Dear Experts,

The assessee has sold certain shares under compulsory delivery mechanism as the call sold by him closed out of the money. The price that he sold and closing price of the same on the last day of settlement is different. The AIS shows closing price of the share which is almost 5% higher than the strike price at which it was settled on the last day of settlement.
There is no option to flag it in the AIS for this mismatch. It does not have the option to mention that the price captured by system is wrong. Should I go for information partly incorrect and submit the response and file the return with the real settlement value?
Please suggest.

"Exploitation of business assets by giving on rent a residential property is still considered income from business and profession? In the Supreme Court decision in the case of CIT v. Universal Plast Ltd. [1999 (5) SCC 189], it was held that... In our case, the ACIT has passed an order that the income from rent is business income."
So now what is the effect Proposed Section 28 Amendment?

Hello Sir/Madam
In Jan 2025, my client had returned some goods to his creditor, he raised a sale bill and sent goods to his creditor, eway bill and E invoice was duly made, but his creditor issued a Credit Note Against the same and filled it in his return. and i have to have take its effect in my return otherwise my ITC will become overclaim by the GST of that Credit Note.
So technically it became a Double Effect on a single bill.
now how can i issue a credit note for my bill , because there is no actually movement of the goods
i have to make a e invoice and e way bill.
kindly help

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.