Dears

Why ITD disable the Aadhar OTP E verification ?

Thanks

hello , i want clarification regarding a case of claiming exemption u/s 54F of gapital gain, case goes like an assessee sold a building for 52,05,576/- and constructing a house costing 55,04,850 /- for that he took housing loan of 39,00,000/- . and he s constructing another building of 1 Cr . my question is can i claim full construction cost of 55,04,850/- on building sold ? because here u/s 54F we can claim the whole amount. and housing loan is of both building. so can i claim whole 55,04,850?

I'm employee of an Indian PSU on foreign assignment for three year period. During FY 2017-18/ AY 2018-19, I attained NRI status. My salary is paid in the overseas branch of an Indian bank in foreign currency (USD). During the year I en-cashed leave which is fall under the head Income from Salary. My employer has outsourced the processing of the application for leave en-cashment to LIC of India who is also authorized to deduct and pay TDS on leave en-cashment amount directly to IT Department under its own TAN number and issue separate form 16 for such payments. Since leave encashment is also part of the income under the head salary LIC was advised by my employer not to deduct TDS on leave encashment based on my NRI status and accordingly LIC of India did not deduct TDS. This amount was also paid by my employer alongwith salary of the particular month in foreign currency in my bank account maintained abroad. Accordingly, in form 26AS the amount towards leave encashment has been reflected as a separate line item showing the amount paid and TDS as nil. However, LIC of India has shown this amount as income under section 192 of Income Tax Act, on which my Auditor opines that attarcts income tax. My Auditor further opines that, this should be shown as salary under an appropriate section which does not attract income tax, since leave encashment is also part of salary income which is also paid in foreign currency in my bank account maintained abroad. All other part of income like basic pay, DA and other alowances area paid directly by my employer in foreign currency in bank account abroad and based on my NRI status my employer did not show any such amount paid as income throughout the year as income in form 16 issued by my employer, being exempted from income tax based on my NRI status.
Can any one point out the appropriate section under which the above leave enacshment amount should be classified / reflected in form 26AS under deductor LIC of India so that it does not attract income tax

Dear Sir My Query Is regarding 164(2)(a) Disqualification.Now our Company Wants to Remove the Director from the Board .we want clarification effective Date for such Director Should be Taken weather we must Take his Resignation Today or from When he was made disqualified by ROC. if we Remove the said Director from Board From the date when he was Made disqualified by ROC then what will happen to Financial Statement Which He had Sign last Year.

Read more at: https://www.caclubindia.com/experts/companies-act-2013--2675009.asp

Hi Everyone,
Hope everyone is going awesome.
I have query which is mentioned herein below :

Company "A" having GST registration under two different states (One in Delhi & Other is in Gujarat).

My Query in relation to aforesaid company "A" :

Can Delhi Branch adjust its IGST Liability of a particular month (Say June-18) against IGST credit / Input of Gujarat branch ?


If Yes - Then "How"? If No - "Why" ?

Dear Sir,

I want to claim Interest on Home Loan in ITR against Two Home loans and both are on rent. Also I am showing the rent Income in ITR.

Now I want to know that Can I claim Interest Paid on Home Loan against Two home loans (Max.- Rs 200000/-) ?.

a person having income from

1) consultation Rs.50000 where TDS was deducted Rs.5000
2) Salary Income Rs.2,50000 - No TDS
3) Income from house property - Rent 60000
4) Income from Rickshaw Rent - Rent 60000

so which form need to chose for income tax return filling for A Y 18-19

SIR,
During F.Y. 2017-18, An individual Senior Citizen,
has made transactions of buy and sell of shares/stocks, as per mentioned below. :

Total intra-day buy value is Rs. 6,40,000.
Total intra-day sell value is Rs. 6,44,800.
Total intra-day profit is Rs. 4,800. Total intra-day loss is Rs.1,100.
Thus, the net intra-day profit is Rs. (4,800 - 1,100) = Rs. 3,700.

In the same way,
Total delivery based buy value is Rs. 3,22,000. Total delivery based sell value is Rs. 6,000.
There is no any profit made from delivery based sell of any script.
Short term capital loss from such delivery based sell is Rs.80 only.

HE DOES NOT HAVE ANY OTHER BUSINESS AND PROFESSION INCOME. HE HAS ONLY PENSION, INTEREST AND DIVIDEND INCOME OTHER THAN THIS INTRA-DAY PROFIT.
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Q-1
He has not made any profit from delivery based sell . Only loss.

Now, if he does not want to take set off the short term capital loss of the small amount (Rs.80 only), made from delivery based sell,
then, Can he file his return in ITR-1 ?
And can he show the net intra-day profit (Rs. 3,700), as income from other sources ?
Will it be OK ?

*((Because, ITR - 2,3 & 4 are very lengthy, detailed and complex forms, and besides,he does not keep accounts of his transactions. So, he does not have details of cash balance, creditors, debtors, and stock of shares in trade, etc.))*
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Q-2 HIS NET INTRA-DAY PROFIT IS ONLY Rs.3,700.
Is it compulsory to file return in ITR-3, just because of the small INTRA-DAY PROFIT of Rs.3,700 only ?

Isn't there any option to this, to make it easy ?

In addition to salary and bank interest,
an individual has Speculative business income from intra-day share trading profit.

No other income from any other business or profession.

What will be the code and description of business, to be selected, in ITR-3 ?

What to select in the field '' NATURE OF BUSINESS/PROFESSION '' - in ITR-3?

Respected Sir,

I would like to know when any party returned our goods for quality complain. Then what will be the procedure to return back the goods. Whether we will issue a Credit Note to the party or Party issued us a Debit Note and we will issue a Credit Note on basis on the Debit Note. Is it compulsory that party will take entry of the sale bill.

Please clarify the fact.