Sir,
My income breakdown for FY 24-25,
Savings interest 44,000/,
STCG 2,10,000/
LTCG from equity mutual fund 91,000/
Income from commissions 3,780/0(TDS deducted u/s 194H)
Intraday equity cash(non f&o) trading loss 247/,
Intraday trading turnover 500/

So Total income exceeds 2,50,000/ and I've loss of 247/ in intraday trading.
Since I've commissions income of 3,780/, I've to file ITR 3 and I can't opt for presumptive taxation u/s 44AD.

My question:
Are books of accounts and audit compulsory and inevitable for me or there is any way out ?
Thanks a lot

Respected Colleagues,
If Resident tenant pays rent to NRI landlord above 50k per month, then what are the compliances due under Income tax act from the tenant point of view like Form 15CA, Form 27Q (TDS) etc................Please guide

Hi

The assessee is the proposed non resident seller (NR) and accepted advance for sale of his property in FY 2023-24 & 2024-25. TDS was deducted and deposited to Govt by the resident buyer on applicable rates. Since the sale deed was not executed in FY 2023-24 & 2024-25, the NR has not claimed the same in his tax return and has deferred the said claim each time to next year.
Now, in FY 2025-26 the sale agreement has been cancelled. Pls advise-
1. Can TDS be reversed by the buyer and can buyer claim TDS refund?
2. In case the NR Seller claims TDS in his tax return, what problems can he face as he will not be able to show any income against such TDS claim.
Thank you in advance.

Dear All,
While finalizing the Financial Statement for the Charitable Trust for the fiscal year 2024-25, I observed that certain corpus funds, which were transferred to income in FY 2023-24 and reported in the Income and Expense statement last year, have now been moved back to the Corpus (General) Fund. This adjustment has resulted in these funds being reported as a balance sheet item, thereby increasing the General Fund.

Is it acceptable to present the financials in this manner for the current year? Last year, this same fund was classified as 'Other Income,' and the net surplus was added to the General Fund (Balance Sheet item). This year, the auditor has reduced the value of the last years closing General Fund balance and subsequently added last year's income back to the Corpus Fund.

Thank you in advance for your guidance on this matter.

For Site Service execution there is clause in customer PO i.e. Medical Checkup should be done before engineer commence service. Our Engineer is doing medical checkup in somewhere & provide bills, in this case while we reimburse this charges from our customer we can charge GST or not ???

Dear Experts,

My friend has no sales in the month of May 25. He has to file NIL return for GSTR 1.
But, he is paying Rent for his shop and has to pay RCM on it. How to show RCM invoice
No. in Table 13 for this month, because, the portal is not accepting the Bill No. details alone, entered in Table 13. If he select NIL Return option in GSTR1, he has to skip the RCM invoice
number details in table 13.
Previously, he used to show the Rent amount in 3B return and pay the applicable RCM tax.

Pls. advice.

As recipient of services from GTA, we have received an invoice with 5% forward charge in this case is there any restriction on claiming of ITC

Getting error while uploading excel file into offline tool...what to do?getting error in B2B and CDNR

While uploading data in the GST Offline Tool the Tool isn't accepting the Date format and HSN which are bifurcate in B2B and B2C.

One of my client (registered individual) dealing in supply of generator service. He get an oreder from a company which is in a same state. And Invoice value will be Rs 25k + gst. Should need to generate EWAY bill??? when generator back to my client need to generate eway gain ?????
please suggest appropriate way to deal
Regards
Vikas