15 July 2018
For AY 2018-19 wanted to confirm a few items mentioned below- 1) Which ITR to be filed - ITR 3 right 2) As she does not maintain proper records so in BS & PL so her details fall under NO ACCOUNT CASE. On what basis she can claim expenses since in the past she was getting 50% deduction of new insurances and 15% for renewal policies. 3) Apart from that she has invested in share market. Do i need to disclose worth of shares she is holding? Also do we need to disclose dividend income, if yes where?
15 July 2018
For commission you have to file ITR 3
Capital gains profit or loss to be declared only after sale or realisation of security Dividend received from domestic companies in excess of Rs10 lakh attracts tax @ 10% under Section 115BBDA .other wise Exemption under section 10(34) is granted to dividend received from an Indian companies.
CAclubindia
