Which ITR to file - both business
Which ITR to file - both business
If I do both business as (sole proprietor) and F&O trading. So in this case, which ITR should I file and how should I mention both separately?
1 year ago
A. Dear Client, since income from F&O trading is to be treated as business income, therefore an individual filing return with F&O trading income has to file ITR in form ITR 4.
Hope this helps
Capital gain tax -buying a resale flat
I am buying a resale flat of which the set forth value is 29lakh and the market valuation comes Rs 36lakh which is a difference of Rs 7Lakh.My question is 1. Did the purchaser have to pay any capital
1 year ago
A. Dear client, the buyer of the falt will not have to pay any capital gain tax. However, on the other hand the seller will have to. Moreover, there is always a tax exemption option for bot the seller in long term capital gain.
Switching between tax regimes
I have income from freelancing websites like Upwork etc and I am also a salaried employee of a private IT company in India. I need to know if I can switch between New and Old Tax regime every year or
1 year ago
A. Dear client as per Section 115BAC of Income Tax Act a salaried taxpayer can opt in and opt out every year. That means you can choose the new tax regime in one year and choose the regular tax regime in another year.
Should I file income taxes from my adsense earnings this year or next year?
Hi, I have two questions regarding filing income taxes 1- I am yet to receive a payment from google for ads displayed on my website. The amount is around 8 lakhs and the period in which this amount
1 year ago
A. Dear Sir,
Since it is tax related matter as such you may go to any chartered accountant or auditor to clarify your doubts and get authenticated clarifications.
Legal Proceedings for tax evasion
I received a notice from IT department u/s 148 for income that escaped assessment. This notice is valid and I filed a revised ITR disclosing the complete sum. I am waiting to pay the tax and penalty w
1 year ago
A. Dear Client,
If you have accepted the notice and are paying the applicable tax then the Income TAx department will not have any reason to take you to the court. What they want is the tax plus penalty, if any, to be paid by you.
Income tax -I want to know about income tax related
I want to know about income tax related problems
2 years ago
A. Dear Client,
You may contact a Chartered Accountant who could help you with tax related questions.
Hope this solves your query,
Thank you!
Income tax -filing itr necessary for online sellers
Is filing itr necessary for online sellers if total sale is below 2.5 lakh
2 years ago
A. Dear Sir,
As per my limited knowledge it may not require filing of ITR anyway approach any chartered accountant.
Need advice urgently
My mother is a housewife and a widow and has been judiciously saving money aside in FD's. We are people of less means. We gv 15G form every year. We have never filed income tax returns. My mom is not
2 years ago
A. Dear Client,
As per the facts which have been provided, you should contact the Income Tax Department and state your confusion.
Hope this clarifies your query and requirement.
Thank you.
Advocate Sinjari Bandyopadhyaya
False return submitted by Business partner
We 3 persons were in a partnership business with equal rights. One partner was handling all the financial documentations. After 3 years of business I found that there were lot of financial irregularit
2 years ago
A. Dear Client,
As per the facts mentioned, you should firstly collect evidence against the partner, then sue for the breach of trust. Generally, a criminal suit will be filed under Sec 420 of IPC, if the partner commits cheating, or acted dishonestly and also under Sec 406 of IPC for criminal breach and also a civil suit for recovery of money and will be arrested and penalized under the respective section.
P.Tax Registration Done by Mistake in the Name of Employee
Sir, With ref. to the notice Case No. xxxxxxxxx, Dated: - xxxxxxxxx, I, xxxxxxxx, would like to draw your attention towards the fact that, I was an employee in xxxxxxxx Pvt. Ltd. from 2009 to 2020.
2 years ago
A. Dear Sir,
You may approach any professional auditor or advocate and hire their services to save you from the present situation. The concerned department will understand your problem and may rectify the mistakes otherwise approach High Court for necessary directions.
