The person is a salaried individual over 60 year with income from other sources. For FY 2025-26 only he has F & O Profit/ turnover of Rs. 78,000.00. Which schedule in ITR 3, he should report it -Trading or p/l account & BP?Required to fill BS? Total income apart from F&O is 65 lakhs in FY 2025-26. Is schedule AL mandatory? Mandatory to maintain books & account?
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SCENARIO 1 : If a partnership firm turnover 70 lakh and profit before partner remuneration is 5 lakh also 5 lakh paid to partner as remuneration tax audit applicable?
SCENARION 2 : If a partnership firm turnover 70 lakh and profit before partner remuneration is 5 lakh also 4 lakh paid to partner as remuneration tax audit applicable?
INFORMATION : FIRM IS NOT OPTING (44AD) AND MAINATAIN REGULAR BOOKS OF ACCOUNTS
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IN GSTR 3B CGST & SGST LIABILITY IS NEGATIVE BECAUSE OF EXCESS CREDIT NOTE. CAN WE ADJUST THIS EXCESS AMOUNT FROM IGST LIABILITY. AS WE EXPECTED THERE IS NO SALE IN NEXT MONTH ALSO SO WHAT WE DO THIS NEGATIVE LIABILITY.
Assessee sold flat for 1 cr which was jointly held with wife. Consideration was received Rs.50L each in both accounts. However the purchaser has shown tds payment of Rs.1L in Husband PAN and is reflected in his Form 26AS.
AIS of both shows sale of immoveable property at Rs.1 Cr each instead of Rs.50L each
My question is how to show capital gains in their individual return of income so that TDS is claimed in full and also there is no query from Income Tax Department
Sir,
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House property held by mother and daughter jointly has been rented. Daughter pays the Emi and the rental income is credited in mother's account. Can the mother show the rent income fully in her ITR or it has to be divided as per their share. Please guide
Sir I've filed revised ITR 4 on 02/07/26.I've showed all sb interest,FD int,MIS interest,ITD refund int in IFOS.But in AIS/TIS, post office Sb interest(22427/-) and post office MIS interest(27750/-) not reflecting at all till today.So my reported income in IFOS in ITR is more than amount showing AIS/TIS.Will this cause problem for ITR to be Processed and to get refund?🙏🙏🙏🙏🙏🙏🙏🙏
Can A partnership Firm having turnover of 2.5 cr and cash receipts and payments below 5% declare income under section 44AD ?
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F & O PROFIT REPORTING FOR AY 2026-27