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Srinivasan
This Query has 6 replies

This Query has 6 replies

Hello sir/mam, please help me know my business code and whether I can opt ITR4 44ADA if I work as a music teacher full time. Streams of income are share of fees from tutoring students & performing stage shows. The ratio is 50-50 for the income streams.


SRINIVASA RAO P
This Query has 1 replies

This Query has 1 replies

Is amount paid by respective State Govts. to Anganwadi workers / helpers for their monthly services rendered , taxable under Income tax act 1961 ?

if yes , can it be taxed under the head ' Salaries ' or under the head ' Income from Other Sources ' because these amounts are being paid as Honorarium to them.

Does the word ' Honorarium ' include in the definition of Salary under Section 17(1) as per Income Tax Act , 1961 ?

Plz clarify.


Sudhaker Ramani
This Query has 1 replies

This Query has 1 replies

09 July 2024 at 13:03

Final Submission of IT Return

I have done all verification and validation were successful without any alert of Errors .

While i submit FOR e-VERIFICATION with Adhar OTP , the System was prompting " Something Went Wrong , Try Later "

Then after wards while i tried , it says - Validation Completed - 1 error Found

Error Description : Your return is already Submitted , You cannot resubmit it .




rmalhotra
This Query has 4 replies

This Query has 4 replies

09 July 2024 at 12:52

FeedBack of SFT transaction.

Sir,
A resident Individual is having RD a/c of post office. During tenure of RD a/c he was reporting accrued interest of RD on estimated basis in his Yearly ITRs. But Post office does not credit RD a/c on yearly basis as per its practice and also does not deduct TDS.. It credits the total interest amount only at the time of maturity of RD a/c. That is the point of mismatch..
While preparing ITR of closing year of RDa/c, when individual noticed this mismatch, he reported in the " Feed Back" of interest amount which he had already shown on estimated accrual basis in ITRs of earlier years on year-wise basis respectively as " Relates to earlier years " to reconcile the total interest in the last year of maturity of RD a/c.
But when this feed back was forwarded by AIS utility of ITax Dept to PO , it has replied back by PO that "Feed back is incorrect.."

Hence the following queries :-

1. Is individual right with reporting of accrued intt of PO- RD a/c on yearly basis and then balance of interest in the last year of maturity of RD ?

2.Will he face any problem when source i.e. PO has reported that "Feed back is incorrect" ??

3.Can he still file ITR as per his scheme i.e. " Total Interest Rs 8 Lacs - Accrued interest already reported Rs 6.10 lacs " with net interest of Rs 1.90 lac for year of closing of a/c on maturity i.e FY 2023-24 even after negative reply from PO " Source", ???

4. Can he write in description of ITR at relevant column, that he had already reported portion of Accrued Interest to extant Rs 6.10 Lacs in earlier relevant years. ????

Pls guide on above.


Arnab Chatterjee
This Query has 2 replies

This Query has 2 replies

SUPPOSE SOMEONE HAVE RECEIVED 22 LAKH IN A SINGLE FINANCIAL YEAR FROM SALE OF PROPERTY, AND VIA UPI THE ENTIRE AMOUNT HAS CREDIT HIS/HER SAVING BANK ACCOUNT IN A SINGLE F.Y. BY 12 TIMES INSTALLEMENT, AND WITHDRAWL AS CASH IMEADIATE ABD INSTANT FROM THERE.

NOW QUESTION IS THAT, HE/SHE IS A SMALL BUSINESS PERSON, CAN HE/SHE GET ANY INCOME TAX NOTICE OR FALL UNDER ANY QUESRIES...?? ACTUALLY HALF OF THIS AMOUNT HE/SHE UTILISED ALREADY FOR CHILDREN TUTION PURPOSE AND KEEP SOME INVESTMENT.

NOW HOW TO AVOID TAX. PLEASE GIVE ME ANY SUGGESTION.


Sudhaker Ramani
This Query has 1 replies

This Query has 1 replies

09 July 2024 at 11:44

Dividend income Querry

"In Schedule OS/ Schedule El, the amount of dividend income mentioned is cannot be more than the dividend income reduced from Schedule BP."
"Kindly ensure that dividend income mentioned in schedule OS or schedule El should be equal to dividend income reduced from Schedule BP."

i have included the dividend income in "Profit and Loss" 14 (iii) and Schedule BP A3? .
even after that the issue is OPEN and not resolved


DEVI SINGH PARIHAR
This Query has 1 replies

This Query has 1 replies

06 August 2024 at 12:25

Income u/s 44AE

Income Tax Query: In case of transporter who declare income u/s 44AE having a Truck-Trailer and on R.C. of vehicle laden/Unladen wt.(Kg.) 55000/15070 kg. is mentioned and GVW is not mentioned on R.C. so on which weight income u/s 44AE is to be calculate on 55 ton /15 ton. (55 Ton x 1000/- p.m. or 15 Ton x 1000/- p.m.)


BISWAJIT MAIKAP
This Query has 3 replies

This Query has 3 replies

Sir/madam,
1) My client is a salary person. he has an income from capital gain And also he has an income from future and options (F n O)and online trading (intraday trading). He will file ITR by ITR-3 . Now, He wants to filing his income tax return under old tax regime.Then , is form-10IEA for applicable for salary+capital gain+ future and options+ intraday?
2) if, any salary person will file by ITR-2 in old tax regime ,with Mutual fund capital gain income, then is there need to file form-10IEA?


Kuldeep Singh
This Query has 2 replies

This Query has 2 replies

Suppose if i sell a plot/house property in June 2024 and want to buy new house property in February 2025. Should i have to deposit the capital gain in CGAS scheme before July 2024 or July 2025 (at a time of itr filing)?

Actually i do not want open capital gain account so when can i buy new property without depositing mony in capital gain account?


Kollipara Sundaraiah
This Query has 1 replies

This Query has 1 replies

Sir,
Assessess Gift income from specified relatives exempt under new tax regime or not.






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