Query 1. 44ADA and ITR under Normal provision.

I had disclosed income under 44ADA in AY 21-22. Now in AY 22-23 I want to opt out of 44ADA and disclose income by filing return under normal provision giving all the details of P&L and B&S declaring income less than 50%. Can I show it by filing ITR 3 or do I have to file ITR with audit since income is less than 50%.


Query 2. Is Franchise income is Professional Income???.

Client has franchisee of Pathology Lab and has blood Collection Center of Pathology Lab. TDS is being deducted under 194JB. The nature of income is not profession as such because it is only a collection centre. I thought to show it as business income but I feel ITR will not get process since TDS deducted under 194JB. What can be the appropriate measure in this regard.

I am holding unlisted which were purchased more than 40 years ago. I had 1,500 shares which were reduced to 900 shares on capital reduction.
How to calculate tax liability on sale of these shares?
Is there any basic exemption limit?

Regards
P S Gupta
Mail id: psgupta1@gmail.com
Mobile: 9903479357

I am passed group 2 CA final exam already. Now I want to apply group 1. But in exam application Form it is already enabled that group 1 & 2 failed status. How to correct this

whether Tax audit for A.Y. 2021-22 is revised?

Hello Sir,

If supplier do not issue credit note to buyer against short supply of goods than recipient can issue debit note without GST to match his purchases ?

Thanks & Regards,

Seema

Educational Institutions turnover above 2 crores shall we file IT Return claiming exemption u/s 10(23C)(iiiad)

Dear Sir,

We have received the services from Unregistered Transporter who is belong to Delhi ( Delhi to Gujrat) Now please suggest in which tax RCM charge IGST Or CGST/SGST. someone told me tax Charge under CGST/SGST because transporter is out of state and he is unregistered

Dear Sir,
Please suggest Comparative Figures and frame work so that its easy to me for audit
Assessee has not disclosed the
comparative figures in the books of accounts as required by the framework of ICAI related to presentation
of financial statements

what is the process for condonation of Delay if Trust had filed late form no. 10B? In how many days condonation of delay will be given?

While filing 26Q for Q1, error is coming "Due Date of which amount paid/credited". I have put cerdit date as 07/04/22 as tax credit date as 07/04/22. The same tax was paid on 19/08/22 with due interest.
How to solve this issue