What is the basic exemption limit below which there is no need to file an ITR?
A. 2.5L
B. 3L
C. 4L

Dear Sirs : Valuable guidance is requires in following matter : Kapil and company in Delhi has supplied goods to ABC company in Uttrakhand, Tax invoices, E way bill, transporter GR are all in order. Kapil and Company is called by Assessing Officer of GST Intelligence Department. He is claiming that goods have net been supplied and has rejected all above documents. He claimed that your vehicle has not crossed TOLL nakas to reach destination. In support of his arguments he showed us NHAI - Google map by putting date and vehicle number as mentioned in our Eway bill. He is rejecting all claims of both parties.. Kindly advise. Regards

Hello, In R 1 of december B2C sale (POS) was Haryana, but actual (POS) is Delhi. And also amount is different. Now Amendment to be done in January 2025 R1. Kindly suggest the solution. Thanks

Kindly advise is demat of shares compulsory to small companies as well?

Hi,

I am planning to sell my apartment in April'25. If sale deed execution and registration is done by 10th April 2025, for example, should I declare it in ITR for FY 2025-2026? or will it be in FY 2024-2025?

Dear Experts,

Property purchased in 2006 by assessee is now trfd as gift to his 2 sons. Will this gift result in capital gains if trfd to 2 sons without consideration?

Also when the son sells the property within 1 year , then the same will be treated as short term or long term?

What will be the cost for him for calculating capital gains? zero or cost to previous owner? If cost to previous owner , then cost of improvements done will also be considered?

Dear Sir
Our case is 2 buyers and 2 Sellers (both sides husband and wife with 50:50 share). Property value is 1.85 cr as per agreement.
While filling form 26QB, please confirm:-

1. Each Buyer will fill 2 forms 26QB in name of each seller...is it correct ?

2. If point no. 1 is correct, then while filling 2 forms 26QB by each buyer - what value should be mentioned in Total Sale Consideration column...is it 46.25 lac in each form considering total 4 forms to be filled (each buyer filling 2 forms in name of each seller) ? Or in all 4 forms, the Total Sale Consideration value needs to be filled as 1.85 cr ?

hiii!!! i earn profit from partnership firm as 20,68,562/- which is exempt in my hands. and my income form other sources is 1,20,500/-. please guide me whether i am liable to file income tax return.

If a parent is the proposer and payer of a single-premium ULIP that insures the life of his adult child, the parent has effectively bought the ULIP on behalf of the child. I have the following queries:
A. Would the ULIP need to be reported on the parent's Schedule AL at the end of the tax year or would it be deemed a gift to the child? If the latter, is a gift deed required?
B. Are insurance companies required to report ULIPs on AIS/AS26? The question arises because ULIP is not a security like shares or mutual funds. If reported, would it be on the AIS of the parent's PAN, the child's PAN, or both?

I am about to buy property from NRI seller and have deducted TDS amount and deposited in advance but while filing form 27Q it was showing that i can file for latest Q3'24 instead of Q4'24 and the date i was filing form was 02 Feb 2025 . Now i have received notice Regular Statement filed is processed with defaults and / or PAN errors u/s 200A. Property registry is about to happen. Any help.