DEAR SIR,

PLEASE SUGGEST ME, ONE OF MY CLIENT PURCHASED A SITE IN FINANCIAL YEAR 2016-17 AND HE SOLD THE SITE IN THE FINANCIAL YEAR 2021-2022. HE RECEIVED ENTIRE AMOUNT MARCH 2022. BUT HE PURCHASED RESIDENTIAL HOUSE PROPERTY IN THE YEAR OF 2022-23. BUT THE ENTIRE AMOUNT DEPOSITED IN HIS S/B ACCOUNT AND HE DID NOT DEPOSITED ANY CAPITAL GAIN SCHEME UNTILL HE GOING TO PURCHASE ANOTHER RESIDENTIAL HOUSE PROPERTY U/S 54F. NOW CAN WE CLAIM EXEMPTION U/S 54F BECAUSE HE PURCHASED THE HOUSE PROPERTY IN THE YEAR OF 2022-23. OR HE HAS TO PAY CAPITAL GAIN AMOUNT WHEN HE RECEIVED THE INCOME OF SOLD PROPERTY.

PLEASE SUGGEST ME BECAUSE WE NEED TO BE FILED HIS IT RETURNS WITHIN DUE DATE.

THANK YOU

REGARDS

Dear Sir,

While verification of an AIS it has come to notice that an Assesse is dealing in Sales & Purchase of Securities & Units of Mutual Funds along with Salary Income being main component asking for multiple times with respect to Tax P & L unable to receive the same, kindly advice.

Sir,

One my friend is salary employees as lecture in college received Salary income FY 2021-22 Rs. 2,36,000/ also he received examiner fees Rs. 9433/- and deducted TDS Rs. 943/- under section 194JB. He also done transaction Share market short term loss Rs. 26249.70 speculation 2684 (loss) , he sell the share future & option also loss Rs. - 35,063.75/-.

Kindly guide me which return he apply to file the return ? ITR 2, ITR 3, ITR 4

Amounts are paid to share broker as Depository charges, Charges for On-MKT/ Off-MKT Transaction
My question is whether above charges are allowed as deduction from short or long term capital gains ?

Dear Sir

Please suggest what to do in case. I have fixed deposit but no TDS when i update detail in ITR-1 detail of tax deducted at source other then salary. All Column filed except (TDS deducted amount )for Tan of Deductor, Name of the Deductor, Gross amount, year of tax deduction, tax deducted, TDS credit out of Claimed year. When I fill Tax deducted 0 its show error So please suggest

Assessee (Pvt Ltd comapny) was in a trading business incurring losses from a long time. Assessee diversified the business into construction in 2020 but was not able to materialise the same due to Covid. It entered into a franchise agreement with B (Pvt ltd company). B is already into cosntruction business. It paid advance fees to B for purchase of stock for construction business. However was not able to pay full fees and B forefieted the amount. Assessee treated this as Business loss as per 37(1) and B treated it as business income.
IT department has sent the notice to Assessee that the same shall be treated as Capital loss not be adjusted with other business income because asseessee was not into this new business and cannot be treated as loss arising due to same. B on the other hand is treating the same as business income
What is your view.

Sir/Mam,

Retiring Person Receiving Pension , in this pension standard deduction applicable or not

80TTA Senior Citizen How much Deduction .

Plz clarify my doubts

Thanking you,

MR.A has filed income tax return under Non-resident . He has NRI account and he has refund in the assessment year 2022-2023. Refund can be received in NRI account or not ?

I have redeemed mutual fund on 30.march.2021
But the amount got credited in the bank on 2.April.2021(change of financial year).
For FY 20-21 I haven't declared this mutual fund income and filed ITR 1 though it was showing I AIS portal, return got processed also, but now for fy 21-22 do I have to file itr 2 for the same and declare that income or my previous return was wrong?

Dear Sir,

I am filling ITR-1 I have deposited Rs.37000 in PPF account When i show under 80C column it show warning in Red. deduction u/s 80C is more then deduction detail by the employer.please re verified
(2) Same warning again when i show saving interest deduction 80TTA Rs.10000. my saving interest is rs.12231
(3) I have fd in bank but bank not deduct Any tds because interest is under limit.But 26 As and AIS form Show full detail Detail of Tax deducted at source. for example Section 194 A transaction date, amount paid credit etc so can we need to show ITR-1 Under Scheduled TDS.2 Detail of Tax deducted at source from other then salary.
Means Tan of the deductor, name gross receipts, year, etc please suggest