Sir,there is an error message showing "since you have income from business/profession kindly fill the financial particulars of business in schedule BP" while trying to upload the json file for filing ITR 4. But, the assessee has filled all the applicable financial particulars and also filled value as 'zero' in non applicable fields of schedule BP. Could you please help me on this?

what is Funds in Transit and how to make
Journal entry in the books of receiver when amount not received on 31st March 2023.

while filing form 3&4 of LLP in Mca V3 it shows errors such as
* Event date should be greater than or equals to appointment date
* No form can be filed after 6 months
* Personal details mismatch while comparing with Form-3 & form 4
Please help to Find Solution for this

My client is a real estate developer & going to purchase land, in which party asks him to pay INR 20000.00 in cash and the rest of the consideration amount in DD (A total 5 parties involved in the purchase, 1 party fully paid by DD and the rest of 4 parties demanded INR 5000/- X 4), Is any restriction applicable u/s 269S, 269T or any other rule to pay this cash & record in memo page of deed?

Hi, Can CA as paid assistant in CA firm subject to TDS 192 or 194J? also whether can he take COP in his name as he is currently employed with that CA Firm as paid assistant and start his own practice?

We showed audit fees payable RS4000/ AS ON 31/3/2022 BUT MY AUDITOR BILLED RS6000/ IN September 2022 AND WE PAID RS 6000/ TO THEM. THEY ALSO CHARGED RS1500/ AS INCOME TAX RETURN FILING. HOW WILL WE SHOW DIFFERENCE OF RS2000/ IN AUDIT FEES IN OUR BOOKS OF ACCOUNTS? HOW WILL WE SHOW RS1500/ GIVEN ON ACCOUNT OF INCOME TAX RETURN FILING? PLEASE GIVE THE ENTERIES REQUIRED TO BE MADE IN BOOKS OF ACCOUNTS?

A debtor of my company did not pay me the dues so i issued a credit note to him to get GST refund. Now the question is as i have cash credit account in banks and is to provide stock sheet monthly basis to bank and the debtor did not return me the goods what entry i have to pass?

Sir,

Can We quite ITR-4 to ITR-1 because no business income. income only from Salary. in FY 2020-21 Filed ITR-1 income from Salary+Other in interest from FDR+ tuition fees In FY 2021-22 Filed ITR-4 income from Boutique + Other in interest from FDR+ tuition fees So please guide to us Can we face any problem in future from IT department.

Respected Experts,

Can we prepare P&L, BS for Filing IT U/s 44AD of Income Tax Act 1961.

Im aware that there is no provisions for expenses and Depreciation in ITR4

Still drafting a P&L & BS is necessary?

I saw many of the CA's and Tax Consultants, are just providing Computation sheet for 44AD

Whereas it is not acceptable in the Banker's end - while the client submitting documents for Loan purpose, and the Banker asking to provide BS& PL.

Kindly advise

Mr A and Mrs are husband and wife.
Mr A gifted shares to Mrs A worth Rs 50,000 in 2010-11
Expecting the shares to be sold in current financial year, Mr A and Mrs purchased a house property (joint ownership between Mr A and Mrs A) for Rs 5 Lakhs in March 2022. Mr A provided Rs 2 Lakhs From his personal funds and Rs 3 Lakhs through joint home loan.
Mrs A sold the shares in June 2022 for Rs 5 Lakhs which is also the long-term capital gain for her. The sale consideration from shares was credited in her account and the home loan was disposed off.
Income from sale of shares is to be shown in the ITR of Mr A after application of clubbing provisions of section 64(1)(iv)
Mr A and Mrs A want to opt for co-ownership in proportion to their investment and also claim 54F for both Mr A (transferor) and Mrs A (transferee) investment. i.e., Mr A wants to claim exemption under section 54 F for investment done by both Mr A and Mrs A, in purchase of joint property, (Mr A provided Rs 2 Lakhs from his personal funds and Rs 3 Lakhs through joint home loan which was disposed from sale consideration of shares), the money was credited in bank account of Mrs A and loan was disposed through check.
Query - Whether or not eligibility claim of Section 54 F will be accepted by the Income Tax department regarding joint investment / joint ownership of residential house with both Mr A (transferor) and Mrs A (transferee) eligible to claim section 54F on sale of shares.
Please support with relevant case laws, if any.