Mr A has acquired land under hakku patra property. The cost of acquisition is zero in his books and it is now gifted to son. The cost in the books of son will be zero or should be recorded at market value

If FY21-22 income is more than 50 lakh but it includes arrear amount also. Without arrear, income is below 50 lakh. Arrear amount is being shown in 10E for 89(1) benefits. Is it mandatory to fill AL schedule in ITR-2. All income is salary&Pension and bank interest income, no any other type of income. If AL to be filled, is it necessary to fill assets which are already recorded in AIS-TIS. ITR-1 is not taking because with arrear income is more than 50 lakh, so ITR-2 to be filled. My question is, this includes arrear amount. What to do?

Which is the best software for filing income tax returns ?

Subject: Income Tax treatment on commercial property vacated whole of the year and paid interest to bank on loan taken for purchasing the property.
Dear Respected Sir
What is the income tax treatment on commercial property vacated whole of the year and paid interest of Rs.10 lacs to bank on the loan taken for purchasing the property in the Financial Year 2021-22.
Will it make any difference if we rent out the property for 15 days i.e. part of the year?
Please provide your expert opinion on the same and oblige.
Regards,
K M Goyal

SIR, I AM A SMALL TRADER WITH TURNOVER 1.5 CRORE P/A , I PAY RENT OF MY SHOP 8000 PER MONTH, WILL I PAY TAX ON 8000 UNDER RCM ? . I AM CONFUSED BECOUSE THERE ARE MANY ARTICLES ON NET SOME ONE SAYS THAT RENT IS EXEMPT UPTO 10000 PER MONTH BUT I CAN NOT FIND ANY GOVT CIRCULAR , IF EXEMP PLZ PROVIDE NOTIFICATION OR CIRCULAR, IF NOT EXEMP PLEASE GUID ME.

Shown exempt income in relevant Sch EI. Whether the Income is to be shown first in OS Sch ( applicable to me as under buy back of shares) then in EI.

Hello Experts,

My senior citizen mother has received a tax demand of Rs. 1200 u/s 143(1) for FY 2019-20.

Reason - she claimed total 10k deduction under 80D, of which 5k under Preventive Health check-up and 5k under Medical Expenditure, since she has no health insurance. However in their demand, IT dept. have not considered 5K Preventive Health check-up.

However as per 80D rules for FY 2019-20, I feel my Mother was eligible to claim as above. So can anyone advise why IT have disallowed the above 5K? Or if demand is auto-generated due to some technical error, then what should we do to resolve it?

Sirs
While filling up IEPF FORM 5, I am facing following few difficulties :
1. In Sl. No. 4 , where and what amount to put value of Shares (is it approx. Market value OR to LEAVE BLANK) ?
2. In the 2nd. Page, what will be the no. of claims, is it 3…i.e. (i) Dividend amount (ii) Original 18 equity shares and (iii) Bonus 18 shares ?
3. In the last page, who will be the Authorised Officer to approve this e-form and how can I do so?
4. Sir, can I claim for Refund of 18 bonus shares.... Physically not with me... Undelivered... and with RTA ?
Please advise.

Regards
Biplab Chakraborty

Dear Friends,
I am little bit confused I have the following LLP forms pending for filing

Form No FY

8 (Form of Financial Statement/solvency) 2021-21 & 2021-22
11(Annual Return 2020-21 & 2021-22

what is the last date for filing of these forms without additional fee for both 2020-21 & 2021-22.
Is there any issue like form 8 or 11 still under revision and new form/s not released by MCA.

Thanks
P.C. Joshi

Dear Sir,

Kindly inform whether Form-12BA is generated from TRACES or the employer has to prepare it in own software ? Is it mandatory to issue for Zero Perks also ? What happens if not issued by employer ??

Kindly inform.