Dear All,

I am an partners in 1 LLP.
I am having Income of 38 Lacs during FY 22-23 with TDS credit of 3.80 Lacs but in my 26AS Income reflected of INR 42 Lacs and tds 4.20 Lacs because my client considered 4Lacs provision and paid tds on it for April 23 Invoices.

So do I need to shown turnover of 38 Lacs of 42 Lacs in Income tax ?

Hello Experts!

A Very Senior Citizen wants to claim Deductions under section 80 DD, 80 DDB; filing ITR2 under old regime.
Does he have to upload (is there a provision in the return filing system) certificates / prescription, etc. at the time of filing / submitting the return or have to keep it ready in case it’s asked for later as he has approached the treating Doctors for their stamping but will take some time and due date is approaching.

Hello

Please clarify below my query
Financial year Return Filed under
2017-18 44AD- presumptive Scheme
2018-19 44AD- presumptive Scheme
2019-20 44AD- presumptive Scheme
2020-21 Audit -44AB(e)- 44AD(4)-As business Loss, turnover is approx 32 lakh
2021-22 Audit -44AB(e)- 44AD(4)-As business income is less than 8% , Turnover is
approx 67 lakh
2022-23 Turnover is approx 51 lakh and profit is more than 8%

kindly solve above query shall i carry tax audit even though profit is more than 8% and turnover is less than 1 cr. for the Fy 22-23 under which section shall audit applicable

Sir,

I need clarification regarding the following situation?

My company was planning to organize a tour package to the employees. Altogether, the total package was around 25 lakh. As it was in the nature of package tour TDS under section 194 C was applicable. My concern was regarding, whether there was any tax implication in respect of the concerned employees. Again, this transaction covers within the preview of section 194R.
Please clarify in detail?

Hello sir,
I filled out the ITR before making the payment. There is no option for updating the chalan in the portal. the intimation demand is for 198000 and I have paid 213879 as tax. What I have to do.

in which sec of IT act the exemption can be availed. how to include in IT return

1).Assesses has files his return of income u/s 44AD for the A.Y. 2017-18 to A.Y.21-22 and for A.Y. 22-23 his turnover was 2.12 crore (cash payment and receipt are within 5% limit) so has filed return of income without audit (normal return filed without audit and maintain the books of account also for A.Y.22-23) and now for the A.Y. 23-24 has turnover of Rs. 1.5 crore so he can file his return of income u/s 44AD for AY 23-24. by showing 6%/8% profit?? or it will be treated as a violation of 44AD?

Fy 22-23 (old tax regime)
Income
Ltcg under 112 a-400000
Exemptions
Standard deduction-50000
What is the tax liability ? Will the tax liability change if the ltcg of 400000 is
a) for ltcg charged under 10%
b) for ltcg charged 20%

Hi,

My income source is salary, Interest on saving bank account, and dream 11.

which ITR is applicable for me ?

ITR 1 or ITR 2 ?

Respected Sir/Madam, I have filed ITR-4 for AY 2022-23, For My business income and income from other sources like interest from banks, post office and NBFC. Since Oct. 2022, I have started to invest in Equity shares of listed companies. How I will show equity investment in my ITR-4 for AY 2023-24? Is it necessary to show equity investment in ITR? Or only Dividend Income have to shown in ITR? Kindly give your expert advise.
With Regards,
Prem Moolwani