Assessee a senior citizen having business loss of Rs.1,78,287/- which is getting set off against Income from Other sources of Rs.1,99,452/-
From income from other sources interest on f d is Rs.91,855/- which qualifies for deduction u/s 80TTB

My question is deduction u/s 80TTB will be available for Rs.50,000/- or Rs.21,165/- (199452-178287)
Income tax online utility computes deduction at Rs.50,000/-

Dear Sirs,
One of my relative have received a gift from her father which was purchased during the year 1965-66. My query is for accounts
purpose we have to consider S.R.Value as on date of gift or the value of purchase deed of 1965-66, or INDEX VALUE as per Income tax act. Please give your valuable advise.
Thanks in advance.
K.B.Nagesha rao

Dear Sir, We Registered a LLP firm and get GST Registration before 2 month, but there is no transaction made till date due to another registrations work is under process. Now i want to know, should we file GST return or not?? Thank you in advance.

Sir/ Madam,

Please let me know, the GST impact on export/ import of software services or transactions.

Kindly guide me

While working L T C GAIN, in sale of land, jantri is not declared. What is Best alternate for considering cost as on 1.4.2001 ???? Pl suggest 🙏

Dear Sir,

My personal balance sheet is showing cash in hand of around Rs. 4 lacs and I want to reduce the amount. I do business under my name as a proprietor.

I want to reduce the cash balance by showing personal drawings in cash. Is there any limit in showing Personal drawings amount. My return is filed U/s. 44AD.

Please help me in this matter.

Regards,
Divyesh Jain

What are the laws regarding Share application Money pending allotment. In which situation, we may classify it as part of Net Worth or whether it will be current/Term Liability?

Sir, One of our client has purchased land in the year 1976 and sold the same in the year 2013-14. The Cost of Purchase was Rs 5000/- per bigha. In the year 2010-11 the land came into the municipal limit of Nagar palika and due to rapid industrialization the DLC rate of Land came to Rs 7000000/- in the year 2011. Now in the year 2013-14 the assessee sold the land @ Rs 9500000/- per bigha. My Query is can we take the difference in cost of purchase and DLC rate as on 2011 Rs 7000000-5000 = Rs 6905000 as cost of improvement. or any other way we can increase the cost. since our case is unde scrutiny for the A/y 2014-15 and we have not filed the Income Tax return for that year

A training institution in India provides IT Training to students outside India online.
It is not an OIDAR as live tutor is providing the training
What will be the place of provision of service?
Can normal provision be applied as place of recipient i.e students is known to the institute

Is there any case law/AAR/notification justifying the similar situation as the above service would be treated as export if POPS is outside India and other conditions of export are satisfied

If a company is engaged in construction activity. Every month he is raising invoice to client and submitted it for client certification. certified amount may vary subject to certification. In this case-

How will treat this revenue in books of accounts. Un certified revenue also consider for company's revenue?

Tax invoice at which stage to be raised? After certification or at the time of submission of bills to client.?

Please help to resolve this query