Assessee sold a residential Flat-A on 09-10-2020. He had already purchased Flat-B on 11-12-2018. Can cost of Flat-B be deducted from the sale value of Flat-A for the purpose of exemption under Section 54 of Income Tax Act? Kindly help.

Assess Rs:1 lacs rental income from own property.but Assess bank account credit rs:25,000/- remaining balance Rs:75,000/-(25,000× 3 ) assess relatives bank account credit.
Questions:
1.Above transtration allowed in i.t.act.
2 assess rental income rs:25,000/- or 1 lacs per month in i.t.act.

DEAR SIRS :: THERE IS GREAT CONFUSION ON ADDING TCS ON TAX INVOICES....
(ONE GROUP SAYS ) IS THIS ON TAXABLE VALUE BEFORE TAX OR
(SECOND GROUP SAYS ) TCS SHOULD BE ON TOTAL VALUE OF INVOICE ( TAXABLE VALUE + GST )......

I ALSO HEARD THAT TCS ALSO REQUIRED TO BE DEDUCTED AND DEPOSITED ON AMOUNT RECEIVED FROM PARTIES WHERE SALES WERE MADE TO PARTIES PRIOR TO 30-09-2020 BUT WHO CROSSED 50 LAKHS SALES TILL 30-09-2020.... PLEASE CLARIFY... REGARDS

Dear Experts, I have a small query regarding section 270a, if someone has not filed his return does in that case will it be considered as Under reporting only or can it also be considered as Misreporting?

Thanks in advance

my friend has transport agency , he registered in gst , he has no own vehicles but he is hiring vehicles for transportation and getting commission on each trip , He is raising transport bill on total amount to customer on rcm basis , he is filling gstr-1 and gstr -3b , he has done approx 50 lakhs worth bills raised in fy 19-20 As per gst turn over is 50 Lakhs but he has got commission on each trip minimum 200/- . How can he show the turn over in income tax , as per gst turnover 50 lakhs but he has arrived income nearly 2 lakhs( commission) on total year because he has hired the vehicles from others.
Please give your valuable suggestion on , how can he show the income as per gst turnover or commission basis , customers transferred the total bill amount in his bank account sir .

What is the due date of filing Income tax return for F.Y. 2019-20 (A.Y. 2020-21) ?

How much tds rate and limit rent on commerical building in I.t. act.
service tax applicable for rent on commerical building.

Dear Sir,

I have made mistake in calculating depreciation while filing with revised ITR for FY 2017-18. and I have intimation u/s 143(1) in which incorrect depreciation is disallowed on 22/05/2019.
I come to notice this while I got notice u/s 245 for proposed adjustment of refund due for FY 2018-19 on 18/09/2020
Kindly guide me how can I rectified FY 2017-18 return and how to stop proposed adjustment in FY 2018-19 against refund.

A person is employed in a Finance company as an agent where tax is being deducted at source u/s 194H. He does not have other sources of income except that. In A.Y. 2019-20(P.Y. 2018-19), he filed ITR-4. Now what ITR will be appropriate for him ? (He does not maintain Books of Accounts)

One of my clients is salaried, apart from that she did open a Business in the P.Y. No information regarding net profit is furnished, from her Bank Statement, it is found an amount of Rs. 5,06,000 received after closing the business. So how should I show the income? Shall I file ITR-3 and show the income as presumptive tax? or other else. Please guide me