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| TDS on property | |
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| Excerpt of query: | Form 26QB correction return to be submitted. I have a query regarding tax payment. Additional tax along with Interest, is payable. Please provide me process for the payment of tax and incorporate in correction return. |
| Inoperative PAN of Seller – TDS on sale of property | |
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| Excerpt of query: | My client has purchased a property of Rs. 51,00,000 in December 2023. He deducted tax of Rs.51,000. On making TDS challan payment he found that the seller’s PAN is inoperative. He was requesting the seller to get his PAN Operative. Seller’s PAN was made operative in July 2025. My client has paid TDS on property of Rs.51,000 (1%) on 16-7-25 and got TDS default demand @ 20% along with huge interest. What is the remedy to save this TDS demand and interest? |
| Transfer of HUF’s immovable Property | |
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| Excerpt of query: | Karta of the HUF wants to transfer the immovable property in the name of one of the co-parcener. under which instrument it can be transferred and what will be the stamp duty in Mumbai |
| Partner’s Remuneration | |
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| Excerpt of query: | In a partnership Firm Partners remuneration was quantified in partnership Deed, but yearly remuneration was finalised on the basis of partner’s performance in that year, which will be less than remuneration as per Partnership deed and remuneration is different for all partners. whether it is acceptable in income tax U/s 40(b). If not provide case laws . |
| in Scrutiny reaction of AO on non deposit of tax | |
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| Excerpt of query: | Tax deducted on sale of property, but not deposited in government treasury by Assessee, now case was selected in Scrutiny. How AO will get this information and how he will react on this. |
| Netting off Creditors with Debtors | |
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| Excerpt of query: | sir, We Have Come To A Situation Where The Client Has Raised The GST Invoices And Purchased The Goods From The Same Party Which Was Reflecting As Purchase And Sales In One Side. On The Other Side, There Was No Cash/ Bank Transactions Involved For Such Purchases And Sales Made Whereas It Was Adjusted By A Journal By Netting Of Creditors With Debtors. Is It Allowed As Per The Accounting Standards? And In The Other Case, Creditor’s “A” Balance Of Rs. 1,00,000 Has Been Adjusted With The Debtors “B” By Posting A Journal Entry Which Impacts Understatement Of Assets And Liabilities By Rs. 1,00,000. “A” And “B” Are The Not The Same Person. |
| ADDITIONAL INT. @ 3% U/S 244A(1A) | |
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| Excerpt of query: | Kindly clarify whether for the entitlement of awarding 3% additional interest under section 244A(1A) in a case existence of passed finally appeal or revision order effect of which is involved must be of the same assessee and for the same asst. yr. Can it not be given in other similar facts of the case under section 158A(5) ? |
| Professionals taxation | |
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| Excerpt of query: | sir, Whether A Professional Can Report Income Less Than 50% Of Gross Receipts In Their Income-Tax Return If They Maintain Proper Books Of Account And Without Tax Audit Report |
| 54F | |
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| Excerpt of query: | A has made payments for a flat during the year under ref ; but agreement was made more than 2 years before the said year; can A claim exemption u/s 54F ? any case law ? |
| is Section 56(2)(x) applicable in this moot problem ? | |
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