Dear Experts

I hold some Equity share as Investment in my books of Account as on 31-3-17, now in FY 17-18 I have profit from the Selling those stock and other income also.

If I want to go STCG then Tax liability is much.
So my Consultant suggest that we will Consider these stock as Business Income.

So my question is that, is this proper as Income Tax ?

can we consider stock of Equtiy Share holding as investment.

Any valuation change as on 1-4-17 or Invest price.

Kindly do the advice me.

Circular 23/2017 dt 19.7.17 clarifies that TDS should be deducted on amount excluding GST, provided GST is indicated separately.

Now, under Income Tax act, for what purpose should this circular be applied.
1. For the purpose of ‘determining the amount’ on which TDS should be calculation
2. For the purpose of ‘determining TDS APPLICABILITY’ ie: scope of TDS threshold limits

If the scope of the above circular be applied on point no 2, please support your answers with applicable Caselaws or guidance note issued on this.

Eg: If excluding GST, TDS threshold limit is not triggered, but the limit is triggered on including GST. So should TDS be deducted ?

HELLO, ITR FOR AY 18-19 FILED TAKING AMOUNT WHICH WAS SHOWING IN 26AS. NOW THE FIGURES HAVE BEEN CHANGED IN 26AS. SHOULD WE FILE REVISED RETURN OR CPC WILL TAKE ACTION TAKING LATER AMOUNT, OR WAIT TILL THE PROCESSING COMPLETION.

When should I report to Income tax authorities after closure of business.

we want to pay travelling exp to our employee which is approx. 10000.00 per month
payment by cheque.
we will reimbursement this exp. in our books of accounts
& this is not a part of salary.


my. q. is how to show this exp in salary slip.
is this exp will reflect in form-16

thanks in advance

Sir,

Today I had paid TDS Challan online but by mistake section mentioned 196c instead of 194C

Please how to rectify the section and what is the procedure kindly explain

We have to online or through Bank

Thanking you

can I file an ITR having Gross Total Income of 295000 after 31st august without penalty?

Are 12A & 80G registration for Income Tax Exemption done by online ? If yes, how it is done and from which website it is done ? Please guide me ?

As on which amount of salary ESIC & PROVIDENT FUND DEDUCTION IS 100% EXEMPTED.

Whether one is 100% exempted from ESIC & PROVIDENT FUND DEDUCTION if the salary payable is above Rs 15,000 ?

Please guide me and oblige.

Hi, which ITR form need to be used in case of Partnership Firm where Audit is not applicable, that is when Turnover is below 1 crore and Net loss?