CA Aditya Shah
31 August 2018 at 09:24

Applicable itr

Hello Sir !
Now that Income Tax Return Forms have changed,
which ITR is applicable to partner of Partnership Firm?

ClearTax Says ITR 2, but i'm not too sure whether that is correct or not.Reason being there is
no 'Information about Firms in which you are partner' Tab in ITR 2.

Could you please suggest?


vasant
31 August 2018 at 08:15

Itr form

One of my friend having income from computer servings can we file, ITr 2 for F. Y 2017-18, he is not able to fill the balance sheet


Saroj Jyoti
30 August 2018 at 22:15

Immovable property

Dear Experts,

My query is regarding, Purchase of Immovable Property.

Mr. Ramesh (Buyer) purchased Immovable Property from Mr. Mahesh (Seller).
Details of Property : Market Value = 651000/- , Consideration Value = 437000/- (As per Sale Agreement)

Mr. Ramesh made Cash Payment of Rs. 220000/- and 437000/- by Cheque to Mahesh. BUT

Mr. Mahesh mentioned only 437000/- to sale agreement. (consideration Value) remaining 220000/- not consider in consideration value.

Situation is, Under valued property is purchased by Mr. Ramesh.

I want to know the taxbility in hand of Mr. Ramesh (Buyer) and Mr. Mahesh (Seller).

If Mr. Ramesh will pay tax NOW on 214000/- ie. ( 651000/- Minus 437000/-) by considering it "Income from Other Sources" ,than what will be effect of capital gain when Mr. Ramesh will sell the property.

Please help me expert to understand this situations.





Anonymous
30 August 2018 at 21:53

Surrender of gst no

I want to surrender my gst no .what is the process of surrendering.



Anonymous

Hello experts,

Assessee is having turnover of rs. 10400000.
I have filled return u/s 44ad .
I have mentioned GST number in return but forgot to mention turnover as per GST.
Should I revise the return and show turnover as per GST???


Sunil Gavaskar
30 August 2018 at 20:03

Itr form for tuition fee

1. I have mentioned sum of income under other sources ( FD interest ) and tuition fees, in ITR1 form.
Is this right ?
2. Also, this additional tuition income is not matched against TDS-2. Is that fine


Thanks
Sunil


PADMINI

As you are aware that from FY 2017-18, New return forms are launched by the IT Department. Previously we used to file ITR-2 for Partners having no other business income except income from Firm. However from this year ITR-3 is applicable for Partners. While filing ITR-3 we have to input four figure balance sheet and profit and loss account otherwise department issues notice for defective return.

My query is how shall return of partners having no balance sheet maintained be filed ?


CA Payal Patil
30 August 2018 at 19:47

Wrong dob on income tax portal

Hello,
While filing ITR I come to know that Date of Birth of my husband is mentioned wrong in IT portal, however PAN details and DOB on PAN is correct, we can login with it.. ITR of earlier years were filed by company representative. Is there any way to correct this ? please guide.


RAMAKRISHNA
30 August 2018 at 19:02

Income relating account head

Good evening sir, my friend invested in amount marketing , they returned his investment with adding some profits . but they deducted 10% tds on profits under section 194j . please tell me sir how can he show this income under which accounting head sir and in income tax filling return ,can he show in income from other sources
please explain sir


Pradeep Kumar Sarangi
30 August 2018 at 18:16

Eligibility for filling of itr

Dear Experts,

I am a salary person as well as a small insurance agents with commission brokerage. In FY 2015-16 I have filed ITR-4.My turnover is under declared limit & also I have not maintain any kind of accounts. Now I am going to file my ITR for FY 2017-18. In this,which ITR will applicable for me ? Is it ITR-3 or ITR-1.

Note- I have not filed my ITR for FY 2016-17.

Please suggest.

Regards

Pradeep






CCI Pro
Meet our CAclubindia PRO Members

Follow us



Answer Query