Dear Sir/Madam,

I have received income and TDS deducted us 194C. I am putting this income under 44AD and show 10% profit. However, I have loss in F&O trading. now, if I will show F&O trading loss in the income form business profession under regular business income then does it make any problem? and have I to show loss directly under direct expenses head->other direct expenses ?
how to show balance sheet because 44AD showed only debtors and cash in hand as regulars books of accounts not maintained to file ITR-3. Now I am showing F&O loss then have to show balance sheet again the regular business income head ?

I had booked an under construction flat approx. 5 years back. I got allotment letter from the builder and made various payment (approx. 50% of the flat value) on various dates against demand notes raised by the builder. However, a dispute created by the builder when I asked for the agreement for sale. He increased the price which I refused to pay. I filed case in consumer court as builder has neither refunded the money nor signed Agreement of Sale. After 4 years of legal battle, court ordered the builder to refund the money with interest. Now, I got the money with interest.

I like to know whether interest given by builder is taxed under Income from other sources or Long Term capital gain from house property (as I had originally booked the flat for own residence)

hi,
as per my knowledge, income from LTCG is Exempted u/s 10(38)..so do i need to mention the LTCG amount in CG statement and in EI both? as i have mentioned in CG and it under EI but it is still showing the tax on LTCG in TTI...what should i do so that it will not calculate the Tax in TTI?

Long term capital gain from ELSS fund which is Free-Free-Free in nature. Where to show in ITR-2

One of my client is a NRI and she sold a property on 2.4.2024. The property was purchased in 2018. My query is what will be the index for AY 25-26. Whether it is 363 or 376. Although the portal shows it is 363, I recall a news came in Patrika where it was reported that if one makes sales of a property before 23.7.2024 , then the index will be 376 instead of 363. Can anyone explain please.
SNU

Sir, When the ROI is filed U/s.44AD, in ITR-4, whether filling up of Financial Particulars of Business is mandatroy or optional?

Hi,
i can see my AIS showing Gross amount 10,58,000/- as Purchase of Time deposit...but reported date is 31/5/25...i dont have that much of balance in my a/c during the year and now also dont have that much of balance.. how come this much of balance is showing and what is this all about??do i need to show it anywhere in my ITR of FY 24-25?

Hello All,

Recently we had deducted 10% on the professional charges of an Interior Designer.

What if the person is taking the contract work, will the TDS be 94C

My brother is working at SBI and his gross salary is ₹34.8 lakhs, which includes perquisites of ₹6.09 lakhs and Leave Travel Allowance (LTA) of ₹6.52 lakhs. His consultant advised him to file his return using ITR-2, as he has a short-term capital loss of around ₹3,000. He filed the return under the new tax regime. However, he claimed the entire LTA amount of ₹6.52 lakhs as exempt under Section 10(5). Is this claim acceptable, and will he need to provide any evidence if he receives a notice

Dear Sir/Madam,

I have query regarding where to show F & O gain/loss in ITR?
I know it is showing under business and profession. But question is department has not provided such column to mentioned the turnover then how we will mentioned the turnover. As per my knowledge we have to mentioned under sale and purchase head according to gain/loss. if we do like this then how loss will be carried out over next 8 years?

Please guide me on this. Also, let me know if client has gain/loss from commodity then same method can do as F&O method.

Thanks and regards,

Pratik N Patel