Sir,
If I made Turnover of 3cr in F&O and made loss of Rs. 10 Lakhs and only has Salary Income other than that. Is it mandatory to get Tax Audit or Should I file Normally. Since F&O And Salary both are through bank not Cash ?

We are Register as a Partnership Firm.
We are Builders & Developers, We have Turnover 1.60 Cr in FY 2023-24
All receipt in Bank Accounts only
Can we file ITR 3 with 6% profit

Pls Suggest

Sir,
Assessess maintained a jewellery business in own commercial building.if assessess commercial building demolished govt for road extension purpose.assesses rs:15 lacs amount received from govt
Question:
Assessess received amount tax applicable for income tax purposes.

The return of income for AY 2024-15, for the purpose of income declared u/s 44AD or 44ADA requires breakup of receipts viz. Bank(ECS/Cheque /DD), Cash and UPI ( Other Than ECS/Cheque/DD/Cash)

The assessee desires to declare net profit u/s 44AD @10% which is more than 6% and 8% as prescribed and instead of filling breakup of receipts puts entire receipts in the cash column.

My query is whether the Assessing Officer may claim that what has been declared in the cash column is not your total receipt of business but it is only the receipt in cash and the receipts in the bank account and valets have escaped assessment as the same has not been so reported.

Please advise. Thanks

The amount/expenditure shown under Sale of listed equity shares in the AIS for FY 23-24 does not agree with the amount in the Capital Gains Statement issued by the Broker. Do i have to take up with the Broker or submit online feedback on the relevant entry in the AIS?

Dear Expert,
I am Salaried Person with salary of 2.75 Lac.
I'm earning by Tuition fee of Rs. 150K.

Can I show this Tuition fee in "Income from other sources" by filling ITR 1 ?

My Client invested in KVP Amount Something 9 Lkah Rs (Kisan Vikas Patra ) Kvp Matured in 2023-24
Maturity amount is KVP 18 Lakh Rs. 9 Lakh Rs. Interest Shown in AIS

My question is Interest Received 9 Lakh rs. is for 9 Years . if i show this interest income as per AIS in ITR . Client have to Pay Huge Tax in 2024-25 Return .
So how to Show this Interest income in A.Y. 2024-25 ??

For Financial year 2023-24(Assessment year 2024-25) , I had selected old Tax regimes in my organization while Tax declaration so my form 16 calculation is also calculated as per old regime.

Can I select/change it to new Tax regime while filling ITR for Financial year 2023-24 (Assessment year 2024-25 ) as I can save more tax with new regime?

My Son was in Service in India May-2018 till Jul-2020 , then left the Employment and went to abroad for Studies .
His EPF money withdrawn in full last Nov'23 around Rs.1.18 lACS . As per 26AS TDS deducted Rs. 13144 /- ( REGIONAL OFFICE BOMMASANORA 2) . Need to claim this deducted amounted since his overall Earnings is less than basic Exemption of Rs. 2.50 / 3.00 lakhs

While filing IT , where should we show this amount .

Should it be shown Under Salary head ( Salary from Provident Fund Office ) , if we show under salary head subsequently it offers another Rs.50000 /- Standard deduction , Is it OK . or should we show it as Income from other Source .

In IT - TIS it is said as - Receipt of accumulated balance of pf from employer u/s 111

Can we take Indexed Cost of Acquisition value on Sale of Equity Shares on Long Term and claim tax exemption limit Rs.1.00 lakhs during the FY 2023-24