1) Do we have to pay tax on our current account income like if the income goes above tax slab just like in savings account?
2) If so, what comes under expenses when filing ITR , do these expenses need to occur every month or each transaction in a year consideres?

Sir,

We are having one residential house at Jalgaon District of Maharashtra . My brother is one of legal heir of that property. Brother expired leaving wife, son and daughter.

All the three legal heirs wish to relinquishment of their property rights , so that the other two legal heirs can sold the property. They are living at Mumbai and do not wish to add their name in property.

Normally first their name is required to add in property by submitting death certificate, then they can give Power of Attorney. But somebody told me that , they can relinquishment their rights , so that we other two legal heirs can sold the house.
if this not possible, whether son and daughter can forgive their rights so that only their mother name will be added to the property.

I wish to guide , what is the best possible procedure, which they can do from Mumbai and without visiting to Jalgaon .

Schedule HP in ITR 2 has provision to add only 2 house properties; how to add if assessee has 3 or more house properties?

Thank you.

We , giving a service to company, in addition to service they agreed to give a food allowance ( a fixed amount). may I know how can I show it in invoice along with our service. Is it wrong method to show in invoice?. Party release fund only if we give it on invoice.

If we can show it in invoice, HSN code should give or not?

Dear Sir/Madam,

Kindly confirm the Turnover Limit for GSTR 9 and GSTR 9C for F.Y. 2020-21?
As i am having doubts regarding the information gathered via my colleagues and in google also they have not provided the information properly.
Kindly clarify it and also please provide a reliable website where i can check any updates regarding GST. Thanks in Advance.

My Client Purchased a Shop from Nagar Palika For Rs. 10 lakh in Auction. And then for transfer of shop to me. Nagar palika executed a Rent cum Lease Deed for a period of 3 years. (Year 2015) my client paid monthly rent charges and renew the contract after consecutive 3 years. In Feb 2021 client Sale the asset to third third person for rs 9 lakh. Further Nagar Palika executed a Rent cum lease contract. For transfer the shop from my client to third party.
(A) So should capital gain on this transaction or not. (B) or should purchase amount consider as Security deposit or sale amount consider as SD Refudable amount. (10 lakh - 9 lakh = 1 lakh Capital Loss) Note : at the time of sale comsideration rs. 9 lakh received from third party who purchased the shop.

While filling up the ITR-6 for domestic Company for AY 20-21 (Pr. Yr. 19-20) a wrong entry was given as "yes" in the column - "Whether total turnover/ gross receipts in the previous year 2017-18 exceeds 400 crore rupees? (Yes/No) (applicable for Domestic Company )". It was a small clerical mistake, but the effect was 'heavy' Rs. 33 lakh having been paid in excess.
As a consequence, 30% tax happened to be given with the 'self Asst. Tax'. It should have been 25%. In the Pr. Yr. 2017-18 the Turnover was 41.00 Crore. Therefore, Rs. 33 Lakh + has been paid excess.
Due date for revised return has expired on 31.05.2021.
How can the assessee get refund? Please advise and suggest the way of claiming Refund.

SIR,
interest income from fixed deposit and savings bank account income amounts treatment in books capital account transferred or profit and loss account transferred below two options.
1. It assess non business person.
2. it assess business person.

Dear Sir,

I earn a rental income from Commercial House property and business income as contract income.
Can I book any expenses with regards to income earned from house property like monthly maintenance expenses or any other to reduce the Taxable income from rent.

Please help me in this matter.

Regards,
Divyesh Jain

I got Defective notice u/s 139(9) for A.Y.2020-21. I want to rectify it but Prefilled data file not downloaded for A.Y.2020-21. So pl. guide me for procedure for return file u/s 139(9)