Dear Expert,

I have intraday loss in the last financial year, which was incurred due to trading in futures..
Can I use ITR-2 to show the same as there is no specific mention for speculative loss/profit..

Kindly clarify

Dear Experts, I am to file ITR for our partnership firm. In the year ended with 31.03.2021, there was no business turnover, only expenses which are to be carried forward to the subsequent year. When I tried to file ITR-4 the system is not accepting to file zero TO. Any other ITR Form or any other mode to fill a zero TO and business loss.

I bought a car in Oct 2017 for Rs 16 lacs and sold the car for Rs 11 lacs in Nov20? Received Rs 11 lacs in my bank account.
How do you show this transaction in IT return? Where do you enter the details for the same?

Sir
what is 4th proviso of u/s 56(2)(x)(b)

Please explain

Dear Sir,

Can a private limited company who deals in manpower consultancy business invest in shares or mutual funds just like an individual person. Are there any restrictions.

What will the Taxation impact if shares or mutual funds are sold in future years.

Please help me in this matter.

Regards,
Divyesh Jain

Dear Expert : A Lorry Contractor does not has own lorry , he takes on hire from others and do the lorry service, an filling declaration for no deduction of TDS u/s 194C on freight u/s 194C (6), it valid declaration ? Is it tax should be deducted being a contractor or not since he does has own lorry or less than 10

Mr Arjun is getting annual pension of Rs.4,00,000. In addition to this he has long term capital gains from sale of shares Rs.50,000. Kindly clarify his Income Tax liability.

KINDLY CONFIRM WHICH TDS RATE 2% /10% WILL APPLICABLE ON IT DESIGN & DEVLOPMENT SERVICES ?

My relative filed ITR for AY 21-22 one month back as per 26AS. He is supposed to get refund of around 25K. He was checking this new AIS (annual information statement) yesterday. AIS has interest from income tax refund about 4K (which he received for AY 20-21) which is not there in 26AS. So, should he file revised return now including this interest on income tax refund or leave it and wait for any notice from income tax department?

B purchases residential plot from C less than Govt Stamp Duty value ( i.e Purchase Consideration Rs 40 Lakh & Govt Stamp duty Value Rs 50 Lakh )
1) Then as per U/s 56(2) (VII) Diff of Rs 10 Lakh will be added in other income in the hand of B ?
2) If B Show such transaction as stock in trade instated of capital assets , then U/s 56(2) (VII) provision is applicable or not ?

A is father in law of B.
If B Sold same residential plot to A less than Govt Stamp Duty Value( i.e Sale Consideration Rs 40 Lakh & Govt Stamp Duty Value Rs 50 Lakh ).

3) Then as per U/s 56(2) (VII) Diff of Rs 10 Lakh will be added in other income in the hand of A ? can A take benefit u/s 56(2)(X) relative ?

4) Also As per U/s 50C - B has to pay any capital gain ? Because B purchases such plot to Rs 40 Lakh &sold of Rs 40 Lakh but as per u/s 50C Govt Stamp duty value Rs 50 Lakh will be considered as sales consideration .

sir please explain