Respected Expert

Kindly suggest which ITR I have to file income tax return as I have salary plus Business income. My business income is less than 15 lakhs

Also suggest for My wife having salary + short term gain in share.

Please suggest

Your early response shall be highly appreciated.

Hi Respected Friends,

Could you guide if clubbing of allowances for reimbursement to employees is allowed ? We are capping allowances for Fuel and Internet together to maximum Rs. 2000 per month but want to give option to employees that they decide which allowance to opt for. One of the issue is payroll system does not have feature to cap overall allowances to above limit and hence one of the suggestion was to create "General Allowance" and define it as combination of fuel and internet allowance with capping of 2k per month.
Is this allowed ?

my doubt here is Discount ledger Under Indirect expenses when discount is received while purchase

Hello Sir/ Madam,

Shall we show gift received from close relative (son given gift to parents) in to ITR2 (of parents) against exempt income (against other options) or not ?

There are different opinions from different CA. Some CA saying no need to show it .
Some CA saying income tax department may ask source of income to receiver person if amount is more than 10 L and donnes investment it in either FD or Captain gains.
Is there any guidline from incometax department for same ? Please help.

Agar mere account me achanak se 1 lakh diposit karunga to kya bank wale mera account freez kar sakte hai ya fir wo mere se kon kon se question puch sakte hai

Hello sir ,

My wife is salaried and having income of 7 L . She have purchase Mutual fund (SIP ) of Rs 3 L and sale Mutual fund of 5000
She have also income of 2 L from intrest on saving and FD .
Which from should we choose ITR1 or ITR2 as Mutual fund sales

Hi,

We are purchasing a flat in Mumbai for which we have entered into an "Agreement for Sale" with the seller. We have paid stamp duty on the "agreement for sale" as per market value and registered the agreement after paying registration fees of Rs. 30,000/-.
Now we have paid the entire consideration to the seller and taken possesion of the flat and now we are making the "Sale Deed" for this property.
What is the amount of stamp duty now payable of this "Sale deed" since we have already paid SD as per MV on agreement ?
Also what is amount of registration fees now payable for registrering this sale deed as we have already Rs. 30k on the agreement.

Thanks
Niki

Dear Sir,
I had applied for the SME IPO of Parameshwar Metals in the HNI category, my application amount was 19,52,0000 as I applied for 16 lots (1 lot=2000 shares, price 61/share) but was not allocated any shares. Still it is being displayed in my Annual Information Statement and it is adding up to the buy column in the TIS (Tax Information Summary). If this thing goes on like this for other IPOs as well,then buy column total would become in several crores.

My question is, that even though I was not allocated any shares(had applied via ASBA), why is this being reported to the AIS and increasing compliance for us?
Is this legitimate or should we mark any feedback for this in AIS ? Gross amount received and Gross amount paid cancels out each other anyway. It was not the case in previous financial years.

Rectification got rejected with reason Rectification cannot be taken and hence rejected Rectification is taken as suo moto if no data correction is required Taxpayer is requested to file rectification under return data correction if data needs to be changed there is no apparent mistake in order which is sought to be rectified AY 2023-24
1.Does original order on which rectification is filed stands valid or not

Dear Sir, Madam,
I have 1 received bill taxable amount to 20000/- on date 05.05.25, and second bill received same amount on 05.06.25, for repair & maintenance for machine, now we will not receive any bill from this supplier. Should TDS be deducted for this supplier or not? if yes what rate of TDS i have to deduct.

Thank in advance.