Hello,
Can someone please let me know what shall be the Business Code if I need to file ITR 4 under Presumptive Taxation for an AC repair service provider. Business code 21008 other service is not accepted by the portal.
Thank you

1. I am an author. A school chain is using my novels in their textbooks under a licensing arrangement.

Is the licensing fee taxable?

2. I receive royalty from amazon.com. 15% of the royalty is withheld in USA. Can the amount be reduced from my tax liability in India? If so, how do I apply for it.

Thank you.

MY CLINT HAS HSG LOAN PAID IN FY 267858 RS TOTAL =PRINCIPAL COMPONENT 214939.00(RECEIVED SUBCIDY FOR GOVT.) AND INTEREST COMPONENT IS 52919.00 RS SO MY QUESTION IS WHEN I FILE THE RETUN AND I M ONLY TAKEN HSG INTEREST REBATE NOT TAKEN 80(C) DEDUCATION HSG REPAYMENT SO PLZ SUGGEST THIS POINT IS RIGHT OR WRONG.. I don't want 80C exemption IN HSG REPAYMENT NOT ONLY FOR INT DEDUCATION FUTURE DEPARTMENT NO ASKING QUESTION

If a person has 2 business 1st cloth business in which he avail 44AD his Turnover is less than 2 crore i.e 10 lakh and Profit is more than 8% i.e 1.2 lakh and another business is of F&O in which his turnover is 30 Lakhs and having loss of 3 Lakhs and he maintain book of account in case of F&O business did audit applicable?

Dear Sir,
One of my clients jointly purchased a Flat in which they are co-ower & co-borrower also. Husband re-payment the loan with principal & interest in F.Y. 2022-23, Is he fully amount claim the principal u/s 80c & interest u/s 24 (b) in his return, or is he eligible to claim half amount of fully paid principal & interest?

Hi Sir/Ma'am,

I have recently changed job and no TDS was deducted on April, May, and bonus income and total was around 3.25 lac. Now for the Income Tax, I have two options as per my knowledge.
1. Pay advance tax
2. Declare this income with TDS deducted as 0 to new employer to get tax adjusted in upcoming salaries.

I want to go with advance tax option.
If I do this, the tax is around 70k so can I pay the whole in advance. Actually I'm confused with the 15 % on or before june, 45% on or before Sept etc. What are these dates?
And if I pay the whole 70k in advance then to the new employer I will have to show my previous income with 70k as TDS deducted right? So that TDS is not deducted again.

Thank you in advance.

Hello Experts,

Following is the case scenario:
Interest on Loan from NBFC was mistakenly not entered in Profit and Loss account for the FY 20-21, Also TDS was not deducted.
Now, if in the current year, if we decide to deduct TDS, can we claim the expenditure in profit and loss account?
I know that as per section 40, if TDS is deducted subsequently, the expense is allowed in that subsequent year. But in my case we didn't disallow the expenditure through Tax Audit report, but mistakenly didnt even debited it in PL in the first place. Can we still the claim the deduction?

I have filed ITR 3,
error show at the time of validation..

Category of defect A :You will not be allowed to upload the return. Kindly correct below errors in order to proceed further.

1. In Schedule VIA, deduction u/s 80U for self with severe disability cannot be more than the maximum limit of Rs.1,25,000

Where I have not entered any amount under this section. 80U in schedule VI.

and clicking by clicking the error, no response was made from the site..

I superannuated from a PSU having own recognised PF trust. As per rules of trust the cpf can be kept with trust upto 3 years post retirement & applicable interest shall be
Credited to the account. On withdrawal after 3years in FY 22-23 interest income has been charged to tax & tds deducted. Can I claim exemption u/s10 for the same while filing the return for FY2022-23?

.

Dear Experts,

In 1 of the case , erroneously there have been 2 pan cards for female assessee. Old PAN consists name before marraige and new PAN has name after marraige.

All income tax returns and bank accounts have been done with old PAN , however aadhar has been linked to new PAN.

Please advice whether I can surrender/cancel old PAN and continue with aadhar linked new PAN if all returns have been filed with old PAN since both PAN are in same jursidiction.

Pls advice

Regards