Respected Sir/Madam

Bankers asked for updated details after demise of Karta for periodic kyc
they sent a message that you have to update the same on income tax portal and apply for new pan card after update and submit the new document with fresh kyc of new karta

What are the compliances being required to be updated on Income Tax Portal.
Please reply

Regards

Tribhuvan

Dear Sir / Madam,

I seek your expert guidance on a specific income-tax issue relating to a proposed Demat and Trading Account for my son, who is a Person with Disability (PwD) suffering from Autism Spectrum Disorder (ASD).

Background:
My son Shounak Ghosh is an adult (major) and is on the autism spectrum. Owing to his condition, he is considered of unsound mind and cannot independently operate a trading account. I am his legal guardian and intend to open a Demat and Trading Account in his name, to be operated by me as guardian, in accordance with SEBI guidelines.

I have referred to SEBI’s “FAQ on Account Opening by Persons with Disabilities”, which permits account opening in the name of a PwD with operation by a guardian, subject to KYC and guardianship requirements.

I have also received the following clarification from Zerodha, the broker with whom I am exploring account opening:

“The child is considered an individual taxpayer, and the income from the account will be assessed in his name, subject to standard income tax slabs.”

My specific queries are:

1. In such a case, who will be legally liable for income-tax obligations arising from trading activities:

> the PwD account holder, or

> the legal guardian who operates the account on his behalf?

2. Will the income (capital gains, dividend, interest, etc.) be:

> assessed entirely in the name of the PwD, or

> clubbed with the guardian’s income under any provision of the Income-tax Act?

3. Are there any special provisions, exemptions, or reporting requirements applicable when:

> the account holder is a PwD (autism), and

> the account is operated by a guardian under SEBI-compliant arrangements?

4. From a compliance and future-dispute perspective, is it advisable to:

> file a separate ITR in the PwD’s name, or

> adopt any additional safeguards or declarations?

Your guidance will help me proceed correctly and compliantly before opening the account.

Thank you for your time and expert advice.


Warm regards,
Bikash Ghosh
(Legal Guardian)

My income tax returns are already processed for FY 24-25 and I have got TCS credit in form 26 AS after processing returns. Can I claim FY 24-25 TCs refund in FY 25-26

Dear Sir
Is the gratuity and leave encashment received on death of employee in private sector is 100% exempt or upto the specified limits. For leave encashment, is still the letter no. 573 of 1965 still applicable.

Few months back I book profit in international equity mutual fund. As it was invested around 14 months so it is STCG. Apart from this I sell some indian equity mutual fund with loss within one year which cause loss in short term.
As per my research gain on international fund redemption is going to be added in taxable income same as debt funds and this gain is not under capital gain consideration (correct me if wrong).
My query is can I balance my indian equity MF loss against international MF gain?
Or as this international MF gain is going to be part of my income and above indian short term loss need to get balance with my other equity LTCG and equity STCG?
Share your insight please.

Immovable property gift deed done by daughter to mother. circle rate value of plot 8.4 lakh. Non of them currently files ITR. Can there be any problem if itr is not filled for this deed kindly tell

Whether ITAT can allow exemption to an educational institution u/s 10(23C)(iiiad), if AO and CIT(A) had disallowed exemption u/s 11 and also did not allowed exemption u/s 10(23C)(iiiad), being not claimed in ITR ?

Also share the relevant case laws to be cited while appealing to ITAT.

TIA

One of client enterd in the purchase of a residential unit, say in January 2026 for under construction. And in February 2026, he sold commercial property.

My query is whether under construction property FIRST and then sell the commercial property. Ccan he get deduction u/s 54 F in Income Tax?

Whether share trading profits of INR 1 LAC in STT paid and STT not paid all in listed stocks can be shown as business income in ITR. I m trading since 5 year's I m a trader.

Madam / Sir,

I have received inherited shares after my mother's death to my account. Say company 'A' which was purchased by my mother for Rs 160 per shares in 2019 and the same is at present trading around Rs 620. The same share is transferred to my demat account after the inheritance process. On the day it was transferred this share was trading at Rs 595. Now in my capital gain report generated by my broker platform it shows that Rs 620 - Rs 595 = Rs 25 per share capital gain whereas actual is Rs 620 - Rs 160 = Rs 460 per share. Thus, while filling ITR for FY 25-26 (AY 26-27) which figure is to be taken for calculating capital gain tax for myself.

Now in new scenario the shares of company ‘B’ purchased by my mother in 2020 @ 146 and the same was inherited and credited in my demat account. I have sold some of these shares in Dec 2025 @ 308. How much would be the capital gain for me for these shares of company ‘B’.

In another scenario shares purchased by my mother in 2021 @ 48 and now it is trading @ 22. If I sell it then what would be the tac scenario.

I request to explain me in detail all these scenarios tax implications for me for filling ITR of FY 26-26 (AY 26-27)

Thank you very much in advance.

Paresh Jani