while considering profit for goodwill calcuation . profit sholud consdier after depreciation , remuneartion and interest to partner or before interest and remunearation and depreciation

PROFIT 100,000
DEPRE 2000
INTEREST 3000
REMUNERATION 5000

NET PROFIT : 90,000

Which profit is to be considered 1,00,000 or 90,000

Sir,

Please share Suresh Add on software in excel to convert Numbers to Words in excel with Indian
Rupee Symbol. Advance Thanks

I have filed updated return for A.Y. 2021-22 on 18th oct 2023. My return status is invalid now. I got following reply from department -
"On the basis of the particulars furnished in the above mentioned updated return, it is seen that the said updated return results in refund in schedule Part B-ATI of the ITR form. Hence, in accordance with clause (c) of first proviso to sub-section (8A) of section 139, the said updated return filed by you is invalid ab-initio and deemed never filed."

Whereas there was no refund in return filed. What are the other cases where I can get this reply from the department?

Thanks in advance.

Respected Sir,

I am Salary person and dealing with Share market invested some amount Rs.500000/- in Share market through Mutual fund and Some delivery basic stock. I have never done Future & Options and never intraday transaction. But due do some issue i have done one Single Transaction in Intraday Which is i got loss Rs.63/- I have purchase Share RS.963/- and Sale Rs.900/- All other Share market Transaction belong to delivery and Mutual fund. We dont have any type of business income.
Below are my detail
Intraday Loss Rs.63/-
Capital gain Short Term Rs.11400/-
Long Term Rs.201/-

So can i go for ITR-2 i don't have much knowledge of ITR-3 Please suggest
In Future Can be any issue from IT department if i go for ITR-2

Please suggest

I am an individual (Buyer) buying a flat from a Company (Seller). When I try to fill up the form 26QB, i see the portal is auto selecting the major head as "Corporation Tax (0020)".

Builder document says it should be "0021". Is there a bug on the income tax portal or the selection is OK?

Please guide if I have to file Form 71 where income is recorded as per accrual basis in FY 2021-22
and TDS deducted appears in 26AS of FY 2022-23 till when can Form 71 be filed.
Thanks in advance.

I have change my gender because I filled wrong gender

If we are calculating profit prior and post incorporation.
Where will we consider audit expenses ?
Can we consider it a post incorporation expense ?

Hi Team,

TVS Holdings redeemed NCRPS on 22-MAR-2024.
Refer news: https://www.thehindu.com/business/tvs-holdings-plans-to-redeem-ncrps-on-march-25/article67899429.ece

On 16-JUN-2023 , 232 NCRPS were credited on my trading account.
On 22-MAR-2024, I received Total Amount : RS 2528.8

Breakdown of the amount:
Redemption Amount: RS 2320
Coupon Payment: RS 208.8

Could you please confirm how above amounts would be taxed?

As the NCRPS are redeemed within a year (i.e. matured and NOT SOLD) , is Redemption Amount : RS 2320 STCG and taxable as per Income Tax Slab rate?
Also is Coupon Payment taxation same as Dividend/Interest? i.e. is Coupon Payment of RS 208.8 STCG and taxable as per Income Tax Slab rate?

Dear Experts,

We are manufacturer & proprietor concern & want to take Pure Labour Service from an unregistered person.

Should we pay GST on this service? or we are exempt to pay GST.

Kindly advice.