Gaurav Gupta
This Query has 1 replies

This Query has 1 replies

25 July 2024 at 20:26

Rate of Tax FOR GAMING STICKERS

I sell online gaming stickers and cards (virtual). how are profit from sale taxed in Income tax regarding these gaming stickers and cards? Is it slab wise or they are treated as VDA?


Satish Mehra
This Query has 3 replies

This Query has 3 replies

25 July 2024 at 19:42

NRI status and tax

An Indian citizen (student) was in India till 8 Sep ~ 160 days in India. (never been out of India before)
And then left to UK for studies and haven't came back to India in the FY 23-24.
1- What is the status of the assessee (Resident, RNOR or NRI)?
2- He started a part time job with studies from Oct 2023 and received some money in his UK bank account. Is this amount taxable in India?
*The Assessee does not have any income from India except Rs. 21,000 interest received on FD.


Lavanya Mohan
This Query has 1 replies

This Query has 1 replies

25 July 2024 at 19:29

House property loss in ITR2

Choosing new regime still to show house property loss in ITR2?
If not shown any impact in future
Please clarify


SIDDHARTH MAHESHKUMAR SHAH
This Query has 4 replies

This Query has 4 replies

if any of employee's PAN Number is not linked with his Aadhar on Income Tax Portal and this employee falls under the Tax Slab of > 10 Lacs, then What is the liability of Employer for TDS deduction from his Salary?


Raghu
This Query has 3 replies

This Query has 3 replies

Hi
I would like to understand if a tax payer can opt to not setoff long term capital losses against long term capital gains, if the long term capital gains total to less than Rs 1 lakh. In this case can the tax payer carry forward these capital losses to future years.

Thank you so much for your response in advance.


Ritesh
This Query has 5 replies

This Query has 5 replies

25 July 2024 at 18:31

ITR for LIC Agent

Hello Sir,
My sister is LIC Agent and having income form capital gain and Bank FD.
This year she just got Rs. 4000 LIC commission.
Can we file ITR 2 or we need to file ITR3


VIKAS KUMAR SHARMA
This Query has 3 replies

This Query has 3 replies

Sir one of my client is Commercial Cylinder Gas Agency Distributor
Income can be covered US 44ad?
nature of business code?
regards


S N UNNI
This Query has 3 replies

This Query has 3 replies

25 July 2024 at 17:54

F &O LOSS AND AUDIT ETC

ONE OF MY CLIENT HAS INCURRED LOSS OF RS 2 LAKHS IN F & O TRADING AND HIS TURNOVER IS 40 LAKHS ONLY WHETHER HE IS LIABLE FOR AUDIT U/S 44 AB OF IT ACT PL .HELP.


Rohan Kumar
This Query has 5 replies

This Query has 5 replies

25 July 2024 at 16:53

Defective ITR Notice

Error Description
You have filed your income-tax return in form ITR-1. As per TDS details in your Form 26AS, taxes have been deducted under sections 194IA/194IC/194M/194S/194C/194B/194BB/194BA, etc. of the Income-tax Act, 1961. These sections are reflected as (4IA/4IC/94M/94S/94C/94B/4BB/4BA) in Form 26AS. These sections imply heads of income for which form no. ITR-1 is not the appropriate form. Thus, the required schedules for reporting incomes pertaining to said TDS sections are not present in your return of income filed in form no. ITR-1.

Probable Resolution
You are being provided with an opportunity to make necessary corrections and file a return of income in the appropriate form so that income and taxes may be determined correctly in accordance with the Income-tax Act, 1961 duly disclosing the complete gross receipts/income reflecting in your form 26AS under the relevant schedules of the ITR. Please note that as per Rule 37BA of the Income-tax Rules, credit of TDS is allowable to the person in whose hands the income is assessable and in the year (AY) in which such income is assessable.


Tanishka
This Query has 1 replies

This Query has 1 replies

25 July 2024 at 16:13

Interest us 234 c

Can interest us 234c be exempted or reduced in any case in case of tax on capital gain from shares?






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