last year balance sheet was made first time for an individual considering all assets investments and liabilities and on this basis capital arrived but one investment of rs. 20 lac was not entered in BS .So question is can we include the investment of 20 lac in current year BS and increase the capital by 20 lac.

I have recieved foreign dividend income directly to my account on 17 March 2024. In my case dividends are directly credited to bank account by the custodian and not to the custodian or brokerage account. Further custodian does not maintain ledger.

In my ITR do I show the date of receipt of dividend I.e, credit to my bank account on 17 March 2024
Or
I reflect the date of AGM I.e., 10 March 2024.

Thank you to all who have answered my previous queries, very helpful.

My client received LEAVE ENCASHMENT & SEVERANCE PAY & EX-GRATIA from employer (PRIVATE SECTOR) as part of Separation Agreement of for discontinuing/termination of employment due to Lay-off due to general Global economic Slowdown. He can join any other job after separation. In from 16 Employer deducted Tax on all salary including above terminal payments. In salary Slip for that month its shown as "LEAVE ENCASHMENT & SEVERANCE PAY & EX-GRATIA" without mentioning whether its exempt or not. Shall I take this as exempt in a salary & if yes then under which section.

partnership firm having turnover 2.46 cr and Profit is 3% , firm receipt and payment is from banking channel ,weather firm is liable to tax audit?

If E way bill was not generated and order of DRC-07 was issued containing penalty of 200% of tax amount u/s 129(3) of CGST act as the goods in transit were exempted goods
Penalty was already paid by assesse by cash ledger
So now appeal can be filed against such order?
If yes is there any format of statement of facts and grounds of appeal available?

If i have received 10500 per month (126000pa)interest from a salaried person . Do that person if required to deduct tds
And also rebate is available to me for intt amount

My brother residing USA and when filing ITR found that
115A(1) (a)(iii) -Income received in respect of units of UTI purchased in foreign currency
but he didnt purchase any
can we delete and proceed or what can do?

Hi All,
Is there any website or any reference guide for Individual Taxation Rules which can explain any new rules or taxation laws for any layman to understand the Filing Income Tax for Individual. For example there is 10% Surcharge for income above 50 lacs etc . Any website which can explain clearly with examples or calculate it for you with all latest rules showing the workings as well.

Really appreciate your help.

Thanks,

Dear Experts,
We have f&o loss, in ITR3 of trading Account should I report sale value of f&o in other operating revenue ?? And at serial 12 (A) turnover from intraday (b) income from intraday. Should report only f&o turnover in 12(A) with -f&o loss in 12(B). ??

Pls suggest

Thanks

My employer has included a certain amount of money in my income called "Tax paid by employer on behalf of employee", though this was never received by me. They have also shown this amount as an exemption in my form 16.
I also observed that the total TDS deposited by me (as shown in AIS and form 16) is the total income tax deducted from my salary plus this amount of "tax paid by employer on behalf of employee".

My query is - is this the correct way to handle tax paid by employer on behalf of employee. Should it be included in the TDS?
Should it be included in my salary, if yes should it be exempt while calculating taxes? What is the reason for that?