If an assessee has sold a plot which was held by him for more than 20 years and deposited the capital gain amount in Capital gain account scheme. Also failed to reinvest the capital gain amount into new property. What should be the implication ?

Dear Sir,
While filing ITR, in AIS report in Income Tax paid section Rs.180000/- has been showed as paid. But one entry of Rs.15000/- shows as status ' Inactive' and in Form 26AS TDS is shown as Rs.165000/- . My question is my this Rs.15000/- is not debited in AIS because while filing it is shown as paid actually it is the entry corrected by CA. So what should I do ? Should I go with AIS report or Form 26AS report while filing my ITR

Regards

In FY 22-23 I had two transactions of STCG nature resulting in an overall loss. how do i show this in quarterly breakdown. i am unable to proceed with filing my return.

I want to file a return for Fy 2021-22, Ay-2022-23. My income is less than 2.5 lakhs. Tds deducted was Rs.3000, unfortunately, the company didn't provide me Form16a at that period. After giving them a reminder on June 22, 2023, they sent me the form16a on June 23, 2023, through email. If I file my return now, will I have to pay any late fee? If yes, then how much is the late fee going to be? I would be glad if you can help me with an answer.

Dear Sir,
I filed my ITR for FY 2021-2022 in old regime. For FY 2022-23 Income Tax is less in new regime than in old regime. I am a salaried person. So can I switch to new regime for filing FY 2022-23 ITR Returns. Please guilde.

Regards

OLD BIKE PURCHASED IN CASH FROM INDIVIDUAL BY DEALER AND PAID CONSIDERATION IN CASH.

NON COMPLIANCE ?

SECOND HAND BIKE DEALER PAID CONSIDERATION IN CASH TO OWNER OF THE BIKE.
AND THEN HE REPAIRS BIKE AND PAID REPAIR EXPENSE TO GARAGE OWNER IN CASH
AND SALE IT TO CUSTOMERS THROUGH CASH.

TRANSACTION IS APPROX OF 50 LAKH
IS THEIR ANY NON-COMPLAINCE ?

Hi,

My income from all sources is way below the taxable limit under new tax regime.
If I do intraday trading, and if the speculative profit I earn too is below the taxable limit after adding all the income sources then will the speculative income is tax free?

Thanks

Condition No. 1 – Agricultural Income exceeds INR 5,000 P.A
Condition No. 2 – The total income (excluding the Agricultural Income) is more than the basic exemption limit.

Are both these conditions to be fulfilled in order to file ITR 2 mandatorily? What if only condition 2 is fulfilled?

Hi team,

Any idea if the enhanced exemption of 25 lakhs under leave encashment for pvt sector is available for AY 23-24. It was announced on 24th May 2023. However , will this be effective for AY 23-24. or is it still 3 lakhs only ?

Thanks
Mukund