Dear Sir/Mam
let assume as case where I have 18 lac turnover in my regular business shown Income of Rs. 4.22 lacs under sec 44AD and also has Non speculative income under F& O turnover 18 lacs has loss of Rs. 19K Plus Speculative business Income of Rs. 5K now my question is
1)
Can I show my regular business income of Rs. 4.22 lacs and non speculative loss of Rs. 19K under 44AD and speculative income under normal Business Income.
2) If yes whether I have to bifurcate income of normal and non speculative business under 44AD
3) If yes to 2 point than Can i show Non speculative income below 8 % as while combined Income under 44AD not goes below to 8 Percent as per Act.
Kindly reply.

Dear experts,
Is there any probability of extension of due date for return filing Deadline ( 31 July ) ?
Looking on portal very few returns are filed this time.
Filing of returns were made available ( except 1 & 3 ) from May end.
Thanks in advance.

Hi team,

Section 194 R is applicable from 1st July.

My Question given in below points.

My company is giving Gold coins & other items as Business promotion certain people
If I don't have the details of the ultimate person who is getting the item, how i can comply with 194R, even if I am okay to bear the TDS cost of these items provided.

Hello sir,
Our Business turnover is up to 1.20 crore and cash receipt & payment is less than 5%
Does Income Tax Audit 44AB applicable to us.

SIR,
one of the it returns non fileing person buying and selling for gold jewellery ,coins bars,biscuits some transactions in f.y. 21-22.
Question:
1.Assessee it returns filed compulsory
2.Buying and selling transactions capital gains tax applicable.

While calculating the threshold limit of borrowings by a company, the temporary loans are excluded. My query is whether Trade credit, Stand by letter of credit, Overdraft and bank guarantees forms part of the term Temporary loans?

Working as a Consultant for Foreign Company and Salary credited to my account.

Do i need to pay tax?

1) For entering details in Sch AL - under sub heading Gold Jewellery - how do you sub-divide between your wife and your self. My wife files tax separately. She has inherited jewellery from her mother and mother-in-law , I have bought some Gold Jewellery for her over the years and she has received some as wedding gift. I have bought jewellery as gift for others - like my daughter and relatives on wedding occasions in the past year. What do I show in my tax filing under this sub-heading heading under Sch AL?

2) In Sch AL : Bank Balances and Cash at Hand - are these to be shown as of 31-March balances ?

We are a SaaS company and we provide software services to countries around the world. We don't export any physical goods. We only export wire-transferred software which doesn't move physically.

So do we need to go through the process outlined below for every remittance we receive from our customers:

https://www.indiafilings.com/learn/e-bank-realization-certificate/

While uploading the ITR online after validation with no error, I'm getting an error message stating "schema error occurred while submitting your form, try later". This has been happening for the last 2 days and I'm using the latest version of Desktop Utility. Can someone please help to sort out the issue?