Dear Sir/Madam,

If client has earned income form SLBM - Securities Lending and Borrowing then under which income head it is taxable ? and at what rate of tax?

Thanks and Regards,

Pratik N Patel

FLAT VALUE = 65L

POSSESSION CHARGES IS SEPARATE (CLUB CHARGES , PARKING & POWER BACK UP CHARGES) 5L

1)TDS DEDUCT @1% ON 65L = 65K OR
2) TDS DEDUCT ON 70L = 70k

Please suggest.

For Payment of Advance Amount to Professionals. Invoice not Received.
TDS PAYABLE ON ADVANCE PAYMENT TO PROFESSIONAL?

we are willing to use a trade name (separate from our legal name) in GST registration(via amendment) what kind of supporting document can we produce for the same??

Respected Colleagues,
My First Ques:
If HUF opens a demat account and starts trading or investment in Shares & MF, then can we reflect the gains or Losses under Business Head of ITR instead of Capital Gains ?

My Second Ques is:
If a house wife having no income except interest income from banks but trading and investmnent in Shares & MF
then also in this case can we reflect gains or losses under business head of ITR or under Capital Gains?

I originally filed form 27Q without filling NRI deductee's contact number since it was not mandatory in the present case(rates mentioned in IT Act will be applicable for TDS). There was no problem with validation then and I filed the return successfully. Now I need to revise the return due to inadvertent mistake in choosing date of deduction.

When I corrected the date in utility and tried to validate it, it is showing error 'T-FV-4336-provide valid value under Contact No. of deductee'. Since deductee's number is US mobile number, I tried all possible combinations- with and without the country code. But none of it helps. Error still persists.

Is it necessary that only NRI deductee's phone number has to be mentioned in that column? Can an Indian number be provided instead? Can someone please guide.

A Commission Agent has earned 30 L Financial year 2024-25 but due to unawareness he has not opted Gst registration, now what is the treatment, now he wants to file an income tax return.

Please suggest what is the treatment.

An educational trust is having 12a registration . For ay 23-24 it is having excess of income over expenditure od Rs 10 laks. The trust filed form 10 with a delay of 260 days. The trust received intimation disallowing the excess and levied tax for not submitting the resolution and bank statement under section 11(5). CIT exemptions rejected delay condonation petition. Can it be contested in an appeal. Is the appeal to be filed before ITAT. I Request the experts to throw some light in this issue

Hi, my father sold his property in Nov'23, this property was located in Meerut, UP. He migrated to Mumbai. He deposited the capital gains in capital gains account with PNB at Mumbai in Jul'24 (before filing the income tax). He showed the deposit of CG and exemption from LTCG in ITR-2 under section 54 with filing of AY24-25.

We purchased a new property in Mumbai in Sep'24 (in joint names of me, my father and my wife) and utilized all the deposited capital gains at PNB.

I have following queries if someone can help me with -

1. How do we show this purchase and utilization of capital gains in ITR filing of AY25-26
2. Bank is asking us for FORM -G signed by AO for capital gain account closure. My father's AO is still showing in Meerut as per IT website while his address in PAN, Aadhar has been changed to Mumbai. Do we need to go to Meerut to get the form-g signed or do we need to change the jurisdiction first? I believe changing the jurisdiction is extremely cumbersome process, Is there an alternate way to do this compliance and close the loop?
3. Is there a deadline to close the capital gain account with bank after purchase of property?

I'd be grateful for the answers. Thanks.

i have filed my IT return for financial year 2022-23 in ITR-4 in old regima, next year i.e. 2023-24 in ITR-1 old regima, while filing this year old regima ( 2024-25 ) in ITR-4 it required 10IEA permison. if i obtained 10IEA permsion is it any problem for next financial year i.e. 2025-26 to shift new regima.