real esate brokerage recd...23 lac.........income under 44ad / 44ada
if 50%....11,50,000
sub-brokerage paid by chq.....15lac

can we show income below 5 lac.....after audit..???
any other ...solutions / pre-cautions

atul -- 9082921706 eml- look4u@rediffmail.com

Respected Sirs,

We have been running few proprietary concerns and few private limited companies and all are under 44-AB with the point of view of sales turnover. What will be the due dates for ITR and TAR in such case.

And if we are not under 44-AB, what will be the due date for ITR ?

Please guide me and oblige.

Yours Tarique Rizvi

982 1630 130

Assessee a senior citizen having business loss of Rs.1,78,287/- which is getting set off against Income from Other sources of Rs.1,99,452/-
From income from other sources interest on f d is Rs.91,855/- which qualifies for deduction u/s 80TTB

My question is deduction u/s 80TTB will be available for Rs.50,000/- or Rs.21,165/- (199452-178287)
Income tax online utility computes deduction at Rs.50,000/-

Dear Sirs,
One of my relative have received a gift from her father which was purchased during the year 1965-66. My query is for accounts
purpose we have to consider S.R.Value as on date of gift or the value of purchase deed of 1965-66, or INDEX VALUE as per Income tax act. Please give your valuable advise.
Thanks in advance.
K.B.Nagesha rao

While working L T C GAIN, in sale of land, jantri is not declared. What is Best alternate for considering cost as on 1.4.2001 ???? Pl suggest 🙏

Dear Sir,

My personal balance sheet is showing cash in hand of around Rs. 4 lacs and I want to reduce the amount. I do business under my name as a proprietor.

I want to reduce the cash balance by showing personal drawings in cash. Is there any limit in showing Personal drawings amount. My return is filed U/s. 44AD.

Please help me in this matter.

Regards,
Divyesh Jain

Sir, One of our client has purchased land in the year 1976 and sold the same in the year 2013-14. The Cost of Purchase was Rs 5000/- per bigha. In the year 2010-11 the land came into the municipal limit of Nagar palika and due to rapid industrialization the DLC rate of Land came to Rs 7000000/- in the year 2011. Now in the year 2013-14 the assessee sold the land @ Rs 9500000/- per bigha. My Query is can we take the difference in cost of purchase and DLC rate as on 2011 Rs 7000000-5000 = Rs 6905000 as cost of improvement. or any other way we can increase the cost. since our case is unde scrutiny for the A/y 2014-15 and we have not filed the Income Tax return for that year

If a company is engaged in construction activity. Every month he is raising invoice to client and submitted it for client certification. certified amount may vary subject to certification. In this case-

How will treat this revenue in books of accounts. Un certified revenue also consider for company's revenue?

Tax invoice at which stage to be raised? After certification or at the time of submission of bills to client.?

Please help to resolve this query

Issue coming in STCG (Equities/STT paid) Tax calculation. This problem was not there in Offline Utility ver 1.0.9,
but started from Ver 1.0.10 onwards. The STCG (Equities/STT Paid) is taxed at 15 percent. This is showing correctly in CYLA, BFLA but amount not showing in Sch Special Income. Again the STCG @ 15% is not calculated in Part B-T1. In PartB-T1 computation the value is shown in row/item 3 under Capital Gains -sub item STCG @15%, but is not showing in calculation in item 10 (Income chargeable to tax at Special Rate) and again not showing in Item 13 -Income which is included in 12 and chargeable to tax at special rates. The result is that the whole STCG is added to the income (ayt applicable rate) instead of charging it at 15 percent and then adding.

Raised grievance in early Sep21 in Portal but still problem exists. Is there a solution to this?

CAN A SISTER GIFT TO HIS BROTHERS HUF . HUF WAS CREATED BEFORE 2005.