Dear All,

My land is compulsory acquired by state government and for that they have paid compensation. They have paid such compensation with interest for delay in payment. I want to know whether such interest is taxable or tax free?

Thanking You.
Nirmal Dave

After validation when i proceed to preview and verification, i get a message 'A' class error.
-deduction under u/s 80 u for self with severe disability can not be more than 125000.

I am neither disabled nor claimed any deduction u/s 80U.

Please guide

If one has incomes from Salary (Pension), Interests (Bank and Annuities) , Dividends (MF & Shares) , Capital Gains (MF& Shares) and have Technical Services/ Consultancy income of Rs 6,00,000/- and overall taxable income is above 50 lakhs, then which ITR form one uses for filing tax?

My wife working as a lecturer in a college under contract basis. Her total Remuneration is Rs.3,68,100/-annually. Tds Rs.3684/- deducted under 194 c section. Her Professional code is 17007(other education services n.e.c). Her professional comes under non specified professional under Section 44AA(2). She has to file ITR under ITR3. She got Rs.1632/-interest from her savings bank account. She is not claiming any deductions under any sections. As we know up to Rs.5 lac income, no tax is charged as per tax slab for fy 22-23. We have a confusion about sections of presumptive income scheme. Under which sections of presumptive income scheme we should show . Whether it is 44AD or 44ADA. or can we show the income without using presumptive income scheme. Where to put contract income under ITR3. Kindly fully guide us in this regard.

Thanking you

Sir, If I pay rs. 10 lakh to a farmer to purchase agriculture produce in a day. Is it allowed?
Will the purchase be disallowed as expense or not.

Sir, Please give me the format of Partnership Balance sheet

Dear Sir
Good day
I had booked an office in the name of my wife with Amrapali Group project "AMARPALI TECHPARK"in Greater Noida in the year 2008 .
I was assured at 12% return on my investment of 550 square foot area I was getting returns as per agreement after deduction of 10%TDS till the year 2016 .
Amrapali went bankrupt and now the project has been acquired by NBCC and still incomplete and I have not received a single penny after 2016.
As per the agreement I was supposed to get an income of Rs 37per square foot for an are of 550 sq.ft.

Can I claim LOSS OF INCOME UNDER THE HEADS PROPERTY in my wife's income tax return??
We have never claimed any loss of income since 2016 from this property.
My wife is working and she's filing ITR-1
Please advise if I can show this loss of income in ITR-1
Thanks andbest regards
Arvinder Singh

Greetings !

1. I have intraday loss & when I try to enter it in speculative business in ITR 3, it was not taking negative sign. How to enter negative sign ?
2. My brother worked in his ex company from 2018 to mid of 2022 & received leave encashment of Rs. 5 lacs after resignation. Is the amount taxable ?
If it is taxable, is that taxed already as salary or we have to pay while filing and what is the process ?

Kindly clarify.

Respected Sir/Madam
if any urban agriculture land acquired by Govt and thereafter in place of acquired land, alloted residential and commercial properties as per letter of intent (LOI) without monetary compensation, then in this case whether cost of property currently owned by assessee is considered @ which has mentioned on LOI by Govt?? we considered cost of property in Assets and Liab. Schedule of ITR

Plz provide your valuable feedback........

We have created a trust and a school run under the trust. We want to file ITR for last financial year.
Please guide me regarding the process.
Is there need for GST number or registration in Income tax department. Please guide me regarding the same.