This Query has 4 replies
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?
This Query has 1 replies
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
This Query has 1 replies
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
This Query has 1 replies
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
This Query has 1 replies
can a person add Rs 300.00 charge of zerodha account as expenditure in itr 2?
This Query has 1 replies
Suitable ITR Form for Indian Resident Salaried as well Share Trader, like Intraday, Positionlal and F&O
Thanx.
This Query has 3 replies
IF I HAVE PUT AN EXHIBITION FOR THE PURPOSE OF ADVERTISEMENT, DO I NEED TO DEDUCT THE TDS ON THAT AMOUNT.
This Query has 1 replies
TDS is wrongly deposited in 196c instead of 194c. How to proceed?
This Query has 1 replies
hi...
What is meaning of Certain categories of income tax New Notification extend of due date AY2018-19 of income tax filling
This Query has 1 replies
Does dividend Reinvestment in Debt Mutual Funds Attracts Short Term Capital Gain or dividend income
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)
Payment of tax in fd interest