Dear Sir,
My query is as follows:
Mr A incurred Long Term capital loss of Rs. 520000/- in AY 2022-23. He disclosed all details in the ITR and filed it. However, during AY 2023-24 there was no capital gain or loss and he somehow forgot to show LTCLoss brought forward in the ITR of AY 2023-24.

In AY 2024-25, he has a long-term capital gain of Rs. 125000/-. Can he still show LTCLoss of Rs. 520000/- in ITR of AY 2024-25, which he forgot to show in the previous year ITR? and claim set off against LTCGain of Rs. 125000/-?

Kindly guide.
Regards,
Suraj

Dear Experts,
As per the notification requirement Promoter is required to purchase at least 80% of inputs and input services from registered person.

Promoter is making labour payments for constructions, paint, carpenter will that be included or excluded in above 80%?

Sir, kindly inform the provisions/rules under which the TA on retirement to Central Government Employees is exempted from Income tax.Please specify whether all the components of TA like CTG, Transportation of personal effects and Transportation of conveyance are exempted

Sir,
Assessess rs:15 lacs amount from govt purpose for assessess shop demolish.
Question:
Assessess received amount tax applicable

I have 1000 shares of Kwality Ltd , Broker is saying shares have been extinguished . What does this mean ? Have I lost my money ? Is there any way to contact company and trade the share ?

Hi,
My husband is a salaried employee in pvt sector.We are owning a flat now and we are planning to buy a land in a gated community. I m a housewife. I have some queries regarding related to income tax regarding this.
1. Will we have to do anything for TDS aur they will be doing the formalities?
2. Will I get housing loan as registration charge is less in case of females?
3. Can we show in ITR any one house as let out and another as self owned?
4. Within how much time house should be completed for claiming tax deduction on both interest and principal amount?
5. How much amount can be claimed as deduction every year?
6. How will we calculate pre construction period?will it start from the day we register our plot?
7. How will the tax implications be if we buy land now and construct house after 2 years taking loan for land now and home construction later?

Mr. X has a business of trading of Shares. therefore, he treated as a business income. now he wants to know that he is select the code of Investment activity or select retail sales of other products in his return?

My client received Provident fund after the resignation of job from private sector company. he resigns the job after the 28 years of service. He received Rs 20 lack Provident fund from EPFO .

can he liable to pay tax on PF received?

If yes , then how much is PF is taxable or exempt from tax .

thanks in advance for your valuable suggestion

Sir,

As NRI , tax on Interest earned on FD in his NRO a/c with bank is deducted at @31.2% ( applicable for below Rs 50 Lacs ) under section 195 of Income Tax Act, as shown in AIS. Hence following queries:-

1. Now when NRI files ITR of this income from NRO FD Interest under head " income from other sources " then will it be taxed at slab rates ( as may be applicable ) in his case ?

2. Will it be taxed at same rate at which TDS is deducted u/s " 195 (k) any other income." ??

3. Is that above explained income of NRI is subjected to any special rate of tax when TDS is already deducted u/s 195 of Income Tax Act . ???

Pls guide early.

A minor filing his/her income tax return separately, for earning from own skills. While registering his/her PAN through Parent's login, any document related to "Proof of Income" of the minor is to be uploaded mandatorily. Now, in case the minor earns from tuition fees which is in cash what document to be uploaded?