A individual is showing his income u/s 44ADA but his nature of business is to paints the houses on daily basis or sometimes on contract .But Due to showing nature of business as interior decorator in his MSME certificate because of this his business is shown u/s 44ADA but now can we change his income to u/s 44AD under other services code.

I had completed 1 year of articleship with a CA and then took transfer from there with a extension of 90 days.Now i am about to complete my total articleship period of 3 years.In the last two years i have taken 10 holidays in total with a different CA.Do i now still require to serve for the extension period? And if yes with which CA?

Sir,
For Charitable Trust, we want to know what is due date of filling audit report Form 10B. Whether uploading date is considered audit report submitted date or not. Whether there is any circular or notification is available, please give detail.


Thanks

MY CLIENT PURCHASED A FLAT IN FY 2020-21 BUT THE POSSESION WAS TAKEN IN AUGUST 2021. BUT NO REGISTRY HAS BEEN MADE TILL DATE. CAN I TAKE ONE FIFTH OF PRE EMI INTEREST IN FY 2021-22 AS THE POSSESION HAS BEEN TAKEN AND REST 100% OF INTEREST PAID HLOAN AFTER DATE OF POSSESION.


PL GUIDE

Sir,
My taxable income is 8 lac but I received 55 lac as nominee after death of my relative from bank, which I believe should be declared under Exempt Income as inheritance.
Under this circumstance, should I fill ITR 1 or ITR 2.

Appreciate your response.

Regard

Conversion of ECB, including those which are matured but unpaid, into equity is permitted subject to fulfilling certain conditions.

However I wanted to understand whether the same would be permissible under the companies act 2013 ? Companies act basically does not permit conversion of loan into equity unless there is a resolution is passed which has a provision to convert loan into equity.

Pls guide
Hemant

If FY21-22 income is more than 50 lakh but it includes arrear amount also. Without arrear, income is below 50 lakh. Arrear amount is being shown in 10E for 89(1) benefits. Is it mandatory to fill AL schedule in ITR-2. All income is salary&Pension and bank interest income, no any other type of income. If AL to be filled, is it necessary to fill assets which are already recorded in AIS-TIS. ITR-1 is not taking because with arrear income is more than 50 lakh, so ITR-2 to be filled. My question is, this includes arrear amount. What to do?

Subject: Income Tax treatment on commercial property vacated whole of the year and paid interest to bank on loan taken for purchasing the property.
Dear Respected Sir
What is the income tax treatment on commercial property vacated whole of the year and paid interest of Rs.10 lacs to bank on the loan taken for purchasing the property in the Financial Year 2021-22.
Will it make any difference if we rent out the property for 15 days i.e. part of the year?
Please provide your expert opinion on the same and oblige.
Regards,
K M Goyal

SIR, I AM A SMALL TRADER WITH TURNOVER 1.5 CRORE P/A , I PAY RENT OF MY SHOP 8000 PER MONTH, WILL I PAY TAX ON 8000 UNDER RCM ? . I AM CONFUSED BECOUSE THERE ARE MANY ARTICLES ON NET SOME ONE SAYS THAT RENT IS EXEMPT UPTO 10000 PER MONTH BUT I CAN NOT FIND ANY GOVT CIRCULAR , IF EXEMP PLZ PROVIDE NOTIFICATION OR CIRCULAR, IF NOT EXEMP PLEASE GUID ME.

Hello Experts,

My senior citizen mother has received a tax demand of Rs. 1200 u/s 143(1) for FY 2019-20.

Reason - she claimed total 10k deduction under 80D, of which 5k under Preventive Health check-up and 5k under Medical Expenditure, since she has no health insurance. However in their demand, IT dept. have not considered 5K Preventive Health check-up.

However as per 80D rules for FY 2019-20, I feel my Mother was eligible to claim as above. So can anyone advise why IT have disallowed the above 5K? Or if demand is auto-generated due to some technical error, then what should we do to resolve it?