My father has received LIC maturity amount. The co has deducted TDS@1% u/s 194DA. Is it mandatory to disclose this amount in his ITR? If so, what is the applicable rate of tax on such amount or is there any exemption available on such amount...?

If one uses ITR1 instead of ITR2 to efile income tax return, will there be any penalty/fine? Kindly note, that there is no difference in tax obligation in both the forms and full tax has been paid.
The fault is only technical in nature as amount of LTCG from redemption of ELSS units
is much below the thresh hold of Rs. 1 Lakh and therefore ont taxable.

Sir,
I want to declare profit u/d 44AD, whether I would be eligible to file ITR 3 For FY 2018-19.
Sir , In ITR 3 of FY 2018-19, there is Column given to declare profit under presumptive income u/s 44AD

Hi,

For AY 2019-20, which ITR should be file for Income from Commission from Life Insurance Agency where commission Income is more than Rs.60000/- ?
Presumptive Taxation is applicable ?

Please guide me asap

A resident Sr Citizen has income only from pension and interest from bank fd and savings bank account.
He has no other source of income excepting a very small amount of LTCG from redemption of ELSS units invested more than 3 years ago to save tax. This small amount is not subjected to tax as it is much below the thresh hold of Rs.1 lakh beyond which LTCG is to be taxed.
Can he efile return in ITR1 or has to use much more complicated ITR2?

Hi ,
If there are 2 directors in a pvt ltd co. They get their salaries from the company, now who takes the net profit after tax from the company . Do the directors who are the only shareholders of that company take out that profit.
Thanks.

Earlier in 2016-17, i earned 270000 as commission income and tax deducted us 194d. and i shown inincome from business and profession.
and in 2017-18. i earned 150000 as commission income and tax deducted us 194d and i shown in other sources ..and i got refund also.
now quiestion is in 18-19 i also earned 70500 as commission income and 230000 business from stationary shop. so where to shoe both income. which head i have to select for proper return filling

Hi Experts,
Can you please clarify where to mention income from the sale of agricultural land in a rural area in ITR2. Do we need to mention in ITR? if yes where exactly I can keep this information? Should in keep in Schedule EI if yes how to consider income? is it CII value of sale - purchase?

Thanks,
Shyam

If person have salary income and commission income both then which return should be filed?

Hello ,

Someone belong to sec 44ADA Professional like chartered account and his income for F.Y. 2018-19 RS 24,00,000 . if he opted normal taxation and maintain books of account and filling return under ITR - 3 , So Whether Still he required to get audit of accounts ?