I sold my holdings of unlisted shares and getting LTCG. Now, I want to purchased NHAI Bonds. These bonds are exempt u/s 54EC. So, can I claim exemption for tax on LTCG u/s 54.

Resident individual takes a Forex card from niyo for foreign travel. And he given his forex card to brothers wife. And she goes to America. And use the forex card in America. She has received funds from his relative who is living in India. Same amount cash withdrawal from ATM In America rs. Approx. 6.60 lakh. What is consequences of these transactions under income tax. And what is the treatment in accounts please guide.

Sir,
A partnership firm cash loans rs:19,000/- * 20 different persons amount rs:3,80,000/- received.(un secured loans)
Question:
A partnership firm cash loan received persons amounts interest pay amounts tds applicable in it act.

Hi,
I have a query for ITR for FY 2020-21. Till date i have always used ITR-1 form. Since last year, I have started doing equity trading. Also, i have sold some mutual funds. Following are gains made:

Equity trading short term capital gain = 10000 Rupees
Long term capital gain by sale of mutual fund units = 40000 Rupees
Dividend earned from equity holdings = 2000 Rupees
Interest from tax free bonds = 20000 Rupees


Apart from that I have salary income and interest from Fixed deposits. Please advise if i shall continue to use ITR-1 or any other ITF form I should use

Error Discription
If Assessee is not liable to maintain accounts as per section 44AA, then clause 6 of Balance sheet and clause 61 to 65 of profit and loss account cannot be blank i.e 64 and at least one of 61, 62, 63, 65 to be filled .

HOW TO DEAL WITH THIS ERROR?
MY CLIENT IS PARTNER IN FIRM. WHICH DETAILS NEED TO BE FILLED FOR THE SAME?

Hello,

Can i revised my income tax retrun for the AY 20-21, As i received the notice for "Adjustment u/s 143(1)(a)" HRA.
Exempt Allowance Sec 10(13A) is more than minimum of :a) 50% of (Basic + DA) orb) HRA .Hence amount exempt u/s 10(13A) is recomputed accordingly.
KINDLY HELP

For business in Futures & Options in share market can return of income be filed on presumptive basis u/s 44AD and by declaring profit @ 6% of turnover ?
If actual profit is more than 6% still profit can be shown @ 6% u/s 44AD ?

I have a continuous service of 4 years 8 months in a organisation. During the Full and final settlement employer mentioned the gratuity amount as Ex-gratia, employer confirmed (orally) that as my service was 4 years 8 months, they have paid my Gratuity as Ex-gratia and this amount is also tax exempted.

But, in the Form-16, tax exemption not considered, immediately, I have asked my employer (through mail) to revise the Form-16, but, employer not responding.

Kindly advise,

1) shall I consider my Gratuity amount (which was paid as Ex-gratia) in my tax return

2) if not possible, how can I get my tax exemption.

Sir,
It assess net profit as per profit and loss account rs:5,50,615/-in f.y.20-21
Add: estimated personal expenses rs:10,000/-(personal expenses rs:1,50,000/- debited to capital account
Add:sadar (refreshment) expenses rs:5200/-debited to profit and loss account.
Total taxable income rs:5,65,815/-show in itr in f.y.20-21.
Question:
Assess sadar( refreshment) expenses and personal expenses not allowed in it act.

Hello, Sir/ Madam
I have a doubt about filing of Form 10 IE for Salaried persons is Mandatory?
If its mandatory, then Salary person is not having any business income or profession income. So, Why not form 10 IE shown in Person don't having business / profession income.
Because I file my client return, Salary person and I file form 10 IE. this form show only in Person having business/ profession income and some mandatory field is selection of Sector or sub sector. If I m salary person so why I choose for sector or sub sector.
Please help