In my case of property TDS, demand was raised for in-operative seller's PAN, which was later linked. But, I filed a correction to change date of deduction, which is now pending for AO approval. Now, after the circular should I cancel the correction ??

I was working as private employee and retired after completing 60 years. I received gratuity income and leave encashment after retirement. In form 16, these two part are showing under less deduction section Gratuity section 10(10) and leave encashment 10AA. Do i still need to submit form 10E to claim tax exemption on these two part.

Dear Experts,
I seek your guidance regarding a client’s foreign investment disclosure issue.
My brother (Resident and Ordinarily Resident) had invested in foreign shares during FY 2021–22 (AY 2022–23) and made further investments in FY 2022–23 and FY 2023–24. However, he did not report these foreign holdings in Schedule FA in the ITRs filed for AY 2022–23 and AY 2023–24.
As of now, he still holds some of those shares and wishes to disclose them correctly in the current ITR for AY 2024–25.
Additional Details:
• Residential Status: Resident and Ordinarily Resident (ROR)
• Years of Investment: FY 2021–22 to FY 2023–24
• Dividend Income: Minimal dividend was received in one or more years (but was not disclosed)
• Total value of shares: Never exceeded ₹1,00,000 in any year
• Current return filing: Planning to file ITR-2 for AY 2024–25
Kindly advise on the following:
1. What are the possible consequences or penalties for non-disclosure of foreign shares and dividend income in earlier years?
2. Can he now disclose only the currently held shares in Schedule FA of AY 2024–25, or is it mandatory to revise or update past ITRs?
3. Is it advisable to file Updated Returns under Section 139(8A) for the previous years even if the dividend income was minimal and tax impact negligible?
4. Will such voluntary disclosure now reduce the risk of scrutiny or penalty under FEMA or the Black Money Act?
Looking forward to guidance from the CA community. Thank you in advance.

Is form 10E to be filled for leave encashment and gratuity received at RETIREMENT?

please elaborate on the subject, i am so confused

Dear All,

Request you to all, kindly inform coaching center for ICWAI-Final both group.

Thanks

Hello

Getting the cited message though I havn't claimed deduction u/s 54F. How to resolve this ?
Pls help

Shall we adjust available ITC in CGST to IGST for refund under export of sales without payment of duty.
Due to surprise visit from the department, we have filed DRC-03 subsequently the accumulated ITC has been reduced.
There is an available ITC in IGST and when IGST ITC is insufficient for the balance amount, shall we utilize CGST ITC for refund?

Hi,

I have worked in a company for less than 5 years and left it due to personal issues. As I didn't get work for almost 4 months I withdrew all my EPF amount. Since the amount was withdrawn after I left the company, this withdrawal amount is not showing in form 16.

Since I have done the full EPF withdrawal before 5 years, so i am confused as to how to show this amount in ITR 2. I wanted to ask few questions:
1. Employer Contribution and Interest on it - Where to show in ITR 2
2. Employee Contribution and Interest on it - Where to show in ITR 2
3. I have not claimed EPF deduction in my ITR in earlier years, so the amount which I have not claimed as deduction in earlier years, where should i show that amount. (EPFO has deducted TDS on all amount by the way)

Thanks in Advance

SIR,
We have installed Solar Power Plants out side our factory and the power generated given to GRID and adjusted in our monthly power bills accordingly. In a recent AAR by Tamilnadu Authorities in the case of kanishk Steel Industries ITC on Solar panels and services denied . Under the circumstances please advise whether we can claim ITC on Solar Plant related Items and services.

Thanks in Advance.