We are purchasing grocery for distributing poor people. The purchase is about 75 lacs. This grocery we debited to charity & donation account. The same expenses, we add back in profit. On this expenses we did not deduct tds u/s 194 Q.
Question-----
1) Even we add back 100% expense due to not business expenses, though still required again 30% expenses add back in profit.
2) If not deduction of tds any interest,/ penalty or any prosecution. What percentage int & penalty.

Sir,
While calculating relief of Section 89 in Table A / Form 10E can we calculate and claim relief as per New Tax Regime , when ITRs of past years were already filed in Old Regime.. Example when ITRs of Financial Years
2020-21,
2021-22,2022-23 were filed as per Old Regime in relevant assessment years. But salary arrears of those years are received in FY2025-26 ( AY2026-27) . Table A for past years for which arrears are received is to be completed. Portal gives system calculated as per new regime ( being default regime ) tax on Total Income (inclusive of arrears of each past year ). Against which option is either to accept system calculated tax amount OR input own tax calculated amount of each past years for which arrears are received. Now because of alternate tax regimes (Old or New ) the query arises.
1.Can we opt New Tax Regime for calculations of past relevant financial years , even when ITRs were already filed under Old Regime of relevant AYs.
2. Is there any restriction that relief of Past Years has to be calculated (and put in filed of Table A field ) as per same regime as was opted in ITRs filed for related Assessment Years ( against system calculated figures of default regime)
3.Can relief calculations be now made in more beneficial mode of calculations for past years as well
Please guideon above pointwise .

Sir,
Can I sell family gold oraments with limits on weight ,without attracting Income tax ? Please clarify. Thanks

If a partner incurs travelling expenses exceeding ₹20,000 for the purpose of the firm’s business and the firm subsequently reimburses the exact amount to the partner, whether the provisions of Section 194T of the Income-tax Act, 1961 are applicable on such reimbursement?

Payment made to Indian company for providing cloud based service. Subscription is for 1 year.
Is tds applicable, if yes which sec.

Hence query:-

1 Can for financial years 2021,2022,2023 the tax calculations ( inclusive of arrears of respective years ) be done Sir
During FY 2025-26 some arrears are received and these arrears are of and related to earlier financial years. Where as in current financial year income ( i.e for Assessment Year 2026-27 ) ITR is to be filed under New Tax Regime ( which is now a default regime in individual case ). But for income of earlier financial years i.e 2020-21, 2021-22 .2022-23, the ITRs were earlier filed under Old Regimes in their relevant assessment years.
Now relief under section 89 is to be claimed with calculations and by filing of Gorm10E in assessment year 2026=27.now as per New Tax Regime when ITRs of these FYs were already filed as per Old Regime and time of filing of Revised Returns is also already elapsed.
2. Can there be mismatch allowed of selecting different Tax Regimes for calculating only relief of Section 89. pertaining to past ITRs already filed. OR Tax Regime has to be mandatorily to be same for Relief Calculations and that of ITRs of related Financial Years.
3 Can in above case , New Tax Regime can be chosen for calculating relief under section 89 for earlier financial years, if New Tax Relief turns out to be more beneficial in such case

Please guide point-wise.

Thank You.

Dear Sir,
I filed TDS return for the period Q3. But in that mismatch or not entered the short deduction certificate number. Now how to rectify that.
Can anyone help me out.

A private Trust intends to Gift some land to a society for running a school.
My questions are:-

(1) whether this transaction is treated as Capital Gain in the hands of Trust u/s 50C ?
(2) And what about Society ? Will they have to pay tax ? As they will receive Immovable property without any consideration [Section 56(2) ]

Dear Sir,

I have filed Income Tax Return of the firm for A.Y. 2025-26, while filing the Return of Income I have not consider Advance Tax paid by the firm and Income Tax Return is processed also. Now, what I can do for taking Advance Tax for claiming refund.

Please do the needful & oblige.
Vishal Bhalerao

Need Tax opinion,Our business model is to buy land, convert it to non Agricultural land, develop a solar park by taking approval from govt and sell the full project(EPC+ land) to different customers, we treat such land as inventory. We completed 1 solar park earlier. For our 2nd project, we bought land but due to operational issues we couldn’t start EPC and now we are planing to setup SPV and transfer this land including appovals taken as a capital. Want to understand the Tax implications on this transfer. 1.Whether this transfer is Taxable ? if yes then under what sec ? 2.If Taxable what should be the sale consideration (We receive shares in the SPV)? 3. Can this treated as slump sale or demerger ?