I've a couple of queries around LTCG u/s 54F.

1. Can I keep non-LTCG funds as well in capital gain accounts? I want to do this so that the corpus to buy a home stays in one place.
2. My mother wants to transfer me shares w/o consideration as a gift so that I can buy a home.
2.a. Will LTCG be exempted when I sell these shares?
2.b. Should I expect any notices if I try to seek LTCG u/s 54F in this case?
2.c. Can I be denied the LTCG exemption because of any reason in the above mentioned case?
4. Do I need to get any clearance from assessing officer when I close my capital gain account? If so, how to get it done?

Hi,
My AY23-24 refund is kept on hold with the message - "Refund kept on hold,Intimation u/s 245 is issued proposing adjustment of refund towards outstanding demand.
Sep 6, 2023". I checked the Outstanding Demand section and can see an action pending. How can I verify whether the demand is correct or not? Also, the demand is for AY 2021, so why is it being levied now given I had cleared my ITR in previous years? Is the simplest way to get the current year's refund to accept the demand and proceed? But then how will it guarantee that whenever someone files an ITR it is correct, and I can receive an outstanding even after 50 years?

Respected Sir I have filled return u/s 139(8A) but return is defective or incomplete .
the notice received as per below reason
Return has been filed u/s 139(8A), but it is not accompanied by the valid proof of payment of tax as required u/s 140B.
i have filled return of 3 lakh fifty thousand income , i have Paid 1000 Rs. Late fees under self assessment Tax (300)
there is no tax Liability arised u/s 140B so why i have received this notice and
How to Respond this notice ?

Sir,

I have filed ITR-4 from Previous 3 Years. every year books of account maintain No GST Number But FY 2022-23 we have GST Number and some income from Capital Gain. So Can i go for ITR-3 with the help of Books of accounts.
(2) If we opted out from 44AD in future can we file ITR-4
Please suggest sir

Hi Sir/Ma'am,

Do I need the copy of sale deed to claim the TDS deducted by the buyer for a sale of my property. He has shared the Challan details of the TDS submitted. What else are the documents required to claim the TDS deducted by the buyer.

Thank you!

This year I received my tax refund along with notice u/s 245 for my outstanding demand for financial year 2014-15. I responded to the demand and after raising a grievance on the portal recently an order u/s 154 was passed by my AO to rectify the omission. Now under section response to outstanding demand my current status is showing as green ticked on section payment pending/ response but still pay now option is enabled against the demand and same amount is reflecing against the same if I tried to proceed with pay now. Please let me know how can I know whether the demand has been set aside in portal or not. Also let me know after how many days IT will reinitiate my current refund process as it has been kept on hold after sending notice u/s 245.

Sir,
It assessess f.y.22-23 sec 44ada provision it returns filed dt:30-07-23.if intimation order received from late fees rs:5000/- demand raised.
Question:
Assessess return below time limit sec 234 f late fees provision applicable
And late fees pay compulsory

We are IT startup registered under DPIIT and have already taken tax (MAT) benefits since last 2 years. We are a non-funded company. So are we ELIGIBLE to buy a motor vehicle (CAR) above Rs.10 lakh for the company Directors?

80-IAC - Section 56 (2)(viib) states that tax exemption is application if "(f) a motor vehicle, aircraft, yacht or any other mode of transport, the actual cost of which exceeds ten lakh rupees, other than that held by the Startup for the purpose of plying, hiring, leasing or as stock-in-trade, in the ordinary course of business"

I think this rule of below Rs. 10 lakh motor vehicle applies to startup who have taken funding or issued premium shares. Or should we wait to provide car above 10 lakh after 3 years of tax benefits? Please provide clarification on this.

Thanks.

A company orders certain no of lunch say 100 qty for their employees at fixed rate.

restaurant packs the total lunch and company person picks it up from restaurant and brings it to company premises.

Restaurant raises monthly invoice.

Is TDS applicable u/s 194C in this case

Sir,

Proprietor,s business is installation of Power ( Solar ) Plants and agriculture income so can he eligeble to file ITR-3 with Proper books of accounts or delcar 8% Profit under Section 44AD.

(2) He paid labour Chages ( Installation Charges of Solar plant ) so please provide name of the account head and name of the group under Busy Software.