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| Awaiting Form 4 of Vivad se Vishwas Scheme 2024 | |
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| Excerpt of query: | 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 |
| Purchase of silver and gold jewellery transaction and investment limit | |
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| Excerpt of query: | 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. |
| Wedding expenses treatment expenses claim allowed and any limit provision applicable for it purpose | |
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| Excerpt of query: | 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 |
| Disallowance of expenditure on non deduction of TDS u/s 194Q | |
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| Excerpt of query: | 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. |
| it person household expenses or own drawings limit for one financial year | |
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| Excerpt of query: | 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. |
| File an appeal with ITAT when revision Petition is dismissed due to time bar | |
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| Excerpt of query: | 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 |
| 56[2](x) | |
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| Excerpt of query: | Does it apply to Tenancy rights acquired free after ay 17/18 ? |
| Longterm Capital gain tax exemption for purchase of Flat against selling of Shares & Mutual Funds | |
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| Excerpt of query: | 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 DD at the time of registration either in the month of March or April 2025? If yes, can I open a separate Capital Gains Account in any Bank Please clarify at the earliest. With Regards, |
| Income tax appeal before CIT(A) | |
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| Excerpt of query: | 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 |
| tax implications on a retiring partner and partnership firm which has immovable property without having done revaluation or fair market valuation | |
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| Excerpt of query: | what are the tax implications on a retiring partner and the partnership firm when a partner retires from a firm having fixed assets (without revaluation of the fixed assets i.e. land or immovable property or without fair market value of the fixed assets)? |