I am salaried with TDS @ 30% (per Old Regime) along with Capital Gains ( Equity / Debt MFs ) earned during FY 21-22. No ITR has been filed for this period. Neither Original, Nor Belated. But I had made payment of Self Assessment tax, due to which tax deposited is more than my tax liability.

Now, as I am trying to file ITR U for this period ( AY 22-23 ), the Tax Advocate, whose help I am seeking, tells me that ITR U cannot be filed since refund is not allowed (as tax deposited is greater than tax liability) and that I would have to increase my tax liability by showing additional income to be able to file ITR U. I am not sure how I can increase my tax liability when I don't have any other income for this period.

Based on above, request for guidance on following queries :
1) Whether I can file ITR U ?
2) Whether any additional charges, such as penalty etc., are payable, considering that tax deposited is more than my tax liability for this period (AY 22-23) ?

Sir,

Whether Form 10BD is necessery incase of non receipt of donations during the financial year 2022-2023

Dear Experts,

In one of the case, individual has taken loan of Rs 25L for house purchase and improvement. However agreement value of the house is Rs 11,42,000/- . Hence differential is towards House improvment. Please advice whether interest and principal towards house improvement can be taken as deduction in income tax? since there is no seperate break up , total loan of Rs 25L is for both.

Regards,

Hello All,

Renovation of office taken on lease for 5 years, should it be capitalized or shown as expense.

Sir/Mam,

In our GST , fy 2022-23 Turnover Page showing difference ie Estimated 2.9 cr and Based on Returns Filed 1.91cr , we are exporters from last year onwards we are taking einvoice ,

Why this difference showing, our original turnover is 1. 91 cr how to deal with this

Plz kindly explain what is estimated turnover. how to delete difference amount.

Thanking you,

One of my client has salaried income and doing F&O trading. In the last two FY i.e. FY 2020-21 & FY 2021-22 he has loss in F&O and asked to do Audit. So I audit him under sec 44AB(e).

Now, in the current FY 2022-23 he still have loss in F&O. Is audit applicable or we can file normal return.

Experts,

Need clarification on below points.

1. Trading in MCX commodity is speculative or non speculative? Trading in intraday or holing till the contract period does it change the nature of specualtive or non speculative?

2. In MCX commodity we select contract as either Future or options, can we say it is Futures and options?

3. Trading in NSE, futures is F & O?

4. In MCX commodity also Futures and in NSE also future does both transaction belongs to Future and options?

can a assessee gave his/her business(Marriage hall renting) to his/her spouse as a "GIFT"?

How to give effect as per income tax? Please explain and what is the procedure to do like that.

Thanks in advance.

I filled HP schedule but the interest is not being reduced from the total income. and this interest showing in Schedule carry forward losses.

I was working with an organisation which was part of EPFO.
Now , I have joined new organisation which is having private trust and not registered with EPFO.
I am trying to get my PF balance from previous employer transferred to my new organisation but previous organisation is not able to transfer the same since my current organisation is not registered with EPFO

Is there any way to get transfer done?