ITR filing
I filed ITR-2 in previous years . This financial year i have no transactions in stock , f&o or any capital gain( P&L statement has no transactions record). Only dividend and interest on savings accou ...
I filed ITR-2 in previous years . This financial year i have no transactions in stock , f&o or any capital gain( P&L statement has no transactions record). Only dividend and interest on savings accou ...
Dear client,
ITR 2 is required to be filed only when you have income from the sale of shares and securities or mutual funds. It is not mandatory if you have no income from those sources.
I have professional income declared for FY 22-23. Opting for new tax regime is saving me significant amount of money for the current ITR. However, in the current financial year (FY 23-24), I will not ...
Dear client,
Individuals with business income will not be eligible to choose between the two regimes every year. Once they select new tax regime, they have only once in a lifetime option for switching back to the old regime. Once they switch back to the old regime, they won't be able to choose a new regime anytime in future
Other Responses
Sir, I have checked my Form 16 where I have noticed that Travelling Allowance(Exempted to the extent received), Uniform Allowance(Exempted to the extent received) Risk & Hardship Allowances( Upto 13 ...
Dear client,
If you, the taxpayer are not satisfied with the computation, you can contact the income tax officer or request a comprehensive report online. The extra TDS deducted will be credited to the taxpayer's bank account, which must be specified when completing income tax returns electronically.
Sir,i have got arrears for last two years(for nursing allowance) in my account from the employer.But this arrear was not given with salary(it was given separately in the mid of march). Sir,but this ar ...
Dear client,
Please ask your employer to show the proof of arrears of salary. Else the relief cannot be claimed.
In case of receipt in arrears of any sum in the nature of salary, relief can be claimed u/s 89. In order to claim such relief, the assessee has to file Form 10E. The Form must be filed before filing the Return of Income.
Hello, This is to request your guidance regarding TDS deduction by the tenant before paying rent to the NRI owner of a residential property in India. I live in a rented flat in Noida, U.P., paying a r ...
Dear client,
Tenants paying rent on properties owned by NRIs are required to deduct 31.2% tax at source and submit the aggregate amount to the tax to the relevant tax authority. So yes, you can deduct the TDS
I am getting risk allowance as state police personnel and posted in LWE affected district shall I claim exemption u/s 10(14)(ii) rule of Income Tax under Highly active field area compensation
Dear client,
This is solely a matter regarding your finances. Please consult a relevant chartered accountant who may assist you better
Other Responses
1. In crypto Income tax = sale price - cost price. But what if I buy 1000 usdt (86 INR/usdt, for example), after that got in debt 100 usdt from foreigner and sold all this quantity - 1100 usdt (87 INR ...
Dear Sir,
Please consult any Auditor or Chartered Accountant as issue related to Tax matter and they are well versed with the said subject.
3cents of property is partioned into1.5 each. But we are getting tax for whole 3 cents each. May i know y??
Dear client,
The tax assessment on your property may depend on several factors, including local tax laws, assessment practices, and the specific circumstances of your property. Without more specific information about your location and the details of your tax assessment, it is difficult to provide a precise answer. However, here are a few possible explanations for why you might be receiving tax assessments for the entire 3 cents for each partitioned portion:
Unchanged tax assessment: If the pro
Other Responses
Hi, we procure lime stone for manufacturing of Soda ash, after the process some waste material be there mostly lime stone is there (not in its original form), when we procure lime stone from mines we ...
Dear client,
Yes, it is applicable. Section 9 of the MMDR Act 1957 provides that the holder of mining lease shall pay royalty to the government in respect of the minerals removed or consumed from the leased area.
my grandfather received a land form refugee relief rehabilitation department west bengal . after his demise i sold this land for 35 lacs. do i need to pay capital gain tax on it???!!!
Dear Client,
A land gifted by the Govt. of WB to a refugee under the Refugee Relief & Rehabilitation Scheme to your grandfather, it got a locking period of 10 years from alienation/transfer of title to anybody. If the said immovable property left intestate by your grandfather then surviving family members/legal heirs become entitled to an equal share in the said property. Thus, the share of your father devolves upon you as an ancestral property which is also shared by all the legal heirs equally
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