H Thakar

Redemption of Units in AIF Cat 3. I have redeemed 2 AIF after holding them for period of 9 months & 16 months. How Gains on above redemptions will be treated & taxed???


R Hiremath

Sir,
If I made Turnover of 3cr in F&O and made loss of Rs. 10 Lakhs and only has Salary Income other than that. Is it mandatory to get Tax Audit or Should I file Normally. Since F&O And Salary both are through bank not Cash ?


Mahesh S M
10 July 2024 at 10:11

GST has been suspended

Our GST registration has been suspended due to non-filing for six months, and a show cause notice was issued one month ago. Consequently, I am unable to file an application for the revocation of the cancelled registration on the portal. What should I do? Can I file the remaining due filings without revocation?


Accounting Home Services
10 July 2024 at 08:38

ITR - For Partnership Firm

We are Register as a Partnership Firm.
We are Builders & Developers, We have Turnover 1.60 Cr in FY 2023-24
All receipt in Bank Accounts only
Can we file ITR 3 with 6% profit

Pls Suggest


Kollipara Sundaraiah

Sir,
Assessess maintained a jewellery business in own commercial building.if assessess commercial building demolished govt for road extension purpose.assesses rs:15 lacs amount received from govt
Question:
Assessess received amount tax applicable for income tax purposes.


PARAS CHHAJEDpro badge

The return of income for AY 2024-15, for the purpose of income declared u/s 44AD or 44ADA requires breakup of receipts viz. Bank(ECS/Cheque /DD), Cash and UPI ( Other Than ECS/Cheque/DD/Cash)

The assessee desires to declare net profit u/s 44AD @10% which is more than 6% and 8% as prescribed and instead of filling breakup of receipts puts entire receipts in the cash column.

My query is whether the Assessing Officer may claim that what has been declared in the cash column is not your total receipt of business but it is only the receipt in cash and the receipts in the bank account and valets have escaped assessment as the same has not been so reported.

Please advise. Thanks


ravi shankar
09 July 2024 at 21:59

Discrepancy in AIS

The amount/expenditure shown under Sale of listed equity shares in the AIS for FY 23-24 does not agree with the amount in the Capital Gains Statement issued by the Broker. Do i have to take up with the Broker or submit online feedback on the relevant entry in the AIS?


Deepak Londhe
09 July 2024 at 20:47

Tuition fees of Salaried Person

Dear Expert,
I am Salaried Person with salary of 2.75 Lac.
I'm earning by Tuition fee of Rs. 150K.

Can I show this Tuition fee in "Income from other sources" by filling ITR 1 ?


Javed Memon
09 July 2024 at 19:49

KVP Maturity Income

My Client invested in KVP Amount Something 9 Lkah Rs (Kisan Vikas Patra ) Kvp Matured in 2023-24
Maturity amount is KVP 18 Lakh Rs. 9 Lakh Rs. Interest Shown in AIS

My question is Interest Received 9 Lakh rs. is for 9 Years . if i show this interest income as per AIS in ITR . Client have to Pay Huge Tax in 2024-25 Return .
So how to Show this Interest income in A.Y. 2024-25 ??


Ritesh

For Financial year 2023-24(Assessment year 2024-25) , I had selected old Tax regimes in my organization while Tax declaration so my form 16 calculation is also calculated as per old regime.

Can I select/change it to new Tax regime while filling ITR for Financial year 2023-24 (Assessment year 2024-25 ) as I can save more tax with new regime?






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