I'm in the process of filing my ITR-2. I have entered my LTCG and STCG due to redemption/switch/STP from some mutual funds to & from Short Term Debt Funds. The gains are not substantial. But I'm getting a validation error asking me to give Qtly. breakup. (1) Why is Qtly break up required? (2) Can i show the gains just in the last Quarter?

Greetings !

I have some doubts in my filing process.

1. I had short term capital loss from stock market. In order to carry forward my losses for next
year, Is it enough to just enter it in schedule capital gains section or Do I need to mention it
somewhere else ?
2. I had long term capital gains of less than 1 lakh.
As there is exemption upto Rs. 1 lakh, Do I need to show my gains or leave it ?
3. I have holdings in US stocks. I have purchased them in 2021 and foreign remittance of that
amount was shown in my AIS statement. I didn't sell anything, so there were no capital
gains/loss. I was just holding those stocks.
Do I need to show them as foreign assets in my filing ? If Yes, suggest how to do it.
4. I had received minimal amount around Rs. 100 as dividend from US stock holdings. Do I need to show them as
income from foreign assets or leave it ?
5. I have holdings in Indian unlisted equity shares. No capital loss/gain, only holding. Do I need to disclose them and
how ?

Kindly clarify my doubts.

Thanks in advance.

I have Opened Recurring deposit for 1 year duration during June'21 and the recurring deposit matured during June'22. I have received interest of recurring deposit during June'22(at the time of maturity). Whether the interest income of particular recurring deposit is taxable during FY21-22 or FY22-23 ?

Mr.A providing professional services to company X and he consider it as income from PGBP from past years. Mr.A received arrears of Rs.58875 for the month of January , february & March - 2021 in the month of JULY - 2021 . Whether arrears received in respect of professional services is taxable under the head salary or PGBP ? If taxable under salary, whether MR.A has to file Form 10E for the assessment year 2022-23. ?

Respected Sir

One of my client holding various scripts since long but in last year he transferred few of his shares holding in HUF into his personal name being karta

I don`t have exact valuation being cost of investments in shares is mentioned in his books & since old broker through whom he purchased the shares has closed his business, i am unable to trace out bills

How to derive the exact value of the shares

Please help

Regards

Tribhuvan

Hi ,

I had not given any deduction declaration to company for F.Y. 21-22. Company issued form 16 with opting new tax regime. But i have a refund with a valid deductions benefits in old tax regime . Now can i file my return with old tax regime.

A public religious trust formed under a Trust Deed duly registered with the local State sub-registrar obtained registration under Sec 12A of the I T Act and subsequently got re-registered under Sec 12AB. The annual income of the Trust does not exceed Rs.50,000/, far below the maximum amount that is liable to tax and it will be so in the future years. The Trust will continue without any change in the objects but wishes to surrender the IT registration so as to avoid the hassles like renewal of registration every five years, filing of tax returns etc. Can the Trust unilaterally surrender its registration with IT Dept? Does it attract exit tax provisions? Early clariafication will be highly appreciated.

Sir
Previously I had asked for filing of ITR of Deceased Assesee wherein I got reply that Income Tax Return of Deceased Person be filed only upto his date of death

In my case the date of death is 17th April 2021

There are Incomes and TDS in the name of Deceased Person`s PAN

what to do

can i file ITR of deceased for whole year under under login of representative to claim refund

please inform

Assessee bought land on 09.05.2019 for 20 lacs. House constructed & completed on 01.06.2020 for 45 lacs

Sold for 72 lacs on 20.07.2021

How should we treat the capital gain. Land as long term gain & construction as short term or both as short term.

One of my relatives have purchased NSC from Post office and as per the understanding from the postal NSC rules, the NSC yearly accrued interest is treated as reinvested along with the principal amount till 4 years, hence, eligible for tax deduction as per 80 C. The last year (5th year) accrued interest will be applicable for tax lability as per the individual slab rates.

Sir, query is that whether the yearly accrued interest of NSC upto 4 years need to show as income under 'income from other sources' when this interest was not claimed as deduction under 80C of that year or show only the 5th year accrued interest(not all the years accrued interest) as income under "income from other sources".

Your valuable advice is sought for clarifying our query on the above matter, Sir.

Please help us.

Thanking you, Sir.


Raman Kumaran