Assesse (Individual) has Income from Consulting Service.
Due to the reason that his Profit falls below the 50% of Gross receipts, he is undergoing Tax Audit.
I need a clarification about DSC, is he required to get the DSC to file ITR (As the act uses the words " IND/HUF who are required to get their books Audited .....")
OR
It is like a normal individual case.
SIR
I AM A SENIOR CITIZEN HAVING PENSION INCOME OF RS 3.50 LAKHS. I HAVE DONE SHARE TRADING WITH A TURNOVER OF 85 LAKHS AND A PROIFT OF RS 1.30 LAKHS UNDER SHARES ( BUSINESS INCOME). I HAVE ALOSS OF EARLIER YEAR OF RS 65000/- WHICH WILL BE OFFSET BY THIS YEARS PROFIT. AM I REQUIRED TO HAVE MY ACCOUNTS AUDITED IN SPITE OF THE SHARE TURNOVER BEING ONLY 85 LAKHS. OTHER INCOME EXCEEDS INCOME TAX LIMIT. PLEASE ADVISE.
V RAMACHANDRAN. COIMBATORE
Dear Expert
I am doing DSC registration in MCA website,but following error has been showing in the MCA website.So please tell me the solutions for this
DIN is not approved. You require an approved DIN to register your DSC.
But we have DIN number.But following error has been showing in the mca.
If any one know means please suggest me
Dear Sir/Madam,
I got one house at Hyderabad which is let out and due to employment i am working in Chennai and getting HRA and paying rent.
Here, i am getting rent from Hyderabad property and in Chennai getting HRA and paying rent.
Is it self occupied property. If it is let out can i claim Annual Value as NIL.
I have a query on interest rebate for under construction property for self use. I booked an under construction property in Dec2017 under 30-40-30 payment plan for which I took a loan in Dec2017. As of today Loan is 50% disbursed. Due to covid there is delay in planned completion to Jun 2023.
1. Would I be able to get any rebate on interest if builder provides possession by Jun 2023?
2. Based on above dates when would my 5 year timeline for completion end?
3. Is there any relaxation to 5 year timeline for completion due to covid?
Thanks
WHAT IS THE SECTION OF REMITTANCE FROM FOREIGN COUNTRY ?
I received advance of Rs70 lakhs in july 2020 against sales and returned full advance in November 2020.My turnover last year was more then 10 crores. Am i liable to deduct tcs after october 2020 for above transaction. Please advise in details.
Sir
I wanted to take transfer ( within 1 year ) . If I rejoin after 4 or 5 months do I need to pay fine ? Or it's regarding after submission of 102 form?
Dear sir,
I am a retired person having only interest income from fixed deposits and some capital gains from stock market. I am incurring some expenses like transportation, mobile bills etc. for maintaining my fixed deposits. Can I deduct these expenses from the interest income of fixed deposits while calculating tax payable ?
Thanks
Sir
One Assessee engaged himself in the construction work of residential building , after completing the house he proposed to sell the house for Rs.50 00 000 /- what is the rate of GST ? What HSN /SAC code is applicable .How can he avail ITC ? please explain . This is for your kind perusal.
Thanking you
With Regars
S M basha
Input Tax Credit, GST refunds and Recovery of refunds- Roadblocks and way outs
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