Query:
One of my client has taken a mortgage loan against his property of Rs 1 crore for purchasing other property so my question is as now after taking loan he has decided to not invest in property and he wants to invest in mutual fund.

So my query is can he do so

I received money along with my bothers sisters and uncles when property inherited by us from my paternal grandfather, was sold ten years before. my 1/12th share. (2 uncles and 2 siblings and mother). Rs.10 Lac was not given by the builder then and held back as security until premises made vacant by tenants. But builder lapsed on the agreement for ten years for lack of money . Now after raising a legal notice by us, he has agreed to restart the project and pay Rs. 10 lac withheld. I had disclosed the full amount before ten years in my IT return as Capital Gains. I had put the indexed amount under NHAI bonds for 5 years. This amount then included the INR Ten lac receivable now. So Should I now re-disclose this INR 10 Lac amount in FY 24-25 ?. Is it necessary?
In the meantime I lost my mother 2 years back. so her share of INR 10 Lac will be divided among her 3 children. So I will receive INR 10 lac/ 3 from my mothers bank account ,which is operable by my sister. how to treat this money in my return next year?
The builder will enter into a agreement now to give interest on INR 10 Lac for ten years (as per previous agreement) in the form of space of 100 sft. but again convert this 100 sft x Rate per square foot to INR and pay at the time of plinth may be 1.5 to 2 years hence to me (and all others as well) . How to treat this substantial money to tax then?

Sir,
TDS form 26Q for march-2024 got rejected with massage : Line No 2 - Duplicate Statement
Please help somebody .

Dear Sir,
Director of the company providing guest house to the company and the guest house is used for the purpose of business. The guest house rent allowed or not in case of the company. If yes, under which section. The rental income in the hands of director taxable under which head. Please explain.
Thanks in Advance.

I am a salaried individual and my employer deducts professional tax of 2500 every year. The same is deductible under Salary head while filing IT Return.

Now if I were to start freelancing activity, wherein if I were to setup proprietorship firm with UDHYAM, trade licence, GST etc. do I need to additionally enrol myself in professional tax?
I am asking the query since I am already paying professional tax as salaried individual. Do i need to pay two times? My PAN should already be recorded.
Moreover, I have heard that those who have registered under GST in West Bengal would need to pay professional tax, irrespective of turnover. Is that true?
What will be the implications?

Refund of ITDS is not allowed vide Updated Return. But whether tax liability can be set off from ITDS ?

Proprietor firm mein wife ko salary dikha sakte hain ?

Sir,
A Doctor maintained a private hospital and pharmacy Stores
Cash balance as on dt:30-03-24 rs:40 lacs as per hospital account books and physical verification cash rs:35 lacs
Cash balance as on dt:30-03-24 rs:30 lacs as per pharmacy Stores account books and physical verification cash rs:32 lacs
Question:
Assessess excess and shortage cash amount deposit in bank account as on dt:31-03-24 compulsory.

Hello I have queries regarding taxation on property.

In this financial year, bought an Under-construction property - joint ownership - home loan EMI ongoing.

1. Is the principal component of EMI deductible under 80C for under-construction or is it deductible after completion certificate in 5 installments like the interest component.

2. After discussing with the developer, the overall property value has decreased . However , since sale agreement was registered and subsequent TDS were paid on demands, what will happen to the remaining stamp duty (on which value will the rest stamp duty be charged on) and TDS correction in 26QB?

I have payment due of rs 25000 since fy 2021-22, supplier is a trader of chips . Supplier fulfils criteria of msme . In this case do i need to make payment before31-3-2024.


And in case supplier has closed down business how can i make payment . To that msme if it is required to be paid