Mr A and Mrs A are husband and wife.
Mr A invested shares of Rs 5,00,000 in FY 2016-17 in the name of Mrs. A.
Mrs A sold the shares in June2022 for Rs 50 Lakhs which is also the long-term capital gain for her.
Mr A purchased a house property for Rs 50 Lakhs in March 2022.
Query 1 - Mr A wants to claim 100 percent exemption under section 54 F. Can Mr A claim section 54 F for the purchase of house property after application of clubbing provisions of section 64 in his ITR.

Query 2 – Is Mrs A required to show sale of shares in her ITR or will it be shown in the ITR of MR A only.

Query 3 – If Mrs A shows sale of shares in her ITR, there will be tax payable in her return as the investment for 54 F is done by Mr A.
In case Mrs A is also required to show sale in ITR, how to reflect it without any tax liability?

Is Gate entry Fee contract for Collection Liable for GST ( APMC AND LOCAL BODIES)
if Yes
RAte and HSN

HELLO SIR/MADAM

MY FIRM IS PARTNERSHIP FIRM AND FOUR PARTNER IN THE FIRM ENCLUDING ME. SIR/MADAM FEW DAYS BACK I BOUGHT A NEW CAR AND FOR THIS SOME PAYMENT I PAID FROM FIRM ACCOUNT THROUGH CHEQUE AND SOME PAYMENT I PAID THROUGH CASH AND BALANCE PAYMENT I PAID THROUGH FINANCE WHICH I BORROWED FROM BANK WITH MY PERSONAL NAME BUT THE LOAN EMI IS DEDUCTING FROM MY FIRM ACCOUNT. PLEASE TELL ME HOW WE DO MAKE ENTERY IN OUR FIRM ACCOUNTS BOOK ?

Recently (from 20-03-2023) E-Filing site showing Restricted Refund for some people and for some Bank accounts.I observed that for 1 person Union Bank account shows as Eligible For refund and for some it is showing as Restricted Refund.I checked with bank and it is not Inoperative account.Regular credits & debits are there.No KYC problem and account is also validated & EVC enabled.Can anybody guide me regarding this issue.

Hi,

I purchased a property in year 2015 worth ~1Cr, with my wife being first owner and I being second owner of the property. We took a home loan from HDFC bank and they disbursed loan installments to the builder. Since my wife was first owner, TDS was deducted by her at 1%.

However, since my wife was not earning, she did not file income ta return for AY 2016-17. For this assessment year, there were total payments of approx 65 lakh to builder, on which TDS was deducted and deposited.

My wife has now received a notice under section 148 for reassessment of income. In this respect, I have following questions in consideration that we need to file for AY 2016-17:

1. There is no option to show property purchased in any ITR form, and she had no other income. Should we chose ITR1 or ITR2? Is there a place to indicate anywhere that she deducted TDS for property purchase?

2. We actually tried and prepared return XML using section 148 of income tax return preparation utlity. However when we try to upload it online, it shows only option to chose from u/s 92 CD and 119(2)(b). Section 148 is not an option.

3. We tried to choose section 139 in our ITR and it failed to upload again as now it asks for filing ITR after condonation of delay. However, online portal does not let us file condonation request as well, telling there was no return that was received after due date.

Please help how to approach this. We have never concealed any income and this return was not filed as there was no income.

Also, since TDS was deposited by my wife, is it recommand that my wife shows this amount as gift money received from me? I paid all EMI to bank.

Thank You in advance!

SIR
CAN ANYBODY PROVIDE ME REPLY LETTER OF ASMT-11 WHO HAVE SUBMITTED TO GST AUTHORITY.

TREAT IT AS MOST URGENT

KAPIL BHATIA

Hi
I want to personally consult a professional who has accounting work experience in manufacturing companies. Use of standard costing , adjustment of variance in wip and closing stock,calculation of stock value,
, monthly accrued expenses entry ,etc.
Any experience person may contact me at rphouse17@gmail.com
Thanks

DEAR SIR,

CAN WE FILE INCOME TAX RETURN SHOWING BELOW TAXABLE LIMIT MEANS 499500/- IN THE UPDATED RETURN U/S 139(8A) FOR THE ASS.YEAR 2022-23. IS POSSIBLE .

THANK YOU
REGARDS

We have been trying to do aadhar authentication for 10 days at GST portal, but couldn't succeed, for that we met to the local jurisdictional officer in this regard, and he asked this error is related to the Aadhar site, not the GST site, so I replied him as PAN and Aadhar already linked at Income Tax portal, so how can it possible to issue on aadhar side?, as got generally default reply from the officer as this is the system based, so we can not do anything from the local level. Therefore, we compliant filed a grievance on the portal with the necessary error screenshot, and copy of PAN & Aadhar, but still waiting for the response. On the other hand, we also contacted the toll-free number of GST, and they have replied to us to contact the local department for the solution, but the local officials denied as mentioned above.

Due to this situation, the GST refund is stuck and 2 years of the period will be lapsed by 31.03.2023 (Refund period FY 2021-22).

Error : The name provided by you in the application for registration under GST could not be validated with UIDAI, Approval of your registration application may include Site verification of the business premises by the Tax office and/or a request to submit additional documents. You will receive further communication from the Tax Office.

Kindly guide for the above problems.

Dear experts
This is a case of company.
I forgot to claim TDS of Rs. 2600000 in ITR of assessment year 2022-23.
Can i file rectification under tds credit mismatch or what are the other actions under income tax Act which i can take?
Please guide?