Iam having turnover less than 1 crore . I am not opting 44AD presumptive . Am i liable for tax audit if i offer less than 8 % as profit ?

Respected Sir,
Can i file income tax return Assessment Year 2016-17 and 2015-16 now.Can i file income tax return.I have Nil income in this period.But bank demanding for loan purpus.If any way kindly suggest i will very thankful to you.

Hi,

I received an email for proposed adjustment u/s 143(1)(a) with respect to the return of income filed for Assessment Year 2017-18. This was in relation to increase in taxable income.

I have accepted the proposed changes and received a confirmation and transaction ID on submission of response to adjustments u/s 143(1)(a).

Since, the email says "In case if you have opted to file revised return, please upload the revised return within 15 days". Therefore, I was wondering do I still need to file a revised return?

Wether Foreign Savings bank account Interest is eligible for deduction U/S 80TTA for residents

My client is a seafarer working in Merchant Navy. In FY 14-15 he was NRI. In FY 15-16 he stayed in India for more than 182 days. In that year of FY15-16 he received salary in NRE A/c of Rs. 20 lacs. He has not yet filed the return of FY15-16. Now my question is is he liable to pay tax on salary received in NRE? Beacuse if tax payable then he will hve to pay huge taxes.

A SCHOOL TEACHER RECEIVED PROFESSIONAL FEES CAN CLAIM INCOME UNDER SECTION 44ADA

Hi,

Please let me know how to e-file ITR for AY 2017-18, for an Individual whose Income chargeable to tax under the head salaries is more than Rs.50 lacs during the FY 2016 - 17.

Thanks

I'm an Individual tax payer, deriving income from Salary & interest from Bank Fixed Deposits.I'm not required to get my accounts audited & the last date of filing Return of Income A.y 2017-18 under Sec.139(1) is 31st.July,2017.A refund of RS.71,000 is due to me,as a consequence of Relief u/s 89(1).Will there be any benefit lost,if I file the Return around 10 th Aug.2017.R.Dayal(31/7)

sir
when late filing penalty for itr (rs. 5000/-)will be applicable?
that is from 31 july 2017 (from a. y. 2017-18)
or from 31 july 2018 (from a.y. 2018-19)?

thanking you.

AY 2017-18 me pichle kitane saal ka return file kar sakta hu. Or kitane saal ka refund aa jaega mera 2 year, ya 3 year. Mene mera return file 2012-2013 me kiya tha usake bad mene nahi kya me abhi jab 2016-17 or 17-18 ki return lagauga tab unka bich ke saal ka return file kar ke refund le sakta hu.