Dear Sir,

My query is as follows:
Mr A is a salaried person who helps others invest in Mutual funds through the Prudent platform. He received a monthly commission totaling to Rs. 185842/-pa. He doesn't maintain any books of accounts for this.
1) How can we report this income in his ITR? Can we show under commission/agency business without books of accounts? He incurs traveling expenses.
2) which business code is to be selected?

Kindly guide.
Regards,
Suraj

Hi,
My employer had a superannuation fund . Later it was transferred to NPS. Further contribution from employer went into same NPS account. On my retirement as per the rule I bought an annuity pension from the required portion of the NPS corpus through an annuity service provider. My questions :
1. Can I report this pension under salary head in ITR to claim standard deduction?
2. If yes, what should I mention as Employer Name for the same ?

Sir,
A person who registered in GST as a trader and have rental income from residential house property,
then he will be liable to raise a GST invoice on rental income. If not liable to GST invoice then how to show rental income in income tax retrun.

Thankin Yoy

Dear Sir,

I received a notice under Section 147 about a year ago for the 2015-2016 fiscal year for not filing my returns, but I did not respond for an entire year. They sent multiple reminders, but I ignored them based on advice from some people.

Meanwhile, I received the latest proceeding under Section 147 with some penalties a month ago, asking me to submit a response.

Yesterday, I received a notice under Section 271F with a penalty of Rs. 5000/-.

My question is, do I need to pay the amount as per the Section 147 proceedings or the Section 271F notice penalty? In the Income Tax outstanding demand section, I see notices with different amounts.

Please advise.

Thank you.

Sir/s, Namaste


Is it mandate to opt by filing any form for 115BAC for AY2024-25

Suppose X purchased a plot in the year 2008 for Rs 8 Lakh and converted it into stock in trade of his business of Real Estate in the year f.y. 2011-12. Such Plot after conversion is sold in the year f.y. 2023-24. and purchase a new residential house. 54F is applicable from the date of conversion i.e. from 2011-12 or from the date of sale of stock i.e. from 2023-24?

UPI linked personal credit card spend in own shop swipe machine or QR code

A loan or expense?

Resolved and deleted.

If order under 220(6) of income ax act, 1961 is issued regarding approval of stay in CIT(A) and assesse has already paid 20% of outstanding demand
So whether any submission is to made against such order in income tax portal?
Whether such order is to presented against CIT for stay ?

SIR I AM FILLED FORM NO. 10-IEAFOR THE YEAR 2023-24 AND RETURN ITR 4 FILLED, BUT I WANT TO CHANGE TO FILE REVISE RETURN AND OPT NEW TAX REGIME IS IT POSSIBLE