banner_ad

ghosh
This Query has 5 replies

This Query has 5 replies

14 August 2023 at 19:39

F&O turnover and purchases

what is a F&O turnover and purchases , and how turnover - purchases = profit arrived at?


mohamed ali & co
This Query has 2 replies

This Query has 2 replies

Are persons working abroad required to file income tax returns in India even if their stay in India is less than 182 days and if their income is below taxable limit. DDIT issued notice calling for assets held abroad.
Can the experts throw light in this aspect please....


GOKULDAS KAMATH
This Query has 2 replies

This Query has 2 replies

My wife got her share of Rs.10 lakhs out of sales proceeds of agriculture lands in the name of her grandfather

Whether this amount is taxable income

If yes, what is the remedy available so that she need not pay Income tax on this amount


K.G.Shah
This Query has 1 replies

This Query has 1 replies

14 August 2023 at 13:23

Rent agreement with wife name

Sir
Mr A 35 year purchased flat in joint name Mr A and Mrs A. ( wife is house wife) .

Can he let out property and show rental income as his wife's income. Rent agreement done wife's name.
Since last 2 years he is showing income as wife income . Just to save tax .
Clubbing of clause affected ?
He is doing right ?
Please advise


suryadipsinh mori
This Query has 5 replies

This Query has 5 replies

If someone is running business and filed ITR 4 OR 3, whatever the case,
Then If He Scored Good Mark in Government Exams (State Or Central) Then Any Problem Arises In Getting Job ? Like He is already earning, Or He is already stable like that? OR Name not listed in merit list because of Filling Tax return like that?
Is there any case about that ? Please let me know


C.M.JAYSINGH
This Query has 1 replies

This Query has 1 replies

13 August 2023 at 23:42

Pesonal Account Examples

Could you give me the Personal Account Examples?


Athira
This Query has 6 replies

This Query has 6 replies

13 August 2023 at 22:30

Direct Tax itr

Actually I have filled my income tax and income tax department processed the same. Now I received a message saying my CRN expired. I did not generate multiple challan and my itr already processed so what does it mean


Guest
This Query has 3 replies

This Query has 3 replies

13 August 2023 at 14:53

F&O.........

As F&O is normal business, there are 2 options. One is presumptive taxation and the other one is to show books.

PRESUMPTIVE TAXATION:

FUTURES:
Absolute profit and loss is the turnover for Futures trading i.e let's say we earned profit of Rs. 100 in one trading and suffered loss of Rs. 100 in another one. So, turnover will be Rs. 200

OPTIONS:
For loss transactions in Options, Turnover = Absolute loss + Sale Value. So, turnover will be buy value.

FIRST DIFFICULTY comes with calculation of turnover for profit transactions in Options. Trading platforms like Groww, Angel One etc.. suggest Turnover = Profit + Sale Value. But Tax Guru suggests Turnover = Profit value. So, which is the correct one?.

SHOWING BOOKS:
Even if I have suffered losses, I have to show a minimum of 6 percent profit under presumptive taxation. To carry forward losses, there is no other option other than to show books. But how is it possible practically? To show such a huge turnover as discussed in presumptive taxation and to arrive at a negative figure. CORRECT ME IF I AM WRONG.


HIMANSHU
This Query has 1 replies

This Query has 1 replies


A has purchased tenancy rights from B by buying on ownership basis a flat for B in the year 2000. Thereafter tenancy was transferred by Landlord in the name of A. The Landlord redeveloped the said property and gave a flat to A in the new building by executing in the Permanent Alternate Accommodation in lieu of his A surrendering his tenancy rights. The said Agreement was executed and registered in Oct 2001. At Present A is in the process of selling the said flat.

Query?

What will be the cost of acquisition of the Alternate flat given to A?

a. The cost incurred for purchasing flat for B.
b. Market value/Stamp duty value of new flat given to A in Oct 2001.

Kindly advise.
Thanks


Akhila.s
This Query has 1 replies

This Query has 1 replies

12 August 2023 at 20:08

Tax on cricketers and bcci

can anyone explain me the complete income tax provision relating to tax on indian cricket and bcci. if possible find refer me the books i need to touch down for the same






CCI Pro
Meet our CAclubindia PRO Members

Follow us
add to google news



Answer Query

Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details