Dear Sir,

I have received a notice U/s. 143(1)(a) disallowing Section 10(13)A allowance received in Form 16.

On going through the return filed I found that I included the HRA amount in the Basic salary and then showed deduction of HRA.

How do I rectify this error. Do I need to submit Rectification Jason file against the notice received.

Please help me to resolve this issue.

Regards,
Divyesh Jain

Purchase from 01/04/2021 to 30/06/2021 4720000.00 (including GST)
Purchase from 01/07/2021 to 31/08/2021 1180000.00 (including GST)

My Question is
(i) TDS to be deduct on what amount?

(ii) TDS while be charge on GST amount also?

(iii) If I have deduct the TDS on amount including GST what should I do?

Please reply us on urgent

The assessee had long term capital gain on sale of House property in March 2019 and invested the gain in CGAS account before due date of filing return. He purchased new property in January 2021 and reinvested from CGAS Account. The cost of the new property is much higher than the long term Capital Gain reinvested. For the shortfall in amount he invested from his savings and investments. He sold certain long term debt funds and entire proceeds is reinvested in buying the house property. He does not own any other property except the one purchased in January 2021. He has earned long term capital gain on debt funds redeemed during the FY.
As he has invested entire sale proceeds of debt funds redeemed in house property he is eligible for exemption u/s. 54F. Is my view correct?
As he has used CGAS account balance also u/s. 54, can both deductions be claimed in the same assessment year? All the conditions laid down u/s 54 and 54 F are complied with.
Kindly advise.

Sir,
It assess purchase of site value rs:45 lacs.
Assess own funds rs:15 lacs
Funds from husband rs:10 lacs
Funds from son rs:10 lacs
Funds from daughter rs:10 lacs
Question:
Assess purchase of site value amounts payment through on it assess bank account or through on lenders Bank account amounts transferred.

Whether tds u/s 194q and tcs u/s 206c(1h) to be made by consignor or consignee in consignment sakes

Dear Sir,

One of my client has taken loan from a UK based institute for higher education and paying interest on this loan through NEFT from an Indian bank account.

Is the interest component of this loan eligible for claiming deduction U/s. 80E even if the loan is taken from abroad. Do he has to obtain any documentary proof.

Please help me in this matter.

Regards,
Divyesh Jain

If only business of shares trading (full Time) in all segment (FNO+Intraday+Delivery base trading i.e. Short term) taken as business income, but and if some sell of shares after one year as a different portfolio only that can I take as long term capital gain or loss ?

Second Question is If Turnover in Stock trading business only is 99,50,000/- and profit is less than 6% i.e. 3,95,000/- greater than basic exemption limit which is not chargeable tax and total transaction is digitally electronic mode (100 % ) but in past years never opted section 44AD as presumptive income ,so please know will need tax audit by CA ?

I have received the below message from CPC. Not able to understand where the error is because I filled in short term capital gain in similar way last year. Experts please help.

In Schedule part B TI, Sl. No. 11 ' Income chargeable to tax at special rate under section 111A, 112, 112A etc. included in 10' is not equal to sum of the incomes taxed at special rates in Schedule SI.Hence amount at Sl. No. 11 of PartB-TI is recomputed by adopting the amount mentioned in schedule SI.

Tax Payable at normal rates Rs.16,47,360/-
Tax Payable at special rates Rs. 5,962/-
Surcharge Rs. 1,65,332/-
Education Cess payable Rs. 72,746/-
Total Tax Payable Rs.18,91,400/-
Interest u/s 234C Rs. 5,686/-
Tax & Interest Payable Rs.18,97,086/-
Prepaid Taxes
TDS Rs.17,82,346/-
S A Tax paid on 27.08.21 Rs. 1,14,740/-
Total Prepaid Taxes Rs.18,97,086/-

Now as per income tax portal Interest u/s 234A Rs.2,180/- and u/s 234B Rs.5,515/- is calculated and asking to pay Rs.7,695/-
Prepaid Taxes in this case are more than 90% of assessed tax and still interest u/s 234B is determined

My question is is the above calculation of interest correct and if wrong how to file return of income ?

Sir,
A person sales and purchase transactions 6 times one financial year for sale and purchase agricultural land rural area .
Question:
Assess source of income treatment above transactions business income or capital gains tax income in it act.