Kollipara Sundaraiah
04 January 2021 at 19:11

Sec 194da lic income sec 44ada filer

Sec 44ada professional income I.t return filer download 26as in f.y 19-20
Sec 194da
Amount rs:104250/-
Income from lic of India
Tds deducted Rs:1043/-
Question:
Above sec 194da amount lic of India Rs:104250/- treatment taxable(other sources of income)or exempted in I.t. act.


v ramachandran

I am a senior citizen having pension and other income OF RS 3.20 lakhs( after availing tax rebate under 80 C, 80D, TTB etc)during durrent FY 2020-2021 . I have done share trading transactions ( delivery and intra day) with a turnover of Rs 76 lakhs from 1st april 2020 till 31st december 2020 earning a business income of Rs 1.35 lakhs. This will offset a carried forward loss of 65000/- from last financial year.
my query is : SINCE THE SHARE TURNOVER IS LESS THAN 1 CRORE AM I LIABLE TO HAVE MY SHARE ACCOUNTS AUDITED BEFORE FILING ITR 3 FOR FY 2020-2021, despite my other income exceeding tax exemption levels ???
I am getting confusing answers from my CA qualified friends. Please quote the rule and kindly help me with a correct clarification. Please reply to : rvrv002@gmail.com
MOST GRATEFUL IN ANTICIPATION
V RAMACHANDRAN
COIMBATORE


amrita kanchan
04 January 2021 at 17:12

PF Password

Hi,

I forget my PF password and lost my registered mobile number. Now when i am clicking select the option of forget password, i can verify my detail by providing Date of birth option. But it is showing wrong date of birth. I think employer has not updated correct date of birth. Now i am not working anywhere. How can i change my password. My old company is closed. So i dont have option to do with old employer.

Please suggest. Thanks


MAKARAND DAMLE
04 January 2021 at 15:54

Tax Audit

Ours is Cinema Theatre having turnover less than Rs.5 cr
However cash is collected towards sale of tickets and canteen which is deposited next day in the bank
Such cash sales are more than 5% of total turnover

My question is whether tax audit is compulsory because all cash receipts are deposited in bank


sagar
04 January 2021 at 15:27

Accounting

Dear sir/madam
How to pass entry for a loss in previous year to current f. y. year in a partnership firm


V Ramesh
04 January 2021 at 15:06

Capital Gains tax EC54

Have purchased an apartment in Dec 2010 registered the property in 2010 but got possession in Aug 2013. For calculating capital gain tax we should refer to the index of the year 2010-2011 or 2013-2014. This is for investing in 54EC to get a Capital gain Tax advantage.

Can you please help clear this confusion?


Madhab Chandra Mandal
04 January 2021 at 13:36

Refund of ITR

Sir, I have submitted ITR 1 for AY 20-21. ITR Processed and AO is received through mail. but refund is not credited to my account. I found that have entered 1 digit extra in my account )i.e. my acount is in IDBI Bank having 15 digits account no. but I entered 16 digits. When I saw service request in Income tax portal it shows refund credited.
Now my question "IDBI Account number consists 15 digits but I entered 16 digits how it is credited."
Is there any other option to get back refund or I may write refund request.


CA Parul Saxena

Our co by mistake make invoices on einvoice trial portal for 3 days i.e. 1st to 3rd Jan...instead of making bill on e invoice portal.
E way bill also prepared on e way bill website what to do?
Whether these bills can now be uploaded on einvoice portal?


Rupesh Jain

goods purchases by us from delhi, but seller make Delivery challan instead of Invoice for delivery goods to UP. Deptt. charges GST and Penalty on Goods value @ 18% GST+18% penalty. under IGST Head
Now can we take input of IGST tax in GST return, if yes, what type of document require for the same


PRAVIN PARSE

If a builder retains 3 flats out of 8 constructed flats in an amalgamated plot of land constructed by builder (own by builder and some other land owner) and he transferred 2 Flats to another land owner as a part of land consideration then what is the turnover for 44AD and how the cost of 5 flats shall be calculated and if do not opt for 44AD then how to show turnover in profit and loss account and what will be the value?





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