Last date for completion of scrutiny assessment of the assesse by the commission of income tax apples

When an amount is being reported on 26AS on account of 194R, whether it is compulsory to offer it for tax.

"The Central Government has recently issued a notification announcing the Cost Inflation Index (CII) for the financial year 2025-26. In the notification dated July 1, 2025, the government announced that the CII for the financial year 2025-26 is 376. The new CII of 376 will be applicable from April 1, 2026, and it will be applicable for Assessment Year 2026-27."
Can I apply this CII 376 for calculating indexation for FY25-26 for property sold in April 25 (bought in 2002) when I file my returns on 31st July'26 ?

If Mr. X sold his plots of Rs. 8lakhs in A.Y. 2025-26 and he purchase house of Rs. 10lakhs out of the net sale proceedings of this plots for claiming 54F exemption. Mr. X claim exemption under section 54F of remaining purchase amount of Rs. 2lakhs in next A.Y. 2026-27. So, what amount should be shown in the A.Y. 2025-26 under amount investment in new asset out of sale proceeds (i.e. 10lakhs or 8 lakhs) for claiming 54F exemption?

Hi,
i have deposited partial tax of a company...now i need to deposit the balance...the amount of interest on late payment will be for entire amount or for balance amoount?

One of our clients is a security services and house keeping service provider, security services come under RCM and house keeping service comes under normal service, so can we issue Reverse Charge Machanism bill for security services and Normal tax invoice for house keeping to the client.

I am having a House property with a rental income of Rs 1.20 lacs per annum. I availed a loan from a bank and paid interest on the home loan. I am filing IT return under the new regime.
I understand that the net loss after adjustment of rental income (Net Annual Value) to interest paid to adjusted against Gross income from salaries is not permissible. However, section 24 permits interest on a home loan can be allowed where the house property is let out without any maximum.

I shall thank you if you could clarify with relevant sections of IT Act whether interest paid on a home loan is permitted as an allowable deduction for FY 2024-25

Hello!... Experts,

Came across a below mentioned article.
Will it be also applicable to Senior Citizens.
Filing ITR-2 as short & long term capital gains are there. Usually paying the exact tax computed by their system on return filing to avoid delay in processing due to refund.

ITR Filing Deadline Extended
The Government of India has extended the deadline for filing ITRs for the assessment year 2025-26. Usually, the deadline for filing income tax returns is July 31, 2025; however, the deadline has now been extended to September 15, 2025. This deadline is only applicable to non-audit taxpayers (most salaried individuals and small business owners).

But any taxes that are due, such as final tax or self-assessment tax, must still be paid before July 31, 2025. Taxpayers making payments of these taxes after the due date may suffer consequences such as interest and penalty, even if the return is filed by September 15, 2025.

Read more at: https://studycafe.in/itr-filing-major-income-tax-changes-to-take-effect-from-july-1-384006.html


Thanks in advance.

Sir,

After the inorporation of new section 194T of income tax act 1961, I want to clarify TDS applicability in respect of the following transactions.

1. Interest on Capital Rs. 1,50,000 paid to Mr. A (Resident partner)
2. Interest on Capital of Rs. 2,25,000 paid to Mr. B (Non Resident Partner)
3. Interest on Loan of Rs. 3,05,000 paid to Mr. C (Resident Partner)
Here, which TDS sections was applicable. Need clarification whether 194T, 195 or 194A?

Our client is engaged services in exhibition stall fabrication. can we file ITR-4 return under SECTION 44AD. Client's turnover is 80 lakh.