Dear Sir,

It is very common reply that person if below 60 years whose gross income including salary + FD Interest+Rent Income etc > Rs.250000/- then he or she needs to file Income Tax Return. But, my query is this Rs.2,50,000/- income to be considered as Gross or Professional Tax, 80C etc to be deducted and the if it exceeds Rs.2,50,000/- then ITR filing is mandatory and if it under Rs.2,50,000 then ITR is optional ??
EG Person A is salaried person. His salary + other total income is Rs.252300/- and if Rs.2400/- is professional tax+ Rs.10000/- deposited in PPF A/c then will this person has to file ITR mandatorily or optional ? Please reply at the earliest.
Regards

how to make journal entry of split of shares in the case of individual and what take cost .
can I make entry
Purchase of shares Dr. .01
To Capital a/c .01
Paise 1 take to book journal entry.

Hi... I am revising 24Q for Q4 but while validating the file it is showing some error: T-FV-1000 Invalid File Header (FH) Record Length i.e., number of fields in the file header are not as per file format. Could I get help from experts?

I applied for 12A registration of a trust under the new scheme in Form 10A and got provisionally registered. Then I applied for permanent registration of the said trust in Form 10AB. After the respective proceedings by the department, our application for permanent registration was cancelled. But the certificate of provisional registration is still available in the assesse's portal. When I tried to submit a fresh application I couldn't select the section code citing the reason that there is already a valid form submission.
Kindly guide me through the next step and also regarding the validity of provisional registration since the application for permanent registration was rejected.

Dear Sir,

One of my client who is an Indian resident has become an NRI in the year 2020 after shifting to USA. Her husband who was an Indian resident expired few years back and was having mutual funds in his name.

The wife transferred all the mutual funds of her husband in her name in 2023 as she was the nominee and redeem the funds.

My query is since the wife has earned income in India she has to pay capital gain tax in India. Is it ok for her to maintain a saving bank account or she has to open NRO account to take the sale proceeds of mutual funds.

Please help me in this matter.

I have paid the fine amount, I got the challan . But it's not reflecting on portal after i login and try to link my pan with aadharcard.

Hi Expert,

Is there any benefit to Merchant exporter to procure services under concessional rate. ??
i.e A is located in India & B is merchant exporter customer of A also located in India. B procure goods under concessional rate & supply to C who is located in Algeria. But for completion of project A is provide services to C who is located in Algeria on behalf of B. What is the applicability of GST under this scenario.

Respected Sir,

We had filed a revised return of TDS on 29th May and today is 2nd June. Total 4 days have passed but still the status of the statement is not showing the status of the corrected TDS Return. I would like to know how long normally it takes for processing the corrected TDS Return. TARIQUE RIZVI

982 1630 130

We are Electric Trader but for construct Godown we purchase cement and steel, where we received Input Credit on Cement & steel and also we want sale excess steel and cement with GST is it allow?

Dear Sir/ Madam,

May I please know why TDS in NOT deducted on Payment of Shipping Line Charges in case of Import ?

Thank you,
Rachana