Hello,

May I know how to add exempt under section 10(26) in income tax return filing online? I don't see option of this section. Should I add exempt and select "Any Other" and put details in description?

We want to register our product with department in foreign country.
For which Payment is made to non-resident (No DTAA) who will help to complete the registration. We will pay him lump sum (single) amount for this to him.

What are TDS implication on us being an Indian concern??

Hi Sir/Ma'am,

We are two brothers and paying rent to father to claim HRA. Now we are planning to buy one property by taking home loan. Brother and I will be the co-applicant and property will be on the name of father. So my question is can we (brother and I) claim both HRA and the home loan interest while filing ITR?

What is the solution if buyer wrongly feed PAN of his own in place of PAN of seller in Tax chalaan.

I have received Intimation Seeking information/clarification on the data in the return filed
" Adjustment of income araising u/s 143(1)(a)(ii) - Disallowance of expenditure and deduction indicated in return in schedule HP not taken into account while computing the total income".

Actually i had made an error filling Schedule HP. I have mentioned Property 1 as self occupied property which has 0 rental income but by mistake i have mentioned the rental income of Property 2 in Property 1. Please refer to the example below where (1 a) had to be 0 but but mistake i entered 1,00,000. I need to reply to them about this mistake.

Can you please help me formulate a proper reply.

For Ex . Property 1 self occupied property
a Gross rent received or receivable or letable value (1 a) 1,00,000
b The amount of rent which cannot be realized (1 b) 0
c Tax paid to local authorities (1 c) 0
d Total (1 b + 1 c) 1d 0
e Annual value (1 a – 1 d) (nil, if self -occupied etc. as per section 23(2)of the Act) 1e 1,00,000
f Annual value of the property owned (own percentage share x 1e) 1 f 50,000
g 30% of 1 f 1 g 15,000
h Interest payable on borrowed capital 1 h 0
i Total (1 g + 1 h) 1 i 15,000
j Arrears / Unrealized Rent received during the year Less 30% 1 j 0
k Income from house property 1 (1 f - 1 i + 1 j) 1 k 0

Thanks

महोदय, भूमि क्रय दिनांक 27.2.18 सह स्वामी संपत्ति ए एवं बी पुर . ITR 3 फाइलिंग A प्लॉट pur.A. 290000 बिक्री कुल राशि 295000 एक व्यक्ति 100% लेकिन ITR फाइलिंग जो बेची गई राशि पर विचार करें? पूर्व संपत्ति के मालिक ए 50% बी 50%? बिक्री राशि A.147500 और B.147500 LTCG की गणना करें? और आईटीआर। पूर्ण विचार मूल्य? इंडेक्सेशन गणना के बिना अधिग्रहण की लागत? इंडेक्स ए.कैलकुलेशन.290000/272*331=352904 बी.कैलकुलेशन.290000/272*331=352904 एलटीसी लॉस ए-205404 और बी-205404 आईटीआर। सही हिसाब? कृपया।

Dear please guide me to understand the meaning of turnover.

Our client is a goods transport agent business.

The client acts as an agent but he receives the amount from the company and from that he pays the truck owner and keeps his commission in his hands(Bank).

(Eg. My client received Rs. 10000/- from X Ltd and out of it he pays Rs. 9000/- to Mr. A (Truck Owner) and keeps Rs. 1000/- as commission.) also note that he has not issued any bill to X Ltd.

My question is what amount should be considered as turover while calculating its turnover?

Rs. 10000/-
Or
Rs. 1000/-

Am planning sell my flat which is purchased in 2003. Whatever the LTCG , can I invest this amount as joint owner with my wife in new house property?. Cost of the new property is 2 times of my LTCG.

I was on student visa since dec 2021 working abroad and getting salary around 20lakh since then and did not come to india for any visit . Please tell my residential status and also if i am liable to tax if i have not visited to india in 2022-23 fy .

Suppose I have salary, short/long term capital gains and intra day profits as income and the intra day profits are over 8 percent of my Intraday TurnOver (which is less than 2 crores). Since Intraday profits are part of speculative business, I need to file ITR 3. So ,
1.Am I eligible for Section 44AD?
2. If I am eligible then I dont need to keep books and no need to be audited. Am I right?
3. Suppose in the next year, I dont engage in intraday trading, so now my income is only from salary and short/long term capital gains and hence my business income is zero.Now should I file ITR 3 again since I applied for Section 44AD in the previous year? Or can I file ITR 2 since I have no business income?