HI ALL ,

Can someone help to put some details for ITR , in which Medical allowance and Medical expenditure deduction to be done along with Deduction under Section 80DDB. What is maximum amount that can be availed in that .
both for private individuals and cG staff .

Tax payable for salary 7- 10(Age for 45 -60) and (60-79) how much is tax payable with all savings .

Hi,
I have a query regarding capital gain on residential house property (RHP).
Suppose I sell my RHP1 that I bought in FY 2018-19 for 30 lakhs, for 80 Lakhs in FY 23-24. The LTCG from this comes out to be approx. 43 Lakhs.
Now I buy a new RHP2 in FY 23-24 itself for Rs. 60 Lakhs and take exemption under section 54 for complete 43 Lakhs. 54 Condition is to hold onto RHP2 for 3 Years and construct it.

1. Suppose I get a good opportunity and sell RHP2 in FY 24-25 for say 85 Lakhs. The exemption under section 54 will be withdrawn. The capital gain on RHP2 will be short term of approx. Rs. 68 Lakhs. So i have to pay short term capital gain tax on Rs. 68 lakhs.
A) Do I need to pay any tax on the initial capital gain withdrawn of 43 Lakhs?
B) Do I need to pay any interest as the initial LTCG of 43 Lakhs arose in FY 23-24, but was now deferred and now being payed in FY 24-25?

2. Suppose I get a good opportunity and sell RHP2 in FY 27-28 for say 85 Lakhs after holding it for more than 2 Years but less than 3 years. The exemption under section 54 will be withdrawn. The capital gain on RHP2 will be long term of approx. Rs. 68 Lakhs. So i have to pay tax on long term capital gain on Rs. 68 lakhs.
A) Do I need to pay any tax on the initial capital gain withdrawn of 43 Lakhs?
B) Do I need to pay any interest as the initial LTCG of 43 Lakhs arose in FY 23-24, but was now deferred and now being payed in FY 27-28?

I know it is a bit extensive. Thanks for your help in advance.

Redemption of Units in AIF Cat 3. I have redeemed 2 AIF after holding them for period of 9 months & 16 months. How Gains on above redemptions will be treated & taxed???

Sir,
If I made Turnover of 3cr in F&O and made loss of Rs. 10 Lakhs and only has Salary Income other than that. Is it mandatory to get Tax Audit or Should I file Normally. Since F&O And Salary both are through bank not Cash ?

Our GST registration has been suspended due to non-filing for six months, and a show cause notice was issued one month ago. Consequently, I am unable to file an application for the revocation of the cancelled registration on the portal. What should I do? Can I file the remaining due filings without revocation?

We are Register as a Partnership Firm.
We are Builders & Developers, We have Turnover 1.60 Cr in FY 2023-24
All receipt in Bank Accounts only
Can we file ITR 3 with 6% profit

Pls Suggest

Sir,
Assessess maintained a jewellery business in own commercial building.if assessess commercial building demolished govt for road extension purpose.assesses rs:15 lacs amount received from govt
Question:
Assessess received amount tax applicable for income tax purposes.

The return of income for AY 2024-15, for the purpose of income declared u/s 44AD or 44ADA requires breakup of receipts viz. Bank(ECS/Cheque /DD), Cash and UPI ( Other Than ECS/Cheque/DD/Cash)

The assessee desires to declare net profit u/s 44AD @10% which is more than 6% and 8% as prescribed and instead of filling breakup of receipts puts entire receipts in the cash column.

My query is whether the Assessing Officer may claim that what has been declared in the cash column is not your total receipt of business but it is only the receipt in cash and the receipts in the bank account and valets have escaped assessment as the same has not been so reported.

Please advise. Thanks

The amount/expenditure shown under Sale of listed equity shares in the AIS for FY 23-24 does not agree with the amount in the Capital Gains Statement issued by the Broker. Do i have to take up with the Broker or submit online feedback on the relevant entry in the AIS?

Dear Expert,
I am Salaried Person with salary of 2.75 Lac.
I'm earning by Tuition fee of Rs. 150K.

Can I show this Tuition fee in "Income from other sources" by filling ITR 1 ?