Sir, in one of the Asstt.Year we have prefered an appeal against the penalty order u/s.270A. Notice u/s.156 speaks that if the demand is not paid within 30 days, then simple interest could be charged u/s.220(2), again furthere to say that provisions of U/s.221 would attract that penalty would also attracted. Here my doubt is, if I succeed in the appeal, then, penlaty will be deleted. If I do not succeed, then as I understand that the penalty levied by the AO remains same. But how come, penalty carries the simple interest U/s.220(2) and again penlaty carries U/s.221 ie the further penalty. Kindly help me out in this regard sir.

Sir,
Whether transfer Rs 50 lacs to my two sons (50 lacs each son) through RTGS or cheque as a gift during a financial year is totally tax free for donor and donee?

2. If, their is any boundation to prepare gift deed on stamp paper duly notirrised?

Thanks sir

HII!!! Mr. ABC is getting married on 15/11/2025, kindly expain tax liability of money received on day of marriage to him and to his parents ?

Sir, Plot given under JDA → received flat → flat sold. What should be the COA for capital gains? Only land cost proportionate? Or include builder consideration + stamp duty too?

if father controls indian entity and son controls foreign entity, but both dont interfere in other's entity (means no control on each other), then they are not associated enterprise right?
my view --> yes, they are not associated enterprise beccause, there is no control of any kind on other's entity
section 92 says deemed associated enterprise means jointly controled by him and his relative . In my case, there is no say of anyone in anyone's entity.

am i fairly correct that father-son where there is no say at all in management (and , further, no mutual loans also etc) is not asscoaited enterprise?

Sir,

यदि एक 60 साल से कम उम्र वाला जिसकी सैलरी इंकम 7 lac हो और fd interest income 5.75 हो और वो बैंक में फॉर्म 15G जमा कर देता हो गया तो क्या बैंक tds काट सकता है क्युकी standard deduction के बाद उसकी इंकम 12 lac होगी और टैक्स liability nil होगी l
1.क्या 15 g जमा कर सकते हैं?
2.बैंक tds काट सकता है 15 g जमा करने के बाद भी नहीं जबकि estimated annual income 12.75 lacs (7+5.75) जिसपर कोई टैक्स liability नहीं होगी after relief u/s 87A.
🙏

Sir, now a days, the following kind of mails are received for old periods:

Defaults have been identified in the Demand Management Request vide Token Number xxxxxxxxxxxx filed by you for Q4 of FY 2012-13 for Form 26Q and processed by Income Tax Department (ITD). Refer attached default summary for further details.
This default summary is password protected. To open the PDF, enter the first four characters of your TAN in capital letters, followed by an underscore (_) and date of filing of regular statement in the format DDMMYYYY. For e.g., if your TAN is ABCD12345E and date of filing of regular statement is 30-Sep-2012, enter password as 'ABCD_30092012'.
then,
Demand is created with the following massage:
Demand Notice u/s 156 on Account of Demand Management Request

what exactly are these massages sir.

We are apply for form 10AB( 12A AND 80G) before 30.09.2025. Now we got hearing notice from department. So can i response for this notice in onine or offline i.e can we go hyderabad ?

Sir,
1. If a person below 60 years age earns interest on fd during the financial year 25 - 26 Rs. 4 lacs and submit form 15 G, then whether bank will deduct tds?and 15 g will be valid.

2. What is the limit of interest on fixed deposit earns, when 15 g and 15 H become invalid, and bank will deduct tds even after giving form 15 G and 15 H. Please note that 4 lacs as interest earn on fd is made in 3 banks separately and each bank interest on fd is less than 2 lacs.

We have entered a JDA for construction of Residential Flat and issue the POA to Developer and Coforming Party in the FY 2022-2023 for doing the needful. The Ratio is 45% & 55%.

We have received a sum of consideration from the Developer in the FY 2022-2023 to 2024-2025.

After construction the Conforming Party (Buyer) start to sell the flats after execution of proper agreement duly signed by us as a Land owner, Developer and Conforming Party and the whole consideration duly received by the Developer and Conforming Party.

But in the FY 22-23 to 24-25 we found that, every consideration executed by the Conforming Party reflect in the AIS under our PAN.

We know, there is a Capital Gain for transfer of Land to the Developer and we are ready to pay the liability .

Can any expert advice us, why the whole liability shown under our PAN and how to resolve it.