Hi,

My income from all sources is way below the taxable limit under new tax regime.
If I do intraday trading, and if the speculative profit I earn too is below the taxable limit after adding all the income sources then will the speculative income is tax free?

Thanks

Condition No. 1 – Agricultural Income exceeds INR 5,000 P.A
Condition No. 2 – The total income (excluding the Agricultural Income) is more than the basic exemption limit.

Are both these conditions to be fulfilled in order to file ITR 2 mandatorily? What if only condition 2 is fulfilled?

Hi team,

Any idea if the enhanced exemption of 25 lakhs under leave encashment for pvt sector is available for AY 23-24. It was announced on 24th May 2023. However , will this be effective for AY 23-24. or is it still 3 lakhs only ?

Thanks
Mukund

What are the tax implications in the following cases?

1) agriculture income 6000 p.a and non agriculture income (fd deposits/capital gains) 100000 p.a .Is it mandatory to file ITR 2?

2) agriculture income 6000 p.a and non agriculture income 1000000 p.a.Is it mandatory to file ITR 2?

Dear experts,
If a person obtains 2 loans from a bank:
1) secured OD against a land and building
2) Housing loan
Both loans under different account numbers.
So if the person repays the housing loan and yet to repay the secured OD. The bank has not released the house documents as the secured OD is outstanding. Can the bank person initiate action against both the property? Or just the secured OD?

I have a question:

1. I buy Crypto (VDA) from CoinDCX Exchange.
I buy using INR. (they don’t deduct TDS) but if i sell the same crypto on their website, they deduct TDS, but i am not selling the purchased Crypto on their website. Instead I transfer it to my Wallet and then sell it to some individual.

2. Now suppose i transfer the Crypto purchased from CoinDCX exchange and sell it to some XYZ person using P2P method i.e. Person to Person, so the Buyer has to deduct TDS? Or I have to deduct TDS? The amount range is between 1000₹ to 100000₹


So in this case i have to deduct TDS or the Buyer will deduct? Thanks

Hi,

Inventories are assets:
(a) held for sale in the ordinary course of business;
(b) in the process of production for such sale;or
(c) in the form of materials or supplies to be consumed in the production process or in the rendering of services.

Does packing materials such as LDPE and HDPE covers should we maintain inventory details and shown as closing stock?

Sir, I am working in a Service organization, a client deposited money into our company account for paying his fees through our account. Actually, it is not our income. How to account for this transaction in tally

Sir/Mam,

TIS or AIS showing SFT06 Mutual funds Value 1,50,000/- on sale how to calculate this amount of tax in computation. in which head what is the tax rate.

Plz explain mutual funds procedure

Thanking you

Dear Experts,
1 A GST registered person purcashed the certin number of cement bags from unregistered supplier along with other building construction materials for their office builging renovation work.
2 Whether this registered person needs to discharge his GST liability under RCM or not?
3 Pls clarify