Is the pension income received by Member of Parliament taxable under income from other sources or salary income?
Answer nowdear sir/madam one of my friend filed Itr for AY 2012-13 and he claimed tds refund but by mistake he fill wrong bank account no now how can I claim again that tds help me
Answer nowPlease explain section 44 AD(4)??? what is the intention of introducing such a provision through finance act 2016???
Answer nowDear Sir/Madame I have an income of say 2,00,000/- in Fy 2016-17 on which TDS u/s 194J is made at 10% i.e., 20k. and I have salary income of 2,50,000/-. Will I fall under the purview of tax audit if I want to declare my professional income's net profit as an amount a)below 1,00,000/- b) if i opt for presumptive taxation and declare at 50% of Gross receipts i.e., - 1,00,000/- c) if I declare the whole of Gross receipts as income i.e., 2,00,000/- Will I fall under the purview of tax audit under the 3 circumstances mentioned above??
Answer nowAssessee not maintaining books of accounts as per income tax act as he want to show income in Sec 44ad
His turnover all via bank is.................7000000
Purchase all payment through bank. 6500000
Direct exp all through bank.................40000
Indirect exp all through bank................50000
Net profit ( 5.71% of turnover )..........400000
Now his actual profit is 400000 ( 5.71% of turnover ) . Can he file itr 4s showing profit in itr 560000 (@ 8% of turnover)
He want this bcz he does not want to maintain books of accounts
Whether this situation is possible.
Another Que is what will be effect on vat if vat involved vat rate is tax free
Hello there,
I have not filied my return because of non taxable income for AY 2015-16. But now i wish to claim my TDS amount how should i proceed with this ?
Can we make cash payment of salary to a single person aggregating 240000 before the amendment took place in 40a(3) i. e. For fy 2016-17.. And does it require to report these transaction under 114E(5)..
Answer nowmy employer not show children education allowance and medical allowance in form 16. Can i claim medical allowance of rs. 15000/- and children education allowance rs. 1200/- in itr for f.y 2016-17 and claim refund?
Answer now*For a partnership firm for AY 2017-2018:* If a working partner is drawing a remuneration, is tax audit applicable for that partnership firm (even though the turnover is below the limit i.e. Rs. 2 crores)?
Answer nowkya mujhe koi bata sakta hai ay 17-18 ka return kab tak ja sakta hai
Answer now
Input Tax Credit, GST refunds and Recovery of refunds- Roadblocks and way outs
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Pension Income received by MP