Respected Experts,
We have a client engaged in constriction of Residential building. GST is paid as and when agreement is done with buyer. In case of GST, Turnover is on agreement basis.
But how to show turnover in Income tax ? It should be same as per GST on agreement basis or on the basis of WIP ? is it allowed if turnover as per both acts differ ?
Kindly guide.

WHETHER THE BROUGHT FORWARD LOSSES AND UNABSORBED DEPRECIATION CAN BE UTILISED FOR SUBSEQUENT YEARS IN NEW TAX REGIME.
INTIMATIONS COMING UNDER INCOME TAX ACT FOR CLAIMING BROUGHT FORWARD LOSSES AND DEPRECIATION UNDER NEW TAX REGIME. DO ANYBODY FACING THIS ISSUE?

Sir
What is tax treatment on Medical Reimbursement bill received ( for his / family member medical treatment) by Govt Employee from his Employer ( Govt ). Sir any exemption ?

Sir,

One my friend is salary employees (lecturer) from college, but he attended as a examiner during the FY 2020-21 one time and received amount of Rs. 270/- after deducted TDS of Rs 30/- under section 194JB. he also doing trading share during the year 2020-21 he some short term gain.

Kindly guide us which itr return applicable and tds deducted under section 194JB where is shown Rs. 270/- received.

Thanks & Regards.

My father is senior citizen having consultancy income, Interest income, Pension Income and in FY 20-21 sold a piece of Land 50 Sq. Ft. and construction remaining area from 250 sq ft in the same FY. Sold value is Rs. 28,00,000/- and that was purchased our great grand father.

So, My question is which ITR form to be filed for same FY 20-21 return and how will show this plot selling value and construction. Please advice at the earliest.

I have received inherited residential flat of my father which was purchased at approx Rs. 18000 (Eighteen Thousand) in 1980 in mumbai, area 265 sqft. In 2007 the building got extended and so the flat extended by 110 sqft. I have transferred 50% share of my flat on my wife's name, now we are joint holders. If I sell the flat for 65 Lakhs how much tax will be calculated on sale of inherited property. Request you to kindly guide.

"In Schedule BP, sum of values entered from 36(iv) to 36(vii) should be equal to sum of "Net profit" declared at Sl.No. 64(id) and 64(iid) in Sch P&L" error shown while filling ITR-3 in no Account Case. I have updated to utility version of 1.0.26 on 18/12/2021. In the utility the validation is successful. But while uploading online in the site above error is coming. This is also appearing as validation rules at SNo 218 of "https://www.incometax.gov.in/iec/foportal/sites/default/files/2021-06/CBDT_e-Filing_ITR_3_Validation_Rules_V_1.0.pdf" . According to me income at sr 36(iv) to 36(vii) has no connection with income at Sr 64 above. Please guide me. Thank You.

Last year 2020-21 we are proprietorship and turnover was more than 10 crore. This year we are partnership firm. My question is whether 206 c (1H) is applicable to new firm or not.

In Schedule BP, sum of values entered from 36(iv) to 36(vii) should match with sum of “Net profit” declared at Sl.No. 64(id) and 64(iid)

getting this error in online filling - No Presumptive Income, Only Commission Income without books of accounts being maintained

Dear All
One of my client has only rental income non tax audit case. He was a partner in a partnership firm, which is a tax audit case. My client resigned as partner as on 31-03-2021. He has not received any remuneration during the said financial year. So kindly let me know the due date of filing ITR - is it 31-12-21 or 15-02-21. Please let me know