A private limited company is providing business advisory services, CFO services, accounting, payroll and compliance services and transaction advisory services. Whether it has to show the profit from the above services as business or profession? This is crucial to decide whether Tax audit is applicable or not.

Due date for filing the return for a partner in the case of the partnership firm is subjected to tax audit.

Gratuity paid to legal heir in case of active services and sudden death of employee the amount paid to legal heir of rs 46 lakh is taxable or not

IN MY ARCA LOGIN I CAN NOT EDIT MY NAME . AS PER SSP PORTAL ALL MY DETAILS ARE CORRECT. I NEED TO CHANGE NAME AND DATE OF BIRTH IN ARCA LOGIN

I have applied for rectification reprocessing of return on 24th April 26 For AY 2025-26 current status showing underprocessing from 16 sep 26 even after 6 months rectification order not received
1. What are last date to release order.
2 if suppose rectification get order on which rectification is applied remains valid or not Regards

Query Regarding Capital Gain Exemption on Sale of Commercial Property and Investment in Construction on Spouse's Property
Facts :-
1. There is a commercial property held in the name of an Individual Assessee. The land / property was owned by the individual in his personal capacity. Construction on the said commercial property was carried out and funded by a Partnership Firm, in which the said individual is a Partner. During F.Y. 2025-26, the said commercial property along with construction has been sold for a consideration of Rs. 2.90 Crores. After the sale of the said commercial property, the assessee has constructed a residential house on another residential plot which is held in the name of his spouse. Almost the entire sale consideration has been contributed / invested by the assessee towards the said residential house construction.
Question for Opinion:
A. Whether the cost of construction incurred by the Partnership Firm on the commercial property owned by the individual assessee can be claimed as Cost of Improvement / Cost of Acquisition while computing Capital Gain
B. Whether the assessee can claim exemption from Capital Gains on sale of commercial property by investing the sale proceeds in construction of a residential house on a property owned by his spouse?
C. What will be the overall Capital Gain tax implications in this case and what is the best possible way to claim exemption / minimize tax liability under any on the provisions and case laws i.e. supreme court judgement , High Court judgement etc.
Kindly opine.

A person who is a indian citizen and resident in india wants to gift of money Rs.1000000 and his wife wants to gift Rs.1500000 to their daughter resides in usa (who is a citizen of india and a non-resident indian )during December 2026. Procedure to be followed as per income tax act ?

ito added all credit side in bank a/c. of individual assessee and asked to file 148 return.
we replied please consider debit side and credit side is not all income.
but ito now says, please reply when faceless notice comes.
so matter lying pending since 1 year
148 has to be completed till 2027 march.

my q - > cant we compell ito to complete 148 assessmennt face to face as faceless taking time to assign an ito?
case law--> also why department blindly adds credit side of bank statement without considering explanations to each credit? any judgement /new update for this bank statement credit side adding by ito blindly?

While validating the TDS statement in Form 144 Q2, error codes are coming T-FV-4340 to T-FV 4343 relating to dedcutee details (email ID, Contact No. Address & TIN) , Message says these fields should not be provided for the relevant nature of remittance. But IT act did not said this.
how to resolve these query.

Respect Experts,

I am an individual deductor paying monthly residential house rent to an NRI landlord. TDS has been deposited on time under Section 393(2), Sl. No. 17 (Code 1057), corresponding to the earlier Section 195.

However, due to the transition from the Income-tax Act, 1961 to the Income-tax Act, 2025, and the introduction of the new Form 144 replacing Form 27Q, I inadvertently missed filing the Q1 TDS return for Tax Year 2026–27 (April–June 2026), which was due on 31 July 2026.

I would appreciate clarification on the following:

1. Is there any late-filing fee waiver, relaxation or extension for Q1 Form 144 due to the transition to the new Income-tax Act, 2025?

2. Has CBDT issued any notification, circular or transitional relief regarding late filing fees under Section 427 for Tax Year 2026–27?

3. Since the entire TDS was deposited within the prescribed deadlines and only the quarterly statement was missed, is there any provision to waive or avoid the ₹200-per-day late filing fee?

4. Can the Q1 return be filed now without paying the late filing fee, or could CPC(TDS) subsequently raise a demand?

5. If no specific waiver is available, are there any legitimate alternative remedies, procedural options or representations available to seek relief from the late filing fee?

I would sincerely appreciate expert suggestions, practical guidance and recommendations on how best to proceed in this situation while remaining fully compliant. Any experience with similar cases involving the transition to the new Income-tax Act would be particularly helpful.

Thank you in advance for your valuable guidance and time.

Best Regards.