Sir,

A Commercial property was registered in the name of a company which was actually given for another person or establishment for monthly rentals. Whether that income received by the company would be assessable in house property income?. Again in respect of the same house property whether the company can claim depreciation or connected expenses?.

Dear All,

My query is as follows:

1) Besides salary income and capital gain on sale of shares, Mr A earned commission of Rs. 76620/- from sale of mutual funds to his clients during FY 2020-21. This commission is directly credited to his bank account.
2) How to show this commission income in ITR? Which ITR to be used?
3) Can we show it under Commission business without books of accounts?
4) Can we claim some expenses like mobile bills, conveyance?

Kindly guide.

Thanks & Regards,
Suraj

I took VRS from BSNL on 31-01-2020 under VRS 2019 scheme. The Gratuity payable was deferred till I attain the age of superanuuation ( i.e. 28-02-2021) and i received my gratuity payment during March 2021.
Department of Telecom released by Gratuity of 20 Lakhs with interest of Rs.1.65 Lakhs. Is this interest
paid on deferred payment of Gratuity is taxable. If so under please quote the Section under which Income Tax is to paid. If it is exempted from paying Income Tax, please quote the section under which it is exempted.

Rural Agriculture Land situated outside municipal area (i.e more than 8 k.m) is not a capital asset as per sec 2(14),

Question is, this land will be sold to a PVT Ltd Company under sec 63AA of The Gujarat Tenancy and Agricultural Land Act, 1948 and after-sale , the land will be converted into non-agriculture by PVT Ltd company and all costs bear by the company itself.

Now can I take the above transaction cover under Sec2(14) or I suppose to pay long term capital gain?

My client has earned profit of Rs 2,50,000 from Fno trading in her mother's Dmat. Now further profit will be taxable so can he transfer capital of Rs. 10,00,000 from his mother's Dmat to his own Dmat for trading in FnO to save tax?
Is there is a possibility of notice from income tax department in future due to this?
If yes , then can my client say that this is a gift from Mother to son and hence exempt from tax.

Sir,
A partnership firm working in two partners.purchases of agriculture land rs:10 lacs value name for 1st partner.but payment rs:8 lacs 1st partner and rs:2 lacs 2nd partner.
Question:
Purchase of agriculture land rs:10 lacs value show in partnership firm and partners individual account in it act.

Dear Sir/Madam,
We have made mistakenly payment to challan TCS 6CR intead of TDS 194Q and vice versa for the month of July 2021. What shall we do? Should we pay fresh challan along with interest or can both be setoff against liability of each other.

Please suggest the course of action.

Thanks

We have sold to a party Rs199500/ Goods in cash in aug2021. The same party again wants to purchase Goods from us in cash of Rs199000/ ? Can we sale them in cash? Can we accept cash against sales per month? Please advise?

As per new Income Tax Portal ITR 5 is not showing for filing (for Partnership Firm) .
Whether any one has filed ITR 5 on the NEW Income tax portal.
Please advise.

Two Partner combined purchase a land in their own name,and construct a factory.
Now in partnership IT return whether the land have to be shown or not. As land is not purchase in the name of factory.

Please suggst