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Ankita online
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This Query has 1 replies

24 July 2024 at 08:10

The ITR is Defective

Error Description:
You have filed your income-tax return in form ITR-1. As per TDS details in your Form 26AS, taxes have been deducted under sections 194IA/194IC/194M/194S/194C/194B/194BB/194BA, etc. of the Income-tax Act, 1961. These sections are reflected as (4IA/4IC/94M/94S/94C/94B/4BB/4BA) in Form 26AS. These sections imply heads of income for which form no. ITR-1 is not the appropriate form. Thus, the required schedules for reporting incomes pertaining to said TDS sections are not present in your return of income filed in form no. ITR-1.
HOW TO CLAIM TDS DED U/S 194C and 194A (WHICH ITR FORM TO FILL?)


Sunil Sharma
This Query has 1 replies

This Query has 1 replies

Invested money with a real estate developer in Sep 2021 by entering into an MOU. However developer failed to launch the project to date and refusing to give back the amount. One of the key partners of the Developer passed away in Nov 2023. Assessee is unable to recover the monies invested. Can the individual claim the amount so invested and lost as Capital Loss. Please note this individual is not in business but invested in individual capacity.


vijay
This Query has 1 replies

This Query has 1 replies

23 July 2024 at 22:20

Deduction 80CCD (1B)

Assesse is central government employee, He made investment as below
LIC - 132745
Home Loan Principle -12744
PPF - 112000
Mutual fund - 12000
Employer Contribution in NPS 80CCD (2) - 98497
Employees Contribution in NPS 80CCD (1) - 68600

Can Assessee claim deduction under 80CCD(1B) - 50000.


PARAS CHHAJEDpro badge online
This Query has 1 replies

This Query has 1 replies

23 July 2024 at 21:59

Capital gain on converted stock

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.


Pralay Sen
This Query has 1 replies

This Query has 1 replies

23 July 2024 at 21:36

STCG tax for equity market and FNO

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?


DN MAA
This Query has 1 replies

This Query has 1 replies

23 July 2024 at 20:07

Income Tax liability on STCG/LTCH

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.?


Biswajit Das
This Query has 1 replies

This Query has 1 replies

23 July 2024 at 19:55

ITR filling for Buyback

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?


Vasudeva Rao
This Query has 1 replies

This Query has 1 replies

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.


DN MAA
This Query has 1 replies

This Query has 1 replies

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?


suresh s. tejwani
This Query has 1 replies

This Query has 1 replies

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?







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