Dear Sir,

I seek your guidance regarding the following matter:

Mr. X, the buyer, purchased a residential unit along with land from four sellers — A, B, C, and D — for ₹1.80 crores on 23/09/2025. However, Mr. X did not deduct and deposit TDS at the time of the agreement.

He was required to deduct equal TDS in the names of all four sellers. Instead, in February 2026, he reported and deducted the entire sale proceeds and corresponding TDS in the name of Seller A only, which is incorrect. At the registrar's office, the property appears in the names of all the sellers. This will create a mismatch if the return is filed in Mr. A's name only.

Despite repeated follow-ups requesting Mr. X to rectify the TDS return and deposit the TDS proportionately in the names of all sellers, he has shown no interest in doing so.

Kindly advise:

What remedies are available to all sellers in this regard?

What steps should be taken if the buyer remains reluctant to rectify the TDS return?

Your guidance will be greatly appreciated.

Regards,
Suraj

I purchased a property in 2001 for 50 Lakshs and sold it in April 2026 for 1.5 cr . Can I calculate the indexation cost for the property for the Assessment Year 2027-28 ? or I have to pay 12.5% for the difference amount ?

An individual was a pertner in an LLP since 2018 with a Capital contribution of Rs 20Lakhs. During August 2025 the subject LLP was converted in to an unlisted Private limited Company and the Individual partner was alloted 29,650 equity shares of Rs 100 each in the newly formed provate limited company against individual's capital in the LLP. During April 2026, the Individual sold 50% of alloted share (14825 equity shares) in the Private limited company to another individual for a total consideration of Rs 40Lakhs. Compute the Tax implications for AY 2026-27 and 2027-28 with respect to conversion and sale of shares.

Sir, prior to F.Y. 2015-2016, there were certain demands on account of the above section, which I would like to challange before the first appellate authority as there was no enabling section in the Act to levy late fee U/s.234E till the F.Y. 2015-2016, ie. enabling provion has come in to force from 01-06-2015, but I do not have the Notice u/s.156 or intimation U/s.200A. So, How do I proceed in the absence of the above intimation or notice, kindly advise.

I have a query regarding LTCG filing under new tax regime for F.Y. 2026-27. I purchased a property in February 2012. I will be selling this property in May 2026. I want to understand that if I file ITR for F.Y. 2026-27 under new regime, will I be able to consider COST of ACQUISATION WITH INDEXTION and pay LTCG under old rule of 20%?

Sir, whether Traces portal is under construction, becuase, nothing is visibal and not working

Two employees (non relative)holding shares in a listed company since last 25 years in physical form recently dematerialised the shares. Now they want to transfer these shares in equal proportion to their respective individual Demat accounts.
What are the implications for such off market transactions? Is it considered gift to each other or transfer from joint account to own account is out of the purview of Gift. It is understood that as and when they sale the shares the same will be taxable if there is a capital gain, if any.
What precautions to be taken and what reason is to be mentioned for transfer in dematerialisation instructions slip?

Please guide.

While filling ONLINE Form No 146 (Old form 15CB) while filling PARTICULARS OF REMITTEE(RECIPIENT) value for state is mandatory. Form does not get saved in case value is not filled. At the same time, we cannot put any value against state field
For above reason Form is not completed and filed for processing
My question is how to solve this ?

Sir,
Any it individual business persons (sec 44ad)and professional tax payers(sec 44ada) itr returns filed persons f.y.25-26 new income tax act 2025 advantages and disadvantages it purpose

1.
Whether a proprietorship concern having turnover in the range of ₹1 crore to ₹2 crore, and subject to tax audit under Section 44AB, would be included within the overall ceiling of 60 tax audit assignments that may be undertaken/signed by a Chartered Accountant, as prescribed by the Institute of Chartered Accountants of India (ICAI).
2.
In the case of a proprietorship concern with turnover of ₹1.5 crore, where the entire receipts are in cash, whether the assessee can opt for presumptive taxation under Section 44AD by declaring income at 8% (i.e., ₹12 lakh), and consequently claim that no tax liability arises on the basis that income up to ₹12 lakh is not taxable for the relevant financial year.
3.
In the case of a proprietorship concern having turnover of ₹1.9 crore, whether it is permissible to declare income at 6% (i.e., ₹11.40 lakh) under Section 44AD, and similarly contend that no tax liability would arise on the assumption that income up to ₹12 lakh is exempt from tax.