My uncle he is a pensioner and he is working in NHAI as PRO. The NHAI deducted tds under 194J fot the financial year 2017-18. He wants to file IT return. NHAI Total receipts as per 26AS is Rs.453484/- and TDS is Rs.45351/-.
Can he file his return under 44ADA? Please Suggest me to help him.

Respected Sir/ Madam,

My client is registered under GST act under regular scheme. His retail business turnover is declared under the GST return. He also owns a truck which is used for transportation of goods, for which he receives the consideration. Whether the consideration received is taxable or Exempt under GST

A partnership firm formed for the construction of residential quarters( not intended for sale) and to let out for Rent after completion. Is liable to take GST registration ?
Have any diffrence, in case of gst, is this building is a single one(apartment style)? or single , single quarters ?
Thanks in advance for a quick reply....

Hello Sir,
I have invested in September 2014 – Mutual Fund – Axis Hybrid Fund – Series 15 (1275 Days) Rs.1,30,000/- & on redemption received Rs.161,000/- in Mar-18.
Please confirm whether this LTCG of Rs. 31000/- is taxable or not. If yes @ what rate ?
According to the finance minister in his Budget 2018-19, has proposed to tax long term capitals gains of over Rs 1 lakh at 10% without indexation benefit.

Regards,

Aditi Sharma

I PAID PREMIUM OF RS 40000/- PER YEAR FOR FIVE YEARS TOTAL AMOUNTING RS 200000/- (SUM ASSURED WAS RS 2 LACS) I GOT MATURITY RS 247500/-. WHAT WILL BE TAXABLE AMOUNT 47500/- OR 247500/- PLEASE CLEAR.THANKS
DINESH CHOUDHARY

I have received my performance based payment pertaining to the year 2016-17 in the month of April, 2018 from my company. While checking the Form 26AS for the financial year 2017-18 (AY-2018-19) (as about to go for filing ITR), this payment was found accounted along with other details of the payment the financial year 2017-18. I have sent letter asking clalrifications from my company for this wrong accounting. But, so far no reply. However, I have been following it up.


Grateful, if you could give your kind advice whether the referred performance based payment is to be taken as income for the financial year 2017-18 or 2018-19 while filing my ITR.

Kindly advise at the earliest.

Thanking you,

regards
raman.k

One fixed asset sold for an amount which exceeds WDV as per last financials,and booked profit on sale of fixed asset in current year under the head of other income but I have doubt in those item again to be taxed under capital gain under Income Tax act 1961,if the asset block already nil.

Sir,
today return income tax my firm ( Partnership firm), I Have declared presumptive Income.
which form selected reruns.
1) ITR- 4
2) ITR -5

Example:

Foreign income: Rs.66000
Foreign tax paid: Rs.1320
tax as per India tax rules: Rs.800
tax as DTAA: Rs.1500

It seems the tax relief amount auto calculated in Form 67 is Rs.1500. My understanding was that the relief amount should be Rs. 1320 (the smaller of foreign tax paid and tax payable as per DTAA in India).

Would appreciate some explanation.

Thanks.

Hi Experts,

Company has received loan from director sum of around 8L in FY 2017-18, Now I got to know that cash loan from director more than 20K is disallowed. I request to provide us suggestions about how to account this in alternative way.

Thank you.