SIR IN PREVIOUS YEAR OUR COMPANY HAD LOSS BUT IN CURRENT YEAR DUE TO EXCHANGE DIFFERENCE THE PROFIT ARISES. SO TAX IS CHARGED AS PER MAT PROVISION. SIR I HAD QUERY THAT THE PROFIT IS NOT ACTUAL PROFIT THIS PROFIT IS DUE TO FLUCTUATION IN EXCHANGE DIFFERENCE SO THERE IS ANY PROVISION IN mat REGARDING THIS POINT THAT NO TAX IS CHARGED ON MAT

I AM LIC AGENT , IN F.Y 2020-21 I RECEIVED COMMISSION AMOUNT RS. 5,87,000. AND TDS DEDUCTED FOR THAT AMOUNT. I AM NOT MAINTAIN ANY BOOKS OF ACCOUNTS. WHICH ITR SHOULD I FILE?
LAST YEAR I FILED ITR 3, BUT DEPARTMENT SEND ME NOTICE REGARDING 139(9) DEFECTIVE RETURN, IN THAT NOTICE THEY WANTS PROFIT AND LOSS A/C AND BALANCESHEET. BUT I HAVE NO OFFICE AND NO CLAIMING ANY EXPENSES. COMMISSION RECEIVED DIRECTLY DEPOSIT INTO BANK. SO, I AM IN DELEMMA. WHETHER I FILED ITR 3. IT IS ATTRACT TO DEFECTIVE U/S 139(9) OR IF I NOT FILED IT LEAVED ME PENALTY OR INTEREST.
WHAT SHOULD I DO? PLEASE HELP.
I AM NOT YET MAINTAIN ANY BOOKS OF ACCOUNTS.

I have submitted the return of income for the A.Y. 2021-22 u/s 139(1) as well as u/s 139(5) on 15/06/2021 on behalf one of my clients. The said return has not yet been processed even long 3.5 months had already been passed. Can I submit return further u/s 139(5) of the said client? Regards, Tarak Kumar Roy

I have earned income for solving accounting subject doubts for a homework help company. TDS under 194J has been deducted. Please tell me the nature of business to be selected in ITR-4.

Daughter (earning member) and Mother (housewife) jointly own a property for which the loan repayment and rental income were managed by daughter. Now the loan is cleared and also the rent agreement is expiring. Now can the other joint owner (housewife) enter into rental agreement and collect the total rent? Tenant who is paying rent is in abroad and his parents are staying in the rental flat. He did not ask for any rent receipt and understand he is not showing to his company. If so what is the legal implication on the daughter who showed in her ITR about rental income and loan repayment till date.

Mr A & Mr B purchased a land from Mr X & Mr Y and the agreement value is Rs 2 Cr... My A & Mr B has to deduct TDS @ 1% on value of consideration and mention the name of Mr X & Mr Y in different FORM-26QB...

But, Mr A has wrongly mentioned name of Mr X only in FORM-26QB and deposited the tax. Now he want to fill different FORM-26QB for Mr Y...
So, Plz guide me, whether Mr A can do this or not...and If YES then what about TDS payment made...???

Dear Sir/ Madam,
New firm which was established in oct 2020 and there is no any ITR Return file due to newly firm established, then in this condition if customer withdraw cash from there bank account above Rs.20,00,000/- then how to work section 194N? can bank deduct tds Above Rs.20 lacs tds @2% and above 1 Cr tds @5% . Please give some guidlines and any notification

Hi
We need to pay fee for my brother medical collage 30 lakhs through rtgs or dd. We are getting money from relatives via transfers from bank account to my mother account. Will those transactions attract IT NOTICES . Please guide me

Thanks

Sir,
Assess rental income received from commercial building properties
Question:
Assess sec 44ad 8 percent scheme opted in it act.

One of my friend not submitted ITR in AY 2020-21 FY 2019-20. He is doing business for supply labours in the factory. But submitted ITR for AY 2021-22. What to do now? Pls advise