It is said that in case of F & O transactions, the turnover for Income tax purpose, in such types of transactions is to be determined as follows:

(1) The total of favourable and unfavourable differences shall be taken as turnover.
(2) Premium received on sale of options is also to be included in turnover.

My query is that is there anywhere written in the Act that the - "total of favourable and unfavourable differences shall be taken as turnover" or is it as per the guidance note issued by ICAI. If it is as per the guidance note, is it accepted by the Income tax Department?

Please suggest.

I want to prepare Capital A/c of sole proprietor. Kindly tell all possible content of Debit side and Credit Side of Capital A/c of Sole Proprietor. Can i add interest credited on saving or current bank account to credit side of Capital A/c? Also please tell if i Debit following items to Debit side of Capital A/c: Premium on Insurance, Tution Fee, Mutual Fund, PPF etc.? Thanks in advance.

Hi
My clients' Section 24(b) claim for interest on home loan has been restricted for FY 2016-17 by the department to Rs 2 lakhs , However the restriction has been imposed from FY 2017-18. Despite so many grievences and letters CPC is not responding and concerned ward is also not answering .
Please guide me.

Can builder charge 12% GST for payments received upto 31.03.2019 & 5% from 01.04.2019 for under construction flats ?

My father is retired person and earning pension income and he has pension A/c. in Union bank but no TDS Deduction on his pension income.

As i know pension income should be treated as salary income sec 17(1)while filing ITR

at the time of filing ITR which employer details i fill in ITR form whether previous ( from where he is retired ) or Bank branch in which he has pension account.

In table no. 12 & 13 I wanna know about the word "Previous Financial Year" for the Annual Return 17-18.
Does it mean 16-17 or 17-18?
Please do solve my query as soon as possible.

Dear Experts.
Pls interpret the difference between exempt, Nil Rayed, Zero Rated supply.

Thanks
ASAP

FORM 3CB/3CA & 3CD IS DIGITALLY SIGNED AND THERE IS NO PLACE IN UTILITY FOR UDIN. NOW HOW AND WHERE TO REFLECT UDIN

Respected sir
Just out of curiosity, services provided by ca are chargeable @18% under GST but what in case CA was unregistered and we receive services from CA are we liable to pay gst on rcm basis if payment is greater then 5000 and secondly currently RCM was suspended till 30-9-2019 so it will be exempt services receive? am i right or i need to study more?
Thank you in advance.

Dear Sir,
I am working in private company from last six years. This year I have resigned from the organisation and whatever increment I get they have all the amount in my special allowance in order to reduce pf as well as gratuities.
My CTC is 13.8 lakhs without any variable and basic is only 34 000. Do we have some govt rule to challenge this?
Except me all other employees has higher basic even they have lower ctc.
My new company giving more than double basic around 66000 with annual CTC 16 lakhs.
Please let me know who is correct?
In my personal view my company is playing with my salary just to reduce my gratuity.
Please let me know if we have some rule by govt to define basic salary of any employee.

Regards,
Vineet
9960749149