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Dear Experts
Good Morning.

In the FY 22-23, I had approximately 89 lakhs profit including intraday/short-long term gains.

In this same year I bought a flat for approximately 77 lakhs (inclusive of all regn and service charges etc.) and in addition I spent around 4 lakhs for furniture etc. - a total 81 lakhs spent.

Whether I could adjust the above 89 lakh profit gains to the flat purchase/furniture amount of 81 lakhs - to avail the tax adjustments.

Tour response will be highly appreciated and surely helpful to me.
Thanks with regards

GK

Sir,

In payslip LTA provided by employer can I claim it on IT?

Exmpl : Ram got LTA in payslip Rs. 3000/- (Per month) and he travelled kolkata to mumbai by flight Rs. 19000/-( Economy class) Can he claim the amount in IT return ? can he claim every year LTA in IT Return?

Respected Experts,

I am a Practicing Tax Consultant. I would like to know, after completion of ITR Filings of my clients ( Non Tax Audit) I'm in a Plan to issue a ' Internal Audit Report' to my clients ( In addition to the P&L and BS)

The Internal Audit Report will Highlight the Observations and Analytics I came through while Assessing the Books of Accounts and preparing the Financials and after Filing of Income Tax.( Non Tax Audit Cases )

I believe it will help the Small Traders ( Non Tax Audit) and Clients to understand where they stands, what they achieved and to know more where to improve their Business.

Kindly advise am I authorized to issue an Internal Audit Report

Can Any one give me a computation of trust for ITR 7 Filing

Dear Experts,
🙏

In FY 2022-23 the profit earned throgh the share trading is mentioned below:

Intraday = 1.06 L
Short term = 13.51 L
Long term = 75.28 L

Total Realised Profit = 89.86 L
In thecsame FY 2022-23, I have bought an apartment with the details as below:

A1. The individual land share (2.68%)
cost = 1,75,000.00
A2. 1702 sq.ft Apartment
cost = 66,25,000.00

A. Total consideration A1+A2= 68 lakhs (cheque/online paid)
B. Registrn.cost including stamp duty and other service charges = 5,19 300.00 (cash)
C. GST 5% of 68L = 3,40,000.00
D. Association Deposit = 50,000.00

E. Total = A+B+C+D = 77,09,300.00
(including 68,000 Rs. Paid as TDS)

F. Interior/ furniture cost = approx 4 lakhs

Whether I could utilise the 89 lskhs profit amount of FY 22-23 against the Apartments total purchase cost and other interior furniture cost (done in FY 22-23 only) as approximately 81 lakhs, to have a net tax burden for the net amount 89 - 81 = 8 lakhs ?
Please advise.

with best regards
kvg
🙏