Dear Experts,
My father gifted shares by transferring through off-market mode and stating the reason as Gift against the code. On receiving transaction statement find that they - DP (ICICI) mentioned only the account Nos. Vice-versa in narration without mentioning as Gift.
Does this transaction invite scrutiny from the I T Department considering it as an off-market sell and levy tax at higher rates.
Brought to the notice of DP but said they don’t mention. Previously they used to mention in statements and find that for all other off market transactions they ask to mention the reason code and type and same gets reflected in statements.

Thanks in advance 🙏🏻

I AM INTENDING TO SELL A PROPERTY FOR WHICH THERE IS A LONG TERM CAPITAL GAINS OF AROUND 4.5 CR - HAS THE SURCHARGE FOR AY 23-24 BEEN CAPPED TO 15% OR IS IT STILL 25%
REGARDS - RAJEEV

OUR'S IS A COOPERATIVE BANK . WE FILED RETURN UNDER NEW SCHEME U/S 115BAD. IN THIS CONNECTION WE RECEIVED NOTICE U/S 143(1)(a)(ii)
"In schedule AMT, Sl.No.1 is not equal to Sl. No.13 Total Income of Part BTI. Hence amount at Sl.No.1 of schedule AMT is recomputed accordingly,"

Please suggest us

A NRI assessee wants to transfer funds from his NRO bank Account to his Foreign Bank Account. Amount that to transfer is more than 10 Lacs. (which is balance as on date). ITR is been filed regularly.

Whether Form 15CB will be applicable ? Or just to file form 15CA ?
For Form 15CA under which part form to be filed ?

on 30th september' form 10 B was filed with wrong figures with correct Statements of Accounts. Is it possible to withdraw the wrong Report and file the correct one. No option is available in the
I T Portal to Revise 10 B audit Report Abinaya

Sir,
A it person own property (cinema theatre) gift to sister's son after another date sister's own property (cinema theatre) gift to brothers son received.
Question:
Above mentioned two gift transaction allowed and capital gains tax applicable.

How to make final accounts of a proprietor who have 3 firms located in same area.. can i add all income and assets in one p&l ,b/s or have to ready 3 different p&l, b/s ?

Hello All
Happy Dussehra!
Pl let me know how to calculate the DEBT SERVICE COVERAGE RATIO WITH EXAMPLES.
Let suppose my co's unsecured loans and secured loans are 100000/- then how to calculate the ratio . In operating Income what should I include.
Pl guide.
Regards

Hi
My name is ganesh shankar and my firm Name is Gauri International Trading a partnership firm.
We started our business in Oct 2021 and still pending with the ITR and audit of my firm. My sales turnover is around 9 lakhs from Oct 21 to March 2022.

I am not sure whether I need to file the ITR with this turnover.

FEMA laws on lottery winning outside India and transactions
As Indian resident

**if I purchase a online lottery ticket in India(means stay in India) not actually visited Dubai(UAE) for lottery ticket
Is it OK or prohibited for such purchase online transaction activities
-Remiteence from the lottery jackpot winning money
-Remiteence for purchasing the online lottery ticket in India
As a Indian resident, is it prohibited to take winning jackpot amount which takes place outside india(dubai lottery organization )
As I now income tax as no problem I will pay 30 percentage tax
but what about FEMA laws and enforcement department on winning jackpot amount and is there there any future trouble from ED AND FEMA LAWS