Dear Sir / Madam,

A professional person was filing his return u/s 44ADA, i.e. presumptive taxation till last year. Now he will be an NRI from the current year. He already filed the return u/s 44ADA for 4 years.

Since section 44ADA is not available to an NRI, he needs to prepare IE & BS and file the return under normal taxation.

Will this switching from section 44ADA to the normal scheme of ITR filing attract the Tax audit provision??

Please guide.

Regards,
Suraj

I sold a flat where the LTCG is Rs 56,50,000/- (Sale Value 19125000 less CoA Rs 13475000). In the same financial year I sold shares and/ MF where the LTCG is Rs 15,00,000/-. Can I offset the LTCGs
of Rs 56,50,000 + Rs 15,00,000/- against the purchase of a residential flat bought at a price of Rs 1,70,00000/- and pay no LTCG tax?

A trust was granted provisional registration under Section 12A on 07.03.2023, valid from Assessment Year (AY) 2023–24 to AY 2025–26. The final registration under Section 10AB was approved on 29.03.2025.

In this case, for the Financial Year (FY) 2024–25 (corresponding to AY 2025–26), should the trust file ITR-7 as a registered trust under Section 12A?
Deduction of expenses in profit and loss can be allowed in such case?

Dear Sir/Madam,
Any expert in this matter concerned,please help,

I was trying to file updated ITR 2 for AY 21-22(in Excel 2024) in my new laptop, everything went smoothly but when I tried to generate json, in summary schedule upon clicking save json, json file is getting stuck at 33.33% encryption and laptop hangs. I tried several times with same consequence.

What to do to resolve this situation,
Thanks

If by allowing IT act dep and disallow Company act dep. (Dep. as per IT Act is less then companies act dep.) income as per income tax act (115JB) is greater than company act then 29B required to be file?

Dear Learned professional,
kindly advise if resident company purchase shares from foriegn shareholder, while making payment by bank - tcs/tds to be deduction.
kindly advise

Dear members

Please suggest whether TDS applicable of Compensation paid to Landlord as per High Court order....

Dear Experts, While filing the return of income for the AY:2024-25 Form 10IF was uploaded, by mistake and hence deduction u/s 80P(2)(a)(i) is not allowed. How to rectify the same and get the deduction.

Sir,
I was retired from govt service in 2023 and some fund received by me in form of PF, gratuity, commutation and leave in cashment. This FY I have gifted some money to my two sons which was transferred through RTGS and cheque in two banks. RTGS transfer and cheque amount transaction was below 10 lacs each time. My both son opened FD IN their two banks in 9.85 lacs in each bank.
So each son opened FD 9.85 lacs IN Bank of India and 9.85 lacs in punjab national bank.
I want to know whether notice from IT department may be received by my sons regarding opening this FD.
Money is gifted by father to their son which was received on superannuation (govt employee).

Sir,

A residential property was purchased in 2021 in the joint names of husband and wife. However, the entire payment for the property, including TDS, was made by the husband only. Accordingly, the property was recorded in the husband’s books of accounts as 100% ownership in his name.

Now, in 2025, the property has been sold, and the buyer has deducted TDS in the husband’s name only. The entire sale consideration has also been received in the husband’s bank account.

However, the transaction is reflected in the AIS of both the husband and wife due to joint ownership in the property registration documents.

Kindly advise — For feedback to be given in AIS ? and paper work to be done for any litigation in future