For Schedule AL, the limit is Total Income of 50 Lakhs
1. Total Income = Gross Income - Set off Losses of Last Year - Deductions Available - Agriculture Income
2. Total Income = Gross Income + Agriculture Income - Deductions Available
3. Total Income = Gross Income + Agriculture Income - Set off Losses of Last Year
4. Total Income = Gross Income + Agriculture Income - Set off Losses of Last Year - Deductions Available - Agriculture Income
Please advice.
Is FIRA advice issued by paypal for exports admissible as proof for GST refund purposes?
Sir,
Our company offering a plan of Virtual plot, our customer will purchase Virtual plot and We will give them to monthly Rent of 21000 per month, (Rent will pay, condition will mention on each Invoice) Now my question is tds deduct on 194I (Rent) or 194A (Interest).
Error :Deduction u/s. 54EC claimed here (Table D) should match with total of deduction(s) claimed in respective asset.
Please advise
Suppose, in an FY, a senior citizen cancer patient makes expenditure of Rs. 4.5 lakh for his medical treatment out of which, Rs. 4 lakh is reimbursed from insurance company. Can he claim the rest amount i.e. Rs. 50k (i.e. 4.5 lakh - 4 lakh) for deduction u/s 80DDB of Income Tax? Or he can't do so since reimbursed amount (i.e. Rs. 4 lakh) is more than max. deduction limit (i.e. Rs. 1 lakh) under the said section?
Dear sir/mam...Total amount of active and inactive shares should be taken in ITR-2 or only active shares amount should be taken???
Please anyone answer me
DEAR SIR,
ONE OF MY CLIENT SOLD AGRICULTURAL LAND IN THE YEAR OF 2011 AND THE COMPENSATION PAYMENT RECEIVED IN THE YEAR OF 2021 RS 882000/- AND INTEREST ARREAS RECEIVED IN THE YEAR OF 2023 RS 1566601/-.
THE INTEREST FROM 2011 TO 2023 IS ARREARS TAXABLE OR NOT TAXABLE
TDS NOT DEDUCTED IN THE YEAR OF 2011 AND ALSO 2023
PLEAS CLARIFY ME IF TAXABLE INTEREST OR NOT
REGARDS
Assessee has purchased flat in Dubai
He has not made full payment towards the cost of the flat but has possession of the same
he can go and stay in the flat
My question is whether to show details of this flat under Foreign Assets in income tax return ?
client is a cricketer,his fees reciept for ipl is 4025000,i want to know that if i am eligible for 44ada,and if im eligible for 44ada, then when im selecting business code of 20023 of other sports activities then my software is guiding to me choose 44ad instead of ada .
so what should be treatment done for it
Respected Sir/Madam...
I am availing medical insurance through my employer and employer is deducting under MEDICAL INSURANCE, which is also shown in my payslip. Can I show this as my contribution for health insurance in 80D ?
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Total Income Calculation - Schedule AL