A firm was owning a piece of land as capital asset which it converted into stock in trade in FY 2022-23 and then after diversion developed it and sold plots.in FY 2023-24. There are some plots in stock as well. A profit and loss account is drawn up for the business. Business income is duly audited and that will be filled up. The issue is how to report capital gain on converted capital assets into stock and then sold as pl;ots. Whether in the capital gain entry for each plot is to be made in the ITR or a consolidated entry for all plots sold may be made. Please guide.

if i earn 32000 from equity and 21000 from currency FNO and loass of 1 lakh 17000 from FNO trade , am I eligible for short term capital gain tax?

What is the standard Deduction(allowance) allowed in STCG /LTCG FY 23-24 for nil income tax.
Upto what amount tax does not attract and slab there after.?

Dear Experts,
F&o sale amount is above 10 cr but absolutely turnover is below 10 cr.

Is it correct to report sale amount of f&o in other operating revenue of trading A/c.

Also let me know where to report absolute turnover of f&o in trading or p&l A/c

Thanks

I am filling out ITR 3. I have earnings from the stock market (no intraday, no F&O), and some of these are from stock buybacks. Are these earnings (buyback) mandatory to show in the ITR? If yes, how and where should I show them?

Sir, Whether deduction under section 54 can be availed in respect of amount received on compulsory acquisition of residential house property by railways, undertaking to buy or construct another house property. Also, when we undertake to buy / construct a new house property by availing the deduction under section 54 or 54F, whether the cost of site is also considered for new construction of house property or only super structure investment is to be considered. Thanks in advance and Regards.

Am falling under 30% tax liability with income of 30 lakhs
Will my STCG/LTCG attract income tax as per income tax liability of 30% or applicable slab of STCG/LTCG Slab?

I have a few earning from peer-to-peer lending platforms like IndiaP2P, Mobikwik Xtra. How to show these in ITR 3?

If any private limited company is incorporated in february 2024 and only have issued share capital
So Audit under section 44AB is not required under income tax So What is the return filing Due date for such companu?

Dear Sir,

If a person wants to sell his property and use the sale proceeds in pre-payment of an existing home loan then will he get capital gain exemption on the property he sold.

Please help me in this matter.

Regards,
Divyesh Jain