My query is ,
My uncle retired from a PSU in June'2023. Employer shown a deduction of Rs. 71130 u/s 80CCD(2) in Form 16 part B (TRACES) and deducted the TDS accordingly. Now when I am going to file the return AY 2024-25(FY 2023-24) in ITR 2 , System is showing "Amount eligible for deduction under section 80CCD(2) = Rs. 0 "
why is this happening ?

1) retired person is not eligible to claim deduction u/s 80CCD(2) ? (then how the employer show the deduction amount in TRACES Form 16 part B ? )
OR
2) it is a system fault ?

Is a return of income processed by CPC u/s 143(1) subject to audit by CAG while auditing the assessments made by the Jurisdiction Assessing Officer?

The audit party carries out audit of assessments made by the Assessing Officer to check if there is any leakage of revenue.

Facts : a return of income of a company was filed well within the due date and the same was processed by CPC with no demand no refund. There has not been a scrutiny assessment against this return. While carrying out audit at the office of the jurisdictional assessing officer. A scrutiny assessment of a return of succeeding year was done by JAO and while audit of that assessment the audit party found that there has been an amalgamation of another company in the preceding year in terms of approved scheme and shares were allotted to the shareholders of the amalgamating company. The audit objection is with reference to valuation of shares.

which is the best software for filing income tax return ?

Which ITR is to be used by banks for filing Income Tax Return?

pls guide

Dear Sir,
My query is as below
My friend had purchased a Land in 2013 for Rs.600000 & house constructed in the same year. House & land sold in 2023 for Rs.33.50 Lakhs.

My query is whether capital gain is to be calculated separately for land & building & whether cost of construction of building is to be treated as cost of improvement.

Kindly advise.

With Regards
Ravi

Hi sir
Salary Income , Home Loan , as well as Health Insurance and also Sale of securities and units of mutual fund
SFT-18-EMF(M) these are show in ITR Return which ITR used and filed with above all

Mr.x gifted a house property to his daughter in law during 2002 guideline value Rs.1150
00. She died in 2007. Her legal heirs consisting of 4 sons and a daughter. In 2007 they made a partition among them and 4 legal heirs release in favour one brother. In 2023-24 he sold the property for Rs.485000. I want to know what is the cost of acquisition taken by the seller for capital gain calculation

Dear Sir,
My query is as follows:
Mr A incurred Long Term capital loss of Rs. 520000/- in AY 2022-23. He disclosed all details in the ITR and filed it. However, during AY 2023-24 there was no capital gain or loss and he somehow forgot to show LTCLoss brought forward in the ITR of AY 2023-24.

In AY 2024-25, he has a long-term capital gain of Rs. 125000/-. Can he still show LTCLoss of Rs. 520000/- in ITR of AY 2024-25, which he forgot to show in the previous year ITR? and claim set off against LTCGain of Rs. 125000/-?

Kindly guide.
Regards,
Suraj

Sir, kindly inform the provisions/rules under which the TA on retirement to Central Government Employees is exempted from Income tax.Please specify whether all the components of TA like CTG, Transportation of personal effects and Transportation of conveyance are exempted