I stay in ancestral property. I have one property jointly owned by me and my wife which is rented out. what will be Income tax treatment for rent received, property tax paid, and repairs expenses? Can any one of us claim such property as self occupied?
an assessee received salary from local body as a casual worker, which is below 250000, hence no tds was deducted by the employer. Now Assessee also have business income, hence he is filing ITR 3.
IN the salary details section -Salary as per 17(1) it says "as per form 16/ AIS".. now as there is no form 16, should he just put his actual salary from payslips here?
I am getting the following error :
Error :Deduction u/s. 54EC claimed here (Table D) should match with total of deduction(s) claimed in respective asset.
Please help
Date of agreement - 08.07.2024. Joint Buyers - Mr X & Mr Y. Total Sale consideration Value Rs 63,51,206
Total TDS Rs 63512. Stamp Duty Amount Rs 3,11,209
Questions:
1. Payment type = Installment / lumpsum?
2. Total amount paid/ credited in previous installments, if any (A) - what should be this amount?
3. Amount paid/credited currently (B) - what should be this amount?
4. Total stamp duty value of the property (C) - what should be this amount
I have selected Lumpsum.
Total amount paid/ credited in previous installments, if any (A) - 0
Amount paid/credited currently (B) Rs 31,75,603
Total stamp duty value of the property (C) Rs 3,11,209
I am getting 2 error messages as 1. "Please enter proportionate share of Stamp Duty Value." 2. "Difference between Amount paid/credited currently (B) and Stamp Duty Value (C) is more than 20%."
Respected sir/madam...
When filing the ITR...I checked AIS, in that I found the list of shares/ MF'ssold during the year, some shares and Mutual funds are in active status some are in inactive status... only sale consideration of active shares/MF's are matched with grand total given in AIS...now my doubt is while calculating capital gain and while reporting in ITR-2 about shares/ MF's what amount I have to mention that means total of active and inactive or only active shares/MF's...please respond to my query as soon as earlier.
My mother aged 76 retired from service getting pension and also other incomes through FDs. However her total income is less than 5Lakhs.
She was not filing her ITR since 2014-15 due to her total income is less than taxable income.
We noticed that from her deposits TDS was deducted for the FY 2022-23 and FY 2023-24.
For claiming the TDS while filing the ITR website it's showing only for 2023-24 TDS.
Do we have any provision to add the FY 2022-23 TDS for claiming.
Kindly please anyone clarify me.
I have done share activities which include Long Term, Shot Term, Intraday and F&O
so i downloaded statement from stock broker website, sum charges were incurred on transactionS but they did not split the charges head wise.
now how can I split the charges (expenditure) head wise?
I am a pensioner without business income but with a little Capital Gains from sale of shares & redemption of Mutual Funds. Principal income is from pension. I've completed entering all the data for online submission of ITR 2 on Govt IT Portal. While beginning the data entry I chose OLD REGIME. If I want to opt for NEW REGIME now just before submission do I have to start afresh or is there an option for the same at this final stage?
If a person sale a residential plot of land purchased in 2010, can he claim exemption under section 54 for construction of his house?? (old house demolished & constructed)
Turnover in the case of Intraday Trading is Absolute Turnover, IN AIS statement Showing sale Value of Shares and securities is amount of Rs 2.20 Crore .
please assist which turn over i have to show in ITR 3 in speculative business 2.20 Crore of Absolut turnover which is 50K .
Also it is a loss case so need to require Audit u/s 44 AB ?
in some delivery base transactions also to be included in Business income or to be shown in Capital Gain statement ?
Rent Income from House Property