Sir,
Sec 44ad it returns filed person cash loan to debtor rs:10 lacs amount through on cash mode pay in f.y.19-20 .if assess this Loan pay amount transaction mistake not show in books and it returns.
Question:
Assess above transactions show procedure in books and it returns in f.y.20-21

Hi. I am writing this on behalf of my mother. My mother is a pensioner and she purchased one property in the year 2011 without my knowledge. That property was based upon power of attorney and full cash payment 11.50 lacs approx. Frankly speaking it was some fraudster who cheated her and sold some very bad property in very bad location in Delhi at very high price. Some how i came to know later and we could not sold the property for 10 years. Now recently again i came to know that the property was sold without my knowledge in F.Y 20-21.My mother sold the property in cash @ 8 lacs . and deposited the 6.86 lacs in her savings account . I have already filed the ITR on behalf of my mother this year but did not show the cash deposit. What should I do in this case. Should I file revised ITR and pay the tax by the way its a loss making transaction and I cannot show the property transaction. What source should I mention in the ITR. She has been filling the ITR since 6 to 7 years .Please help

the capitalization of development cost of land like land filling, cleaning, grading, levelling are part of land cost or part of Building cost.
Assessee wants to make building for its own business purposes. He deals in food grains.

please clarify.

i have sold my flat on 24.02.2021 . Copy of registered deed and connected papers which I received does not have mention of property valuation/ Evaluated Value as per stamp and registration authority. Normally in Registry Document first page indicates Face Value and Evaluated Value . I need Evaluated Value for my flat sold for my Income Tax Return . I need your help in this regard. How I can know about this Evaluated Value as Registry Documents a received by me does have mention about this Evaluated value.

In Income tax Return I have to mention following two Values :-
1. Full Value of consideration received/receivable Rs. -------------(This is my Sale Deed Value)
2. Value of property as per stamp valuation authority (How much is this value as per stamp valuation authority)???

We received a payment from a party from other persons bank account. Now we have a Income Tax scrutiny and party is not confirming Accounts . What should we do in these circumstances . What should we reply to Income Tax Authorities. Please advise?

Two siblings have a Joint Savings A/C. The interest earned in the account exceeds 10000. There's no FD but only savings interest (hence no TDS deducted).

The primary holder of the account isn't the owner of the funds, but the secondary holder is.

In such a case, is it possible for the secondary holder to show the savings account interest in ITR or does the primary account holder still have to show it?

I am in an assignment of filling a refund u/s 54. In such assignment, one of the sales includes, penultimate sale.
I am getting mix of opinions about the nature of head under which sub section refund will be claimed of accumulated ITC.
Can someone provide a good discussion, about whether it would be under:
Inverted Tax structure or
Deemed Export or
Excess ITC refund or
Zero- Rated supply or
No refund?

One of our client is a partner in a firm having turnover of more than 100 crores and is a debt free profitable firm.

It is a family form and other partners are insisting my client to resign and will be paid capital account standing to his credit.

in the partnership deed it is mentioned as the retiring partner is entitiled only to his share of capital only and is not entitiled to any good will.

My query is whether he can claim his share on the basis of valuation of the business and good will to be valued.

Sir may bank corrupt ho gya hoon..but ab mere pass thodi si saving hai..kya may uski SIP (mutual fund investments) kar sakta ho...or uss SIP may koi problem hogi kya? Matlab main SIP may govt kuch objection kar sakti hai kya kyuki main bank corrupt hoon.

We received a payment from a party from other persons bank account. Now we have a Income Tax scrutiny and party is not confirming Accounts . What should we do in these circumstances . What should we reply to Income Tax Authorities. Please advise?