Hello Members,

Assessee is a student and is currently studying in abroad. Every month is father deposits cash in his account. From which he than transfers the same in the respective foreign currency to his account for his regular exepenses. Since the amount transferred exceeds 7 lakhs TCS is deducted on the transfers done by him.
In all Total of Rs 14,85,000 was deposited into his account by his father and the same is appearing in his AI reports also.

Since there is TCS which is deducted on the transfer, he wishes to start filing the ITR to claim a refund of the same.

Query:

1. How do we treat this cash receipt in the account of assesse who is still styuding.

2. Will taking a Gift Deed on the appropriate stamp paper help him incase of any questions come at stage later to showcase that it was a gift given by his father.

3. What are the other recourse available in such situation.

Thanks

Dear Sir,
Section 194H ki income ko kis itr mein kahan show karna hai

Asset has been compulsorily acquired by the government for road extension and it is stated in the agreement that fully exempt from income tax. If the above-mentioned subject is related to RFCTLARR ACT, then how to file the exempted income in ITR ( under capital gain or under exempted income category)

DEAR SIR

TDS DEDUCTED U/S 194R DECLARED INCOME FROM OTHER SOURCES OR BUSINESS INCOME. ONE OF MY CLIENT RECEIVED NEARLY RS. 1,030,90/- AND THE COMPANY DEDUCTED @ 10% TDS SHOULD I REPORT BUSINESS RECEIPT OR INCOME FROM OTHER SOURCES


REGARDS

what is nature of expenses allowable under income tax , if paid on or before filing of income tax return

under income tax any tax paid Like TDS, Advance Tax , Self Assessment Tax and Income tax demand are disallowable under income tax under which sectio.

In the following two cases , whether depreciation allowable under income tax
(1) TDS Not deducted on capital expenditure
(2) Cash paid Rs. 10,000/- for buying capital expenditure.

As per the Government of India's guidelines, could you please provide the recommended size and color for displaying the company name board?

In Partnership firm I have prepared two account for partners.
One is partners capital and another one is Loan account.
Partners is kept as fixed capital introduced by partners, Loan account is used for transaction done by partner like payments receipts.

Likewise can I creat two account for Partners in Private limited company ?
1. Capital account
2. Current / Loan Account

Please Guide

MR.A (having non-speculative income) had made transaction with respect to call and put in future and option mentioned below:

1. buy:10000 sell: 12000 GP:2000
2. buy:10000 sell:7000 Gp:(3000)

as we know we need to take turnover of Rs. 5000 and need to file return in 44ad maintaining 6% of profit

but actual MR.A had lose money of Rs. (1000) but in 44ad we can not show profit less than 6% of turnover which is Rs.300 (against nature of reality)

please provide guidance and what if Mr. A don't wants to file return in 44AD then can we show 6% of turnover in direct p&l account ?