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Dear Sir, Recently, in July 2025 I sold a residential property and got a LTCG of Rs.25 lakh. I propose to deposit this money in the Long Term Capital Gain Saving Scheme Account for a period of 2 years so that I get time to select and buy another residential property. Here, please clarify what happens or way out if I am not able to buy the new house before the specified 2 years. Thanls and regards.

Hello, My wife received her share of 15 lacs from sale of ancestral property in Aug-2025. She is planning to buy flat probably during Oct-Dec 2026. Do she require to pay capital gain tax while filing return in Jun2025? She do not know purchase price of ancestral property so how capital gain to be calculated in this case?

In the year 2026 from April to March 2027 My pension salary will be 7 lakh & will be getting Doubling NCD 10 lack during October 2026 , kindly give my tax implications on my total incom

I am a chartered accountant in practice since more than 35 years and have a very good library of Income Tax Service Tax and Customs books for citations. However, as now, there is no further person in the family to take up my profession, I would like to Donate all of my library to organisation, persons or groups who may be needing these for future purposes. Can you suggest help in this by getting contact numbers or addresses or mails?

My colleague Monthly salary 1 lakh . Basic in PF account 50,000. Can he increase basic in PF . What is the max. basic for a employ . What are the positive & negative impact in long run.

I am 50 yrs old. I Hhave own car and paying driver salary monthly 20k for office purpose. I am.also getting uniform allowance, driver salary, comminication allowance etc from salary. Annualize salary is closed to 55L which salary regime i would need to select so that minimum tax can I pay?

Hi, i have salary income and one royalty income from books. Can i shown royalty income in other source and which form i have to file at the time of filing of ITR.

Dear Sir, I want advice from Tax Expert Date of deal 20th March 2025. Amount- Rs. 90,00000/- (2 Sellers – 1st party is husband and 2nd party is wife) 1% TDS deducted, 0.5 percent deposited same day in husband(1ST Party) PAN account (Amount:- Rs.45,500/- ,Date:- 20/03/2025) , 0.5 percent could not be deposited in wife (2Nd Party) PAN account due to inactive PAN. Sellers were non cooperative. After so many requests and follow up they linked PAN with Aadhar in Dec 2025 and I have deposited the remaining 0.5 percent along with interest and penalty Amount:- Rs.97825/- , Date:- 14/12/2025 ). After 02 days I received demand notice for 20% TDS + interest + huge penalty (Amount- Rs.9,53,655/-). Question:- I am facing difficulties(20% TDS + interest + huge penalty) due to the seller’s mistake. Despite making multiple requests to have their PAN card activated, their negligence has resulted in ongoing problems for me. Requirements:- I request that the demand of Rs. 9,53,655/- be cancelled, or alternatively, that any applicable penalty be recovered from the seller. The issue arose solely due to the seller’s failure to keep their PAN card active, which caused difficulties in depositing TDS. I have fully complied with all my obligations and repeatedly requested the seller, from time to time, to activate their PAN card; however, the seller did not pay due attention to this matter. Since the lapse was entirely on the seller’s part, I respectfully request that the said demand be cancelled. I kindly request you to please suggest a possible way to resolve this issue.

What is LTCG and how it is applicable in case of mutual fund and proceeds from house sale.

I sold a property In Jan 2025 and Paid full capital gain tax. But now I want to purchase a flat in Goa. Can I ask for refund from income tax department.

Sir, An ancestral property, an agricultural land (coconut garden) located 11 KM away from the nearest municipality will be sold in the near future. The sale proceedings will be shared by 5 siblings in unequal proportions as per previous agreement. There will be a 5% advance payment in one FY followed by the final payment at the time of registration in the next FY. Is the individual shares of sale proceedings taxable? If yes, please give an idea as to how the tax calculation proceeds. If not taxable, how the gain is shown in the tax filing form and do the individuals need to keep declaration copies signed by all siblings as proof of transaction?

Gifting money between brother and sister is not taxed. But do we need to show it while filing IT return?

I have a Life Time Super Pension Policy(ULIPs) of ICICI Prudential with following details: • Sum Assured: 0 (Zero) • Premium paid for 19 years and monthly premium paid INR 2500/- • Current value of the fund is INR 20.38 lakh • I Surrendered policy before one month of policy matured. Is it comes under section 10 (10D) of Income Tax Act 1961. • How much income tax applicable?

Sir, i income tax notice assessment or scrunity notice received reply generated through on AI technology helpfull correct or not correct

I joined my first company in 2021 My basic salary was around 41K My EPF contribution was 1800 one side I checked my EPF passbook, there EPS is getting deducted every month. I wanted to ask since my basic salary was more than 15k but my EPF contribution was 1800 one side (total 3600) 1. Am I eligible for EPS? 2. Will I get pension after retirement?

I will earn a total income of Rs. 12,85,000 from all resources in FY 2026-27. Am I eligible to claim marginal relief in tax for AY 2027-28? If tax liability arises, then how much tax will I have to pay?

Main abhi thekedaar ke under rehkar kaam kr reha hu or pf bhi kat reha hai or sath me iti bhi kr reha hu meri iti krne ke baad mera jo abhi pf kat reha or jo pf number hai usme koi problem to nahi hogi jab me iti krne ke baad kissi dusri company me joining karunga iti certificate k sath

I have a Life Time Super Pension Policy of ICICI Prudential with following details: Sum Assured: 720000 Premium paid from 2007 till date and total premium paid Rs.6,69,000 (Rs.3000 per Month) and maturity in 2027.Current value of the fund is around 21lakhs. My queries are: In case I surrend before maturity or opt for annuity, what is the tax implication?

Sir, I hv filed my returns in time in form itr2. I had some stcg on account of sell of shares n also ltcg on account of sale of property. The tax calculated was paid before 15th Sept 2025 . I am a sr citizen. What is diturbing is, so far I hv not recd any communication from tax deptt. What does it mean? Is my fille gone under scrutiny or it is usual? What should I do, pl advise. Thnx n regards.

My client brought the land in 1965 and guideline value obtained in 2001. He sold the property in September 2024. Is it 115jc applicable or computation at special rate. If any suggestions or computation may welcome.

I am 62 yrs old. Have 3 flats in Mumbai. So I have to pay deemed rent as tax on 1 or 2 flats. Please clarify the law for fy 2025-26. Thanks

Hi Guru, My Mother is 88 years old. Her income from pension and FD interest is expected to be below 12 lakh for FY 25-26. But there is short term capital gain of around 4 lakh. Will she be eligible for Rs. 60 thousand rebate under section 87A. I am not sure if capital gain from equity is part of total income or not while considering this rebate.

Hi I am working in private company also I am doing technical consultancy, the company I am doing technical consultancy is deducting 10% TDS, will this income qualify under sec 44ADA? both my salary and consultancy income is taxable

My son could not file the IT return within due date. Can he file now. Is any penalty have to pay and how much. Regards

I have sold my ancestral dry agri land property of my mother's for more than 100 years. I am a 4th gen beneficiary. Am I liable to pay LTLG. Pl clarify

I am Sr Citizen aged 78 years old Have wife aged 74 years and One Son based in US (US Citizen) and One daughter based in India. I have made a will wherein after my demise the flat will be transferred in name of my wife. The MF and Direct equity will be transferred in name of my Daughter. I have kept Nominee as my daughter for my Demat and Trading account. I have the following questions: 1. How do i make provisions in my that in case my Nominee dies after me the proceeds will go to my Daughter. (My son is not interested as he is US Citizen and will incur additional Tax in case of Inheritance).

I am 43 year I am having 2 Lic policy and 2 sips recently opened should I open terminsurance

Dear Sir.. I sold a residential house for 2.5 crores in year 2022-2023..20 October2023...after indexation the capital gain was 1.5 crores. I bought another home on 22 October 2023 for 3 crores. While filing the return I adjusted this 1.5 crore capital gain under section 54 against the new house which I bought for 3 crores. On 15 October 2024, I sold my shares worth 70 lacs.these were long term. Now I am claiming exemption for this total amount under section 54 F for a house which I had bought less than a year earlier ( although out of 3 crores investment into this new home, I had claimed 1.5 cr exemption under section 54 in previous year).. With my limited knowledge I am fulfilling the conditions of sec 54 and sec 54F and both can be claimed against same property though in my case the assessment years are diff.

I bought a flat for 18 lakh in 2002 and sold it for 1.2 crore in 2025. The indexed cost is around 52 lakh, so my long-term capital gain is over 68 lakh. I plan to retire soon and don't want to buy another house. Will investing 50 lakh in 54EC bonds help me save tax fully? Where should I invest the remaining 18 lakh?

I worked for 5 mths 9 mths in social service org 92 t 98. I resigned and taken pf after resignation. Im 58 self employed. Now my question is can i get partial amount payment after 60 yrs. Whats the procedure and can i plan earler before 60 to submit the revelant document if any

Dear Sir Is Govt discouraging investment in savings schemes as seems in filing ITR through in new regime.? Earlier we use to invest and save money in tax saving scheme like LIC,PPF,EPF etc. to get rebate in income tax. regrds NKGoel

Sir, I would like to invest 50% of my retirement benefits in my wife name as First Applicant and 50% balance in my name as First applicant. We both are filing returns annually and am not looking for tax benefit. My wife is a housewife and want to make her financially strong so that 50% investment will be in her name as Primary Applicant in the 50% investment in my name she will become secondary applicant. I know we will fall under the tax slab applicable ( if applicable ) and may have to have to file Tax Return. Even Currently we file our tax.returns every year. Please can you advise on this idea from a finacial independence point of view for senior citizens. This in my view will be a more secure way thatn the wife remaining as a secondary applicant always. Please advice.

I had bought a house on FY 2011-12 for Rs.35 Lakh and which I sold for Rs.65 Lakh on 30-12-2024. What will be the tax liability after applying indexation?

Its a question related to section 54 claims. My father and I've together bought a flat in Apartment. My father is selling land owned by him to pay the installment for the flat. I've 2 ways to transfer this money to builder 1. I pay the builder via Credit card and then my father pays my credit card bill. 2. Or My father sends the money to my bank account and I transfer this money to builder. Does both these transaction eligible for Section 54? As if we see trail of money, the money is indeed going to the builder

I sold my flat in Bangalore in Apr 2023 and re-invested in another flat at Chennai and registered in Oct 2023. For some personal reasons, I am required to sell this flat registered in Oct 2023. How long should I wait to sell , to avail LTCG tax exemption , is it 2 or 3 years ?

Dear Sir, In my previous association with two company I had withdraw my PF balance during 2010 -11 (1st association 2004 to 2007 & 2nd 2007 to 2008 about nine month). Now, I want to know may I eligible for pension part of above association and if so how can I connect these to my current UAN no so I entitle for pension eligibility after my retirement. Second question is I am trying to transfer a balance of my another association to my current establishment (on line ) the same is rejected with remarks ("Unexempted to unexempted in other region or to exempted establishment") I am not able to understand the remarks and reason. Regards Sanjib

We are 3 brothers (A, B and C) and 1 sister(myself). My father died intestate in 2012 and mother died in 2023. After my mother demise my 2 brothers (A & C) show us Will of my mother in which I and my one brother (B) are evicted. My brother (A) was operating all the bank account, so his mobile number and mail id were registered at bank, he was the nominee also. My 2 brothers (A & C) transferred all the funds of both my parents account to their account and close all bank accounts. I have Succession Certificate. Now when I send mail to bank requesting "Certified Copy of Bank statement", bank is denying to provide it, saying that I am not the nominee and they can send statement to registered mail only. Please guide what should I do?

I am a Senior Citizen. My Tax liability for the FY 2024-25 is Rs. 3,20,000. Whether I have to pay the Tax amount by 31 July, 2025 or I can pay by 15.9.2025 without penal interest

Sir Is interest earned in PPF A/C EXAMPT from income in new tax regime in A. Y. 25-26?

How is the rental income taxed in new tax regime in A.Y. 25-26?

My employer is sharing in Employee Pension Scheme 1250 inr every month . Can i rebate in 80ccd2 in New tax regime FY 2024-2025 AY 2025-2026

Sir, I am planning to gift my son Rs 50 lacs(as part contribution) for purchasing a flat by him. Have 2 questions. Do I have to maintain a record on plain paper about the gift for IT purpose, if needed. Secondly, does my son have to show my gifted amount in his IT return under exempt income section.

Hello, I had purchased a 1200 SFT piece of land during September 1990 and it has been sold on 11 March 2025. What is the quantum of LTCG I need to pay and with indexation and without indexation the percentage may please be advised. Ravi Shankar

Sir, i purchased a flat in 34L in 2016 and sold it in 2025 in 38L. How much tax I need to pay for this sale while submitting ITR in addition to my salary which puts me in 30% bracket? I was joint owner of this flat with my wife( she is not working she manages the home).

Family pension was granted to Mr in July 25 effective from Nov 24. I have received arrears from Nov 24. Shall I show arrears from Nov 24 to Mar 25 as income while filling ITR for FY 2024-25 .Form 26 for FY 2024-25 does not show this income.Kindly guide.

I have invested 2lakh in Infosys shares & holding since last 2 years. I have made a profit of 25k now I want to sell the same. Do I need to pay the capital gain tax of 12.5% on profit??

Sir, we recently sold our Mumbai flat for 1.6 crore. The property is co-owned, but I paid all the EMIs from my account. If the gains are 70 lakh, can we divide it equally between my brother and I to reduce tax liability? Will the income tax department accept this during scrutiny or ITR processing? Pls advise

I am about to sell my flat that i owned for 23 years, which I bought for 5 lakhs and selling now for 30 lakhs. I also co-own a second house with my wife. What would be the Capital Gains Tax I am liable to pay 1) under normal circumstances and 2) under indexation scheme. Thank you.

Sir, I inherited an apartment flat which was invested by my father with a builder and will be receiving handover of the flat on my name now along with final registration in June 2025. Since I dont have any other active income source after early retirement, I wish to sell the flat and clear off my pending loans. Please tell me how I can save on the 20 lakhs short-term capital gain after the immediate sale of this property this year.

My total income is less than 50 LPA (Salary+Interest+Dividends) but I have some 10 units of ESOP stocks listed in US (granted in the previous FY and no ESOP transactions in FY2024-25). Which ITR should I file ?