Sir,
Tax audit it person f.y.21-22 dt:30-09-22 filed .but refund amount rs:2 lacs not received at present date.intimation 143(1) issued.

Question:
Assessess refund amount received procedure

Hi

Kindly suggest if we have paid excess tds tax in 194 c then can we utilize excess tds in 194 j or other head ?

second if during previous fy year or same financial year we have paid some excess tds can we utilize excess tds in next financial year and in next quarter of same financial year?

Sir,there is an error message showing "since you have income from business/profession kindly fill the financial particulars of business in schedule BP" while trying to upload the json file for filing ITR 4. But, the assessee has filled all the applicable financial particulars and also filled value as 'zero' in non applicable fields of schedule BP. Could you please help me on this?

My client is a real estate developer & going to purchase land, in which party asks him to pay INR 20000.00 in cash and the rest of the consideration amount in DD (A total 5 parties involved in the purchase, 1 party fully paid by DD and the rest of 4 parties demanded INR 5000/- X 4), Is any restriction applicable u/s 269S, 269T or any other rule to pay this cash & record in memo page of deed?

Sir,

Can We quite ITR-4 to ITR-1 because no business income. income only from Salary. in FY 2020-21 Filed ITR-1 income from Salary+Other in interest from FDR+ tuition fees In FY 2021-22 Filed ITR-4 income from Boutique + Other in interest from FDR+ tuition fees So please guide to us Can we face any problem in future from IT department.

Respected Experts,

Can we prepare P&L, BS for Filing IT U/s 44AD of Income Tax Act 1961.

Im aware that there is no provisions for expenses and Depreciation in ITR4

Still drafting a P&L & BS is necessary?

I saw many of the CA's and Tax Consultants, are just providing Computation sheet for 44AD

Whereas it is not acceptable in the Banker's end - while the client submitting documents for Loan purpose, and the Banker asking to provide BS& PL.

Kindly advise

Mr A and Mrs are husband and wife.
Mr A gifted shares to Mrs A worth Rs 50,000 in 2010-11
Expecting the shares to be sold in current financial year, Mr A and Mrs purchased a house property (joint ownership between Mr A and Mrs A) for Rs 5 Lakhs in March 2022. Mr A provided Rs 2 Lakhs From his personal funds and Rs 3 Lakhs through joint home loan.
Mrs A sold the shares in June 2022 for Rs 5 Lakhs which is also the long-term capital gain for her. The sale consideration from shares was credited in her account and the home loan was disposed off.
Income from sale of shares is to be shown in the ITR of Mr A after application of clubbing provisions of section 64(1)(iv)
Mr A and Mrs A want to opt for co-ownership in proportion to their investment and also claim 54F for both Mr A (transferor) and Mrs A (transferee) investment. i.e., Mr A wants to claim exemption under section 54 F for investment done by both Mr A and Mrs A, in purchase of joint property, (Mr A provided Rs 2 Lakhs from his personal funds and Rs 3 Lakhs through joint home loan which was disposed from sale consideration of shares), the money was credited in bank account of Mrs A and loan was disposed through check.
Query - Whether or not eligibility claim of Section 54 F will be accepted by the Income Tax department regarding joint investment / joint ownership of residential house with both Mr A (transferor) and Mrs A (transferee) eligible to claim section 54F on sale of shares.
Please support with relevant case laws, if any.

I used to have sole proprietorship business in my name till FY 2016-17 which i transferred in the name of my wife( she files ITR 4) in FY 2017-18 but the person who used to file my return continues to file ITR 4 though i have only salary and dividend income....,now i want to rectify it ..,,can i directly file ITR 1 in AY 2023-24. Will i receive any kind of notice for that..,,my income shown below 4.5 lakhs ..PLZ HELP ME

Sir
Every year bank deducted TDS , even after submission of form 15H . If it is complained to the Branch Manager , his straight reply " File IT return , you will get refund ". Where Can I complain for wrong deduction of TDS ? Every year I have to pay Rs. 500 /- for submission of IT Return.
With regards ,
Sudhir Saha

For claiming deduction u/s 54F we have to invest amount in residential House and also hold such property for 3 year but my issue is 3 years is counted from which date from the date of payment or from the the date of possession of Flat.