Hi
Client had a business (F&O) loss in AY 2022-23 and carried forward that loss and had filed under old regime. However in AY 2023-24 he does not have any business income only business (F&O) loss of previous year and salary for this year.
The new regime is beneficial in AY 2023-24, do we need to file form 10IE if there is the following income
1. Salary
2. Capital Gain (Shares)
3. F&O loss to be carried forward from last year

Hey , Can anyone help me in this query, A proprietor sold Jeep on 28th Feb ,2023 for Rs. 85000/- WDV value as on 1st April,2022- Rs. 114120/- (Jeep is only used for business). Pls tell me the accounting treatment of sale & depreciation and how to give effect under income tax. Its Urgent...

Salary was paid as lay off to an it professional,but no TDS was deducted for the same.Can we claim deduction under Sec 10(10B)

While filing for income tax, can the NRI give his/ her overseas address in the tax form?
Are there any implications of the same?

Dear Experts
Good Morning.

In the FY 22-23, I had approximately 89 lakhs profit including intraday/short-long term gains.

In this same year I bought a flat for approximately 77 lakhs (inclusive of all regn and service charges etc.) and in addition I spent around 4 lakhs for furniture etc. - a total 81 lakhs spent.

Whether I could adjust the above 89 lakh profit gains to the flat purchase/furniture amount of 81 lakhs - to avail the tax adjustments.

Tour response will be highly appreciated and surely helpful to me.
Thanks with regards

GK

Sir,

In payslip LTA provided by employer can I claim it on IT?

Exmpl : Ram got LTA in payslip Rs. 3000/- (Per month) and he travelled kolkata to mumbai by flight Rs. 19000/-( Economy class) Can he claim the amount in IT return ? can he claim every year LTA in IT Return?

Respected Experts,

I am a Practicing Tax Consultant. I would like to know, after completion of ITR Filings of my clients ( Non Tax Audit) I'm in a Plan to issue a ' Internal Audit Report' to my clients ( In addition to the P&L and BS)

The Internal Audit Report will Highlight the Observations and Analytics I came through while Assessing the Books of Accounts and preparing the Financials and after Filing of Income Tax.( Non Tax Audit Cases )

I believe it will help the Small Traders ( Non Tax Audit) and Clients to understand where they stands, what they achieved and to know more where to improve their Business.

Kindly advise am I authorized to issue an Internal Audit Report

Can Any one give me a computation of trust for ITR 7 Filing

Dear Experts,
🙏

In FY 2022-23 the profit earned throgh the share trading is mentioned below:

Intraday = 1.06 L
Short term = 13.51 L
Long term = 75.28 L

Total Realised Profit = 89.86 L
In thecsame FY 2022-23, I have bought an apartment with the details as below:

A1. The individual land share (2.68%)
cost = 1,75,000.00
A2. 1702 sq.ft Apartment
cost = 66,25,000.00

A. Total consideration A1+A2= 68 lakhs (cheque/online paid)
B. Registrn.cost including stamp duty and other service charges = 5,19 300.00 (cash)
C. GST 5% of 68L = 3,40,000.00
D. Association Deposit = 50,000.00

E. Total = A+B+C+D = 77,09,300.00
(including 68,000 Rs. Paid as TDS)

F. Interior/ furniture cost = approx 4 lakhs

Whether I could utilise the 89 lskhs profit amount of FY 22-23 against the Apartments total purchase cost and other interior furniture cost (done in FY 22-23 only) as approximately 81 lakhs, to have a net tax burden for the net amount 89 - 81 = 8 lakhs ?
Please advise.

with best regards
kvg
🙏

Sir,
Individual status it person cash loan received rs:20 lacs from assessess huf status.
Question:
Assessess rate of interest charged on loan amount.