Nikhil Kaushik's Expert Profile

Queries Replied : 24294

I handle tax compliance, litigation and advisory services. I am reachable at canikhilkaushik @ gmail.com

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ntc pioneer says : It
Dear Sir How much is the tax relief in the case of the following scenario ? Fy 23-24 Gross income-10 lakhs Deductions-pf 1 lakh and housing loan 1.5 lakhs and standard deduction 50000 Gross total of arrears of fy 22-23 received in fy 23-24-4 lakhs Deduction of pf from arrears-1 lakh Fy 22-23 Gross income-7 lakhs Deductions-50000 pf and 50000 standard deduction Old regime is opted in both the years

Prashanth says : TDS credit
Dear Sir, I have a query related to TDS credit which is claimed in ITR but was not considered by CPC during ITR processing. Kindly help me with the possible resolution. Let me know if you need any other information Thank you

ntc pioneer says : Agricultural income tax applicability
What are the tax implications in the following cases? 1) agriculture income 4000 p.a and non agriculture income 100000 p.a 2) agriculture income 6000 p.a and non agriculture income

vijay says : Foreign money as gift
Dear Mr. Nikhil Could you help us understand receiving foreign money from a foreign individual to an Indian citizen as a gift for personal use? Is there any limit on such personal gifts as per income tax, and is there any limit from the FCRA perspective? Appreciate if you could please share your thought so this mat

Suresh Golla says : 26AS
Dear Sir I am retired employee and my wife is housewife, I get pension on monthly basis. Last year we have sold our old house and brought a new flat. Now when I see 26AS, the same amount of sale and purchase is mentioned in both of our 26AS (me and wife), where as the transaction was done only once. Please advise if both of us have to file separate returns for same transaction. Thanks