Sir,
Mr. A purchase of property from Mr.B value rs:50 lacs .the stamp Duty value this property is rs:65 lacs.
Question:
Tax treatment both persons and sec 56 2(X) provision applicable in it act.

Penalty under section 234E levy from which date and how much penalty can be levy.

or in the case of NIL returns than also how much penalty can be levy, please reply.

Requesting for your clarification regarding tax Audit applicabilty on intra day trading losses".
My question is that: Is Tax audit mandatory when we suffer Intra day trading losses and Total income ( excluding losses from trading ) exceed basic exemption limit i.e. 2,50,000 but total turnover i.e. Profit + Losses from trading is below Rs 1crore ?

Sir,
Since last 2 days I have been trying to file my ITR 3 on Income tax portal. But after filling return, when I try to file/validate the ITR, an error message appears on screen " Something went wrong try again later " How to solve the problem ?

Dear Sir
Dividend paid by indian company to non resident...whether (FY 2021-22).

1) Liability to deduct TDS arise us 195?
2) Non resident liable to tax on it and file IT return?
3) what is process to pay or transfer dividend amt to non resident accounts
4) Need to file Form 15CA/CB or not.
5) Whether Indian Company liable for Div. Distri. Tax? if yes what is effective Rate.
6) Liability to deduct TDS at what rate if paid to Indian Shareholders.

Please revert on the same

Case 1: A supplier having sales 10 cr above in a year., He was Sell and purchase from same Party had transaction of payment and receipt to be done 50 lakh above in a year.,
a) how to rise payment with tds or without tds?
b) Can supplier do to collect TCS also?

Case 2: A supplier having sales 10 cr above in a year., He was Sell and purchase from same Party or exchange the goods both of 50 lakh above in a year., and No payment and receipt to be Made, how to deduct TDS , Collect TCS?

Kindly give an advice dear experts

For PY 20-21 I have filed ITR 4 .
But next year I have short term capital gain .
So for PY 21-22 I won't be able to file ITR 4 .
IF I file ITR 3 or 2 for PY21-22 do I have to do tax audit because I am opting out of presumptive taxation only because I can't show capital gain in ITR 4 ?

I paid self-assessment tax amounting to Rs.17760 through SBI Net Banking. I got Tax Payer Counterfoil generated through net banking. The Challan details were submitted in ITR Form at the time of ITR submission. But IT cell did not allow the credit. Reason mentioned by IT department: Challan for this AY is not available and raised Demand Notice for Rs 17760.
In IT Portal- I will disagree the demand. On selecting Disagree- there many reasons. Out of these,
Two reasons are:
1. Demand paid and challan has CIN ( without open challan details)
1. Demand paid and challan has CIN ( without open challan details
Which one I have to select. What is the difference between without open challan details and without open challan details. Please provide me the details.
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Read more at: https://www.caclubindia.com/experts/ask_query.asp

Read more at: https://www.caclubindia.com/experts/ask_query.asp

Hi,

I am salaried individual who deal in Options trading. Turnover is below 50lac and losses of 1lac Pls let me know how to prepare BS and P&L statement.

Where to include turnover in BS? How to calculate TO in Options as sale price+premium is turnover. What needs to be mentioned in asset?

I have a query related to taxation.

I have opened a new joint bank account with my brother.

I am the primary holder and my brother is the secondary holder.

I'm currently not doing any full time job, my brother is doing it.

He is doing full time job in bangalore but also on his name I'm working as a freelancer(Recently started).

Since my brother(secondary holder) is working as a full time job he has been filing ITR for the past few years.

Now, the question raised by my brother is who should pay the taxes on the freelancing income?

Since I'm working as a freelancer using my brother name and the amount is getting credited on his name, can I file the ITR on my name?

I've heard that by default primary holder is liable to pay the taxes.

My brother doesn't want to include that income in his ITR because it might change his tax slab.

It would be very helpful if you could put some light on this.