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Sir I am having house rental income of Rs.2.80 l per year. Am I to file IT .sir my son who is a NRI having housing rental income of 2.75 lakhs per annum which is rec'd by me for my survival as I do not hany other source of income. 4

a. An apartment in a four in one building was purchased by me on 18/02/1991 at a cost of Rs.2,60,000/- b. All the four owners of the building decided to go for redevelopment and Joint Development agreement was done with a builder on 12/02/2019. c. As per agreement total 6 flats will be constructed of which four for original owners and two for the builder. d. The vacant possession of the building was handed over to builder only during June 2019. e. Building demolition permission was obtained on 5/08/2019 f. New Building approval was given on 9/10/2020. ( The delay was due to Coastal Zone permission and new FSI rule approval ) g. Completion certificate was obtained on 8/3/2023. h. There was nil monetary transaction between owners and builder. i. The builder sold his flats for RS.1.04 crore and Rs.1.02 crores respectively 0n 30th June 2023.(ie.on getting completion certificate) j. Now I propose to sell my flat for 1.125 crore. BASIC DETAILS : I. I have Pension income, Interest from deposits and Dividend income from my Bank’s shares and am a regular IT payer. II. I have two house properties of which the above is one and another is a dilapidated house in a remote village with taxable value of Rs.35/- III. I was showing the house property income of Rs.35/- under ITR2 till assessment year 2020-21. IV. On demolition of the above flat in 2019, I was showing the village property only as self-occupied with NIL income under ITR1. V. This continued till assessment year 2025-26. ( It means for assessment years 2023-24,2024-25 and 2025-26 the reconstructed property was omitted to be shown in IT. The effect on taxation is Rs.11/- per year considering the village property’s taxable value) VI. This year I have shown both the properties as self-occupied in my IT return Advise sought: A. How to ascertain the value of property on the date of completion certificate? B. The property not being alienated, the capital gains should be “NIL” as on 2023. But in 2023-24 IT return it was not brought out. What is course correction for it now? C. What will be the Capital gain on sale of this property now - may be during September?

Can a Gift Deed against receipt of consideration money be considered as a valid gift deed? And also can the consideration money exchanged between the blood siblings be considered as gift under the Indian IT Act?

I had retired on 31st October 2023 at the age of 60 and I didn’t withdraw my money till now assuming that i would earn interest for 3 years post retirement ie till 31st October 2026 . 1. Is my assumption right? 2. Is the interst accrued for 3 years post retirement at the age of 60, non taxable?

Hi. I am a salaried employee in Pune. Before joining this new firm in July 2026, I did some online freelancing work (software consultancy) which fetched me INR 8.5 lakhs, credited directly to my bank account. How much taxable income should I consider for calculating the Advance Tax..? Also what ITR form should I be filling at the end of the year..?

I got EEE IN vit then may be in amrita will allot ECE can i return my advance payment from vit

am having flat in hyderabad which was registered as gift deed in 2009 and if i want to sell the flat on today date the valve may be 75 Lakhs what can be capital gain. Actual cost was 2.2 lakhs in 1986 . As my age is 65 years and i dont want to use for contruction or investment in new flat. How can i save capital gain. Your advise

Which term insurance is better for me? I am a 31 year old male. I am unmarried and plan to marry in the next 1 to 3 years. I plan to have children later and take a home loan in future. My current salary is 24.5 LPA. I already have assets worth more than 10 crore. My family members have lived beyond 75 years. My mother passed away at 40 due to brain stroke. I am considering two plans: Option one cover of 3 crore till age 75 Option two cover of 4 crore till age 65 Which option is better?

Dear Sir/Madam , In my present company I have NPS paid through employer since May 2019. I'm going to have a job change from next month. In my future company, NPS facility is not there. So, Can i apply for closure of NPS and withdraw the whole amount or is it mandatory to keep the account active until the age of 58 by paying some minimum amount yearly?

My ppf A/c with P.O. matured on 01--04-2026. I have withdrawn full amount. How show this in I tax return ITR2?

Sir, I was working with Cholamandalam DBS Finance ltd from Period 2007 to 2009 back than UAN and Aadhar card were not there, i left company and company name changes to Cholamandalm Finvest .... i have my PF number (chennai TAmilnadu), i have tried contacting HR and PF office but both are saying they do not have any details of my account with them, how to proceed / its been long time,...i have tagged seniors of the department finance ministry to no use.

I have retired at 65 years in January 2026. Can I leave my PF money in PF account for three years so that it will earn interest at 8.25% p.a or should I submit Form 19 and withdraw full amount this month or next month. I have another question: my organization has wrongly marked NCP days and written a letter to PF office to correct it. Hence my EPS is on hold on which I should get my arrears for the last seven years, what should I do if this issue is delayed, will NCP days affect my PF final settlement in any way. I have a total service of 11 years 2 months with regard to EPS and 13 years 2 months with regard to PF. Please advice and point me to the exact rule of EPFO on their website with regard to my questions. Please advice. Thank you

Hi team, its been 10 days, awaiting response to the below A simple question, and I would really appreciate an answer in layman terms. I am planning to travel to the US in June. I currently have 5 lakhs in my bank account. Since the market is down, I am considering investing that amount in stocks. Let’s say I buy shares worth 5 lakhs now. Then in July, when I need the money, I sell them: If the value becomes 5.5 lakhs, will I be taxed on the full 5.5 or only on the 50k profit? I assume it’s short-term capital gains tax at 15%? If instead the value drops to 4.5 and I sell at a loss, will I still be taxed? Could you please clarify this? It would really help me plan better. Thanks in advance!

I receive interest income of about Rs.700000/- a year. Can I file Form 15H to avoid TDS in view of NIL tax on income up to .Rs.1200000.

Dear Sir, i have sale my two house on 24.02.2026 i have purchased one house on 23.02.2011 and another one is 2012. 2011 house my purchase cost is 24 lakhs now i have sale it for Rs 31 lakhs. on 2012-13 house purchased on Rs 25 Lakhs and sold for 58 lakhs please inform me what is the LTCG i have to pay and how to avoid LTCG

I am having joint ownership of flat with my wife. Can I take 100% rental income at her name and declare it in Income tax her name only? As I am 30% slab and there is no home loan on that property. Pls suggest

I started my job in 2010Dec, I was in same organisation till 2014Feb with UAN number Later when I started new job in Feb 2014 I received new UAN NUMBER, instead of using old number. In 2023, I raised request to merge my account as per new UAN number, but I got only amount transferred but not the service history. How to get my service history also to be updated to get my calculations right during retirement. Please note, I raised grievance twice with epf office, no use

I want to start a HUF entity with me as Karta and wife and son as members. I want to contribute 5 lacs every year to HUF from my salary acct and then invest in the name of HUF in mutual funds and shares. Please advise me how to open a recognisable HUF entity , open a bank acct and how to deal this funding in tax efficent manner ?Can I open a bank account in Tamilnadu tho I reside and have Adhar card address in another State??

Hi I had taken a HDFC Life Pension Guaranteed Policy in 2020 when I was on NRI status with immediate annuity pay out ROPP (Return of Purchase Price) Option. I had relocated in in 2021 and I have received the annuity pay out every year till date. Now due to some urgent requirement of funds I am thinking of surrendering the policy. Please note there is no sum assured for life in this policy and there is no Maturity Benefit. Could you please advise whether the surrender value will attract Income Tax for the Assessment Year Year 2025-26? If so please advise the current IT regulations and the tax rate applicable.

My daughter is 25 years old and is a permanent resident of Australia. She is planning to apply for Australian citizenship in 2026. By around June 2027, she is expected to become an Australian citizen, at which time she will be required to surrender her Indian passport and Indian citizenship. She is our only child. After she becomes an Australian citizen, will there be any legal complications or restrictions if we add her name as a co-owner to our existing property in India in future? She also intends to apply for an Overseas Citizen of India or OCI card as soon as she is granted Australian citizenship. Kind Regards.

Hello sir I have purchased the resale flat at indirapuram ghaziabad in 19-20, as sale deed its 72lakhs but as the circle rate is high the govt sale rate 77.09lakhs, paid stamp duty of 5.4lakhs on 77.09 lakhs. Now I got income tax notice 131(A). Shall I have to pay tax or not. Why this notice came to me. please answers me in detail.

I earned 3lakh LTCG by sale of MF and shares and lost 120000 by sale of MF and shares during this financial year. How to reduce my tax liability. If Invest in MF or shares can I reduce the liability

My parents name is different on my 10th marksheet and their adhar card and they can't change the name on their aadhar because my sibling has the right name in her marksheet . What should be done . I don't have that much time because my 12th marksheet will also be made with the name as in the 10th marksheet . Please help

Hello Sir My wife age 48 owns a shop in Pune worth 80 lacs bought in August 2024. She wants to sell it this year. What would be the tax applicable? And can we reinvest the amount in order to save tax? Thanks

i invested 18L own money and 6 Lakhs from MTF borrowing in Oct'22 to Oct'23 periods, now 24 Lakhs become 14 Lakhs, 10 Lakhs down, Alklyamine 98 @ 3300, relaxo 135@1083, PVRINOX 87@1865, tatainvest 250@1120,vstindustries 484@429,suntv 160@836,concor 250@860,clean 19@2060,bajajauto 14@11935,AWL 357@432,ATGL 20@1030,ADANIGREEN 20@1975,ADANIENT39@3390,ADANENSOL50@1324,ACC52@2600,COCHINSHIP10@2650,DATAPATTERN 10@3186,GRSE19@2975,MAZDOCK10 @3500,HONDAPOWER 10@4000,TATAELXSI17@7320,VBL30@660,BHARATFORG20@1740. GUILTY TO OVERRIDE WIFE SUGGESTION TO BUY JEWELS FOR DAUGHTER'S 3 YEARS AGO WHEN PF AMOUNT WITHDRAWN 13L, NOW THIS ALSO LOSS AND JEWEL ALSO 2.5 TIMES HIGHER THAN THAT TIME. WRONG DECISION. PLS CORRECT & SUGGEST. AGE 51

In a joint demat acct (in the name of myself,wife and minor son ), if i purchase MFs and shares, with my own contributions, how it will be taxable at the time of sale ? whether in my name or in the name of all 3 of us equally taxed ?

Hi I recently sold my parental inherited property and also my spouse sold her share its 40 years old property we both received 3-6 cr each what should i pay in capital gain tax indexation taken 12.5 % can i invest the received amount in agricultural land and some portion in gold and silver and also can we buy residential property its bit confusion pls help us out

I have term insurance of 1Cr which I took few years back. I pay around 1,100 per month till age of 75 years. I am thinking to increase the cover to 2Cr. Shall I buy another policy of 2Cr (premium payback and critical illness coverage of 10L feature, this is not in existing one) and discontinue the existing one OR get additional 1Cr? Is there any negative impact if I stop the existing one? Please suggest

Hello sir I have purchased the resale flat at indirapuram ghaziabad in 19-20, as sale deed its 72lakhs but as the circle rate is high the govt sale rate 77.09lakhs, paid stamp duty of 5.4lakhs on 77.09 lakhs. Now I got income tax notice 131(A). Shall I have to pay tax or not. Why this notice came to me. please answers me in detail.

Is it possible to obtain a copy of my income tax return AY 2018-19 from the department? Please explain the details.

My Mother wants to sell some of her gold jewelry to cash. .She is 77 and her only source of income is family pension of 40 k/Month . Will she have any tax implication ?

I have filed Income Tax Return for AY 2023-24 by clubbing income of spouse in my income and accordingly claimed credit of TDS on spouse income in Return . In the Return income of spouse and TDS was shown with her PAN at appropriate schedules.However, IT Department did not give credit of TDS of spouse and raised the demand. I submitted grievance to AO explaining the facts of case seeking correction of demand. However, AO mentioned for submission of Rectification application and closed the grievance. Now what I can do.

Dear sir, I am a retired government employee. I wish to use my retirement fund to buy agricultural land and also build a small house there to stay. Expecting 8 to 10 lakhs income from agriculture. What will be tax implications. I am also getting pension Rs.3.5 lakhs per year.

Is it possible to get TDS refund now on income earned through Online games?

I am retiring on 22 March 2026, now can I withdraw full PF amount for buying a house

I have two questions on one scenarios. I have invested 10 L in say XYZ Largecap MF and current value shows 14L, now if I move this entire amount to same XYZ Debt fund without withdrawing money, will I need to pay LTCG tax on the 4L profit? Second scenario: Now the XYZ Debt fund shows investment value as 14L and I continue it for next 10 years and invest 10L more. Now it shows investment as 24L and total value say 30L. If I withdraw now, do I need to pay LTCG on 6L profit or 6L plus previous profit of 4L also? Hope I am able to clearly articulate my questions.

Dear Sir, in our society we have done major repair and color work. We are not a GST registered society. So our contractor have charged GST to us and submitted it as B2C. We are asking them to provide the details of GST paid to GST authorities OR the at least confirmation with evidence that he has declared these invoices in GST portal while filing GST return. But he is saying there are no such details available on GST portal. We need your guidance on this how can we get those details. Currently we are holding contractor's money for these details.

Can I claim both HRA and home loan benefits if I own a flat in another city?" I own a 1BHK flat in Jaipur, which is rented out, and I work in Hyderabad, paying 25,000 as rent. My annual salary is 16 lakh. I claim interest on home loan under Section 24 and also want to claim HRA exemption. Is this allowed under current income tax rules, or will one claim cancel out the other? How can I maximise deductions legally?

If I wish to exit out of DSP midcap and shift to Motilal Oswal midcap fund (due to better performance), how can I do it? Even if I do it immediately - I would need to pay LTCG? The fund is more than 3 years old, and is around 5 lakh rupees. I am getting 20% returns, but market conditions show that Motilal is giving approx. 35%. Is it ok to do this given the tax considerations?

Dear Mr. Khurana, I hope you are doing well. I am seeking your advice on how best to invest ₹5 lakh per month for the next five years, with the goal of purchasing a house at the end of this period. Given your expertise and experience, I would greatly appreciate your guidance on the most suitable investment options or strategy to ensure both safety and reasonable growth over this short-to-medium-term horizon. Looking forward to your valuable insights.

My mother 75 years old , sold a commercial plot of Rs. 1715000/- in May 2025. It was purchased by her in 2005 costing Rs. 700000/- from Govt in installments. My question is how much income tax is payable through indexation cost.

I am writing to request clarification regarding my HDFC Life Savings Plan, which I purchased in July 2024 with a premium payment of Rs. 3,00,000/-. Due to financial constraints, I was unable to continue paying the premiums this year, and the policy has now lapsed. I would like to know whether I am eligible to receive any refund, surrender value, or any balance amount from the policy as per the policy terms and conditions.

Hi , I opened Forex and local currency Fixed deposit account in Indian Bank in Bharuch Gujarat in late 90s. I found copies of some in my records. I found their e mail on internet and sent them mail requesting ways to reactivate the accounts. It seems Indian Bank had merged with some other banks. In any case I received no response. What do I do next ?

If my mom took got allotted some shares from her son in law firm 20 years ago and now by selling sharing there is a capital gain, offcourse capital gain will be paid by my mom but how to return that money to son in law ? If it's send to unrelated person then unrelated person will have to pay tax or my mom..also isn't it bettwer to send money to blood relativ..

I plan to sell SGB bond issued in Dec 2023 in secondary market. The capital gains coming out of this sale will be invested in a residential property. I plan to claim exemption form LTCG under SECTION 54F. Is there any issue with this approach?

LEFT THE COMPANY BEFORE TWO MONTHS STILL UNABLE TO SUBMIT EXIT DETAILS IN PF ON LINE PORTAL

How to save tax on indian non listed company exercised Esop.

I worked as a medical representative in Nicholas piramal India limited from 1992 to 2006.i didn't take my PF after resigning from there in 2006.Now is it possible to get it.

I freelance across India, earn 12-14 lakh annually. How should I handle GST and income tax filings? I don't have a fixed office and I mostly work from my parents' home in Chandigarh. Do I need GST registration across states? Also, should I pay advance tax quarterly or opt for presumptive taxation? What's the smartest way to reduce tax and stay compliant?

Is LTA tax-free if I travel abroad or book via a travel website? My company offers LTA as part of my CTC, and I booked a family trip through an online portal. Can I claim tax exemption if the travel was within India but booked online? What if I had taken an overseas trip?