Hello experts!

Ours is a clothing brand. Complaince for trading part of the business is easy to udnerstand and complete but it's the job work part where we are getting stuck regualrly.

Could anyone please guide me? Or a proper consulatation is also doable for me.

We send fabric to 3rd party manufacturers (job worker) - either directly from fabric vendor under bill-to-ship-to OR sometimes from our office.

I want to know the proper acocunting for this job work part of the business. The major issue is that fabric sent is completely unplanned, meaning, many fabrics are dispatched to job-worker in one time which is used in multiple different SKUs. Also exact consumption is not known until the end of the fabric. Hence, we cannot link one single delivery challan to one specific receipt.

Just yesterday, i got to know about ITC-04 return. is that vaid for our business? if yes, then how can we comply with it keeping in mind the above limitations regarding unplanned dispatch of fabrics.

Please guide.

Thank you

If Assessee is having 9 Trucks & Gross Receipt is more than 1.5 Crore. Can We file Return ITR-4 Under Section 44AE or Required Tax Audit ?

The assessee who is a non salaried senior citizen has filed ITR 3 in AY 2024-25 as there was a small F & O gain. Barring that there was capital gain and income from dividend and interest under new tax regime. This year he does not have any business income. Hence he has to file ITR 2 for income from Capital Gain and other sources like dividend and interest. His taxable income is around 350000 majorly due to Long Term Capital Gain. If he continue in new regime, he has to pay tax. But if he switches to old regime, there is no tax as he can claim interest income deduction of Rs. 50000/- u/s. 80TTA.
Question is can he claim rebate u/s. 87A for long term capital gain? If not, can he switch to old regime to save tax? If Yes, he has to file form 10-IEA?

If I have applied for multiple corrections in Form 26QC is it possible that it gets partially accepted/rejected? That is some of the changes get accepted while the rest don't after verification by the AO.

Respected Sir,
I have Filled ITR 3 For A.Y. 2024-25 For Salaried Person
Declared income
Salary income after standard deduction 4,92,000 and Claim 90,000 F & O Loss
and one More other income i.e. small Business income of Rs. 2000 (10,000*20% u/s 44AD)
So Net Taxable Income For A.Y.2024-25 is Rs. 4,90,000 and 88000 loss of F& O carry Forward

My question is for A.Y. 2025-26

F & O loss is 1,50,000 so for claiming Loss audit is Mandotory or not because Prevoius year i have declared small business income u/s 44ad and also that income declared under 44ad is not related with F & O business

Respected Members,

I am trying to claim benefits under section 80U, and filed form 10IA.
However while submitting receiving following error -

Error: SCHEDULE80U_F10IA_2025_004 - Please ensure that correct acknowledgement number of Form 10-IA are entered in Schedule 80U for claiming deduction under the said section.


Any help would be greatly appreciated.

BEST REGARDS
Abhishek

SHOULD I ENTER MORE THAN ONE OPTION IF I HAVE GAINS FROM 1. PRIMARY-PROFESSION +2. TRADING IN STOCKS IN DELIVERY AND SPECULATION (STCG AND LTCL) IN ITR3 FOR "NATURE OF BUSINESS"

We are delivering the following items to customers from different restaurants and shops on the basis of the orders received through an online platform.
1. Restaurant food
2. Confectionaries from bakeries
3. Grocery
4. Fish and meat
Since the firm is started its business this financial year and before filing the first GST return, I would like to have clarification in the following matters. We are acting as an intermediary only to collect and deliver the ordered items given by the customers. The selection of supplier and items are completely limited to the choice of the customer.
1. The entire amount including delivery charges are collected by us and the amount due to the supplier will be given back to them.
2. We are eligible for a profit margin from the amount due to the supplier.
3. The entire delivery charges are retained by us.
Kindly advise the tax treatment on GST for the above model of business.

WHAT IS THIS SECTION 115JC

SCHEDULE AMTC - COMPUTATION OF TAX CREDIT UNDER SECTION 115JC
1 Tax under section 115JC in assessment year 2025-26 (1d of Part-B-TTI) 1 0
2 Tax under other provisions of the Act in assessment year 2025-26 (7 of Part-B-TTI) 2 19,914
3 Amount of tax against which credit is available [enter (2 – 1) if 2 is greater than 1,
otherwise enter 0] 3 19,914

Hi, individual who sold his building for 2,50,00000 but it's cost value 1,43,00000 can I book the profit for the difference amount or credit capital account