If my business income is more than Rs.2,50,000/- during AY 2018-19 and I have to declare my income U/S.44AD. Am I liable to maintain books of accounts and fill ITR 3 ?
Am I also required to fill Balance Sheet and Profit and Loss a/c in ITR 3 ?

In some confusion with the bank i mistakenly entered wrong amount in my 80 E deduction in my form 16 and in my income tax return 80 e deduction i entered different amount which is correct. so there is a difference in my form 16(80 e) deduction amount and ITR. what should i do for this mistake?

My total income consists of retail trading business and commission from LIC. The commission from LIC for AY 2018-19 is Rs.75,000/- and from retail trading business is 3,00 lac. My I use ITR 4 and show retail trading business income u/s.44AD and show entire commission as Income from other sources ? Or I will have to use ITR 3 ?

suppose i have received a amount of 1000000 from my family in the form of sale of land and i convert that 10 lakhs into a fd in any bank. and the interest receivable on that fd is taxable or not if i submit form 15G/H.? please expalin me?

I used to file ITR 4S for my relative since previous in 4S there was no separate column to declare turnover from the profession, I used to declare consolidated turnover in a single column which was designated as turnover u/s 44AD and I used to declare 25 % profit on turnover

Now previous year, also I followed the same procedure, after which AO initially sent an email to me which stated that there is a disparency in my ITR as in 26AS TDS is deducted for professional fees but I have not declared any professional fees in ITR, after which I closely studied ITR 4 of 17-18 and realized that in the ITR form 4 17-18 there is a special column for Presumptive income under 44ADA (Profession) in which I had not filled in anything

Now I have got email notice u/s 143 1 a and I have been asked in e proceedings to submit my reply to the proposed addition of income by AO since as per 26AS 86000 were my Gross receipts from profession which I didn't mention in the column Also, it is expected that i should revise my return

my question is should I reduce receipts from Trading and add it in professional receipts which is actually more than 86000 (around 600000 lakhs) so what should I do

option 1
add 86000 as professional receipts, keep trading gross receipts unchanged at 24 lakhs

option 2

add 600000 as professional receipts, change trading gross receipts to 19 lakhs

option 3

visit officer (may involve risk as my case may be highlighted before him)

option 4
you suggest please if any other option

How can TDS recovered on advance paid towards professional charges be adjusted/ refunded, on failure of contract and on refund of advance ?

Read more at: https://www.caclubindia.com/experts/tds-on-advance-payment-to-professionals--620920.asp

My daughter has received Lump Sum from her Ex husband in FY 17-18 . Please advise
1) Which ITR to use to report this receipt
2) In which head this should be entered in ITR
3) I have been advised it is not taxable from what I have read in net.


Read more at: https://www.caclubindia.com/experts/ask_query.asp

IF I HAVE PUT AN EXHIBITION FOR THE PURPOSE OF ADVERTISEMENT, DO I NEED TO DEDUCT THE TDS ON THAT AMOUNT.

I have made certain LTCG in last FY .form sell of long held Shares all of theme were sold before 1/1/2018, this tax exempt LTCG is to be filled in EI section in ITR2

My problem is I only have value of proceedings from sell. I do not have purchase data date and value and hence do not now costs. ( i only aware that most of these were acquired over years through POs , rights bonus, etc. in paper forms (old days were demat dd not existed)

seek advice for ITR filing. Thanking in advance

Dear sir/Madam,

My son is working in a Private Ltd company for which he has been receiving monthly salary. At the same times, he works/supports occasionally for direct selling firm during his spare hours for which receives commission which was amount of average 1000/- per month. TDS was deducted also while paying the commission. Now, the form 25AS shows, the salary details and its TDS and commission and its TDS.

Now, he wants to file his ITR. Though the Salary has been the main source of income, the inclusion of commission/TDS throw a confusion for selecting the correct ITR form for this assessment year 2018-19.

Kindly help him to choose the correct ITR form for filing his ITR.

Thanking you,

regards
raman.K