Dear Experts,

My friends and I worked as a group, We received money in my personal account via paypal. We shared the money among us. What ITR should be filed for myself in this case? P.S: I haven't paid any advance taxes yet.

Also, please let me know under which section I can show my expenses (like salary, investments) or how do I calculate the taxable income

The legal heir has filled IT Return ONLINE of deceased father after registering as representative of assesse as legal heir. All bank accounts previously registered with IT of deceased father has been closed by Bank. The Bank account of legal heir is not being accepted for refund by IT dept online as the bank account of legal heir has no reference of PAN of deceased. How to get the refund and which bank account will be utilised.

I have purchased ELSS in mar 2017 and lock in was upto March 2020. In April 2022 i redeemed some of its unit...then short term capital gain or LOng term capital gain will be levied?

A housing society is claiming deduction under sec 80p(2)(d) of interest received from investment in co-operative society . Society has also received interest from saving account maintained in other op-operative society. But housing society is claiming deduction only in respect of interest from investment in co-operative society by declaring in income from other source head
Interest from FDR In Other Co-operative Society 50000
Interest From Saving Account maintained in other Co-operative Society - 15000

I am claiming deduction under section 80P(2)(d) of amount Rs. 50000

Error : In Schedule 80P, the amount in Sl. No. (11) amount eligible for deduction should not be more than sum of Sl. No. 1(a)+1(bii) of Schedule OS + 5(ii) and 5(xiii) of Schedule BFLA subject to interest and dividend declared in Schedule P&L.;#;Kindly restrict The amount eligible For deduction mentioned in Sl. No. (11) of Schedule 80P to the sum of amount mentioned in field dividend gross and Interest from Deposits (Bank/ Post Office/ Co-operative Society) i.e Sl. No. 1(a) + 1(bii) of Schedule OS+ 5(ii) and 5xiii of Schedule BFLA subject to interest and dividend declared in Schedule P&L

My client had been opting 44AD from 17-18 financial year for his income tax filing. Can he opt out from 44AD scheme for his 22-23 FY income tax filing? Does this five year rule of consecutive 44AD filing includes the first year of 44AD filing ie 17-18 FY? Or this five year consecutive 44AD filing range from 18-19 FY to 22-23 FY? Experts please advice.

10 lack receipt cash se hai aur 5 lacks banking se total profit 110k hai ab uska ration 7.33 araha hai ye 8 percentage ke neeche ja raha hai notice a sakta hai 10 lack ka 8% profit 80000 aur 5 lacks 30000
Total profit 110k but sir total ratio 7.33 araha hai please explain

Dear Experts,

In one of the case, Housing loan is repaid entirely. Can this be considered as repayment of housing loan eligible for deduction under Section 80C

Regards,

DEAR SIR,

ONE OF MY CLIENT SOLD AGRICULTURAL LAND IN PREVIOUS YEAR THE LAND WAS PURCHASED IN THUC YEAR OF 2000 WORTH OF RS. 6,00,000/- LAKH RUPEES NOW THE LAND SOLD WORTH OF RS. 50,00,000/- NOW MY QUERY IS SALE OF AGRICULTURAL LAND IS EXEMPT INCOME AS PER IT ACT. THE ASSESSEE IS HOUSEWIFE HIS HUSBAND IS FARMER BUT GOVT EMPLOYEE AND HE PURCHASED LAND IN HIS WIFE NAME AND ALSO THEY PURCHASED AGRICULTURAL LAND WORTH OF RS. 7,00,000/- REMAINING AMOUNT DEPOSITED IN SB ACCOUNT.

NOW HOW FILE IT RETURNS CAN WE FILE THE INCOME FROM SALE OF AGRI LAND TREATED AS EXEMPT INCOME BECAUSE THE ASSESSEE HAS NO OTHER INCOME.

THANK YOU

Hello Sir
I have income from commission (LIC) and some nominal short term capital gain from share market for which i filled ITR 3, and filled no account case, but while submitting the return is was showing error as Balance sheet is mandatory to fill if income above 2.5 lakh.
please help to resolve the issue

Dear Sir,
Tax payable Rs. 16000 while filing Itr-1
My query is any option is available to file itr1 with zero tax liability and no risk in future or should it pay Rs. 16000?
What will be the best please guide me....
Thanks in advance..