There is a concept of odds in betting. Like if odds are 1.85 so if I bet Rs. 100 I will get Rs. 185. So my profit from bet is Rs. 85. So, my question is, Is Rs. 85 taxable in 115BB or whole amount of Rs. 185 (my bet money Rs. 100 and Rs. 85 profit/income) ?
Rs. 100 is money I already paid tax on when I got it in form of salary, Please enlighten me. Thanks in Advance...

When I log in as Authorised Representative to prepare and file F.10DA, it appears, the form is not yet enabled to be prepared online. Can you please guide me how to go about preparing and filing F.10DA?

Dear sir > there are two dates one for filing Audit Reports usually 30th September and another for filing Return probably 31st October. It is a fact that the Audit Report cannot be submitted unless the financial statements are finalised. So extra time is not required for filing the ITR if the Balance sheet and P&L are ready. In this scenario who is getting the advantage of allowing extra 30 days ? Is the Dept getting any benefit or is the assessee getting any advantage ? pls throw light on this Thank you

If person received ancestral house property (residential flats) from his grandfather, what value to be shown in balance sheet( whether stamp duty value or nominal vaule of Rs 1 etc.). Also cost of previous owner is also unknown. Also plz guide tax treatment at a time of sale of the same

Ay 21-22 Year ending March 21 while filing 44-AD Return sales to be taken nett sales (without GST ) or Gross sales to be taken ( with GST ) whereof 6% nett profit to be shown because of total cheque transaction and also the total sales debtors as on 31st March 2021 have been fully received.

wrong information is observed in A I S for FY 20-21. How to correct the same?

SIR
WHILE UPLOADING ITR3 FOR AY:2020-21 IN INCOME TAX WEBSITE, AN ERROR IS SHOWING STATING "INVALID HARSH VALUE IDENTIFIED.MODIFICATION TO ITR DETAILS OUTSIDE UTILITY IS NOT ALLOWED".
WHAT IT MEANS?

My late father had some money in the bank and I am the nominee.
There are 3 heirs including me.

If the nominee is in possession of that money for 6 months after which it will be distributed to the heirs.

So who will pay income tax on the income generated in the 6 months prior to distribution?
1. Nominee or
2. All 3 heirs

Thanks

What is the last date to file Income Tax Filing for FY 2020-21 under 5 lacs salary/income?

Profit from Acquisition by NHAI of Rural agricultural land of an Assessee does not attract income tax under Section 96 of the RFCTLARR Act . But when the assessee is a Corporate Entity will it be liable to pay Minimum Alternate Tax on the Sale Consideration received or will it be still exempt.