There is a registered society being educational institution which is registered u/s 12AA of the Income Tax Act, 1961 is running three schools whose total gross receipt is Rs.45 lacs and is having surplus of Rs.14 lacs ( the applicaiton of income is lesser than 85% of gross receipts)during the year 2020-21, is also eligible to claim exemption u/s 10(23C)(iiiad) whose accounts have been audited. Whether audit report in Form 10B or Form 10BB is required or only independent Auditor's report shall suffice to claim exemption u/s 10(23C)(iiiad). If the audit report is not in Form 10B or Form 10BB then how it shall be uploaded on ITD portal ? Kindly guide.

Sir,
One of the cloth business composite scheme dealer
1.Sales transactions UPI mode(phone pay and paytam and Google pay) for one day all amounts credited by bank account.
1.sales to customers rs:850/-
2.sales to customers rs:1000/-
3.sales to customers rs:1230/-
2.salaries paid to wife and son rs:5000/- and 6000/-
Question:
1.sale transaction amounts total sales single entry or multiple entry accounting passed in books correct procedure.
2.salaries paid to son and wife business expenses claim allowed in it act.

Assessee not a sr citizen has following income for A Y 21-22
Salary after standard dedn and PT Rs.29,240/-
STCG taxable @ 15% Rs.5,79,590/-
Income from Other Sources Rs.32,860/-
Gross Total Income Rs.6,41,690/-
Deductions under chapter VIA Rs.99,700/-
Taxable income including STCG Rs.5,41,990/-

In above case tax liability will be how much ?

Sirs, Is there any way for calculation of LTCG on shares sold in F.Y. 2020-2021 if an income tax payer does not have a record of the purchase prices and dates of shares purchased by him about 12 years ago say in 2007-08 due to closure of his Demat/Trading account with the original retail broking house and transfer to a new retail broker? The new broker has only the prices as on date of transfer and the old broker (i.e. through whom the shares were originally/first purchased) is no replying

Hi Team,

I was working for 4 year dedicatedly in Germany as a local employee there with no connection to India. 4 month back I resigned and Move back to India and started a job here.

Now since I use to get 25 leaves in a year, I was unable to finish 16 leaves and those were enchashed along with my salary. Can I claim deduction for that Leave Encashment under 10(10AA)? Also I have a proof as a salary slip for the same. Will that work if I need to upload it somewhere?

Sir,
I have received Cash from Different Individuals & Relatives in my Daughter Marraige. Which my Daughter has given to me and asked to put fixed deposits and with the interest received to take care for my medical expenses. Whether it will be taxable. or should i get a gift deed from my daughter for the cash received.

Kindly advise.
Nagarajan N

Dear Sir,

ITR has been processed with demand but the related intimation has not been received as yet. What to do in such a case so that INTIMATION 143 (1) should be issued to us ASAP.

PLEASE GUIDE ME AND OBLIGE.

Dear Experts,
I had applied for Refund. My refund has been rejected and an order has been received under RFD 06 to Submit Undertaking for PMT-03 for inadmissible amount.
Please guide what I do as there is no inadmissible amount out of refund claimed. And why they are asking for this ?

Hello Respected CA,

I hold some Foreign stocks Listed in Nasdaq. Now since it is a foreign holding I need to fill schedule FA Table A3.

Table A3 have 2 additional details. 1) For capital Gain(Total gross proceed from sale or redemption of investment during the period) 2) Any dividends earned (Total gross amount paid/credited with respect to the holding during the period)

Now as per the document, Schedule FA details need to be entered as per Accounting period and for which it is Jan - Dec since US follow calendar year. Also dividend received were already tax deducted. But since we need to show the dividend in "Schedule OS" with special rate and it is DTAA case where we also need to show quarterly breakup (in point 10).

Query is Should we show dividend of April - March or Jan - Dec?
Also Schedule FA should we add Jan - Dec or April - March dividend?

I want to file ITR of my deceased father. I went to register as representative assesse on the new portal . It asked for number of legal heirs , which is 3 in our case. It also asks to attach pdf of notarised affidavit before each legal heir details. I have the following queries:

1. which notarised affidavit is to be attached, also is it mandatory to attach ?
2.In the bank account details of legal heirs , is it necessary to add all the bank accounts of all the legal heirs?