Do we need to show purchase of vehicle in ITR.
if yes, where...

Thank You

Dear Learned Members,

My wife has started stock trading this year and she has no other income besides some interest income from Govt bonds

She normally buys share and keep them for 7-10 days before selling them off.

I have below queries/confirmation
1) She is NRI, meaning section 44AD would not be applicable to her. So no presumptive income case applicable, is this correct?
2) Tax filing would be under normal business case and tax audit would be required over 10cr turonver, since all receipts are in digital form. Is this correct?
3) Book keeping - accounting books would be required to be kept, if turnover exceeds 25 Lacs. Is this correct?
4) Stocks unsold on 31st March - will they be carried in inventory at cost or lower of cost/market value?
5) Since trading would entail only buying and selling stocks, no expenses envisaged against the same, would keeping digital contract notes or Broker reports of sale purchase be sufficient for the purpose of book keeping?

Thanks a lot for your patience in reading above and replying to my queries

Regards
Saurabh

While trying to generate XML in java utility in ITR 3, I am getting an error of "Please specify the nature". Please help in solving it. I have already selected code under the nature of business. Pls Help

how can i resolve this error

In case of ITR 2, where tax wise as per old regime is beneficial and new regime isn't but then to anyone proceeded to file the return with new regime ??
( in both regime calculation tax payable isn't coming due to rebate u/s 87A )

Response Awaited
Thanks

Dear Experts,

If my client has incurred expenses towards STT, Brokerage and interest for margin trading and earned dividend. Can my client claim all these expenses against Dividend Income under Income from Other Sources ? Is there any limit to what extent can be claimed ?

Hi, I have to change the assessment year in TDS challan paid through online
Can you tell me the procedure to correct it and it helps me to resolve demand notice

I filed ITR1 by self but got notice "

While trying to generate XML in java utility in ITR 3, I am getting an error of "Please specify the nature". Please help in solving it. I have already selected code under the nature of business. Pls Help

Sir,
Assessess professional income sec 44ada and sale of equity shares short term gains income f.y.23-24
Question:
Assessess balance sheet filed sec 44ada or share transaction balance sheet or both balance sheet filed.