HRA and standard deductions are available for deductions from salary income;what about exempt allowance sec 10(14)2;my pay slip does not mention car allowance,transport,mobile allowance;transport allowance but I use my personal car to travel from home to office daily fuel expenses per month 5000,and annual car maintenance charges 10000 per year:can I claim these under section 10(14)2;is daily allowance fully taxable

Income of Senior Citizen as follows
Salary income after std dedn Rs.16,228/-
Speculation Profit from shares Rs.18,475/-
Long Term capital gains on sale of shares Rs.34,789/-
Short Term capital gains on sale of shares Rs.1,24,212/-
Income from other sources Rs.4,79,325/-
Gross Total Income Rs.6,73,029/-
Less : U/s 80C Rs.1,45,000/-
u/s 80TTB Rs.50,000/-
Total Income Rs.4,78,029/-

My question is whether there will be any tax payable or will be fully covered u/s 87A ?

Hi Experts,
My query is wrt A.Y.2020-21. I am a salaried employee and filed my return claiming refund for Rs.45k. After processing of return, I was given refund only for Rs.25k. On checking intimation u/s 143(1), i found that HRA and Uniform allowance exemption have not been allowed to me. Though my employer allowed both these after verifying and taking relevant documents, which are genuine documents and not manipulated/fake. Based on this intimation, I submitted first for rectification and after than a grievance wrt this rectification stating all the facts and sharing all the relevant documents at the income tax portal. Still both the rectification and then that grievance got declined by CPC and no changes were done in the return details processed by them. Hence I am deprived for a less refund and don't' know how to proceed further after all this. Request you to kindly advise what can be done after this, as this is first time I was denied HRA/Uniform allowance exemptions by IT office.

Good Morning Experts this is a query related to Gratuity.
I have 2 concerns. First is the term 5 years of service, does this mean 5 year of service with same employer? or can i take it as 3 years with 1st employer and remaining with the subsequent employer.?
Secondly, if I have received gratuity post 2 years of service, at the time of my resignation, can i take the benefit of section 10(10) of IT act1967.
Looking forward for your response.
Thankyou in advance.

Dear Sir,

One of my client was filing return under Section 44ADA till FY 2019-20 but from FY 2020-21 she has boutique income which is eligible for section 44AD.

Can her return now be filed under Section 44AD or she needs to continue filing under 44ADA only since in 2020 return was filed as a professional.

Please suggest what can be done.

Regards,
Divyesh Jain

Assessee having HP Income and also does maintenance of said property for which separate amount is charged from Tenants. The expenditure on Maintenance is more than Income thus leading to overall loss which is being shown under head" Income from Other Sources" and the same is being set off against HP Income.
Assessee being senior Citizen received Interest on FDR of Rs.50000/-
Income from Other sources
Loss from Building Maintainence-300000
Interest on FDR-50000
Net Loss under the "Income from Other Sources-250000

Can He claim deduction against Interest on FDR u/s 80TTB after overall set off of rs.250000/- from HP income?

Dear Expert,

A individual who is having salary income get the profit from stocks trading , short term capital gain.. his sales turnover (stocks) Rs.25,00,000.00 and purchase turnover(stocks) Rs.24,00,000.00 .. can he show this turnover and profit Rs.1,00,000.00 as professional income.

Kindly confirm

wrong address is coming in my 26AS. what is the procedure to update address ?

my wife with myself and daughetr major have booked a flat and paid 10% of agreed value at the time of booking . agreemnt to sell has not been done yet. pl let us know when do we have to pay GSt TDS and % of the same and how to pay the same .
also if we are not showing any % share in the property can i and my wife can make payment of interest and principal as per our convenience and claim benefit of the same in our It returns .
i am in new tax scheme can i change it to old scheme whiel filing it returns in case agreement go through before march 22 and emi on housing loan starts thanks in advance

thanks for the reply from expert . regarding income tax TDS pl advice % of Tds payable and can it be paid in one lot or only against each payment paid to builder.

From 2011 to 2019 TDS was deducted from my Father's salary. He never filed a return to claim the refund. This year while filling his first return it was seen that huge amount of TDS in 26AS but the CA who filed his return said that the Previous Year TDS cannot be claimed in case of salary. Is it true? Can I claim my Father's unclaimed TDS or its lost? Please help.