Dear Sir,

I am having 2 types of Income i.e. Contract Income of Rs. 15 lacs on which TDS is deducted @ 1% and Professional Income of Rs. 3 lacs which I receive for providing various taxation and other consultancy services. On this professional income no tds gets deducted but I have to show in Balance sheet as my income.

I wanted to know will there be any query raised by Income tax department in future if I show 2 types of Income in my file and whether it is now right if I file the return U/s. 44AD as I used to do it previously when I was having only Contract income.

My total turnover doesn't exceed Rs. 20 lacs in the entire financial year.

Please suggest me in this matter as I have to still file my return for F.Y. 2019-20.

Regards,
Divyesh Jain

i am filled ITR F Y 2017-18 and 2018-19 form ITR 3 but i want now i fill ITR form 4 any problem if i am filled ITR form 4 FY 2019-20 . if i fill ITR 4 now income tax department send me notice ? please help me about my above problem.

can the deduction under 80p be claimed by filing belated return?

If there is a mistake in the income tax return and tax audit report in the stocks quantitative disclosures of a manufacturing company, what will be the repercussions ? The same wrong stock details were entered in both the places.

Kindly advise me about TCS deductions.

We are seller of spares,tyres,service to customer.

Recently customer issued a Purchase order and considered 0.75% as TCS very first time.

Please make us understand each by each clause.

Regards
G.Srinivasan

Hi Please tell anybody this doubt

My client was filed income tax return u/s 44AD for AY 2018-2019 & AY 2019-2020.

Now for AY 2020-2021 I want to file regular return without tax audit (i.e. not u/s 44ad) and i will show the profit more than 44ad calculation (i.e. more than 6% for other than cash sales and more than 8% for cash sales ) now i am declared the profit according to sec 44ad(1) in regular return.

is this eligible? correct or not?

I opt from 44ad before 5th year but i show the profit according to sec44ad(1) in the present year.

Please answer to this...

I have income from physiotherapy (Tds deducted u/s 194J) and received income from stcg (AY 2020-21).which ITR should I file?Gross receipt is Rs. 203,452 and SBI mutual fund receipt is Rs. 9,000.

Assessee sold a residential Flat-A on 09-10-2020. He had already purchased Flat-B on 11-12-2018. Can cost of Flat-B be deducted from the sale value of Flat-A for the purpose of exemption under Section 54 of Income Tax Act? Kindly help.

15 G available sec 194j under I.t. act.

Dear sir,
Can we expect tax audit due date extension

Thanks
Nikhil