A house is sold by Mr. R to Mr.X. At present electricity bill is in the name of Mr.K(expired) father of Mr. R. now as per will house is in the name of Mr. R and he is planning to sale to Mr.X ..So before registry Mr. R is required to get electricity bill in his name or not needed?

Dear Experts

One of my friend is doing F & O and Equity, He did a 5 Cr Purchase and sale 4.9 C in the FY 2023 - 2024. Do we need to maintain Tally? In ITR 3 do We need to provide balance sheet and Profit & Loss .? Or else can we update no accounts option?

Can you please help me

Thank you
Vijith T K

Good Morning Sir, If ones we have opted option of income tax audit, then whether it is mandatory to get audited for next 5 years ?

Owner of the House is wife as per deed and husband is co applicant for housing loan. In this scenario whether husband can claim tax deduction partially

Dear Sir,

My company had deducted tax from my bill for 10 months for fy 2023-24 but had paid the same t the government on 26th July, 2024 . So now i am under the tax liability . Kindly advise how to claim the amount. i had not yet filed the return.

Kindly urgently reply

Owner of the House is wife as per deed and husband is co applicant for housing loan. In this scenario whether husband can claim tax deduction under Section 24?

Dear Experts,

In previous year I was on my probation period for 6 months and my company have deducted TDS on my salary payment under 194C. I want to file my ITR for AY 24-25 but AI generated data shows my probation period salary under Income from business/profession. Can I file ITR-1 or I need to file ITR-3 to show that salary value as Income form Profession? In previous year I have filed ITR-3, Please assist me in selection of ITR form for AY 23-24

1- Can ITC be available on purchase of a four-wheeler motor vehicle if it is solely purchased to give it on a contract basis to companies?
2- If it is used as Taxi and given to companies on a contract basis.

I had purchased residential flat in Bangalore recently . The flat was worth of 56 lakhs all payments were cleared. After few months builder called and asking for GST on it.

He says its 18% GST as it is a under construction flat.
There is no Possession certificate, but electricity connection was obtained . As per builder electricity connection to flat itself is the possession certificate.

I had paid 31 lakhs out of 56 lakhs before electricity connection .

is it liable to pay 18%GST on it?
First of all is the GST 18% valid for residential under construction flats?

Hello sir ,

My wife is salaried and having income of 7 L . She have purchase Mutual fund (SIP ) of Rs 3 L but not yet sell anu Mutual fund .
She have also income of 2 L from intrest on saving and FD .
Which from should we choose ITR1 as MT not yet sale ? Or ITR2 ?

We have filed ITR 1 on 8th july but not yet process so raising this question. As ITR1 generally getting process in 1 or max 2 days .