One of my relatives did some intraday stock trading in last financial year, he is salaried, working in a company (office job: 9 AM to 5 PM).

He pays monthly broadband bills of his residential premises issued in his name via online mode but during market trading hours he was in the company office. However, for learning and planning of the intraday trades, he utilized the internet broadband connection of his residential premises.

Can he claim the expenses incurred towards monthly broadband bills of his residential premises?

What other expenses can he claim besides these expenses and apart from "Stamp duty", "Brokerage", "Securities Transaction Tax (STT)", "IGST", "SEBI turnover fees" & "Exchange transaction charges", with respect to this speculative business (intraday stock trading) income / loss?

Is it necessary to have proofs or invoices of all such expenses?

If some payment was made in cash for repair of laptop or buying its accessory utilized to learn and plan the intraday trades but no invoice received, can he avail this expense?

Please respond in detail in an elaborative manner.

The basic of Mr X is 1 lakh PM. He has paid rent of 120000 (20000 om for 6 month ) for rest of 6 month he worked from home .
While calculating HRA exemption one of criteria is
Rent Paid. 1.20 lakh
Less 1/10 basic 1.20 lakh
12 L /10 .
If 1/10 of whole salary is calculated he is not getting any exemption .
Can he consider 6 months basic ( 6 lakh ) as he has paid HRA of 6 months only . Is this logic is correct ? Then he is getting exemption of 60000 . ( 120000 less 60000 )
Please guide

Sir,
It assessee (son)property gift received from father value rs:25 lacs.registration and stamp duty charges paid by son.
Question:
Above mentioned transaction show procedure for son in accounting books entry and it returns

Assessee had invested through a broker by giving liquid funds & shares as margin money & broker was trading on behalf of the Assessee by giving regular returns.

Later the broker got bankrupt & all shares along with liquid funds were stuck with the broker.
As the broker has pledged the shares for trading all the shares were lost by the assessee as there was no recovery from the broker.

Later the assessee alongwith other sufferers from the broker filed a complaint with NSDL regarding the matter against the broker house.

Against the same an lumpsum amount against the total value as on the date of broker becoming brankrupt was released by NSDL which is hardly 25% of the total loss.

So, how to account for the amount received from NSDL in the hands of the Assessee and its tax implications.

Query
1. whether the same will be adjusted against liquid funds or shares?
2. Capital gains / taxes arising on the same and at what value ?
3. Can this be treated as exempt as compensation received from NSDL ?

When I try to upload my return, I get the error "Schema error occurred while submitting your form, please try later" This is while using V 1.1.10. How do I overcome this?

My mother is a pensioner who gets a pension from the Post Office with no HRA. She lives in a rented accommodation in Kolkata. I am trying to claim 80GG for her, but I get an error "Deduction u/s 10(13A) and 80GG cannot be claimed for the same period", when the entry against Section 10(13A) is 0. Please clarify

I have been staying in a property (flat) which was owned by my mother and built in 1970s. My mother passed away in 2019 and I continued to stay in the property. In the WILL which she made, mentioned that the flat in which I was staying, to be given to me. Other flats to my brother and sister. The Will is yet to be executed and no mutation of property is done as of 31Mar22. Do I need to show the property as one of the assets belonging to me in Schedule AL (if income more than 50Lacs)?

Sirs,
I have completed property sale in FY2022-23. As I understand, ALL the sale related proceeds & TDS need to be shown in FY2022-23.
However, I received a token amount in FY2021-22, wherein TDS (1%) was witheld. This appears in my 26AS statement fof FY2021-22.
My question is regarding 'how to show TDS deducted in FY2021-22'. Should I just not show this TDS in FY2021-22 filing, and include it in FY2022-23 filing?
OR
There is a provision to actually move FY2021-22 TDS entry to FY2022-23 (on the IT eFiling site).

Thank you

Hello si
Please suggest what is the nic code for trading in inorganic chemicals while registering a firm in MSME. nic code is available in this category only in manufacturing head but we are trader. There seems no specific code for this category
Thanks .

Dear Expert,
Please guide on below mentioned issue:-
I am a private employee and I contributed Rs. 35000/- in NPS Tier-1 in FY 2021-22. In, my ITR, I am showing the same U/s 80CCD(1) to claim deduction. But in eligable amount it is showing only 31667/-.
May you please guide, where I am doing mistake ?

Thanks