Dear Sir,Mam My client received 2 lacs rupees compensation money from goverment so plz tell me it is taxable or not.

sir we have deposit tds in wrong head (4AB). can i take benfit in 26Q. or not

Dear Sir,
I am a Wholesale Dealer. My Turnover is Rs. 1,98,00,000/- in FY 16-17. Can I file under Tax Audit or Normal Return?

My client sold one property for Rs.75 Lacs (Capital Gains Rs. 24 Lakhs)and wants to buy 2 properties of Rs. 50 Lakhs and Rs. 25 Lakhs. Can he claim 100% Capital Gains exemption?

Dear Sir / Madam,

I got notice sec 139(9), pls let us know what need to do now...

Error Description Probable resolution
1 86
As per Section 44AD(6) of the Income Tax Act, 1961, the
provisions of Sec.44AD are not applicable to – (1) persons
carrying on professions that are referred to in
Sec.44AA(1), (2) persons earning income in the nature of
commission or brokerage, and (3) persons carrying on any
agency business.As seen from the return of income filed,
the nature of business code mentioned is 00301 General
Commission Agents, which falls in the categories
mentioned above. Hence, the provisions of Sec.44AD are
not applicable, in your case.

Probable resolution

As the provisions of Section 44AD are not applicable, in
your case, the claim of computing profits and gains of
business on presumptive basis, under this special provision
is not allowable. Hence, the above defect has to be
corrected by way of computing the profits and gains of
business under the normal provisions and not under
Sec.44AD and offering the same

Deal all,

My query is regarding that how should I show a house property that was purchased by the assessee in 2011 and he has never filed his income tax return.
The assessee is transport commission agent and he wants to file income tax return and also want to disclose the house property in his return and balance sheet.
Kindly suggest me the treatment for the same as how should I show the house property in the balance sheet.

Sir
I am a work contractor. Can I show the labour charges on daily basis above 10000/-. Pl advise.
Suppose I have to pay labour charges to daily workers of rs.20000/- can it be possible to show in the books of accounts the total amount of Rs.20000/- in one day?
Regards

I am a private vehicle financier providing loan to customers by hire purchase agreement. I want to know whether i can receive the instalments every month in cash or not? I make payment by cheque only.

Hello Experts, is tds rules are applicable in presumtive taxation for partnership firm..(sec 44 AD) i.e.while pyt.made to contractors Thanks, Santosh

Can anyone tell which version of excel utilities for ITR2 -AY 2017-18 we should use? I have tried PR6 & PR8 both but unable to upload xml document during e-filling.