Dear Sir,

Mr A is having professional income from the profession as specified u/s 44ADA. He also does F&O trading.

Since AY 2019-20, he has been showing F&O transactions u/s 44AD, declaring 6% of turnover as profit from F&O even though he is actually incurring losses. He earns Rs. 8 lakhs from professional activities.

Now, after 7 assessment years, from AY 2026-27, he wants to show actual losses from F&O activities. Can he opt out of Section 44AD without the applicability of audit?

Kindly guide.

Regards,
Suraj

Whether TDS applicable on business support services ?
if yes then under which section and rate?
HSN code : 00440366

Is an individual having turnover of more than 1 CR in previous year, but assessed under presumptive income scheme, and not subject to tax audit, required to deduct tax on various payments made by him?

Whether TDS on business Support Services applicable or not?
if Yes then under which section and rate?
HSN code : 00440366

New copyright TDS software purchased for one year licence. Is tds applicable, if yes under which sec. And whate rate.

What should be the appropriate course of action in this case, as per books closure and the Income Tax Act, 1961, where our ledger reflects a credit balance of ₹1.92 lakhs while the party’s records show a nil balance? Additionally, we are holding stock worth ₹2 lakhs on behalf of the party.

IF REMUNERATION IS BEING PAID TO A DIRECTOR IN PRIVATE LTD AND NEITHER PF IS DEDUCTED NOR ANY PROFESSIONAL TAX IS PAID THEN UNDER WHICH SECTION TDS SHOULD BE DEDUCTED SEC 192 OR 194J?

Sit.
One of my friend has a property in cochin, she has plan sell property her distant relative 1.1 Cross to 1.25 Cross.
Currently market value is 1.5 Cross.
Let's me know, whether ,it make any problem to sell her distant family member to 1.1 Cross said property.
Please advise

Raw space ( vacant floor ) taken for exhibition purpose. Paid consideration to exhibition organiser Rs. 5 Lac.

Tds under which sec. For F. Y 25 - 26 applicable & what rate.

Who is responsible for filing Form 26A in cases of non-deduction of TDS, and is such filing required only upon receipt of a notice from the Income Tax Department, or can it be submitted voluntarily by the deductor?

Is Form 26A applicable for non-deduction of TDS on interest and remuneration paid to partners by a partnership firm?