS. AT PRESENT LEGAL HEIR HAS BEEN ADDED AS AUTHORISED REPRESENTATIVE TO FILE REPLIES TO PROCEEDINGS AND APPROACHED THE DEPARTMENT FOR WAIVER OF DEMAND AND PENALTY DUE TO LEGAL HEIR'S STRUGGLE FOR SURVIVAL . THE DEPARTMENT HAS INSISTED TO FILE STAY PETITION WITH CHIEF COMMISSIONER OF INCOMETAX FOR GRANT OF STAY AGAINST DEMAND AND PENALTY ORDER . CAN WE FILE STAY PETITION THROUGH ONLINE MODE OR ONLY IN PERSON. KINDLY GUIDE US IN THIS REGARD TO HELP THE LEGAL HEIR .
THANK YOU SIR.

Dear Experts,

TDS is required to be deducted if turnover in previous year crosses 1 cr (for business). Will it be required in next year if turnover is below 1 cr?

Eg:

FY 22-23 - Turnover 1.4 Cr - Hence TDS required to be deducted in FY 23-24 since T/o crossed 1 cr in earlier year

FY 23-24 - Turnover 70 lakhs

In this case , whether TDS is reqd to be deducted in FY 24-25 since turonver in earlier year was below 1Cr. Also TAN number is still active.

Pls advice

Regards,