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gunasekhar

Please provide the business code for trading in futures & options, intraday trading,shares etc for AY 2018-19

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Dev
21 July 2018 at 20:11

Section 234F late fee

Dear experts, if income below exemption limit like only 2 lakhs and i file return after due date.. will late fee u/s 234f be applicable or not??

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Anonymous
21 July 2018 at 19:27

Short term capital gain

I had burrowed an unsecured loan and i also have secured loan .I have invested these amount in shares .I also invested in portfolio management services . I am gaining short term capital gain on sale of shares .can i deduct Interest and pms fees from my short term capital gain .

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Anonymous
21 July 2018 at 18:39

Disclosure of foreign bank account

I have a foreign bank which I had opened when I was working abroad couple of years ago. My salary went to that account. Now I reside in India for past 3 years. I have not transferred my money in the foreign account to India. There is no income in that account other than interest, for which is taxed there.
Do I need to declare that account in ITR? If yes, do I need to mention the interest earned?

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yogendra prakash sharma
19 July 2018 at 21:03

E- verify

What is prevalidate bank account ? What is the process of the same ? What is the merits or demerits of prevalidate bank account ?

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TARIQUE RIZVI
19 July 2018 at 17:07

80c : deduction

PPF RS. 1,20,000 + LIC PREMIUM RS 37,796 = TOTAL RS 1,57,796 OUT OF THIS RS 1,50,000 IS ALLOWED BUT WHILE CLAIMING RS 1,57,796 IN ITR-2 THE ALLOWED DEDUCTION IS JUST RS 1,26,501 INSTEAD OF RS 1,50,000. PLEASE SOLVE MY QUERY. AND OBLIGE.

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Prem Moolwani

I have a proprietory business. I have filed since last 3 years ITR-4 (Sugam).

In Coloum E-11, regarding partners/members capital. Is it necessary to show Proprietor's Capital or not.

Can I show my LAST THREE YEAR'S PROFIT as Proprietor's capital or not?

Please give me your expert advice.

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Anonymous
19 July 2018 at 12:53

Variance notice section 143(1)(a)

The notice is about disallowance of expenditure indicated in audit report but not taken into account in computing total income in ITR u/s 143(1)(a)(iv)
.Particulars: As per ITR As per Tax Audit
Report
Inconsistency in amount 0 say 2/- lac
disallowable under section 40(a)(i),
on account of non compliance with the
provisions of chapter xvii-B sec 40
Query: How to rectify this inconsistency? We have mentioned erroneously amount under column of section 40(a)(i) instead of 40(a)(ia)in tax audit report. We have uploaded revised audit report by correctly mentioning amount under column 40(a)(ia). Whether we need to revise ITR also since there is no mistake in ITR.

How to answer the query when the below mentioned 3 options are coming:
1.Agree (file revised ITR return)
2.Partially Agree (file revised ITR return)
3.Disagree (Response).

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Anonymous

IN PARTNERSHIP FIRM, (WHERE PROPER BOOKS OF ACCOUNTS MAINTAINED) NET PROFIT CALCULATION BEFORE DEDUCTING INTEREST ON CAPITAL & REMUNERATION (i.e. 8 % PROFIT ON TOTAL TURNOVER) OR AFTER DEDUCTING INTEREST ON CAPITAL AND REMUNERATION.

FROM F.Y. 2017-18 INTEREST ON CAPITAL AND REMUNERATION IS WITHDRAWN FROM PARTNERSHIP FIRM ?

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skshivliha
17 July 2018 at 17:44

Gift tax

IF A JETHANI GIVES A GIFT TO HER DEVRANI,WILL IT BE TAXED

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