Assessee is having Salary income and also has engaged in Intra day trading in shares (Speculative transaction). The details are as follows:-
1. Salary Income - Rs.6,50,000
2. Speculative transaction details:-
Sale value - Rs.3,98,995, Purchase value - Rs.3,99,374. Speculative Loss - Rs.379.
Turnover - Aggregate of the Positive and Negative difference - 2462.
Turnover has not exceeded 1 crore. Turnover less than 1 crore and profit less than 6%.
1. Whether this transaction will be liable to Tax Audit on account of profit less than 6%?
2. Suppose the assessee is willing to declare 6% profit, then on which amount this 6% is to be calculated? Whether on Rs.3,98,995 or Rs.2462 (i.e aggregate of the Positive and Negative difference)

Sir,

Son took a-year internship in a company in 2018-19 and they deducted TDS@10% and issued Form-16A Nature of payment showing 194J. Which ITR form should be used and under which head the income should be shown, whether Fee under 234F is applicable if it shown in other income?

For senior citizen can the payment of tax approx. on total income including LTCG ( Immovable Property - sale of a flat ) of approx. Rs. 12 Lakhs in FY 2018-19 (19.6.2018) be done at the time of filing returns (31st July 1919)
or it has tobe done earlier ?
and if so , what are the Penalties and Fines ?
I am a senior citizen

The client has started PG business. In this case Section 44Ad will be applied or not ?

Dear Sir/Madam,

While filling Income Tax Return ITR5 of BOI i am facing following error in JAVA utility.

":Percentage of share (if determinable ) should be numeric,non-negative,% decimal upto 2 places and should be between 0 to 100."

I tried all way but this error is still there.
Please guide

My friend is a tour operator and registered under GST as normal taxpayer. His tour package include booking hotel accommodation, food & taxi service through 3rd party. How could he comply the rules with respect to input-output tax and what would be rate of tax, applicable?

According to Notification No. S.O. 1213(E) dated 8 March 2018 the limit of Gratuity exemption exceeded to Rs. 20 Lakhs with effect from 29 March 2018..
My question is whether the date of effectiveness of notification is same for Govt. and Private employees
If any other notification or clarification is issued by the CBDT. Please guide.
With regards
Subhash

My son took up job abroad and left in March 2016 after working two years in a company ..He received EPF accumulated of 274500/- with tds 10% deduction in August 2018. He is NRI for AY 2018-19 & AY 2019-20 What shall be Tax implication for AY 2019-20.. Under which head of income to show in ITR and if standard deduction can be claimed of 40000/- for same, if shown as profit in lieu of salary under salary income.

GROSS RENTAL INCOME RS 64,80,000 LESS MUNICIPALITY TAX RS 1,59,603 Balance Rs 63,20,397 Less 30% Deduction Rs 18,96,119 Balance Rs 44,24,278 The land lord has paid no installment of advance tax hence I workout @ 40% tax liability 40% of Rs 44,24,278 = Rs 17,69,711 Please guide me and oblige what to do in such situation. Whether will have to be paid Rs 17,69,711.

Some one has advised me to claim remuneration to working partners and interest on capital also.

Dear freinds & Professional colleagues, I have received a bill of Rs.35000 from ASSOCHAM (Trade Association / https://www.assocham.org/) as sponsorship fees so tell me whether my company have to deduct TDS on this bill or not if yes then what is rate of TDS..??