Javed Memon
08 July 2024 at 19:53

Agriculture Income Show in ITR

Person is farmer he has fixed deposits ( 11 Lakh Rs. ) in bank and TDS Deducted on Interest income

My question is Agriculture income is Exempt income So if i only Show interest (interest on deposits ) income
in ITR and Skip agriculture income (Because of Exempt Income ) then this is correct way of showing income of farmer or i need to Show Agriclture income in ITR


Priya
08 July 2024 at 19:30

Dividend Income error

I have F&O profit which I mentioned in ITR3 "Trading Account"
I also have dividend income which I mentioned in Schedule OS

When I try to submit the json online, it gives me this message:
"In Schedule OS/ Schedule El, the amount of dividend income mentioned is cannot be more than the dividend income reduced from Schedule BP."
"Kindly ensure that dividend income mentioned in schedule OS or schedule El should be equal to dividend income reduced from Schedule BP."

Is it mandatory to include the dividend income in "Profit and Loss" 14 (iii) and Schedule BP A3?

I didn't have to do it last year.

Should I do the same for interest income?
Although there is no such error for interest income.


Chemistry E learning
08 July 2024 at 19:25

Which ITR and how to fill

I have income from salary (government service). I have sold one plot in January 2024 and capital gain of 41 lakh invested in capital gain bonds in July 2024. Which ITR, I need to fill and how to show it


SIDDHARTH MAHESHKUMAR SHAH
08 July 2024 at 18:40

TDS Deduction Under Section 194Q

Please Guide: TDS Under Section 194Q:

Threshold limit for TDS Deduction Under Section 194Q is 50 Lacs.
1. 50 Lacs to be considered is basic amount or total bill amount with GST?
2. TDS to be deducted on balance amount exceeding 50 Lacs once 50 Lacs limit is crossed or on
total purchase amount.
3. If there are transactions of sales and purchase from same party then when to consider the 50
lacs threshold limit (Total of sales & purchase both) or only purchase amount.


Suresh S. Tejwani
08 July 2024 at 18:25

Regarding Income Tax Return u/s44AE

Person 'A' has 6 vehicles & gross receipts is more than 1 crore. Can we file IT return u/s 44AE or do tax-audit?


Priya
08 July 2024 at 17:46

Adjustment in Schedule CFL

Hi,

Does anyone know what "Amount as adjusted on account of taxation u/s 115BAC(1A)" is about in Schedule CFL?

I have F&O loss brought forward from last assessment year (old regime) that I want to offset with F&O profit this assessment year (new regime).

Can I leave that column blank?


D.P.KAPOOR
08 July 2024 at 15:43

Health insurance rebate

स्वयं, पत्नी और बच्चे के लिए पति द्वारा भुगतान किए गए स्वास्थ्य बीमा पर पत्नी छूट का दावा कर सकती है The main policy holder is husband , amt paid by husband . Self , wife and children covered the same policy.


jayesh khokhariya
08 July 2024 at 14:57

Rent income taxability

1) Father holding commercial property earning rental income paying higher tax due to huge rent
no he is planning to gift some portion of property among family member and want to distribute rental income among family member is that possible then how??

2) which document we need to prepare ??


Suresh S. Tejwani
08 July 2024 at 12:17

Regarding IT TDS Liability

Land owner is "A", construction on it is done by "B".After the completion of construction, A's share is purchased by "B" & payment of same is below 50lakhs.

Does it attracts any TDS deduction liability on part of "B"?


Proloy Samaradivakera
08 July 2024 at 11:51

Coverage under tax exemption limits

Does the basic tax exemption limits (slabs) cover taxes under special rate ? Do you have to pay tax if your basic income is 50000 and LTCG income is 120000 , wherein the LTCG taxable is Rs 20000/- @ 10% (Rs 2000 tax).






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