Sir Last year FY 2019-20 the rental income of Rs. 72000/- annual received on shop (commercial) property and the above amount shown in Income Tax Return FY 2019-20 This year i.e FY 2020-21 no rental income received due to vacant shop. Please advise how many amount of rental income in Income tax Return of FY 2020-21
Thanks
Dharam Pal
9810600330

We have paid the amount of Rs.3,6854543.00 to Noida Authority on account of one time lease rent for commercial land, we also paid the amount of Rs.3316910 as CGST & Rs.3316910 as SGST.
Weather we are eligible to avail ITC of GST paid on payment of lease rent ?

Dear sir,
Kindly advise,
if captial good imported under EPCG scheme, we need to pay IGST/Cess.
if it is exempted, kindly provide notification details

Respected Sir,

What is DIT Certificate ?

I had applied for new company registration as network marketing company and I have received below query from MCA: "Business of 'network marketing' 'channel marketing', 'multi link gift schemes', 'multilevel marketing', 'multi linking promotional activities', 'direct sales associates', 'pyramid structure schemes' and other similar activities cannot be done. Hence, remove such words and objects from MOA."

Can any one please confirm if this is valid query and give any section/rule reference which prohibits doing this business.

Thanks in advance

Dear Sir > Maturity value received from single premium ULIP policies are taxable as the premium paid in a year will be definitely more than 20% of sum assured upto 31.3.2012 and more than 10% after 31.3.2012. So almost all such single premium policies do not fall under section 10 (10D). In this situation which is the most advantageous way to deal with it and pay minimum tax.

Dear Sir,

One of my client is into a Boutique business and has been filing ITR-3 and submitting his Balance sheet till the last return filed 31.03.2020.

His Gross turnover is around Rs. 8 lacs from the business. The income is earned in cash and he deposits the cash into Bank. Some amount is received through NEFT.

Can he file return under Section 44AD or 44ADA and file ITR-4 under presumptive Taxation scheme instead of preparing accounts and filing ITR-3.

Please help me in this matter.

Regards,
Divyesh Jain

I am having long term capital loss in fy 20-21 can I show consolidated figure instead of scripwise detail in 112a schedule as fmv does not affect loss figure?

NSC interest is allowed as deduction U/S.80C . Whether it is also allowed as deduction U/S.80TTB ?

Sir,
assessee it returns every year.department sec 148 notice issued in f.y.14-15. assessee notice reply filed.if department sec 143(2) notice issued.
Question:
1.sec 143(2) meaning in it act.