Respected Sir/ Madam,
My father is a senior citizen, retired nationalised bank employee. His yearly Mediclaim amount is automatically deducted from his pension account for group health insurance scheme for retired employees. The premium is completely born by retiree with no employer contribution from deducting from account.
Thus, the insurance policy in my father's name. Can I claim deduction under section 80D, as per paying premium for senior citizen parent Mediclaim? I contribute towards my father's / family expenses, thus, indirectly I am paying premium, though the policy / account statement is in my father's name due to reasons as mentioned above.
Kindly help.
Thanks in advance

I am a director in a PVT company during FY 2019-20 from Sept to March 2020
I was getting salary from my previous employment till August 2019.
My query is that for filing IT Returns for AY 2020-21 what ITR should I choose

During last year as a director of that company i have not received any fees( Last FY Loss )

Thanks and Regards
Suresh R

Please solve this case study.
A property was purchased by family members in a company in 1992 for 5 lacs. The company went into liquidation in 2020 and the members of the same family get a share of the property as per there shareholding.
SDV in 2020 6 crores. What will be the taxation in the hands of shareholders. Will it be exempt as the shareholders are of the same family who was at the time of purchase?

Whether Income earned by farmer producer companies can be considered as Agriculture Income and claim Exemption u/s 10(1) of Income tax Act.
Whether MAT is applicable for Producer Companies?

SIR
We are GTA (Not Opting GST 5% Or 12% ) and running the business under REVERSE CHARGE BASIS. Our party will pay GST on the services to be provided by us.
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During the last year (2019-20), We had issued the sale invoices to our party on the basis of FORWARD CHARGE MECHANISM by charging GST @ 12% as requested by the party. We collected the same from Party. Party accounted the invoices in their GST Return whereas we failed to do the same due to lack of knowledge of accountant. Also the party notice from department for that ineligible credit.

Now Party asking GSTR1 Returns with us. Hence, we want to account the sale invoices during the current year. Can we do it? If yes, Will it clear the issue of Party?
OR Can we add the sales details in Annual return (2019-20)?
Plz Clear my doubt
thanks in adv

Hello all
Pl tell the accounting entry for adjustment of floor sale to the builder in collaboration in the Books of owner of the property.
Kindly reply.
Regards.

WHAT IS TAX IMPLICATIONS IF DAUGHTER IN LAW GIFTS SHARES TO HER FATHER IN LAW ?

WHETHER TAX WILL BE IMPOSED ON DIFFERENCE OF PURCHASE PRICE AND TRANSFER PRICE TO DAUGHTER IN LAW ? OR TAX WILL BE FULLY CHARGED TO FATHER IN LAW WHEN HE WILL SELL THE SHARES ?

An individual gets PF withdrawn amount of Rs. 70000. TDS deducted u/s 192 @ 10%. There is no breakup of employer and employee contribution so he is reporting the entire amount as taxable.

While filing Income Tax Return, income reported under salary. The form is deducting standard deduction of Rs. 50,000 from it. Whether this will be applicable in his case?

what is the GST % on exporting non basmati rice from india?

I am a merchant, I am trading between manufacturer to buyer.
What are the taxes applicable on exporting non basmati rice exclude gst? and its %?
what is the custom duty on exporting nonbasmati rice?

please guide

My wife is working in Apollo Hospital. She was a DNB (Doing Masters) here from April 19 to October 19. Then after completion course she joined here as Employee in Dec-19. During April 19 to Oct-19 she was getting stipend and from Dec-19 to March-20 she got salary. During ITR filing April-19 to Oct-19 is considered as 194J being professional fee and Dec-19 to March-20 is considered as 192 being Salary. So please guide me how to file ITR as 192 and 194J is coming in same assessment year. I have to file ITR in ITR-1 or ITR-4.