Sir,
1.it assessess jointly purchase of property value rs:45 lacs Names in A,B,C jointly registered property .Mr .A download 26 as rs:45 lacs property value show.
2.tax audit assessess professional income rs:70 lacs gross receipts and shares trading income rs:3 lacs in f.y.21-22 audit returns filed in f.y.21-22 .but assessess share trading income not reported in returns.
Doubt:
1.assessee Mr.A property value show in it returns value rs:45 lacs or rs:15 lacs
2.tax audit assessess share trading income sec 44ad 8 percentage profit declared seperate it returns filed or tax audit revised returns filed in f.y.21-22

How to resolve form id is not present in eform mca error ?

DEAR SIR,

ONE OF MY CLIENT'S TURNOVER FOR TYE PREVIOUS YEAR 2021-22 WAS 1,55,38,139/- AND WAS FILED DECLARING 8% OF PROFIT UNDER PRESUMPTIVE INCOME SCHEME, FOR THE PURPOSE OF AVAILING LOAN TO DECLARING HIGHER RATE OF TAX. BUT MISTAKENLY HE WAS ALSO ONE OF THE PARTNER IN HIS FATHER IN LAW PARNERSHIP FIRM. NOW OUR PROBLEM IS MY CLIENT ALREADY FILED INCOME TAX RETURN BEFORE THE FIRM GET'S ITS ACCOUNT AUDITED. NOW THE FIRM FILED THEIR INCOME TAX RETURN AND DISTRIBUTE SALARY AND INTEREST ON CAPITAL. AND ALSO HE HAS PAID INCOME TAX ON SALARY AND INTEREST PORTION.
MY QUERIES
1. MY CLIENT TURNOVER EXCEEDS 1 CRORE
2. HOW CAN HE FILE REVISE RETURN
3. WE CAN NOT FILE ITR 4 SUGAM BECAUSE HE IS PARTNER IN THE FIRM
4. WHETHER HE HAS TO LIABLE AUDIT U/S 44AB BECAUSE TURNOVER AND PARTNER OF THE FIRM

PLEASE CLARIFY AND GUIDE ME

REGARDS

whether TDS will be applicable on Dividend received from Brightcom Group.

Respected Sir

I am a trading in Real Estate ( Only Trading in Plot/Land) last financial year.
Sir I want to Know that how to Tax treatment in Business & Profession /capital Gain.
and what is Procedure of Conversion of stock in Capital Gain Schedule

Dear Sir,

Liquidated damages [ Late delivery charges called as “LD“] : We have exported the material, but some of material got deled to deliver to our foreign customer and our foreign customer have charged the amount as Late delivery charges.

Kindly advice to deduct TDS rate and RBI Purpose code towards process this payment.

Thank you.

Dear Sir / Madam,

My father purchased a flat in 1992 for Rs. 3,25,000/-, out of his own earnings - retirement money. Stamp Duty paid approx Rs. 17,000/-. And Registration Charges paid approx Rs. 4,500/-. Means Cost of Aquisition in 1992:- Rs. 3,46,500/-.

My father executed a Will, bequeathing all his tangibles to my mother; it also says, after her demise - the remnants to be shared equally amongst myself, my 3 sisters and my pre-deceased brother's wife, @ 20% each.

My father passed away on 15-06-2019 and my mother on 06-07-2020. Property Card containing all our (inheritors') names as co-owners was issued by the local authority on 11-04-2022. But I believe this is only a formality and the ownership vests with us with effect from 06-07-2020.

I am selling my 20% share of ownership rights in the flat to my brother's wife for Rs. 15,00,000/-. Please inform what is the approximate amount of Capital Gains, Tax payable thereon and also the approximate amount I have to invest in the specified Bonds for claiming full exemption from payment of tax.

In case of NRI, the refund amount was failed due to invalid bank account details.
The same was rectified by pevalidating the bank account details. Now need to raise refund reissue request. While raising refund reissue request, for e-verification the Aadhar linked mobile no. is not available & Aadhar is not available since he was NRI. Other options like DSC etc., also not suitable. Kindly advise on this.

Dear Expert,

One of our parties has deducted Labour Cess @ 1 per cent from our payment. This is new to us, we don't know about it,

we have some questions/queries about it.

1) What is Labour Cess @ 1% and why is the party deducted from our payment?
2) Our job was to provide environmental services to the party, not do any construction work.
3) Can we take input/claim for Labour Cess @ 1%?

Whether TDS is appplicable u/s 194 R , if asset is donated to Educational Institution (Trust).
Any notification / clarification from Income Tax Department.