If we file the Income Tax Return for Financial Year 24-25 now , so this will be the updated return and refund will not be claimed. Whether we can get the refund in case of claiming the current year (24-25) refund in Next year (25-26) manually?

Dear Sir/Madam,

I would like to seek clarification regarding the applicability and rate of TDS under Section 195 of the Income-tax Act, 1961 in the following case:

A property is proposed to be sold for a total consideration of ₹1,000,000 jointly held by 5 co-owners. One of the co-owners is a Non-Resident Indian (NRI), holding an 20% share in the property, with corresponding sale consideration of Rs 20,00,000. Whether TDS under Section 195 is applicable on the NRI co-owner’s share of ₹2000000, even though the amount is below ₹50,00,000. need to now LTCG % + surcharge %+Cess = ?

IN PAGHDI SYSTEM IN+B4:M30 MUMBAI

IN FAMILY
PARTENTS EXPIRED
RENT RECPT….IN NAME OF MOTHER

3 CHILD
OUT OF….ELDER--YOUNGER SISTER MARRIED
SON UNMARRIED…..STAYING LAST 30 YRS


BLDG GOES IN C1 CATERGORY

MAY BE DEVELOPED….AFTER SO MANY YEARS…..ANY RESCENT LAWS ????

QUESTION
TRUST OWN BLDG……..

NOT TAKES RENT FROM LAST 3 YEARS…..ON GROUND TRF NAME & GIVE 5 LAC IN CASH
SOME ROOM SOLD ON 40-45 LAC….LESS 33% PAID IN CASH

IN PAGHDI SOME 10-11 ROOMS SOLD AROUND 40 TO 45 LAC
ALL PAYMENT IN CASH ???????????

IS IT CASH ALLOWED…AS LAWS RESTRICT CASH TO 20,000

NOT TAKES RENT FROM LAST 3 YEARS…..ON GROUND TRF NAME & GIVE 5 LAC IN CASH

WHAT TO DO….WHOM TO CONTACT

I HAVE
1 MOTHER….WILL …TRF ALL PROPERTY IN…SON NAME…WITH NOC FROM DAUGETER ON RS-100 STAMP-PAPER

2 RS-500 LEGAL STAMPER …SEPRATE NOC TAKEN FROM SISTER

ATUL 90829 21706
LOOK4U@REDIFFMAIL.COM

Writing

Subject: Applicability of Maximum Surcharge @25% under Section 115BAC for Discretionary Trust (AOP)

I have a discretionary trust assessed in the status of an AOP. For FY 2024–25 (AY 2025–26), the return of income was filed opting for the new tax regime under Section 115BAC.

While computing tax liability, surcharge was restricted to 25% in accordance with the provisions of Section 115BAC, which provides for a maximum surcharge of 25%.

However, in the intimation received under Section 143(1), the Income Tax Department has recomputed the tax liability by applying surcharge at 37%.

In this regard, clarification is sought on the following:

Whether a discretionary trust (taxed as AOP) opting for Section 115BAC is eligible for the capped surcharge rate of 25%.
Whether the CPC is justified in applying surcharge at 37% despite the assessee opting for Section 115BAC.
Whether rectification under Section 154 would be the appropriate remedy in this case.

It is my understanding that under the amended provisions applicable for AY 2025–26, the maximum surcharge under Section 115BAC is restricted to 25% for all eligible assessees, including AOPS- Private discretionary trust.

Kindly provide your expert opinion on the correctness of the department’s adjustment.

Thanking you.

Insurance Make For any items and later on received compensation against insurance made, How to calculate GST Input claimed against Insurance made because of Compensation Received. suppose
Insurance Made of Rs. 1,00,000 and GST on Insurance Rs. 18,000 Now total amount Rs. 1,18,000 Later on Received Rs. 70,000 Received from Insurance company My question is that what is income and How much GST Input to be reversed. Please reply.

Promotion of hindu deity by an NRI. He got income and credited to NRO a/c in india. Tax deducted in united kingdom for that income. Also he collects donations from various persons through his NRO account and utilise the amount for the promotion of hindu temples and donate such amount in his name. He wanted to offer income u/s 44AD or 44ADA. Youtube colletion received in sizeable amount. I want to know whether donations taxable under which head ? Also the you tube taxability and tax collected at uk is eligible any credit in tax liability?

Sir,
Please see the below case .if a person salary is as below.

Basic 25000 PF 3000
Other Allowance 50000 PT 200
Gross Salary 75000 Net Pay 71800

If a person is absent for 15 days no leave on account in that case he will get salary as under

Basic 12500 PF 1500 or PF 1800
Other Allowance 25000 PT 200
Gross Salary 75000 Net Pay 35800

in this case PF Should be 1500 or 1800 because his master rate of Basic is more than 15000/-pm

Please confirm.

Need a credit rating model in excel to obtain shadow rating before rating from an agency like ICRA or CRISIL.
Can anybody provide please?

Dear Experts,

The assessee has taxable income from salary and other sources of 52 lacs after claiming standard deduction and NPS Benefit under new regime. He has long tram capital loss of Rs. 300000/-. Is he suppose to pay surcharge @ 10% on tax on 52 lacs income or his income would be considered below 52 lacs after deducting capital gain loss of 3 lac?

Please guide.

Dear Sir,
I want to file updated ITR-3 Sfor AY 21-22 but my total income well below 250000. I think I can still file with 1000 penalty by showing increased income of more than 250000 but less than 500000 by 31st March,2026. My meagre income was as follows:

Savings bank interest: 2700
Equity STCG: 3000
Speculative income: 70


Can some esteemed CA or learned person from this forum help me to advice which type of income can I show in ITR in IFOS schedule which isn't getting reflected in AIS but to file to keep clean track records of ITR filing in the eyes of ITD?
Thanks a lot