assesseee got allotment letter/mou dated 2009 from builder
got flat possesion from builder and registered in 2015
after possession , sold flat to new buyer in 2016
question --> while calculating cap. gain for 2016, period of holding will be from 2009 or 2015?
my view --> from 2009 as mou /allotment letter can be said to be purchased (albeit it was just a right in capital asset back in 2009)

Resolved and deleted.

Dear sir,
One of our client was a Director in a Pvt Ltd company and had applied shares at the time of allotment @ 10 and Latter on there was a right issue which was also subscribed by them @ Rs65/- now they have sold shares of the Pvt Ltd Company @ 160/-. Is there any implaction that we have to go for valuation or go for Rule 10UAA. Kindly guide and will indexation will be available as allotment was in Fy 2013-14

Note that we have already submitted our 26Q2,2023 Return timely and here shown one Transporter whose one bill taxable Value Rs. 32,500.00 but not deducted any TDS (i.e. 0%) because Transporter given us Declaration for Not Deducted TDS Purpose.

After Return submitted Department issued us short Deduction Notice Rs. 7150.00(including Interest) because Transporter Not Linked his PAN with Aaddher.

Note that We already paid this above demand amount and Online Added our Challan Details in statement on Trace website and create conso file.

Now our Question is how to show this paid demand amount in revised TDS return (CONSO FILE) .

Hello All
I want to know if I give some amount in shape of gift to my brother who is a NRI.. SHALL THAT AMOUNT WILL BE TAXABLE IN THE COUNTRY AUSTRALIA in his income tax return..
Pl do reply.
Regards

I have received below answer;

Your ITR is invalid till the condonation request is approved. However, if the time to process the return u/s 143(1) of I.T Act is over, it is deemed that the condonation request, if any, has not been considered (or) has been rejected by the DIT(CPC).
Jan 25, 2022

Sir,
Professional income sec 44ada provision it returns filed person cash loan debtor balance write off adjustment entry with cash loan creditor two persons not same persons.
Question:
Assessess Book adjustment entry sec 40 a(3) and sec 40 a(3a) provision applicable in it act.

Sir/Madam

I have foll. query regarding new housing loan-

I have to buy one Bungalow which details as follows-

> Cost of Bungalow is of Rs.75,00,000
> Housing Loan sanction is of Rs.70,00,000/-
> Sales Deed of Rs.49,00,000/-
> Property Valuation of Rs.85,00,000/-

Bank will pay to the seller of Rs.49,00,000/- and different amount of Rs.21,00,000/- in my saving bank account.

1) My question is that how i will to seller diff. amount by Cheque or Cash.
2) What is the sales consideration for Seller for capital gain working Rs.49 lacs or 70 lacs?
3) if seller not accept cheque then what is the solution?

Sir,
A resident individual intends to send under Liberalized Scheme an amount of
Rs Seven Lacs approx to his daughter-in-law (Son's wife ) who is NRI and is employed abroad. Hence following queries :-
1. Is ' Daughter-in-law ' as a recipient , covered under the definition of ' Close Relatives ' for purpose of sending money abroad to her .
2. Can it be classified as- for purpose of ' Maintenance ' OR it has to categorized as a ' Gift ' while filling form at remitter bank's counter. ?
3 Is there different rule / limit applicable when sent for ' Maintenance purpose ' or for 'Gift purpose ' ?
4. Is it exempted under both situations of ( maintenance or gift ) and is covered under definition of ' Gift from Relative ' and will not attract any ITax .?
5. Can it be sent directly from resident saving a/c to NRI 's foreign bank abroad thru wire transfer . ?
6. Is there compulsory rule to transfer this amount to NRO a/c of daughter-in-law if it is an ' exempted gift ' .?

Pls guide on above pointwise .

Assessee has declared gross receipts of Rs. 29. 95 crores whereas in 26as gross receipts shown is Rs. 21.55 crores on which TDS has been deducted u/s 194Q of Rs. 2.15 lakhs.

in 26as cash withdrawal entries for Rs, 11.80 crores are shown under section 194N on which no tds has been deducted as the assessee is APMC agent.

Department has considered cash withdrawal as income and made itr defective
15 days time is already lapsed.
what remedy is available?