the 8% profit is to be considered before interest on partners capital and partners remuneration or after deducting it for determining audit applicability, because in our client case profit is 13% before interest and remuneration but after remuneration and interest it is 5% . Whether audit is applicable to this firm for F. Y. 2016-17.

SIR,
Please, guide into following :

An individual has received maturity amount of his LIC life insurance policy, in FY 2016-17.
Policy started in October 1996 and matured in October 2016.
Policy Sum assured = Rs. 1,00,000.
Total premium paid by him during the policy period = Rs. 1,20,000.

Total Maturity Amount received in October-2016 = Rs. 2,15,000.
No any other amount is received during policy period, except this maturity amount.

QUE.1: Is this LIC Policy's maturity amount, taxable income ?
Is any tax to be paid on it ?
QUE.2: Will he have to show this Policy's maturity amount, in his Income tax Return of F.Y. 2016-17 ?
If yes, then :
- Where to show this amount ? - Under which head ?
QUE.3 : How much amount to show in the Return as income ?
- Full Maturity amount Rs. 2,15,000 ?
OR
- Maturity Amount - Total Premiums Paid ?
[ Rs. 2,15,000 - Rs. 1,20,000 = Rs. 95,000 ] ?

Please, guide.
Thanks in advance .

Hi..
X (Individual) have Intra day profit and Hp income . My doubt is that whether he had to file ITR 3 or ITR4

hi I am going sale my plot. Purchasing party gave me 5 lakh in cash as token money ( beaana) . total 30 lakh our agreement .balance will be paid within 3 months. my question is the balance amount should I receive cheque or cash ? please advise what to do in all. thanks

I am an individual and i have incurred loss in fy 2016-17 in share trading.Its not my business.Just for short term trade.Do I need to claim the loss compulsorily while filing the return?

tds deducted in Ay 15-16 can I claim refund in Ay-17-18 return???? what is last date to claim tds refund

RESPECTED SIR,
A LIMITED COMPANY IS PARTNER IN A PARTNERSHIP FIRM.
SIR, CAN PARTNERSHIP FIRM PAY REMUNERATION TO THE LIMITED COMPANY


WITH REGARDS

Dear Sir,

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