I have came to know that futures and options transactions are shown under the head PGBP..
As their is lot of uncertainty in earning profit and loss, I would like to ask---
1) whether i am eligible to pay advance tax on profit earned on F&O?
2) Is section 234C is levied if I donot pay advance tax on time?
3) we know that in case of capital gain we have benefit of not paying advance tax within due date. whether such benefit is available in case of F&O (PGBP) also?

Please answer with relevant provisions and judgements
Thank You in advance

Hello,
My periodicity for PTRC is yearly, and i want to ask that, while making payment for April month, or any month should i have to select entire year which is default? as there is no other option in period selection.

IN CASE OF STCG FROM THE STOCK MARKET IS ONLY SOURCE OF INCOME, CAN WE CHOOSE EITHER OF BUSINESS OR PROFESSION AND CAPITAL GAIN TAX ! FURTHER CAN WE INTERCHANGE THE HEAD OF INCOME IN THE COMING YEARS DEPENDING UPON OUR SUITABILITY SAY FOR TAX PLANNING PURPOSE TO SAVE TAX!

We made sales to a party in 2011-2012 of which one sale of Rs5 lakhs was entered into partys AC by mistake. Now the mistake have been found. The sale of 5 lakhs was made to other parties during that period. How can we rectify now this mistake? Pl advise? Will there be any issues from Income Tax?

(A) Software is purchased as a
(1) perpetual licence, which does not require renewal; for example, Windows 10, Microsoft Office (not Microsoft Office renewable licence)
(2) initial purchase of licence for defined period and then its renewals (say, one / two / three years); for example, Antivirus
Whether TDS is deductible in above cases?

(B) In GST invoice, some software sellers classify software as goods by using HSN code(s) and some others classify it as services by using SAC code(s). Whether such classification under GST can be linked to TDS deduction requirement stating that if software is classified as goods, TDS is not deductible and if it classified as services, TDS is deductible.

Request all of you to give a detailed reply.

sir, i have a doubt, one of my client's father received lump sum amount after retirement , can that proceeds be used for repaying son's home loan?

My Client does Trading in Future & Options and the Turnover as per Income Tax Act is below 5 Crore and has Loss of around 1.25 Lacs & also after considering other Income the Total Income does not cross the Maximum amount chargeable to Tax.


So whether Audit is required under Sec 44AB or I can file ITR 3 with normal books of accounts Case

We have made credit sales of Rs196500/ during FY 2015-2016.Now the party wants to give the full payment in cash. Can we accept cash now from the party? Pl advise.

I HAVE TO DOWNLOAD AN INVOICE OF APRIL 2021...HOW TO DOWNLOAD IT FROM E INVOICE PORTAL?

This provision is applicable for all contractors or there is limitation of turnover also.
contractor means - transporter, freight forwarders, clearing agents