Respected Experts, I had invested a sum of Rs.6,30,000/- in a chit fund in the year between 2000-2001. The chit fund company was closed in the year 2003-2004. The High Court has appointed a retired Judge to disburse 75% of the principal amount as per the settlement entered between investor association and chit fund. Hence, I had got a sum of Rs.5,05,000/- by way of electronic transfer into my account during the FY 2022-23. Whether I am taxable for the receipt? I am an IT assesse and filing IT returns since 1996-97. I am filing only saral form for my income from properties let out for rent. If the amount can be exempted, the section and form under which I can clam the exemption. Please guide me. Thanks in advance with anticipation.

I have filed an amendment of additional place of business in which clarification was sought by department.
But i could not file the clarification on time now what to do?
whether fresh application can be filed again?

Persons having income from salary (Rs.2122420/-), interest income (Rs.651230), capital gain (Rs. 30520) as well as professional income (Rs.483320/-) for the current assessment year 2023-24. As per Form 26AS, he has received a business income/receipts of Rs 8640/- u/s 194R. Where to show the said income u/s194R in ITR 3? Can be said income u/s 94R be shown in income from other sources? Your valuable direction is highly solicited. Regards, Tarak Kumar Roy, West Bengal.

I bought an apartment on 999 year lease in retirement community. Building is under construction and advance maintenance for 15years is given. The promoter has taken 18% GST on maintenance amount even though monthly maintenance is much less than 7500.
Is it legal and correct to apply 18% GST in this case ?
Thanks
Sunil Verma

one of my client is going through financial problem and one of his foreign friend ( citizen and resident of UAE) is ready to help him ?

amount is 40 lacs ?

my question is can he take 40 lacs in his account as loan from friend ?
if not then how can he take this amount ?

Dear Experts,

I have filled my company's tds return for q4. I have failed to update the lower deduction details of one party. And hence now i have received the notice for short deduction along with the interest. Need to how how to rectify this and also am I required to pay interest again??

Dear Sir

I have a turnover of 85 lacs in F&O Trading in FY 2022 23 with a loss of 5 lacs . I did not opt for the 6% declaration , before in any year . Basically I need to show the actual profit / loss in my return for the AY 2023 2024 .

Need clarity on the following :-

1 Since the Turnover is less than 1 crore , no need for any Tax Audit ( Irrespective of my profit / loss) . Is this view correct ?

2 Can I follow the latest guidance note from ICAI on the calculation of option Turnover ? This guidance note states that , total of profit and loss from each transaction is the Turnover . (No need to add the sales premium )


Thanks
Raju

Can I receive Stocks as Gift from Non Relative of value above 5 Lakhs.

Now, If I don't Sell these Stocks then no tax liability on me.
Only Dividend is taxable for me.
No tax on donor.

Please Help.

i want to know that can i show my such income under section 44ADA ? If no under which head my income will be taxed?
i am a freelancer
i am currently working for a company to train their AI (artificial inteligence)
i received payment of ₹800000 during the year 2022-23
The company gives me payment after deducting tds U/s 192 (salary)
But i am paying salary of ₹300000 & rent of ₹60000 per year to earn above income.
effectively i am earning ₹440000 for the year.

Sir, purchase land , dt 27.2.18 co owner property A.& B Pur.Total Amt 580000/- A.290000/- B 290000/- Sale Total amt.295000/- dt.30.11.22 One person sold. Itr 3 filing A Plot pur.A. 290000 Sale total amt.295000 one person 100% But ITR filing which sold amt consider? Pur.property owner A 50% B 50%? Sale amt.A.147500& B.147500 LTCG Calculate? & ITR . full consideration value? Cost of acquisition without indexation calculation? Index
Total pur value. / index 580000/272*331=352904/-
Or
A.calculation.290000/272*331=352904 B.calculation.290000/272*331=352904 LTC Loss A -210404 & B -210404 ITR. Correct calculation ? Please. Sir solution.