Income from 44AD is to 2,00,000/- and income from partnership Rs.1,00,000/- which are shown as business income in ITR-3. Error indicates submission of balance sheet as business income exceeds 2,50,000/- lakhs. Whether balance sheet required

Sir/Madam,
Where to show Share intra day trading profit/loss in ITR because it is not his business income, so where to show it

I wanted to ask that as stock broker we do the trading in both proprietary and client. and as per RCM list there is gst on SLB borrowing fees. that we paid.

Can we take the input tax credit of RCM liability paid to set off the GST output liability???
If yes pls suggest any case study or notification.

The Output GST is on brokerage charges to client.

A person has salary income, one presumptive business income and F&O business income. So what should be shown in balance sheet. Only balance and details of fund related to F&O business or both the business if his turnover is below Audit requirement.

I have a query regarding political consultant , this profession falls under which business code in income tax.

Can assessee claim interest on housing loan, if the property is gifted to married daughter (it is on her name) and assessee is the borrower and emi payments are made by him? Kindly resolve

Thanks in Advance.

Dear Experts,

I have two queries with respect: -

1. If turnover of individual exceeds ₹ 1 crore in FY 22-23 and he wishes to opt for non-Audit clause of ₹ 10 crore after satisfying the criteria of 5% limit do that individual still needs to take TAN Number even if he is not liable to Audit?

2. In continuation to above question if TAN is required but the individual does not acquire TAN number for FY 22-23 and T/O of the individual is ₹ 1.8 crore for FY 22-23, and he opts for presumptive taxation u/s 44AD since T/O is below ₹ 2 crore wherein he declares 9% as profit (more than 6% as required u/s 44AD) does it cause anything if TDS not deducted since there are no specify declared u/s 44AD ?

3. Assessment opens up for FY 22-23 after few years and officer ask for basis of 9% profit (basically details of income and expense claimed) :-
a. Do we have to provide them the details of income and expense since for that FY we had
opted 44AD ?
b. Even if we provide them and officer founds that TDS was applicable on few expenses but
was not deducted by the assessee and disallows 30% expense will this 30% will get my
profit already declared u/s 44AD for that year ?

Dear Sir/Madam,

I was an employee till August of the FY 2022-23. Then i started a partnership firm along with my friend in Jan 2023. I switched to partner from employee in the same FY. What ITR should i file.

Also, We did not register the partnership firm, but having business PAN in the name of the firm. What ITR to use for my business pan. Please advise.

Can a person having salary income file a revised return in old tax regime which was originally filed in new tax regime.

HI Experts,
I am planning to put my two flats on rent and would like to know
1. Which ITR form will need to be filled for Next Year FY 23-24 .Income is below <50 lakhs & other income sources are Fixed Deposit/Savings Interest & Dividends
2.Is it beneficial if the rental income is received in separate bank accounts ?
3. Are there different tax slabs or income treated differently if not using ITR1 form ?

Thanks,