I have filed ITR1 FY.2023-24 but get defective due to 26AS showing 94C deduction. Deductor also changed to 94J now. Response time also over what should I do please help me in this

is there any way, we can surrender trust's 12A and 80G registration ?

Hi All

If existing private company issue shares at face value (even though FMV is higher than FV), what are the income tax implications of the same in the hands of transferor and transferee?

Thanks in advance.

Hi sir

I have inherit a land on 01.08.2023 which was purchased in the year 2001 , sold the land on 15.12.2024. should i calculate holding period from 2001 or it is from 2023? and can i get deduction u/s 54 against this land

if income is :-
1 lakh income from other sources
2 lakh short term cap.gain from sale of equity share via listed exchange
49 lakh long term cap.gain from sale of equity share via listed exchange
----
52 lakh total income

how tax will be in (new regime for individual below 60 years) because, Long term cap.gain will be sepserately taxed at 12.5% plus surch + cess, right?

also, what is order to absorb within basic limit? 1st short term then long term righT?

my view:-
there will be surcharge but confused, as non-long term cap. gain is less than 50 lakhs.
(strangely,tax calculator after logging in income tax efiling is not showing quick links).

Me and my wife have purchased land on 17.09.12 by Rs. 23.32 lacs and 23.17 lacs seperately and sold it by Rs. 55.88 lacs & 54.57 lacs on 23.12.2021. By the amount of Capital Gain we have Purchased a Residential property Jointly in the name of my wife and myself amounting Rs. 68.24 lacs and claim exemption u/s 54. But in the assessment CPC Bangalore rejected the claim u/s 54 without any reason and issued demand notice to both of us. Would u pls suggest , what should I do now ??

I have purchased a land on 17.09.12 by Rs.23.00 and sold it by Rs. 53.88 lac on 23.12.2021. By the amount of Capital Gain Rs. 19.00 lac I have Purchased a Residential property Jointly in the name of my wife and myself amounting Rs.34.00 lacs and claim exemption u/s 54. But in the assessment CPC bangalore not excepting the claim u/s 54 and issued demand notice. Would u pls suggest , what should I do now ??

is remuneration to partner of LLP is allowed under section 40B?

I am a US citizen with OCI card living in USA. If I move to India as a resident will my interest income in USA be taxable in india. Can I get double taxation exemption. My income is quite low for USA standards so after standard deduction I have almost zero tax to be paid there. But that same amount in Indian rupees puts me in a high tax bracket. It seems unfair that one has to pay a high percent tax if I don't get Double taxation exemption. Please clarify how that works.

Whether HRA exemption can be denied if (1) Individual pays house rent of more than 50,000/-, (2) TDS was not deducted
In the above case, IT department has paid refund. But ITD has issued notice to verify HRA exemption and update return.
How can an updated return be filed if TDS was not deducted by tenant?
Whether by updating return ITD is directing to remove HRA exemption and pay tax?