Dear Team,

I enjoyed browsing through the website and reading through the responses to the questions asked. - Thank you for this great initiative for 'amateur' tax payers.

Salaried (Income Under 20lacs)

Question:
1. Previously completed and submitted Income Tax Filings can be subject / liable to an audit by Income Tax Department.? If yes, what is the ageing of the returns that can be selected for audit. (example : IT Filings older than 02 years OR >5years)
2. Please help / guide with an effective way to save taxes. If there is an article please share the URL.

This is a Capital gain Type A only 5 months old account, open in July - 2022 to deposit profit amount from my old flat selling. Now, I want to buy a new flat, property identify and stamp duty registration done. 50% payment paid to builder from my pocket and remaining I want to opt loan from bank.

My query is,
the amount which I kept in capital gain account, shell I self withdraw on my name from bank or it is not permissible?

The reason for above question is, I borrowed the money from my relative to deposit in capital gain account and now I want to return the same..

Filled ITR yesterday. To-day , I tried to submit the ITR. But saved ITR could not be opened. A message appears "You do not have any saved draft" What is the solution ?

Sir,

Why is CPC not allowing TDS credit in case of ITR 5 filed for an AOP for the AY 2021-22?

Is anyone facing same issue?

Am I missing something?

Please help.

Sir, Having net income of 2lakh only why CPC created a demand with surcharge .
(30%+37% surcharge + 4% Edu Cess). MMR amounts to 42.744%

My understanding is surcharge is levied from Income 50lakh and above .
Could there be a glitch in the system? The demand if not paid, interest of 1% is levied per month.

How to reply to CPC in this case.
Pls. give incite on this issue (AY 2021-22)

Can any person withdraw part of his total provident fund before 8 months of his retirement?

What is the percentage of total provident fund that he can withdraw?

He would like to withdraw part of his Provident Fund for purchase of house.

Is it taxable (withdrawal of PF before retirement) ?

Please guide.

Please guide

I and my brother have sold land the sale deed of which is executed in our names, the land has been given to my in the family settlement earlier, the buyers in paying us both in equal share, how can I take the money from my brother and what are the tax implications for both of us. Please advise

Sir,
Sec 44ada it assessess cash loans from creditor and cash loan to debtors ledger balance amount show in books as on dt: 31-03-22.
Cash loan from creditor (son) balance amount rs:10 lacs
Cash loan to debtors (daughter) balance amount rs:15 lacs.
Question:
Assessess cash loans from creditor rs:10 lacs amount transferred to cash loan to debtor account adjustment entry passed in books accepted in it act f.y.22-23.

I have filed TDS return through RPU Software. When I click validate a file created as fvu.uenc. To complete the return filing what is the further step I need to do. Please help.

Hi,
While filling Form 26QB I'm seeing 3 different kinds of dates -
(1) Date of Agreement/Booking
(2) Date of Payment/Credit
(3) Date of Tax Deduction

As per my understanding,

(1) should be the date on which original seller/purchaser agreement was made. This is 23rd Sept 2022.
(2)
7th Sept 2022 Paid first booking amount
7th Sept 2022 Paid rest 20 percent down payment to seller
28th Sept 2022 Rest of payment has been disbursed from BANK to Seller Account

(3) Today 20th OCT 2022 I am trying to file TDS
So, in my case, what should be the dates for (2) and (3) points?