Can a deposit amount be conidered under standard deduction
Querist : Anonymous
I invested Rs. 80,000 on my brother's business [under his name] as "Deposit Money" for acquiring an agency [refundable at the end of agreement] .
Can I show it under Investmenst while filing my ITR.
If possible please recommend a section / sub section under IT Act for the same
Querist : Anonymous
1. I am a salaried person. So should I show it as deductions [Loan Given] under section VI A. If not, please suggest the appropriate section in Form 16. [if possible with relevant Section / sub sections].
2. If I cannot show it under section VI A. Then Can i also, separately, declare an amount of Rs. 1 lacks as investments and get a deduction whie filing ITR.
Querist : Anonymous
Querist : Anonymous
Can my brother show it as Income Tax deduction while filing the ITR.
Click here to login now
Similar Resolved Queries
- Price inclusive or exclusive of GST while made entry in P& L Account
- Gst registered proprietorship firm
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Minimum tax payable to file Updated return
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- TDS on Fixed Assets purchased
- TDS on purchase of under construction property from a reseller
- GST Intimation due to Government took possession of Business Premises under PPE Act
- Salary from Qatar in Dollars in India
- GST ISSUE OF INPUT AND OUTPUT GST
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
