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31 August 2026 at 12:37

Buy back of shares u/s69

whether 234A/234B/234C is applicable on additional tax u/s 69(2) in case of buy back of shares. Explain


Mahabir Prasad Agarwal

A partnership firm is having turnover of 50.00 lac during FY 2025-26. If the account is audited by a CA and there is taxable loss after providing remuneration to partners. Is there any problem to carry forward the loss ?


Yogesh Shah
30 August 2026 at 17:07

LIC maturity claim whether taxable

I am having HDFC life insurance endowment plan. The same will be matured in the month of Dec, 2026. Whether it is taxable. Kindly clarify the same.


Archana

If someone has loss in f&o and if professional income is already below the taxable limit and by deducting the f&o loss there is no clear benefit but only the professional income will be shown as reduced as the loss will be automatically set off by the system against the professional income, then is it mandatory to show the f&o loss in the ITR3? Can one choose not to report the loss?


varinder kumar

I seek independent professional opinion on the following matter/case
An alleged outstanding demand pertains to AY 2012-13. The assessee's position is that the demand was not payable, as the relevent taxes had already been paid. The assessee had submitted a response against the demand, duly supported by relevant documents/attachments.
Now, the Income Tax Department has adjusted the refund due for AY 2026-27 against the alleged old demand.
The Income Tax portal presently shows that a response against the outstanding demand was submitted, but the actual response, supporting attachments and AO's consequential order/reasons are not presently available/visible on the portal. The old physical records are also not readily traceable.
Proposed simultaneous action
I am considering taking the following three actions at approximately the same time:

1. RTI Application - seeking certified copiesof the response submitted by the assessee alongwith supporting attachments/documents and the AO's order/communication with reasons/grounds for rejection.
2. Income Tax Grievance - objections to the adjustment of the AY 2026-27 refund against the disputed old demand and requesting release of the refund.
3. Faceless Appeal - filing the appropriate statutory appeal, if mandatory/necessary, without waiting for the RTI outcome, in order to protect the assessee's appellate rights.

Opinion specifically requested

1. Is the above three-pronged approach legally and procedurally appropriate?
2. Should the Faceless Appeal be filed immediately, even though the old response and AO's detailed order/reasons are presently unavailable?
3. What is the correct appellate provision/order against which the appeal should be filed, and what limitation/condonation issues need to be considered?
4. If appeal is mandatory/necessary, please suggest the appropriate Grounds of Appeal, particularly regarding:
disputed/non-payable old demand duly supported with judiciary judgements, if any,
taxes already discharged
response previously submitted with supporting documents,
non availability of the old response/supporting documents and AO's reasons on the present portal
adjustment of AY 2026-27 refund against the alleged AY 2012-13 demand
requirement to verify the complete departmental record before recovery/adjustment

5. Should the RTI, grievance and appeal be pursued simultaneously, rather than waiting for one remedy to conclude?

6. What would be the safest and most effective legal strategy in the interest of the assessee?

Please give independent practical and legal opinion, particularly on the grounds of appeal and limitation/condonation aspect.


TARIQUE RIZVI

DEAR SIR

TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION WHETHER HAS BEEN ANNOUNCED


Kaushik Roy

Opening valance of DTL 195731.00. current year closing wdv as per companies act 34,95,400.00 and IT act 2771830.00. Whatwill be the closing figure ? will it be DTL or DTA. someone calculated closing DTL as 7603.00 (195731- (3495400.00 -2771830.00)*26%). Is it corret method? pl. help with calculation.


BISWAJIT MAIKAP

iS audit mandatory in Income Tax , if commission income gross received 50,72,732/- for a DTH saler (commission based business, so he wants to show 80%-85% expencess ) ?


Allauddin Patel
28 August 2026 at 15:49

RATE AND HSN CODE

What is a gst rate and hsn code for cotton ginning and pressing service charge ?


TARIQUE RIZVI
28 August 2026 at 15:07

EMI ISSUE IN HOUSING LOAN OLD REGIME

Respected Sir,

ITR FILING IN OLD REGIME
=====================
Professional Charges Receipt Rs 14,40,000
44-ADA income 50% Rs 7,20,000
Less Housing Loan Intt Rs 2,00,000
Less 80-C EMI Rs 1,50,000
====================================
TAXABLE INCOME RS 3,70,000
TAX LIABIITY RS NIL
=====================================
BANK has given us us duly authenticted repayment schedule wherein EMI and interest is very clearly visible. Howsoever some experts have advised us to file under new regime after filing form. Deductoin of EMI under secction 80-C in old regime may attract income tax notice which is an unwated headache.
WHAT TO DO SIR IN SUCH A CASE. PLEASE ADIVE ME AND OBLIGE DUE DATE BEING 31ST AUG 2026






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