In the intimation of the Income Tax Return (ITR), it is stated that Form 26AS contains only a partial amount of TDS/TCS with respect to the TAN mentioned in Schedule TDS 1/TDS 2/TCS. However, the amount in Form 26AS is the same as the one I claimed in the ITR filing. What should I do if the filing was processed without a refund?

Is tds applicable on listing fees paid to retail store by vendor to sell their products in the respective retail store? For e.g.: A retail chain store XYZ charges Rs.50000+gst as listing fees from Vendor A to make available his/her/their products in the said retail chain store XYZ.

We are paying stipend of Rs. 10,000/- to one professional.

So is this payment liable for TDS deduction ?

An Employee is having taxable income from his salary. But he is requesting his employer to deduct tds on salary income after considering his tds credit from sale of this property i.e., If the employee's salary tds is ₹.1.50 lakhs, he is asking the employer to deduct only ₹. 50k, because the buyer of his property has deducted tds of ₹. 1.00 lakh from him and the same is reflecting in this 26AS.

I question is whether the employer should accept the employee's above request.

Please help ..

Rejiesh

The father/mother are very old and now wants to transfer his/her stocks/shares (original cost Rs. 45000 Current market value Rs.70 lacs approx.) to one of his/her daughter (there are two daughters only). What would be the tax & stamp duty implications and on what value. Please note that since its a gift therefore there is no consideration involved in the transfer of the stocks/shares. Also, what disclosure is required at the time of filing annual return in the Income tax form by the daughter. Pls advise.
PS: Is there any tax implication on the donor father/mother who is retired and Super Senior Citizen.

Hi,

I purchased a property in June 2021. It became a long term asset in June 2023. I want to sell it in FY 24-25. As it is purchased before 23 Jul 2024, I get the option to choose taxation as per new rate of 12.5% without indexation or old tax of 20% with indexation. In calculations, I realize that going with new tax is beneficial if i have to go with paying tax, but I want to reinvest the capital gain in purchasing a new property.

A) Am I eligible to reinvest under section 54?

B) If I am taking exemption under section 54, the long term capital gain being reinvested will be as per indexed COA or non-indexed COA ?

Thanks in Advance.

Hi Experts ,

Can my father sublease home owned by him to my mother who does not have any income, and thereby save on tax. Effectively, he will collect a smaller amount(For ex 5k) as rent ?
And then ,my mother sub leases to me at a premium and records as income from other sources while my father will pay tax on the nominal rent from my mother.

a. Can I claim HRA for paying rent to my mother?
b. Can I pay rent for whole year in one go and claim HRA? or it should be paid monthly basis?
c. Is there any potential issue if all of it is declared and filed?

My client, an NRI, is selling a property ( land) now. He is occupying a flat and the agreement for construction with the builder was entered in Aug 2022; but the sale deed has not been registered yet . Entire price of the property is paid.

My doubt is, if he register the sale deed now, can he claim 54F benefit ?

Pls help

A husband wants to gift Rs.20 Lakhs to his wife to purchase a property in its wife's name....what are the tax implications?

We have recently constructed our new business building and held Electricity Connection, Inspection, Testing & Verification at new building Which is amounted total 280000 without GST.
Which Section of TDS should be apply and with how much rate to be applied ?