Hello All,

Recently we had deducted 10% on the professional charges of an Interior Designer.

What if the person is taking the contract work, will the TDS be 94C

My brother is working at SBI and his gross salary is ₹34.8 lakhs, which includes perquisites of ₹6.09 lakhs and Leave Travel Allowance (LTA) of ₹6.52 lakhs. His consultant advised him to file his return using ITR-2, as he has a short-term capital loss of around ₹3,000. He filed the return under the new tax regime. However, he claimed the entire LTA amount of ₹6.52 lakhs as exempt under Section 10(5). Is this claim acceptable, and will he need to provide any evidence if he receives a notice

Dear Sir/Madam,

I have query regarding where to show F & O gain/loss in ITR?
I know it is showing under business and profession. But question is department has not provided such column to mentioned the turnover then how we will mentioned the turnover. As per my knowledge we have to mentioned under sale and purchase head according to gain/loss. if we do like this then how loss will be carried out over next 8 years?

Please guide me on this. Also, let me know if client has gain/loss from commodity then same method can do as F&O method.

Thanks and regards,

Pratik N Patel

T_FV_6381 At least one deductee/collectee record is required in TDS/TCS statement as per Income Tax Department guidelines. Please add deductee/collectee details before validating the statement.

Dear All

I have received 50 lakhs against sale of shop in AY 2011-2012 and i had invested full amount in Capital Gain but failed to file ITR for the same after 14 years can i withdraw from Capital gain ITR and what is tax impact on it??

Please suggest

Mr.X receiving professional fees from Company, on achieving sales target has received a gifts/perquisites. Company has deducted TDS via Section 194R and is reflecting in 26AS of Mr.X.

Is Mr. X is liable to Pay GST on the amount which is showing in 26AS u/s 194R.

Would like to know how to redcue TDS if India passport holders are workin in Sadui ARabia (NRI).
Saudi government issues ZATCA certificate only to provide proof of tax residency here in KSA.
Want to know aboutn Form 10F? Can I fill form 10F after filling retunr for A.Y 205-26?
If suppose I filel form 10F after filing ITR-2 for F.Y. 2024-25, what is the repecusions? and I can file revised ITR-2?

Respected Colleagues,
One of my client wants to withdraw the left amount unused in CGAS, So wanted to know the procedure and how to file Form G and "Is Form G addressed to Income tax dept or to Bank''
Please guide and provide suitable attachments or format.....

Regards

Hi My intraday trading details for FY 2024-25 are as follows-----
Total Sale value RS1445377
Buy Value Rs1434415
Turn Over( Absolute sum of Profit& Loss) is Rs. 32629
Net Profit Rs 10962,
I do not maintain accounts.
Am I exempted from Audit and can file ITR 3

Assessee is the owner of commercial property in a commercial building. The said commercial property of the assessee is entirely given on leave and licensee basis for commercial use only. The said commercial property is given on rent in between April 2024 to March 2025. This if the first year of assessment after the assessee has given the said commercial property on leave and license basis as the building in which the said commercial property is located received the occupation certificate from Municipal corporation only in May 2024. Further the assessee is due to file his return or or before 15.9.25 had not filed the said return of income

Query : 1) Under the new amendment will section 28 be applicable.

2) Should the assessee present the income generated under the head business income or income from house property