Hi....

In 44ADA professional doctor is 50% taxable and no books of account are required, hence it is mandatory to show 50% amount as expenditure. This is written where.

Thanks

Case:
Assessee bought Berger Paints shares in 1990 in paper form and later he materialized them in 2015.
Now, sold those shares in FY 2023-24 at Rs. 585 per share.

how will we calculate capital gains and tax.

Error Description:
You have filed your income-tax return in form ITR-1. As per TDS details in your Form 26AS, taxes have been deducted under sections 194IA/194IC/194M/194S/194C/194B/194BB/194BA, etc. of the Income-tax Act, 1961. These sections are reflected as (4IA/4IC/94M/94S/94C/94B/4BB/4BA) in Form 26AS. These sections imply heads of income for which form no. ITR-1 is not the appropriate form. Thus, the required schedules for reporting incomes pertaining to said TDS sections are not present in your return of income filed in form no. ITR-1.
HOW TO CLAIM TDS DED U/S 194C and 194A (WHICH ITR FORM TO FILL?)

Invested money with a real estate developer in Sep 2021 by entering into an MOU. However developer failed to launch the project to date and refusing to give back the amount. One of the key partners of the Developer passed away in Nov 2023. Assessee is unable to recover the monies invested. Can the individual claim the amount so invested and lost as Capital Loss. Please note this individual is not in business but invested in individual capacity.

Assesse is central government employee, He made investment as below
LIC - 132745
Home Loan Principle -12744
PPF - 112000
Mutual fund - 12000
Employer Contribution in NPS 80CCD (2) - 98497
Employees Contribution in NPS 80CCD (1) - 68600

Can Assessee claim deduction under 80CCD(1B) - 50000.

A firm was owning a piece of land as capital asset which it converted into stock in trade in FY 2022-23 and then after diversion developed it and sold plots.in FY 2023-24. There are some plots in stock as well. A profit and loss account is drawn up for the business. Business income is duly audited and that will be filled up. The issue is how to report capital gain on converted capital assets into stock and then sold as pl;ots. Whether in the capital gain entry for each plot is to be made in the ITR or a consolidated entry for all plots sold may be made. Please guide.

if i earn 32000 from equity and 21000 from currency FNO and loass of 1 lakh 17000 from FNO trade , am I eligible for short term capital gain tax?

What is the standard Deduction(allowance) allowed in STCG /LTCG FY 23-24 for nil income tax.
Upto what amount tax does not attract and slab there after.?

Dear Experts,
F&o sale amount is above 10 cr but absolutely turnover is below 10 cr.

Is it correct to report sale amount of f&o in other operating revenue of trading A/c.

Also let me know where to report absolute turnover of f&o in trading or p&l A/c

Thanks

I am filling out ITR 3. I have earnings from the stock market (no intraday, no F&O), and some of these are from stock buybacks. Are these earnings (buyback) mandatory to show in the ITR? If yes, how and where should I show them?