MY QUESTION IS WETHER SON CAN CLAIM MEDICAL INSURANCE PREMIUM PAID BY HIS FATHER (INSURANCE POLICY COVERS BOTH FATHER AND SON) . IF HIS FATHER NOT CLAIMED IT, THEN CAN SON CLAIM IT FOR HIS INCOME TAX DEDUCTION ???? SON IS WORKING AND NOT DEPENDENT ON FATHER. FATHER PAID MEDICAL INSURANCE OF ENTIRE FAMILY (INCLUDING SON) AND IF FATHER NOT CLAIMED CAN SON CAN CLAIM IT FOR HIS INCOME TAX DEDUCTION U/S 80D OR NOT ?????

A land was purchased by 5 no.s of the company from 8 nos of landowners, total land value INR 1core 60 lakh- & Market value INR 1 Crore 90 lakh, TDS U/s 194IA deducted at the time of payment of the land cost
1) Are each of the companies required to fill filled 26QB, from 8 nos landlord separately, total 26QB of all companies 8 Nos X5 =40 Nos 26QB required to be filled? as there is more than one buyer & more than one seller of a single land.
2) Is Set forth property value 1 Crore 60 Lakh & Market Value 1 Crose 90 Lakh need to be mentioned in all 26QB of all companies or proportionate property value 1 Crose 60 Lakh/5 & Proportionate market value I crore 90 lakh/5 need to be mentioned in Property & market value field at the time of 26QB filling ?

S bought back some shares in March 2022 under their offer. It is said that the buy back is Taxpaid by them.
How and where to report the same in CG (ITR2). The transaction not reflected in 26s

I have given my property on rent for commercial purpose. tenant has asked me to do some changes which are as follows;
Some civil change (Cement and tmt bars)
providing electricity connection to the doorstep by installing transformer and all accessories required to start it
installing vitrified tiles
Shutter
Meter room of iron sheet
Toughen glass gate

So i want to know can i take itc on these items as these items are purely for the use of tenant and agreement is done by tenant only if these conditions are fulfilled.

Recently we have purchased factory roofing sheets for our factory renovation work. Please clarify itc eligibility on roofing sheets.

Hi Sir,

I am Santosh Kumar Sahoo(Cost Accountant), I have one query regarding Income Tax, Whether Tax Audit is applicable to partnership firm, Which having loss in current FY, Total Turnover Rs 34 Lakh and Expenditure of Rs 50 Lakh, Also in 2021-22 such firm has been started.

Dealer is issuing us normal invoice along with eway bill although his turnover in last preceding years was above 20 crores. Will we be affected due to non compliance by the dealer for not issuing einvoice to us. Please clarify?

Sir, I want to file updated ITR for the FY 2020-2021.
Sir My Net taxable Income is 498556/-
Sir ITR 4 form is showing Late fee of 5000/-

Sir By just paying late fee of 5000/- Can I will allowed to file the Updated ITR or whether additional tax liability I have to pay

2ndly Sir, My Taxable Income is below 5,00,000/- whether I will be allowed to file updated ITR

Assessee has two source of income i.e. (i) Pension and (ii) interest on savings bank account. His pension is exempt u/s 10(18) and thus only an amount of Rs. 25420/- as SB interest reside as taxable income.
Now my question is do he has to file his income tax return ?
If yes, then is it ITR-1 ?
His pension amount is auto populated in IT return from AIS. if I put this auto populated amount as "0" (Zero) in salary part then an warning comes as " Salary income entered is less than salary details provided by the employer. Please re-verify" . What to do in this case ?
Are there any other procedure which have to follow in filing return ?

Please suggest and many many thanks in advance !

Sir /Mam,

If any one TDS payment completed before due date , but returns not filed for total Fy 2021-22(Q1 to Q4)

4 Quarters TDS Return now they want to file,

What is the procedure and how much penalty they attract,

Plz advise

Thanking you,