Hi

One of client (retired person)withdraw 75% fund in 2020 under superannuation annuity plan and now getting superannuation pension for fy 2022-23 ay 2023-24 .Whether this superannuation pension is taxable or exempt in hands of client ? under which conditions we can claim exemption or deduction for superannuation fund pension for retired person?

Hello,

Every year I fill ITR 4 for presumptive basis of taxation for FNO trading. This year I saw that they have introduced a new compulsory section for assets and liabilities declaration for reporting purposes.

What can I fill for assets when I have some money in the brokerage account and remaining blocked as margin for FNO trading?

Hi

One client registered their partnership firm last year but not started any business or business with very minimum output but got pan card under partnership business name.kindly suggest while filing itr 5 for fy 2022-23 ay 2023-24 with zero turnover and zero profit whether partnership firm need to do tax audit for zero turnover or not.Just filing of itr 5 with zero value is sufficient to do compliance only.

if this intimation is there for refund what to do
Your Return for A.Y. 2023-24 has been processed. There is no payment due.

Hai Team
I had written 2nd group inter exam under unit 10 scheme and had exemption in Paper 8 FM and Economics by writing unit 10. In my May 2023 attempt I got exemption in Paper 5 Advance Accounting.
Can I claim exemption on Paper 5 Advance Accounting for November 2023 exam?
Kindly clarify. Your clarification will be helpful.
Thank you.

Dear Experts
Client has profit from his professional income being a doctor 6 lakh. Turnover is 10 lakh so profit from profession is more than 50%
He has loss in F&O trading around 2 lakh. F&O turnover is 5 lakh
However, while filing ITR, getting an error that net profit from profession is below 50% and you are liable to tax audit.
as when we file combined P&L in ITR, Net profit is 4 lakh ( 6 profession and 2 F&O loss )
Turnover from Profession 10 lakh and F&O 5.
ITR is considering Profession turnover of 10 lakh and giving a warning for tax audit as profit falls below 50% in P&L account
Kindly guide with your opinions. Whether the tax audit is required ? But respective turnovers are below the applicable limit

For under construction Building cost incurred for ATT Reticulation systems.
whether should be capitalised.

Sir/mam,

I had reversed all ineligible expenses fy 2022-23 taken in GSTR 3B Return as per 2B , Reversed voluntarily in GSTR3B March retrun Now I am having doubt i mentioned in GSTR3B reversed column (2) Others it is correct or not.

Plz clarify my doubt

Thanking you,

Hello ji,

I am a Central Government Servant. Recently I came to know that by becoming an HUF can a person save tax. Pls share that how can I applied for become an HUF.

Hi
Client had a business (F&O) loss in AY 2022-23 and carried forward that loss and had filed under old regime. However in AY 2023-24 he does not have any business income only business (F&O) loss of previous year and salary for this year.
The new regime is beneficial in AY 2023-24, do we need to file form 10IE if there is the following income
1. Salary
2. Capital Gain (Shares)
3. F&O loss to be carried forward from last year