Hello,

Can any one help to prepare pnl of following details-
Buy Value Sell Date Sell Price Sell Value Realized P&L
-8,15,856.50 34,58,199.80
3,15,83,718.00 3,07,67,861.50 -8,15,856.50 42,74,056.30
Buy Value Sell Date Sell Price Sell Value Realized P&L Turnover

Trading Account of Futurre and Option (F&O) for the year ended 31st March 2025

Particulars Amount (Rs) Particulars Amount (Rs)
To Purchases By Sales
By Gorss Loss
Total - Total -

Profit and Loss Account for the year ended on 31st March 2025
Particulars Amount (Rs) Particulars Amount (Rs)
To Loss from F&O - By Net Loss transferred to Capita Account 1,41,350.00
To Mobile and Internet Expense 48,396.00
To Brokerage & Other Expense 86,434.00
To Misc. Expenses 6,520.00


1,41,350.00 1,41,350.00

Hi, Experts please guide.
RHP 1 (Residential House Property) Bought - 22/06/2021 - Rs. 60,00,000
RHP 1 Sold - 12/12/24 - Rs. 1,00,00,000
LTCG as property sold after 2 years.
Capital Gain as per Old Taxation 20 % with indexation - Rs. 31,29,338
Capital Gain as per New Taxation 12.5% - Rs. 40,00,000
I have purchased RHP 2 on 03/03/25 for Rs. 50,00,000 and want to claim exemption under section 54. Now when reporting in ITR, I should take amount of deduction claimed as 31,29,338 or 40,00,000?

Also, if the RHP 2 was of value 38,00,000. Then could i take complete exemption under section 54 by showing property in old taxation?

Thanks

Sir, one of the assessee has business income (Trading of goods) which was put under 44AD, he also has the speculative business (F&O Transactions), which we are reporting as (+)positive and (–) negative values in the income tax returns. However, when I check the Cash collections and Cash payments which was done from the trading of goods business it is more than 5% to the total turnover and more than 5% to the total expenditure, “totals” here means the trading of goods turnover and speculative business turnover, Now the question is, do I have to get the books of accounts audited u/s.44AD, as I am not satisfying the proviso’s to the clause (a) of section 44AD.

Dear Sir/Madam , My company purchased a projector amounted to Rs. 61,200 including transportation charges of Rs.1000. Does company need to deduct TDS on this ?

If the assessee has opted for presumptive scheme u/s 44AD for Real estate business and also having commission income u/s 194D for which it is showed under the head of other source
So whether the income tax return shall be treated as defective of it will be processed as income of 194D is shown under other source?

WHAT IS THE PASSWORD FORMAT TO OPEN NOTIC ATTACHMENT.

I had purchased 1000 shares of a company in March 2024 and sold them in May 2024. After the death of my father I inherited 5000 shares of the same company in October 2024 which my father had purchased in the year 2019. For computation of capital gains, what will be the cost of acquisition of the shares I sold in May 2024.

A person is a shareholder and director of an Indian Pvt Ltd company (holding percentage 90%)
That Indian Pvt Ltd company is a holding company for a foreign subsidiary (100% -wholly owned subsidiary)
The person has the signing authority for the foreign bank accounts
Query is only disclosure under Column E of schedule FA is required in ITR is required as he has the signing authority or Disclosure under Column B of schedule FA ( details of financial or beneficial interest in entity would also be required)

DEAR SIR,

ONE OF MY CLIENT ENTERED INTO JOINT DEVELOPMENT AGREEMENT IN THE YEAR OF 2020 FOR DEVELOPING AND CONVERTING INTORURAL AGRICULTURAL LAND TO NON AGRICULTURAL LAND. THE AGRI LAND WAS INHERITED PROPERTY. THE DEVELOPER DEVELOPED THE AGRI LAND AND TRANSFER TO MY CLIENT NAME IN THE YEAR OF 2022.

HE SOLD THE SITES IN THE YEAR OF 2024.

IN THIS SITUTION HOW TO DETERMINE COST OF ACQUISTION AND YEAR.
BEFORE 2020 OR 2022

THANK YOU SIR ,

REGARDS

If purchase of Rs. 4,00,000 is done from single party and if payment of less than Rs. 2,00,000 is made in current financial year and remaning amount is payable in current financial year and paid in cash in next financial year.
Then whether penalty u/s 269ST shall be applicable considering it as single transaction?