Dear Sir / Madam,

Mr A approached to file his income tax return for FY 2024-25 for the first time. His income includes Interest income, STCG, LTCG and Futures & options. When last year's ITR was checked, it was found that his personal assets, including flats and fixed deposits, were disclosed along with F&O-related data. Due to this, his capital became much bigger, in crores.

I understand that his business-related data only should have been disclosed instead of all his assets & liabilities. His business capital is just a few lakhs.

So, while filing his ITR for FY 2024-25, can his ITR be filed with business details only, removing personal assets from his entire balance sheet? He is also not maintaining all his personal data properly. So, his earlier crores of capital will be seen in lakhs of rupees only. Will this create any problems or any scrutiny?

For financial year 23-24 the business code 14005 was available in ITR3 but for financial year 24-25 this code is not listed in ITR3, expert guidance is required regarding which code should be opted for FY 24-25 in case this code 14005 is not available. Please guide.

I have filed 5 return in AY 2023-24 Original return in which I claim political donation After that I revised return without political donation and paid tax Revised return is processed with demand So I did file rectification where again demand came which is paid then I file updated return which is invalid Again I file rectification which is rejected In original return I claim political donation which is nullified by department as Another return fileIn other 4 return no political donation is cliamed Repeated msg are coming for political donation

My FNO Turnover in F.Y 2024-25 is 54,866/-. FNO Loss is 5,301/- and FNO Expenditure is 2,566.82/-
My query is:
1.Whether you are liable to maintain books of accounts under section 44AA should be yes or no?
2.If yes what amount will be shown in balance sheet and profit and loss account in ITR3?
3.Where to show FNO Turnover, FNO Loss and FNO Expenditure in ITR3?

What should be the TDS rate on Fees payment to Foreign Artist (USA) performing in India ?

Dear Sir / Madam,

I have query regarding that a person received overtime income apart from his salary income for his extra hours work. Overtime income paid via bank. Now, where I have to show this income while filling ITR-1 or ITR-2?

Thanks and regards,

Pratik N Patel

Dear Experts,

I am registering HUF on IT portal.

However what to mention on principal contact details. Karta or HUF? If details of HUF pan are mentioned , then it generates gender mismatch error. Pls advice

Regards,


Please advice

WHAT TYPE OF EXPENSES TO BE SHOWN IN ITR FOR COMMISSION INCOME

Dear Sir,

A DIRECTOR PURCHASE A PROPERTY HIS OWN NAME ABOVE 50 LAC AND PAY ALL THE PAYMENT TO SELLER THROUGH PVT LTD. COMPANY'S BANK ACCOUNT. IT IS POSSIABLE OR WHO WILL PAY TDS AMOUNT DIRECTOR OR COMPANY?

DIRECTOR, NEVER PAY SINGLE AMOUNT FROM HIS BANK ACCOUNT AND COMPANY WILL PAY ALL THE PROPERTY VALUE?

IT IS ETHICAL AS PER COMPANY LAW?
PLEASE SUGGEST.

If a senior citizen Having Pension income of 18 lakhs per annum and also has Parking Rental Income of 15 lakhs per year. Can he file a return which shows Parking Income as Income from Business & Profession having taxability under section 44AD presumptive taxation and the pension part separately under Income from Salary.
Please Guide
Thanks in Advance