An interest-free loan worth Rs. 150000 had taken on 01.05.2022 for payment of the PPF account but the same was repaid in full on 28.03.2023. How to show the same in the balance sheet in ITR-3? Kindly help by way of sending your valuable opinion. Regards, T.K.ROY, West-Bengal

Dear Experts, MY 26 AS A.Y 2023-24 Showing wrong Data, Part -1 TDS showing Sec 194C Amount Paid 73128/- TDS Rs 731/- & another Amount Paid 72980/- Sec 194C But These entry not related to me. Please suggest .

Hi. I have sold multiple capital assets on different dates in FY 2023 and purchased another capital asset in the same FY. How do I show this in Schedule CG of ITR 2. In Part D of Schedule CG, it is allowing to enter only one item so how do I show multiple sale dates in Table D on 'Deduction claimed against CG' ?

Return for the A.Y 2022 23 file before due date and process under 143(1) and after that notice under section 143(2) issue. Now we have realised that some mistake have been made in return. Now can I file the revise return and what is the time limit for that.
Can we file the revise return before filing the reply to income tax against notice

Scenario:
1) Father or mother gifts by cash over Rs.50000/- to daughter;
2) Daughter gifts by cash over Rs.50000/- to father or mother.
3) Father gifts by cash (less than Rs.50000/- to daughter and
4) Daughter gifts cash (less than Rs.50000/- to father.
Queries:
a) will the gift be treated as the income of the recipient and taxed or
b) will the donar taxed? or
c) income arising out of the gift will only be taxed in the hands of the donee.
d) Is there a limit to the amount of gift?
e) whether documents (gift deed)to be prepared ?
f) Even if the gifted amount is less thanRs.50000/ should gift deed be prepared?
Please educate with detailed answer for all the queries. I shall thank you in advance.
vsraj

While filing of ITR-U for AY 21-22, I have taken the income as displayed in Form 26AS in my ITR but I dont want to claim the TDS deducted as refunds are not allowed while filing ITR-U. However I have paid the late fee as applicable u/s 234F of Rs. 1000. I have a TDS credit of Rs. 1700 , but i dont want to claim the credit, however I have declared the corresponding income in my ITR. Will it be the correct way to file the ITR or there may be an issue while processing the ITR-U?

CAN A COMPANY DECLARE DIVIDEND FROM THE FREE RESERVES RECEIVED ON PART OF DEMERGER EVENT AND WITHIN 1 MONTH OF BUYBACK OF SHARES IN PRIVATE LIMITED COMPANY.

Can we claim Input tax Credit on Differential Premium AND STANDARD TRANSFER FEES FOR MIDC plot transfers to third party under GST.

Please advise me

Dear Sir,

I have to prepare Export Invoice regarding Commission service. I have doubts as per below.

1. GST applicable or not in case of Service invoice ?
2. Do we have to proceed Invoice with CHA, like Shipping Bill, Bl & etc. documents also need to proceed for Service invoice same as Goods Exporting ?

Please guide what is the correct way to prepare.

Hi ,

I checked my AIS report for FY 2023-24 & found that :-

1- There are some transactions related to purchase & sale from share market
which are still not reflecting in them

2-There are some transactions with incorrect amount. Sale & purchase amounts do not match with Contract notes which i have for these transactions.

Can i file Income Tax Return as per contract notes data available with me.

Is it mandatory to provide feedback to AIS data?