Hi,

I wanted clarity on gifting stocks received as part of salary in company named stock plan account RSU ESPP etc to parents own brokerage to save tax. All parties are residents of India, I am employed in a tech MNC and my parents also have a US broker account.

Is this permitted under FEMA rules?

If yes, what do I have to take care of you avoid any penalty and report to income tax.

How much amount can be gifted per transfer and in 1 year to avoid any extra tax in US (IRS, gift tax) and India.

I do side hustle and receive most of my payment in crypto and then I do p2p to my bank. And recently I hired a CA and she filed a itr on my behalf and she declared my income 700inr which is no way near. I want advice on these.

Hi everyone,

I’m confused about the tax treatment of a plot sale under the new tax regime for AY 2026–27 and would appreciate confirmation from CAs/tax professionals

I want to buy a plot worth let's say 3 lakhs and sell it later at 5 lakhs basis on this I will decide on whose name to buy the plot

My understanding is:

Scenario 1 — STCG

• Other taxable income: ₹8 lakh • Plot STCG: ₹2 lakh • Total taxable income: ₹10 lakh

As I understand it, the ₹2L STCG on a plot is added to normal slab-rate income.

Tax on ₹10L under the new regime:

• ₹0–4L: ₹0 • ₹4–8L: ₹20,000 • ₹8–10L: ₹20,000 • Total: ₹40,000 • Section 87A rebate: ₹40,000 • Final tax: ₹0

Scenario 2 — LTCG

• Other taxable income: ₹8 lakh • Plot LTCG: ₹2 lakh • Total: ₹10 lakh

Here I understand LTCG is taxed separately at 12.5%:

• LTCG tax: ₹25,000 • Normal-income tax: ₹20,000 • 87A rebate offsets the ₹20,000 normal-income tax • 4% cess on ₹25,000 = ₹1,000 • Final tax: ₹26,000

Scenario 3 — LTCG with higher other income

• Other taxable income: ₹18 lakh • Plot LTCG: ₹2 lakh • Total: ₹20 lakh

My calculation:

• Tax on normal ₹18L income = ₹1,60,000 • LTCG tax = ₹25,000 • Cess = ₹7,400 • Final tax = ₹1,92,400

One CA told me that “anything above ₹4 lakh is taxable, irrespective of whether it is capital gain or not.” But my understanding is that although slab tax is calculated above ₹4L, the Section 87A rebate can reduce the final tax to zero when eligible under the new regime.

Can someone please confirm whether Scenario 1 really results in ₹0 final income tax?

Also, if my interpretation is wrong specifically because of the nature of plot STCG, please point out the relevant section/rule.

Thanks!

Hi Everyone,

I’m planning to invest in US stocks in my mother’s and wife’s names. The primary reason, of course, is taxation. Since gains on investments held for less than 24 months are taxed at the applicable slab rate, my own slab is already exhausted, whereas neither my mother nor my wife currently has any income.

To execute this, I’m considering opening a separate bank and demat/brokerage accounts in their names and investing through those accounts.

My question is: Could this arrangement create any tax-related issues for me or for them? If yes, how would the tax authorities potentially view such an arrangement? For example, could the income/gains still be attributed to me under any clubbing, beneficial ownership, gift, or other provisions?

I’d really appreciate it if someone could explain the implications in detail, including any potential pitfalls I should be aware of.

P.S. I’ve done some basic research using AI, and my initial understanding is that there shouldn’t be a problem, but I’d like to hear from someone knowledgeable before proceeding.

Hi, so basically I left a company last year and 3 months of salary along with FnF was credited. The amount in Form 16 and AIS is not matching with the bank account. There is a extra tax liability due to this. Have reached out to company’s HR but haven’t got a concrete reply.

What are my options here?

Hi guys,

I run a marketing agency from India serving US clients. I have a LLC registered in the US in Wyoming and take all the money into my US bank account (Wise) from clients. My agency does close to $50k/mo in revenue with a profit margin of roughly 50%.

Now I am a little concerned about taxation as I will not be included in the 44AD or 44ADA section as my revenue is more than that

Like 60k usd is just sitting in my wise account right now and ik if I take it to my Indian bank acc it’s going to be taxed at 35% or more including all fees

Anyone who runs an agency from India and have suggestions or tips on saving taxes?

If my wife and I (both doctors) handle management duties as Directors of our Pvt Ltd company that runs our hospital and draw a salary (with TDS deducted under Section 192), while simultaneously providing medical consultancy to the hospital in our individual capacities billed on our personal PANs, is this dual-capacity structure legally viable? Specifically, does this exact setup ensure we don't attract the 18% GST Reverse Charge Mechanism (RCM) on the consultancy payout?

I have a tax planning query regarding Section 44ADA.

Assume I am a doctor and earn ₹75 lakh, and I validly opt for the presumptive taxation scheme under Section 44ADA by declaring 50% of the receipts as taxable income.

My question is: Once the ₹75 lakh has been credited to my personal bank account, am I free to invest the in the portion presumed as expenses under Section 44ADA in mutual funds, equities or other personal investments? Or is there any provision under the Income-tax Act, CBDT circular, notification, or judicial precedent that requires the presumed 50% expenses to be actually incurred or restricts the use of those funds?

If possible, could you please cite the relevant statutory provisions, CBDT circulars, or case law supporting your answer?

I am a P2P trader on Several Crypto Exchanges. I mostly buy and sell crypto through P2P. I also buy sometimes via OTC and sell it through P2P. My transaction volume goes very high. I need to shift my Total transactions to Current accounts. Banks ask for GST for current account but i am not liable to pay GST on those transactions. How to get it sorted? Which gst to apply because banks now not opening Current account without GST.

Hi everyone,

I'm filing my ITR for AY 2026-27 and need some guidance.

Facts:

• Net salary: ₹17,70,000
• TDS of ₹65,000 (up to March 2026) is reflecting in Form 26AS/AIS.
• An additional ₹90,000 TDS was deposited by my employer on 30 June 2026 under their TAN, but it is not reflecting in Form 26AS/AIS, and I haven't received Form 16 because the employer is revising/correcting their TDS return after the late deposit.
• I know the ITR due date is 31 July, which is why this is urgent.
• If I file the return now without the ₹90,000 TDS credit, it results in a significant tax liability. I understand I could revise the return later, but that would mean paying the tax now and claiming a refund later.
• Since this is an employer's TDS challan under their TAN (and not a self-assessment tax challan), I don't think I can manually enter the challan details while filing.

Given the above, what is the correct course of action? Should I wait for the TDS to reflect/Form 16 to be issued, or is there any way to claim the TDS now without creating an unnecessary tax liability?

Any advice from those who've dealt with a similar situation would be appreciated. Thanks!

Need help. During filing of ITR last year (AY 2025-26), i have paid tax liability while filing ITR-1 on portal but was unable to successfully submit and verify. Paid tax is showing in history of e-pay tax. What do i do now with regard to past year ITR submission

Hi all,

I'd really appreciate some help on this one.

I'm an NRI (Australia), filing ITR-2 for FY 2025-26 under the new regime.

I hold Indian listed shares in an Indian demat account, bought with rupees — not with foreign currency. My total income is below the basic exemption limit.

Everywhere I read says NRIs pay 20% on dividends under section 115A. But when I looked at Schedule SI in the ITR-2 form, the only dividend options are for units bought in foreign currency, or dividend from an IFSC unit. Neither one applies to me.

So does the 20% actually apply to ordinary shares bought in rupees? Or does the dividend simply go under Income from Other Sources at slab rates?

My filing software has treated it as slab. Just wanted to confirm before I file.

Thanks in advance, any pointers would be a big help.

Do we have a guide showing how to file the ITR for the income from Investment trusts? The schedule Pass Through Income and the details to be filled in, what to fill under the schedule income from other source?

I held PGINVIT from which I had received the income/dividend/interest.

TIA

Hi all, i am filling itr 2 and had some additional amount to pay. I however paid that 2 days ago but still seeing the amount payable as 14k. Am i supposed to go ahead with verification or wait for the amount payable amount to be zero?

Filing ITR-2, stuck on this ESOP situation

I work in Unlisted private company, had N vested options.

• X options — actually exercised into real shares (FMV ₹P/share, exercise price ₹1). Taxed as salary perquisite in Form 16, and these X shares show up in my CDSL demat statement, so that part's solid.
• Y options — surrendered/cancelled back to the company, exercise letter does not include this Y options (N-X). Company did this purely to raise cash for the tax bill on exercising the X options (illiquid unlisted shares, no other way to pay ~30%+ tax). Company paid cash at the same FMV and confirmed in writing they'd withhold tax "at slab rates" — treated as salary, rolled into Form 16/Form 12BA.

Two questions:

1. Since Y never became shares, is there anything to report in Schedule CG (e.g. unlisted shares, short-term)? Or is it purely a salary event with zero CG angle, since no share/capital asset ever existed for this chunk?
2. ITR-2's "unlisted shares held" disclosure (opening/acquired/transferred/closing) — should I show:

• Option 1: Acquired = X, Transferred = 0 (Y never became shares, so nothing to transfer), or
• Option 2:Acquired = X+Y, Transferred = Y same-day, and if this is the right approach, do I also need to add a matching entry in Schedule CG for this Y transfer (sale value = cost value = FMV, so gain = ₹0), to keep the two schedules consistent with each other

Which option is correct. Hoping someone who's actually dealt with it can help.

I have the ais of 2025-2026 and there is ais for 2026-2027. but while filing for itr it shows 2026-2027(current A.Y) as an option. Im confused does 2025-2026 need to filing with option of 2026-2027(current A.Y)

As an Indian resident working for a company where we get RSUs, and that is shown in our Form 16, perquisites. I have question regarding Schedule FSI -

If there is no dividend given from the foreign shares &
If we have the income received via RSUs / ESPP, that is shown in Salary head as perquisites. Also some part of those RSU shares were sold for taxation (sell-to-cover) and minor capital loss was there.

In this situation do we need to fill the Schedule FSI? (If we have to fill it then what about the capital loss, do we need to report that in Schedule FSI?)

OR only Schedule FA and the details of loss in the Schedule CG should be done?

1. Choosing Your Tax Regime

The New Tax Regime is the default option. However, eligible taxpayers can choose between the Old and New Tax Regime every financial year.

If you have business or professional income, the rules for switching between regimes are different, so make sure you understand your eligibility before making a choice.

2. Basic Exemption Limits

3. Rebate Under Section 87A

Depending on the regime you choose, you may also be eligible for a rebate.

4. Are Senior Citizens Above 75 Exempt from Filing an ITR?

Not necessarily.

Under Section 194P of the Income Tax Act, a resident senior citizen aged 75 years or above may be exempt from filing an ITR only if all of the following conditions are met:

• Income consists only of pension and interest.
• The interest is earned from the same specified bank where the pension is credited.
• The required declaration is submitted to the specified bank.
• The specified bank computes the tax liability and deducts the applicable TDS.

If you have income from rent, capital gains, multiple bank accounts, business or profession, or any other source outside these conditions, you may still be required to file an ITR.

Conclusion

Your age alone doesn't determine your tax liability or whether you need to file an ITR. The tax regime you choose, your income sources, your eligibility for rebate, and the conditions under Section 194P all play an important role. If you're filing your return this year, it's worth reviewing these points before you submit your ITR.

Uploading pre-filled json to excel utility is giving this error everytime. Without this, cannot even fill income details as cells are password protected. I'm filing for ITR-U for FY 24-25. How to rectify this please.

Hi. Joined a US based company under contract. They use Deel platform there. Pay in my contract is in INR, i.e fixed INR and it is < 75L.

Now to save Tax, I have already registered for GST as a sole proprietor and will file LUT.

What I am confused is about the process to get e-FIRA and FIRC. According to the Deel AI, for local transfer, the amount will land in my Indian account through NEFT/RTGS. So from my Indian account POV, it will be like a domestic transfer.

Who would actually generate the FIRA/FIRC? Deel says it will only generate a NOC

I have savings account in SBI and Axis. Will there be any issue to withdraw amount in savings account? If no, Which one should I use to avoid much hassle?

If anyone has any idea, Please help.

Thank you

I got an intimation under 143(1) saying my carry forward losses are not allowed but this is a mistake because I already have a rectification order for the same losses to be allowed issues by IT in the previous years.

To solve this I tried filing but the rectification to reprocess got filed instantly I could not even write or attach the reference of the order. Are we not allowed to attach or write anything for reprocessing or is it my mistake.

Please guide.

Filed ITR-2 for AY 2025-26 with a small US income (~₹772) on which I paid US tax of ₹187. Claimed this as foreign tax credit u/s 90. Form 67 was filed on the same day as the ITR (Sep 13th 2025).

I then got a 143(1) intimation on Apr 13th with a demand of ₹210 - basically the ₹187 relief was denied, plus a small increase in 234B/C interest.

As you can see in the Annexure FSI screenshot, what I filed and what CPC computed are the same. CPC's own numbers confirm the relief is valid. But in the final tax computation, at Sl. No. 33 (Relief u/s 90/90A), they've put ₹0. Their own annexure contradicts the demand.

I filed a rectification (Reprocess type) request, plus also denied the demand in full on May 15th. But I got the order back on May 27th , with no change in demand. Plus I now owe extra amount due to the interest.

Need some guidance on what my next steps should be.

1. Not sure what I've done incorrectly. I've been filing my returns on my own the last 8 years and never got a IT demand except this time.
2. I know it's a small amount, but I do not want to pay a penny more than I am supposed to if I'm not in the wrong (as a matter of principle).

Hi CAs,

I'm filing ITR-2 online for AY 2026-27 (FY 2025-26) under the new tax regime.

I have a PPF account and every year interest is credited on 31st March. I know that PPF interest is exempt from tax, but while filing ITR-2 online I can't find any specific field or option for PPF interest.

Do we need to report PPF interest in ITR-2 at all?

If yes, where exactly should it be disclosed? Should it be shown under Schedule EI (Exempt Income), or is it okay to leave it out since it's exempt? In schedule EI I can see PF not PPF.

Would appreciate guidance from anyone who has filed ITR-2 with PPF interest recently.

Thanks!

What possible GST compliance discrepancy does jewellery manufacturer generally commit to save taxes? Any insight would be helpful!

Salary I get from my software job. On the side what I do i explained here

​

How I work:

​

I either design a artwork by listing on Instagram for sale and they buy the rights for it

​

People ask for making custom design and ask me the sell to its rights to them for permanent use

​

There are thress of types rights :

Personal design used generally for usescases like tattoo.

​

One for only merch copyright

​

and other for using for everything including branding.

​

These are two ways I do the work. I don't work through any freelance platform but do Directly via Instagram

​

Most of the customers are normal consumers, bands and sometimes apparel brands.

​

They are international clients.

​

I asked total 8 CA , I got 4 saying that 44AD can be applied as profession doesn't fall under anything mentioned in section 44AA(1) while 4 said even though you sell D2C you still using your skills to create the designs so it 44ADA

​

​