This Validation shown below is related to Category B/D Validation Rules.

Error : The exemption is allowable only on the sources of fund derived from property during the previous year.

Dear Sir,

My Assesses is filling his ITR after due date i.e. 31 Jul' 2022. Kindly advice, whether he will be liable for payment of Income Tax Liability along with Interest thereon or only Late Filing Fee will be applicable while filing his ITR.

Warm Regards,

Hi,
Need to get the format of letter for change of TAN no in one of the challan paid online

INVESTMENT IN NSC MADE IN APRIL, 2021 THAT IS TO SAY A. Y. 2022 - 23. 1ST YEAR INTEREST ACCRUED ON NSC IS TO BE DECLARED IN A. Y. 2022 - 23 OR A. Y. 2023 - 2024 ? AS I UNDERSTAND THAT INTEREST ACCRUED SHOULD BE TAKEN A. Y. 2023 - 24, SINCE INTEREST IS SAID TO HAVE ACCURED AFTER COMPLETION OF 1 YEAR. AND THAT 1 YEAR IS GONG TO BE COMPLETED IN A. Y. 2023 - 24. AM I CORRECT ? CAN ANYONE CLARIFY.

I have a strong doubt that my employer (Central Govt. Civil dept).is calculating 17(1) wrong. Before making an appeal to higher ups I want to make sure.
Pl enlighten.

Dear Experts
One of my client is dealer of second hand car. Till last year, his turnover was below 2 crore and so income was declared u/s 44AD. But now this year, his turnover is around 4 crore and cash receipts and payment are less than 5%.
My question is whether he is liable to tax audit as he was declaring turnover u/s 44AD earlier. His profit is also below 8% in current year
However, I feel, if turnover is exceeding 2 crore, it cannot be termed as Opt out. can we maintain books of accounts and file return without audit u/s 44AB and can declare profit less than 8% ? please guide

Sir,

An NRI Assessee sold his plot during FY 2021-22.

At that time the Buyer had wrongly filed Form 26QB deducting TDS @1%.
Later on he again filed Form 27Q deducting TDS @22% for Non Resident.

Now there are two entries reflecting in his Form 26AS.

Now I want to know the procedure by which the buyer can withdraw his Form 26QB wrongly filed by him.

Please help me in this regard.

IN ITR-7 DETAILS IN REGISTERED 80G WHERE WE HAVE TO WRITE( 11-Clause (i) of first proviso to sub-section (5) of section 80G )

IT IS IN DETAILS OF REGISTRATION
DETAILS OF REGISTRATION OR APPROVAL UNDER INCOME TAX ACT UNDER
OTHER THAN UNDER SECTION 80G

My mother has received CPC notice for tax claimed under 37 BA(2) against TDS deducted for deceased husband. My mother and father held joint fixed deposit accounts and after his death the joint FD account was continued since bank did not allow transfer of the FD account from primary account holder (my father) to secondary account holder (my mother). After my father's death in 2018, the bank continued to deduct the income tax under my father's PAN. For AY 2021, I have claimed the TDS deducted under my father's PAN in the hands of my mother. As per section 37 BA(2) clubbing provision of Income Tax Act, I have claimed the TDS, but my mother has received notice. I have some reference article in regards to same:
http://taxscoop.in/entries/income-tax/claiming-tds-for-income-under-clubbing-provisions

Query: How can I resolve this issue and reject the demand issued and close the matter.
I would appreciate if any of the experts help me resolve my query.

Dear All

My income is Rs 585000 for FY 2021-22. In that RS 95000 is out of Long Term Capital Gain.

I am filing my income tax return on 18th September, 2022.

In that case what will be the amount of late filing fee u/s 234F Rs 1000 or Rs 5000??

Moreover Whether income after deduction u/s 80C or before deduction u/s 80C is considered for calculating penalty u/s 234F?

Thanks
Nirmal