I have short term carry forward.loss of 22-23 Rs. 2lakhs.
In 23-24 I have gain 400000 but tax is zero and below exemption limit. Can I skip setting off of carry forward loss and setoff in future years where there is tax
HOW TO FIND OUT THE GROSS TURNOVER FOR A FINANCIAL YEAR IN GST PORTAL\
Is rent agreement mandatorily required for rent that I pay to my father to claim HRA. I have rent receipts and I have paid via bank so is rent agreement still required? As I coul d not find which section/rule requires rent agreement mandatorily?
Dear Sir.
What amount will be taken in table 14 of Gstr1
(Taxable value+1% Tcs amount)
Or
(Taxable value+18% Item Rate) ????
AN llp OF September 2022 but nothing filed (no ITR , no bank account , no transaction)
while filing strike off form, form 8 & 11 penalty needs to be paid back from 2022 ?
Dear Sir.
Please tell me when a dealer deal business with refurbuished mobiles and pay tax only profit margin value if any...
In my case i issue a tax invoice bill of B2B or B2C of Rs. 1,00,000 and profit margin only Rs. 800 (Tax= 800×18%= 144) and hence total invoice value will be Rs. 1,00,144
So my query is please bifurcate this amount in B2B Case:-
Nil Rated Supply = ?
Exempt Supply = ?
B2B (0%) = ?
And B2C Case:-
Nil Rated Supply = ?
Exempt Supply = ?
B2C (0%) = ?
Please Sir help me. I am very confused..
Thnaks...
Dear Expert,
In this case the ownership of the house property is in the of the mother while Son is Taken house property loan and paying whole EMI by himself. So can he take the deduction of Loan interest & Principal u/s 24B & 80C respectively. Also bank issued loan certificate to him.
Scenario:
- My wife and I are co-owners of two properties with active home loans.
- The first property was purchased nearly 7 years ago, and the second property's loan was acquired in FY23-24.
- We are living in the second property.
- I am solely responsible for repaying both home loans.
- Rent from the first property is credited to my wife's account.
- Under the old tax regime, my gross income before tax exceeds 50L annually; however, my income after taxes is less than 50L.
Queries based on this scenario:
1. Which ITR form should I file—ITR1 or ITR2?
2. Can I claim the annual interest on both properties' home loans (approximately 1 lakh for the first property and 2 lakhs for the second property)?
3. Is it legally permissible to show rental income in my wife's ITR while I am responsible for loan repayments?
4. Can I claim deductions under all applicable sections: 24(b), 80EE, and 80EEA?
Experts, could you please help with all these queries.
Please feel free to ask if you have any more questions or need further clarification!
Dear Experts,
We Received the Property as a Gift from my brother through Gift Deed, We Construct the houses on this property & Now we sale 2 house and 2 remaining for sale.
So this is my business income or Capital Gain Income.
Under which head we can define my income (Under PGBP income or Capital Gain Income)
My itr 1 for AY 24/25 has been duly processed and I received intimation for refund u/s 143(1)
My qs is
Whether still I can recive notice u/s 143(2) within 3 mts from end of said financial yr??
Short term carry forward.loss