Sir,
One of the professional income it returns filed person
1.depreciation claim value rs:10 lacs large value net income loss show in books
2.fees collections from patients some amount cash mode and balance amount online bank mode (Google pay and phone pay and paytam modes) received .
Question:
1.assessee depreciation claim large amount net income loss filed or fees income increased for f.y.21-22.
2.fees collections from patients cash and bank mode entry passed procedure in books.

Hi,

What is last date for filing revised return for FY 2019-20 AY 2020-21

If society makes deposits in co operative bank then interest income is claimed as deduction us 80P(2)(d); but as per section 80P(2)(d) if deposit made in co operative society then only deduction available.
Whether co opearative bank is considered as society for section 80P ???

Sir,
One of the professional income it returns filed person
1.claim depreciation

value rs:10 lacs amount net loss show in books.
2.fees collections from patients some amount through on
online bank mode(hdfc and axis bank) Google pay and phone pay and paytam modes and balance amount cash mode received.

Question:
1.assessee net income loss show or fees income increased in it returns in f.y.21-22
2.fees collections from patients different types cash and digital modes accounting entry passed procedure and create ledger name .

Sir,

Why a bank can insist and under which rules ask to submit Form 15AC /15CB when I need to send funds from my NRO a/c to my own overseas a/c.
It is clear that in above case section 195(6) of ITax read with rules 37BB is not applicable , as remitter and receiver is same individual, and there is no one else there. Even structure of these forms conveys that it is to be filled by remitter while transferring funds to another( person ) NRI.

How to deal with such case. Pls guide on this issue.

I'm a trader and I have to transfer big amount from my broking account to savings account and now with increasing earning the amount is getting bigger.

So I have "10 lacs" fund and I need it that full amount for 2 days only so transfer it from my savings account to my broking account and other 5 days of week I don't need it so want to transfer back to savings account to earn intrest on that sum.


So basically I have to move it from my "one income source" to "second income source" Evey week.

10 lac ×52 week = 5.20 crores transection would be yearly in my accounts.


So "what should I do to avoid income tax department notice or any doubts on me?"

As I'm doing it only in my account (or sometime my family members account) and it's my only income source.

Should I clarify them in advance and how?

Or what should I change to look it 100% legit

Or it is okay and legally correct what I'm doing?

Sir/Madam
I have availed Housing loan from SBI. I know that I could claim deducted yearly interest as well principal amount at the time of Income tax return. But, other charges like Documentation charges, Legal fee, Valuation fee, Insurance fee, stamps charges and other miscellaneous expenses which were deducted/paid towards this housing loan will be whether eligible to claim Income tax deduction along with the accrued housing loan interest at the time of filing income tax return.

Kindly advise me, Sir. Awaiting your valuable reply.

Thanking you.

Raman Kumaran

Sir,
AS per the notification EPF contribution payment by govt was deferred upto August 2020,under PMGKY scheme how to pass journal entry for the payment .

If both Husband & Wife are Doctors & if wife remains as inactive partner can they both a form a partnership firm and run a hospital in the name of the firm??

Please provide guidance on Clubbing provision & other applicable provision of I.Tax Act.

PLEASE SUGGEST

ANY ONE LINE ANSWER BOOK ON INCOME TAX IN ENGLISH/HINDI