Respected Sir
I have not filled Income Tax return for A.Y. 22-23, in this Year TDS Deducted 22,000 u/s 194H
Can i Claim this tDS in A.Y. 23-24 Return ?

if Yes then What Income Should be Declare in itr i.e. only Current year income or Current plus Previous Year income

and What is the rule of Claim TDS of Previous Year ??

Dear Sir / Madam,

My query is as follows:

Mrs A had invested in RBI Bonds (Cumulative) in past, few of which got matured in FY 2022-23. She received Gross interest of Rs. 1,94,000/- and interest in maturity of Rs. 19,400/- as per Form 26AS.

However, out of Rs. 1,94,000/-, she showed Interest received on ACCRUAL basis on these bonds totalling to Rs. 96,000/- in past 3-4 Income Tax returns. No TDS was claimed on earlier interest income of Rs. 96,000/-. She was not aware of treatment of interest income.

As she had already shown interest income of Rs. 96,000/- on accrual basis in past returns, now the real income remains as Rs. 98,000/- to be shown in ITR, but now Form 26AS shows RBI bond interest as Rs. 1,94,000/- and TDS thereon.

Now in ITR of FY 2022-23 how to present this information, to show correct income of Rs. 98000/- ??

Kindly guide me,
Regards,
Suraj

Let me explain the situation through an example. Two people ( A and B) want to exchange their land(same state, different cities, non agricultural) through exchange deed without any monetary consideration. Both of them have held their land for more than 10 years.

Before exchange of land :

Land of A :
the indexed cost of acquisition is 1 lac
the stamp duty value of land is 8 lac

land of B:
the indexed cost of acquisition is 2 lac
the stamp duty value of land is 10 lac

After exchage, what will be the income tax implication for both A and B ?

AIS & TIS are showing more interest as paid by bank on deposits while in 26AS and form 16A are less; while AIS & TIS match each other and 26AS &16A (Traces) match each other.

As such it is difficult to ascertain actual interest paid/ accumulated by bank, other than relying on 16A (Traces) issued by the bank.

bank may account the differential amount (26AS to AIS) as accumulated interest as paid in subsequent year.

Kindly advise, Is it better to adhere to 16A (Traces)/ 26AS than on AIS/TIS (interest paid ? or interest accumulated??) for interest paid by bank,for filing Current year IT return?

Which itr form can be plumber suitable for a person doing plumbing activities? If he opts for sec 44ADA IN ITR-4 then which profession code should be convenient for the plumber?

ONE OF MY CLIENTS HAVE LESS INCOME IN FORM 16 BUT IT IS HIGHER IN 26AS, BECAUSE ALL DEDUCTIONS OF LOAN ETC. HAVE BEEN ADJUSTED IN FORM 16 ,, WHICH INCOME SHOULD BE CONSIDERED TO FILE INCOME TAX RETURN?

My taxable income is around 2 lacs , can I show fake extra/other income of 2.5 lacs while filling ITR? whatever the case I am exempted from tax liabilities.

Please advice.

I have a few questions. I am selling a plot. I am a OCI residing primarily in India. I am also providing access to the plot via another section of my property for which I am charging separately.
Questions:
1. Though a citizen of another country, I am residing primarily in India. When selling property does the buyer need to deduct TDS? Online guidance surprisingly states that the answer is no. That it is the residency status and not the citizenship that matters.
2. Is the TDS percentage the same irrespective of whether the payment is made for sale of property or for access/use of another property.
3. If the buyer does not deduct TDS then do I file taxes in India at year-end. My income is below the lowest required for filing taxes in both India and the other foreign country of which I am a citizen (due to substantial losses in business).
4. Do I need RBI clearance for selling a property to an Indian citizen residing in India?

SCHEDULE PART A GENERAL -
Whether you are director in a company at any time during the previous year?
If yes please furnish the following information.
The popup window to select YES or NO seems to be disabled as a result validation of the work sheet is not possible. Tax is not calculated. How to proceed now. I have downloaded ITR-2 from Efiling site number of times, it is happening with all the downloaded files

Respected Sir / Mam
Can I show travel agent income in Itr under presumptive scheme.
Regards
Varun dhiman