18 August 2019 at 18:52

Tds on foreign payment

I am making payment to USA Freelancers for giving me services related to my mobile application.
The amount is very small may be 15$. The said freelancers is not have TRC. If he gets it from his country of residence it will cost him 100$. So he is not willing to spend such amount. We are ready to bear their tax burden on us. Please provide me rate of tax that should be deducted and form that should be submitted to income tax.

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18 August 2019 at 17:36

Futures and options

Plz help me how to fill f&o loss in itr3. I got trading p&l statement from my broker. Added net positive figures 300000, filled in sale of services in ITR3. Added negative figures filled 500000 in purchases column. Arrived net loss. Am I correctly doing. Plz tell me any one.

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18 August 2019 at 16:07

Which itr form to file?

Sir my primary source of income is from car rental and small income from insurance also. In my 26AS section is showing 194C, 194J and 194D.
In which ITR form i have to file returns. Can i file in ITR 1 showing income in other sources or any other forms. Kindly assist.

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18 August 2019 at 15:26

Iepf amount treatment

Due to default of my broker, my shares were transferred by it and I have not received any amount for them through IEPF. How to treat the loss on the shares in ITR?? Should I show sale value as zero or what??

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18 August 2019 at 15:25

Audit requirements

Dear sir,
A partnership firm has earned gross receipts rs 327000 and tds rs 32700 deducted and same showing in 26as.
Assesse does not want to get the audit done. While filing itr-5 can he showed expenditure equal to gross receipt.

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18 August 2019 at 15:05

Partnership firm-tax audit applicable ?

Kindly guide me in this query.

While filing ITR for a partnership firm,

Total Sales – Rs. 25,00,000
Net Profit before interest and salary– Rs. 4,50,000

Interest on Partner’s Capital- Rs. 75,000
Salary to Partners- Rs. 250,000

Net Profit after Interest and Salary- Rs. 1,25,000

Criteria for 8% of turnover is net profit before interest & salary or after interest and salary ?

Kindly advice me on the same.

So, since 1,25,000 is less than 8% , does it qualify for tax audit ?

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18 August 2019 at 14:49

Two different business under one pan

Respected Sir,
Please guide me if an assessee having two different business one is under tax audit and the other one is below tax audit whether we can show a business under tax audit and other one under 44AD.

Thanks & Regards,

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For FY2018-19, I have incurred short term capital loss and long term capital gain (taxable at 10%) in my share trading account. I want to carry forward the short term capital loss and pay tax on the long term capital gain. But while filing return through software, the short term capital loss is getting set-off against the taxable long term capital gain. How to avoid this ?

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18 August 2019 at 13:46

Regarding filing of income tax return

Dear Sir,

You are requested to kindly clear my following Query :

(1) Sir, I work in a private limited company, from there I get salary and that company has issued some shares in my name, now I am asking you which income tax return I have to file.

(2) Sir, I work in a private limited company and from there I get salary and I have bought and sold some shares, now I am questioning you what income tax return I have to file.

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18 August 2019 at 12:46

Itr filing

Dear experts,
I have a querry:
If a person has GST registration for his business on PAN of some other person, can he file ITR for that business on his own PAN ?

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