Hello Sir,

During my ITR filing, I had an outstanding amount to be paid. I made the payment using a challan through ICICI Bank, but the challan details were not entered into the ITR system. As a result, after two months, I received an outstanding demand notice from the Income Tax Department.

To resolve this, I paid the outstanding demand again using a challan from ICICI Bank and correctly entered the details in the ITR system. My outstanding demand was closed, and my ITR was successfully verified.

However, I had already made the first payment, which was not accounted for in the system. How can I claim a refund or adjustment for the first challan payment?

Hello all...
Can I select New Tax Regime while filing updated returns u/s 139(8A) for AY 2022-23. ??
Please note that I have not filed ITR previously.

Foreign holding company transferring its holding in shares of Indian company to an another foreign company.

Whether provisions of TDS applicable in this case? Both the foreign companies is not having PAN.

Any case laws is there in connection with the same?

From 01.04.2025:

1. Building Rent per month is INR 40000. If I pay 16 months rent, i.e., INR 640000 during the FY 2025-26, I don't need to deduct tax.

2. Building Rent per month is INR 55000. If I pay 1 month rent, i.e., INR 55000 during the FY 2025-26, I need to deduct tax.


Am I wrong?

Hi All,

A property was acquired jointly by an assessee in FY 2000-01 along with her husband with each having 50% share. (Rs. 10 lacs each)
The husband passed away in the year 2020-21 without any will. Consequently, the assessee and her two sons inherited 1/3rd share of 50% of the property (husband’s share in property).
In FY 2024-25, the two sons signed a Release Deed in favour of the assessee (their mother) and transferred their share of 16.66% each to the assessee.
A month after the release deed was registered, the assessee sold off the property for 80 lacs.
My questions are
1. Will the capital gain for the share (of around 34%) acquired by the assessee through release deed be held as STCG or LTCG?
2. What will be taken as cost of acquisition for the share (of around 34%) acquired through release deed?
3. If LTCG, the will indexation benefit be available for the share (of around 34%) acquired through release deed?
4. What would be the base year for the indexation benefit for the share (of around 34%) acquired through release deed ?

Thanks
Niki

I have sold an apartment in Bangalore on 19 September 2023( unregistered apartment)and purchased an apartment in Hyderabad on October 13 2023 with sale proceeds of the above said Bangalore apartment.
I have claimed exemption under section 54 while filing my return .
If I want to sell the new apartment once construction is over,will they disallow my exemption which I claimed in my Return ?

Individual, Indian Resident, is having substantial interest in Dubai Limited Liability Company. What formalities he has to adopt and the taxability of his income from that non-resident company?

BY MISTAKE ONE EXTRA TDS CHALLAN OF RS50000 DEPOSITED IN FY 20-21 FOR FY 19-20, WHICH FULLY ARE STILL UNUTILISED. MY QUERRY IS HOW IN FY 24-25 THAT 50000 CAN BE USED OR CAN TAKE REFUND FROM TRACES OR BANK

Sir,
I've received sms/email to file ITR-U for AY 22-23 but my gross total income is only 45000 from STCG in stocks.
Why they are sending for such a small income?
Thanks

One of my friends, who is an NRI ( due to employment in Oman), deposited Rs. 3 Lakhs in the federal bank for 10 years on 11/03/2015. She became NRI from 2017 onwards. Bank started deduct TDS from accrued interest but didn't inform her. Now when FD matured, the bank paid her after deducting the entire TDS (Approx Rs. 1 Lakh) from the 2017-18 Assessment Year till 10/03/2025. Now they mailed her all ( 29 Nos.) Form 16A certificates, from Asst Year 2017-18 to Asst Year 2025-26. 29 forms together.

Kindly advise whether she can claim the entire TDS refund now.