I am a LIC agent and have received a commission of Rs. 86000/- during FY 2018-19. In addition, I have salary income also. If I show entire LIC commission as income, then also is it mandatory to fill Profit and loss a/c and Balance Sheet in ITR ?

I had sold ancestral land (purchased by my father long before 1980) during FY 2018-19.. I have to pay LTCG tax on the same. I have tried my best to know the govt. value of the land for calculating indexed cost of acquisition, but could not find the value. What is other alternative for the same ?

Respected Expert,

I’m a resident (i.e. resident and ordinarily resident). I got a temporary job (i.e. for 1 month period) as a FREELANCE Trainer to train ITI students to teach the work culture and soft skills. My client (i.e. employer) has deducted TDS from the payment (i.e. consolidated professional charges) under SECTION 194J. Which ITR form I have to file to get the refund of the TDS? ITR-3 or ITR-4?
I enquired so, because a Freelance TRAINER can’t adopt Presumptive Taxation Scheme of SECTION 44ADA as he/she won’t fall under either Legal profession or Medical profession or Engineering profession or Architectural profession or profession of Accountancy or profession of Technical consultancy or profession of Interior decoration or profession of Advertising or such other profession as is notified by the CBDT for the purposes of section 44AA (i.e. profession of Authorised Representative, profession of Film artist, profession of Company secretary, and profession of Information technology).
A freelance trainer also can’t adopt Presumptive Taxation Scheme of SECTION 44AD as he/she is not running a business. Because section 44AD is for BUSINESS and not for NON-SPECIFIED PROFESSION. Hence does a person who is engaged in a profession other than ‘those professions as prescribed under SECTION 44AA(1)’ will have to file ITR-3 form?

Please guide me and clear my doubt.

I ALONG WITH MY WIFE PURCHASED A PROPERTY WITH SALE CONSIDERATION OF RS 8000000.00 ON 03-07-2019 REGISTERED AT DELHI. NOW I AM FACING A PROBLEM IN FILLING FORM 26QB, FOR SUBMISSION OF TDS ON PROPERTY, AS 2 FORMS ARE TO BE SUBMITTED, ONE EACH FROM BUYER, I COUD NOT PROCEED WHILE FILLING 4TH LAST PART OF THE FORM 'PAYMENT INFORMATION'. SINCE MY TDS SHARE IS RS 40000 ONLY THE PAGE IS NOT MOVING FORWARD SHOWING ERROR MESSAGE AS IT MAY HAVE BEEN DESIGNED TO SUBMIT TDS OF MINIMUM RS 50000.
IT IS REQUESTED TO KINDLY GUIDE ME IN THIS REGARD AS DUE TIME IS NOT SO FAR

I have not shown ppf interest in earlier it returns
My ppf is matured in financial year 2019-20
Yet to file 2018-2019 return

I have filed return of my mom last year
In the return i have shown building of rupees 700000
But depericiation not charged
But i have shown it in the block
But in real this building is not for business purpose
And we do not use this for business
In the py 2018-19
Sold date i e on 13-1-19
We sold the property for 1060000
Now how i should treat this

As a capital gain or as a pgbp (block)

If i take as a capital gain
Than no tax
Because of indexation

But if i treat this as a pgbp
There will be tax bcs my block become nil
How i should treat this.
I have no investment till now


Question

1 if i show as a cap gain
Whether chances of notice are there or not
2 whether to treat this as a cap gain or block pgbp
3 which itr i should file if my mother has 50000
Also business income
4. If notice come what was the interest implecation

Respected Expert,

A freelance trainer has to file the ITR-4 either under section 44AD (i.e. computation of presumptive income from business) or under section 44ADA (i.e. computation of presumptive income from profession)?

Respected Expert,

A freelance trainer has to file the ITR-4 either under section 44AD (i.e. computation of presumptive income from business) or under section 44ADA (i.e. computation of presumptive income from profession)?

Respected Expert,

My deductor has deducted TDS u/s 194J from ‘the consolidated professional charges’ paid to me. Which ITR I have to file? Either ITR-3 or ITR-4? Can I file ITR-1?

The person is ST( Boro Kachari) as defined in clause (25) of article 366 of the Constitution
and
Residing BTC-Assam - Specified in Part I or Part II of the Table appended to paragraph 20 of the Sixth Schedule to the Constitution.
If the income are earned from
1. Bank Fixed Deposit.
2. Share trading.
Please clarify whether the Income are exempted as per The provision of the Section 10(26) of Income tax Act 1995.