Sir,

I have little confusion for preparation of pnl ad b.sheet.

1) in pnl we have to mentioned in total Sell Value and total purchase Value ? Or we have yo shown directly profit or loss??
In some video opinion are different!!

2) Absolute Value of Realized profit only calculation for applicability of Tax Audit?? It is not effected in pnl right??

3) in b.sheet can we mentioned only bank balance, investment balance of only Value based on holding statements in demat account?? And capital assets ,if any?

Please guide me urgently
Thank

Sir whom (seller or purchaser) can claim tds deducted u/s 194IA in case of residental urban property???????
regards
vikas

Hi All,

I have an issue where the I have to file ITR of the person who has died on 11th September 2025. Now my question is that since the person was alive for the Financial year 2024-25, so should the itr be filed as original person or should the same be filed as by the legal representative.

Regards,
Manik

Dear Experts,
Custom duty, social welfare surcharge, and stamp duty, paid at custom clearance of goods for furtherance supply.... be allowed as deduction in income tax.... can we book all three heads in debit side of profit & loss Account.

Pls suggest.....

PERSON BORN IN INDIA SETTLED IN CANADA WITH CANADIAN CITIZENSHIP +OCI CERTIFICATE CAN INVEST IN IMMOVABLE PROPERTY IN INDIA? AMOUNT IS PAID BY HIS FATHER AS A GIFT.

A partnership firm having a turnover of 40 lacs. but their net profit is less than 7 % of turnover after deducting remuneration & interest on capital to partners, 97 % turnover is in cash.
My query is whether it is subject to audit u/s 44AD for A.Y. 2025-26?

I am filing request for registration as Representative Assessee for deceased person. I have submitted required documents and I received OTP on mobile immediately but not on email id, there was 12 hours delay when email was received after mobile otp received.
now, I am again trying, but still I am facing same problem again and again, what to do? I have tried all the contact numbers of Income tax, but could not be connected.
please, do the needful.

Is there an online facility available for correcting TDS short deduction defaults caused by an inoperative PAN?

sir I entered in intra day trading by mistake and sold instantly and earned a profit of Rs 201 but after STT the nett amount is loss of 250 , Will I have to pay interest on advance taxes as I am a senior citizen ?

On conversion of LLP into a company, whether new PAN is supposed to be obtained or can the company use the PAN of the LLP (being a successor).

Also how is the Return supposed to be filed in this case. Whether LLP is supposed to file return upto date of conversion and post that company will file separate return ? In this case, given the e-filing process- the portal would not allow filing two returns for same AY.