Dear Sir/Madam,

Assessee is proprietor running the business and such business incomes are declared under 44AD and profit is showed more than deemed profit.

Also Assessee has a F&O losses during year to the Tune of Rs.130,000/-

To put it more simple;

Salary Income 23 Lacs
Business income 65 lacs (declared under 44AD) profit shown more than 8%
F&O Loss - Rs 1.30 lacs

Is Tax Audit is compulsory for this case ?

Please advice us

Thank in advance.

Hi Sir,

I recieved 76000 arrear salary in the year 2020-21 which was transferred to EPF.
My questions are as follows-
1. Should I file 10E for this?
2.If I file form 10E, how can I calculate the tax ? In the year 2019-20, my salary income was 3.29 lks after all deductions and I had paid 1200 as tax.
kindly advice

Mr. X, a salaried individual, is agree to sell his truck (heavy goods vehicle) to M/s ABC Limited for its commercial purpose for INR 11,50,000/-. Though U/S 206C(1F) Mr. X is liable to deduct TCS from the buyer (M/s ABC Ltd.) for such sale but he does not have TAN. Must he apply for TAN for such single sale?

Dear Sirs,

I am using winman software for computation of income.
One of my relative has income from usa as dividend the tax was deducted.
Now i have confused where to enter the same .
Kindly give your valuable adivise
Thanks in advance
K.B.Nagesha rao

Respected elders,
wish all of u a very healthy , happy year of 2022.
My query. I had bought a bunch of shares , sold them in 10 months.-Paid short term capital gains. With this money, I bought 1 lac worth of gold coin.The shop chargd me 1.5 +1.5 % GST on this.. After 6 months I wanted to sell this gold coin. This time the jeweler did not account for GST & even reduced 3 % on the value ( of the selling rate on the selling day of the gold ).
Is this procedure correct or how do we avoid the loss.
VIJAYAKUMAR

Dear Sir,
Pls clarify the following issues....

1) An individual having salary income, also have Commission income TDs thereon deducted 194H, should I show commission income as IFOS or to file p/l and balance sheet.

2) an individual having STGL shere loss in future & option trading, his broker has given consolidated loss figure, how to show this consolidated loss, whereas ITR compulsory to fill sale & purchase date, value also.

Pls clarify.. .

Thanks
ASAP

Can you help me for following informations.

1.Internal Audit FAQs of a Govt Company
2. checklist for internal audit in a govt company

Due to covid conditions, a client who normally received Rs 12,00,000 as rent from commercial property and house property received only Rs 350,000 during the financial year 2019-20. Can he declare only the rent received as the rental receipts?
Can the experts throw light on the provisions of the Income Tax Act,regarding this?

Dear Expert,

Can we take exemption of Driver salary , Fuel and maintenance allowances, which was included in the payslip too..

Kindly confirm

Dear Sir,

I want to know what should be the Balance sheet date which we can keep for a Pvt Ltd company for signing of accounts (directors and auditor) as on 31.03.2021.

Also after considering that the AGM date was extended till 30th November, 2021

Please help me in this matter.

Regards,
Divyesh Jain