Builder has deducted TDS u/s 194IC from Rent paid on relocation. The building is under redevelopment
This rent comes under hardship compensation and not chargeable to tax. However there is no specific section u/s 10 to claim this rent as exempt income.
How to show this amount in ITR and claim credit for TDS ?

Assessee had transferred property on 28-10-2022 which was purchased in FY 2012-13, Full amount invested in capital gain account scheme (CGAS) before filing of ITR on 07-06-2023. Amount was not utilized and Deemed Capital Gain accrued on 27-10-2025. Whether tax rate on LTCG applicable would be 12.5% (as per current law) or 20% (tax rate at the time of original transfer) ?

Please guide.

A O says more than 20 clients have not paid taxes through return in 3B,on searching with portal all have filed R1 and 3B further clients also confirmed they have files all returns on due dates and all the clients are big suppliers and doing transaction them with many years.How to reply to A O?

I am auditing the financial statements of Medical Services, which engages in the procurement of medicine and surgical equipment for which the company receives a grant from the government. These medicines are transferred to the respective Government hospitals. The entry was passed; however, is not in compliance with AS 12. The grant-in-aid received is designated as a revenue grant, which includes the service charges for the company; however, it is not treated as a revenue item; rather, it is shown as a liability. However, when they transfer the goods to the government, they consider it a sale. The entry passed is as follows
Grant-in-aid liability account Dr
To Grant-in-aid income
To Service charges (plus GST payable on service charges)
Upon discussion with the organisation, they stated that they have a GST registration and, therefore, once purchased, the sale entry becomes indispensable. The sale is at cost price; therefore, GST liability does not arise.

Purchased shares on 5 August 2024 and sold it on 4 August 2025.
Which type of capital gains will it qualify for.
The dates are of actual contract note.
Also found discrepancies in AIS for shares sold within 10 months still it reflects as long-term in AIS. Many costs are shown as nil eventhough purchased 2 years ago. Is their Data in AIS not updated. Is it experienced by everyone.

Thanks in advance

My GSTR3B system generated shows The following in the ITC Tile
IGST -180 (because someone wrongly raised the invoice and also put the credit note)
SGST - 512
CGST - 512
However when I click on Make Payment, it shows 180 as a liability to me.
I have raised complain n GST Portal, but there is no reply. Tomorrow is last date of GSTR3B filing.
Can anyone guide me.

Hi,
I want to specifically file the Indian income tax return under UK-India DTAA. Unfortunately the Indian income tax portal is computing the tax as zero on income chargeable under DTAA. Form 10F was submitted earlier with TRC attached.
1) Are we supposed to be computing the tax and manually update in Schedule SI, Row 40 (Other source income chargeable under DTAA rates) ?
2) If we have to manually update, what is the correct process of computing the tax under UK-India DTAA? Say Dividend is 3 lakhs and Interest is 14 lakhs. Do we compute tax as (10% of Div 3 lakhs and 15% on Int 14 lakhs ?) OR use progressive slabs on total income of 17 lakhs with a cap on maximum tax rate 15% (till 4 lakhs zero, 5% on 4-8 lakhs, 10% on 8-12 lakhs, 15% on 12-16 lakhs, 15% capped on 20% tax rate (16-17 lakhs))
3) As per UK-India DTAA treaty, the tax on interest is 15%. Is cess of 4% payable on the 15% tax on interest?

Dear Sir,

Pls advice for our Company received service from Travelling Agent for Ticket Bookings i.e. AIR TICKET/DOMESTIC TICKET & GIVE US Reimbursement BILL TO US Without Tax.
Its attract GST ON RCM to us ?

The person is a salaried individual over 60 year with income from other sources. For FY 2025-26 only he has F & O Profit/ turnover of Rs. 78,000.00. Which schedule in ITR 3, he should report it -Trading or p/l account & BP?Required to fill BS? Total income apart from F&O is 65 lakhs in FY 2025-26. Is schedule AL mandatory? Mandatory to maintain books & account?

Please provide me average cost of high quality diamonds in 2001