I have two business, and the business code for both business is "21008-Other services n.e.c.".

In ITR-4, do I need to add two business with same business code or do I need to specify it only once?

Thank you for your kind help.

Assessee has not filed earlier ITR he received notice u/s 133(6) and pointed out the Income has not offered in ITR .ITO has requested to correct the situation by filing ITR u/s 139(8a).
Assesee wants to opt for new tax regime can he opt fo the same

Please help with my queries regarding TDS u/s 194IA on purchase of property

1. first payment made on 1st January (booking amount), then 2nd payment made on 8th january (allotment amount), builder buyer agreement is executed on 15th January, in this case what would be date of agreement/booking to be filled in form 26QB.

2. property purchased by husband and wife (both working), but whole payment is made by the husband to the builder, in this case, TDS compliance is on both or only husband?

3. in case both needs to pay the tds then in form 26QB, in total value of consideration, 1 CR to be filled for each or 2 CR each? i think it should be 1Cr (their share) but still double checking as total value of property is 2 CR.

I am salaried person and regularly filing my income tax return (ITR-I). In the assessment year 21-22 I received the amount of Rs 32,50,822/- as compensation for Compulsory Agri Land Acquisition by govt. However the acquisition body deducted the TDS of Rs 6,50,164/- at the rate of 20% view non submission of Pan Card and I did not get the credit on my pan for that relevant AY 2021-22, further I filed my income tax return for AY 2021-22 showing only salary return and did not claim the compensation and its TDS. Thereafter, after lot of persuasion through my lawyer, recently I got the credit of the TDS of Rs. 6,50,164/- in AY 2021-22 but in mean time my return was processed by CPC and issued intimation order u/sec 143(1). Further I tried to rectify the said return but I was not able to do the same and the IT web portal rejecting the rectification request showing the reason that an additional TDS claimed. Now my question is how to claim the said TDS of Rs. 6,50,164/- of assessment year 2021-22.

Hello Sir,
What would be income tax business code for income earned through proof-reading of books.
Thank you for your guidance.

I have received an email from the Income Tax department citing the above subject error against the ITR filed for AY 2023-2024.

I am shocked to note that the department has referred to a section 80P which is irrelevant and we have not claimed any deductions under this section in our ITR.

How do I resolve this issue?

In Schedule 80P, deduction u/s 80P(2)(e) cannot be claimed on income other than rental income. please solved the query

Dear Sir/Madam, We are Tax Consultancy Firm, have file a Partnership firm IT for the Ass Yr 2023-24 with Loss for a Manufacturing Firm.
Received a Message stating that
"In Schedule 80P, deduction u/s 80P(2)(e) cannot be claimed on income other than rental income."
Please suggest how to resolve
Thanks

1).FIRM NEWLY INCORPORATED IN FY 22-23 HAVING TURNOVER OF 48 LAKH AND ASSESSESS WANT TO FILE RETURN OF INCOME BY SHOWING PROFIT OF RS. 48000 WITHOUT AUDIT , IS IT POSSIBLE AS CASH RECEIPT AND PAYMENT EXCEEDS 5% LIMIT

2) OR IT IS COMPULSORY COVERED BY AUDIT AS SHOWING PROFIT LESS THAN 8% AS PER 44AD??

Sir,
Q.no.1.A Gst registered rice goods taxable and exempted dealer sales turnover rs:185 lacs as per GST portal f.y.22-23
Q.no.2 dealer AIS information download f.y.22-23 dealer show one current bank account show in books and it returns every year.but dealer 2nd savings bank account show in AIS f.y.22-23
Question:
1.dealer net profit rs:9 lacs declared (4 precentage) which clause applicable tax audit.
2.dealer 2nd bank sb account transaction some cash credit and debit loans show in bank statement.2nd bank account transaction show in it returns compulsory.