Sirs. FY 2024-25. NRI not allowed for indexed cost after July 23 2024. Whether cost of improvement allowed to claim. NRI s property was gifted by parents before 2001. Is this property also indexed cost not eligible. Pl advise

MY CLIENT (FARMER...HAVING AGRICULTURE LAND ) JOINT OWNER OF.............BLDG SINCE 1954

IF BLDG IS SOLD.............IN HIS SHARE GOT AMT

TO SAVE...LTCG

PARTLY INVEST IN........RESIDENTIAL FLAT (READY POSSEION)

& PARTLY AMT................USE FOR PURCHASE OF...........3 DIFFERENT.......AGRICULTURE LAND

This pertains to AY 2023-24 I have filed multiple revised return In one of return filed on by mistake I claim political donation I filed another revised return after that thereis no political donation The return with political return got nullified as Another return filed And last return where no political donation got processed with demand which is already paid. In last revised there is no political donation
1. I am getting message and email from CPC Bangalore regarding fake donation which is already revised and no claim is taken. How to handle this situation. I have also raised grievance but no resolution.
2. Is there chance of 148 assessment in my case for political donation which was rectified in revised return

My father had created huf in 1990 and filed ITR every year. He has 2 sons , I am the eldest son. My mother is alive. My Father died in 2012. I and my brother were not married. In 2013 I became karta of his huf. Bank I sign cheques and ITR return filing I do signature. Huf is still on father name. I am not aware if we have transferred all his assets and liabilities ( only cash/bank/ unsecured loans are there in huf , there is no property in huf) I got married in 2019. My brother got married in 2020. He opened his new huf account.

Query
1) can mother become karta of father's huf now ?
2) can I open a new huf on my name (I married in 2019 and have no kids )
3) if I can open my own huf , can I continue with father's huf as well ? And file returns for both accounts ?
4) if I can open my own new huf account,but in case I can not continue with father's huf account , then what happens to father's huf account ?
Thank you in anticipation.

Sirs. I have generated EVC for generating ack for UPDATED return but Incometax portal says invalid EVC. TRIED many times. Experts pl inform how to solve this error

I have purchased a property >50lacs. The payment is to be done in instalments. I have paid only 10% (more than a month back) and the there is another part payment due now. The rest being a home loan. How do I file the Form 26QB.

1) Can I show the entire payment amount as lumpsum or it necessarily needs to be shown as multiple instalments?
2) What is the date of payment that should be captured ?
3) Do I need to show my wife's details as the co owner though financially there is no contribution from her side ? How do we split this payment in case that is needed ?

My query is - When option contract is exercised on Expiry day, we need to give physical delivery of stocks from our Demat Holding to broker for physical settlement. Is giving physical delivery of stocks consider as Capital Gain/loss or F&O income?
As Giving physical delivery from Demat Holding is considered as "Sale of stocks".
So, is it needed to report in ITR as Capital income or F&O income ?

"Subject: Clarification on Rectification Order and Validity of Demand

I am seeking clarification on the rectification order and demand validity related to my updated return. Here's a brief background:

- Rectification filed on January 21, 2024, was processed with a demand of Rs. 5,160, which was paid.
- Updated return filed on March 27, 2024, was rejected on December 4, 2024, due to Part B ATI refund issues.
- Another rectification was filed on December 7, 2024, but was rejected on March 17, 2025.

Fact of the Case:

1. Is the demand of Rs. 5,160, raised in the first rectification order dated January 21, 2024, still valid?
2. Will this rectification order be considered as a final order, or are further rectifications possible?

Please provide clarification on these points to ensure I take the necessary steps.

I am looking for an option to get exemption on Long Term Capital Gain tax on Equity Shares. I came to know that one can transfer the amount to Capital Gain Account Scheme (CGAS) Account
if the return filing date is near. Then the amount needs to be withdrawn from the CGAS account within 2 year to buy a residential property or within 3 year to construct a house.

Queries:
1. Does section 54F applies to only residential property? Doesn't it apply to land? I mean is land buying considered as buying a property?
2. Can section 54F be used for buying maximum two residential properties in lifetime? In other words if one ensures that there is no or a single property before using 54F every year unlimited times?
3. Does one need to transfer only LTCG tax amount to CGAS account or whole LTCG amount prior to tax?
4. If one transfers LTCG to CGAS. How the ITR 2 needs to be filled? Does one still need to show LTCG details? In addition to this, in which section CGAS details need to be filled?
5. Section 54F allows one to buy a property or construct a house within 1 year. So if one wants to know use section 54F but not actually used, then is there option on ITR 2 to fill such information?

Dear IT Experts
Any one can share me the Income Tax Calculator In Excel FY 2024-2025 (BENNY THADATHIL)

Thanks in advance