Answers On Category: Income-Tax
  how to check procedure in itr filed returns purposes of purchases of new land
sir, The it tax payer purchases of new land purposes confirm sufficient money in  filed itr returns. Question: Assessee how the check procedure in it returns.


► Read Answer

  Awaiting Form 4 of Vivad se Vishwas Scheme 2024
Greetings of the day to Authorities, In reference to Vivad se Vishwas Scheme 2024, I applied for this scheme with Form 1, Against Which Form 2 has been generated and we paid amount in Form 3 as well. After that payment and submission at portal of income tax since last two months, I am waiting and continue status reflecting is "Awaiting form 4 Signed copy from CIT" How long it would move further, if any body has idea about this form 4 Time of approval , please let me know at my following email id...dinesh.kumar53@yahoo.com


► Read Answer

  Purchase of silver and gold jewellery transaction and investment limit
Sir, A individual taxpayer doctor sec 44ada provision itr returns filed purchase of silver and gold jewellery transaction rs:5 lacs two times f.y.24-25 Question: Assessess purchase of silver and gold jewellery transaction how many times for one financial year and how much value investing in one financial year it act.


► Read Answer

  Wedding expenses treatment expenses claim allowed and any limit provision applicable for it purpose
Sir, It assessee's wedding expenses rs:15 lacs for the purpose of daughter's marriage purpose f.y.24-25 paid. Question: 1.Assessess wedding expenses amount any limit provision applicable and wedding expenses business expenses claim allowed in it purpose 2.wedding expenses debit to capital account or profit and loss account


► Read Answer

  Disallowance of expenditure on non deduction of TDS u/s 194Q
Assessee fails to deduct TDS on payment made to purchases u/s 194 Q exceeding 50 lakhs. He obtained Form 26A (from their CA ) from few parties. Assessing officer propose to make addition us/s 40 a (ia) of the Act for the remaining amount. Assessee submitted all the purchase bills supported by the bank statement for the payment. And also GSTR 2A & 2B and Annual return table 8 as evidence for the purchase payment along with e-way bill Kindly give your opinion and any case laws in favour of my assessee.


► Read Answer

  it person household expenses or own drawings limit for one financial year
sir, A Individual small business tax payer house hold expenses rs:5 lacs amount all transactions through bank channel paid f.y. 24-25 Question: Assessee house hold expenses detailes and any limit provision applicable for one finicial year in it act and house hold expenses detailes asked it department as per sec 142 (1) in it act.


► Read Answer

  File an appeal with ITAT when revision Petition is dismissed due to time bar
We filed revision Petition against the order issued by faceless team , after the due date to file the RP , with request to condone the delay , subsequently was unable to appear on the hearing date and RP was dismissed since we were unable to submit reasonable causes for the delay , now can we file an appeal with ITAT


► Read Answer

  56[2](x)
Does it apply to Tenancy rights acquired free after ay 17/18 ?


► Read Answer

  Longterm Capital gain tax exemption for purchase of Flat against selling of Shares & Mutual Funds
Dear Sir/Madam, I am planning to purchase a second hand flat in Hyderabad City in the month of March 2025 or April 2025 through 100% payment by DD (approx. INR 75 lacs).  However, I also plan to sell my existing shares & mutual funds after December 2025 (i.e., expect market to regain the momentum by December 2025).  I expect to get capital gains amount approx. INR 30 to 32 lacs after selling of these shares & mutual funds. Can I get 100% exemption of LTCG amount of INR 30 to 32 Lacs even if i pay the entire amount in…


► Read Answer

  Income tax appeal before CIT(A)
The assessee wishes to file a CIT appeal on his own. And he is financially weak and unable to pay 20% of the disputed tax amount. In this case, is the appeal allowed? your valuable advice will be appreciated. Thank you


► Read Answer