Shall I deduct TCS @ 1% on purchase of agriculture land having value more than 50 Lakhs?

Hi,

For a individual person doing F&O trading, do they need to include their Savings Bank, FD, Domestic/Foreign stock/bond investment in the business balance sheet in ITR?

Also should Savings Account Interest, FD Interest, Bond Interest, Stock Dividend be included in the business income or as personal income in their respective sections (e.g. Section OS, Section CG)?

Sources of income for the person: F&O loss, salary, savings/fd/gsec interest, liquidbees dividend.

Thanks

A person have lecturer Income from College and their Tds has been deducted U/S 194Jb. (Although gross receipts less than 50 lakhs)
While filling itr Under which head this income will come?
If I choose for 44ADA then which business code?
Because I tried once by declaring income under 44ADA and choose code for education service and business type 44ADA business. But software gives me error showing wrong business type selected.. It should be 44Ad.
Please solve my query.

Return under section 139(4B) is required to be filed by a political party if the total income without giving effect to the provisions of section 139A exceeds the maximum amount which is not chargeable to income-tax.
what is maxmium amount
i have only 10000 income is it required to file ITR7
Is it necessary to audit by ca

Dear Sir,
One of my client received commission of Rs.38 lacs and TDS deducted 1.9 lacs. What is procedure for filing IT Return and claim refund. I mean how much income to declare.
Thanks in advance

Dear Sir,

If a person sold a property in the financial year 2020-21 which was in his name and had a capital gain of Rs. 40 lacs which he didn't invest it anywhere till date but rather used the sale proceeds to repay a loan of another property which was in his name. The loan was taken in the year 2016.


He didn't file his Income tax return for F.Y 2020-21 and has now got notice for filing updated return. Is there any way now he can save the long term capital gain tax on sale of property and file updated return.

Please suggest if there is any solution.

Regards,
Divyesh Jain

Partnership Firm filed ITR-4 under Presumptive Income during previous Assessment Year. How to opt-out of Presumptive Taxation? Also filing ITR-5 option is not available only ITR-4 is available. What to do in case business suffered overall loss?

Hi Experts,
My Flat was unoccupied for 2 years and then we had incurred huge costs for Renovating the property & also the society asked for some structural building work for mandatory repair.

For last 9 months in FY 22-23 my flat is now been rented out but now how do I deduct above costs for its tenantable state?

Thanks,
DM

The firm having 5 partners. This situation, we are calculated and paid the interest on capital to only 2 partners capital. Is eligible U/s. 40(b) to give interest on capital to that 2 partners.

if assessee having two business income

1) income from trading of goods
- Turnover is below 1cr
2) income from future and options - Turnover is below 1cr


* 12% profit from Trading of goods
* losses from future and options


Previously ITR filed under 44AD

Please advise me that we need to audited our books of account to claim of future & options