I have received Medical Reimbursement of 18000/- , Leave Travel Allowance of 25000/-, Leave Encashment of Rs 15000/-.

You are requested to inform me , whether the above mentioned income is taxable for the FY 2019-2020.

I HAVE APPLIED FOR REFUND OF EXCESS CASH BALANCE BUT THE DEPARTMENT HAS ISSUED THE DEFICIENCY MEMO THAT THE UNDERTAKING UNDER CIRCULAR NO 125/44/2019-GST HAS TO BE ATTACHED IN THE SUPPORTING DOCUMENTS..... CAN ANYONE GIVE THE FORMAT OF THE UNDERTAKING WHICH HAS TO BE GIVEN... PLZZ GIVE SOON AS SOON AS POOSIBLE

One I.t. assess source income of below taxable limit for the f.y.2018-2019.A person previous savings cash amount Rs.5,00,000/-(five lacs) cash deposit in bank sb account for the f.y.2018-2019.
My question:
If a person I.t. return for f.y.2018-2019 before March ,2020 filed compulsory or no.

As per section 37 GST late fee is allowable as an expense under IT Act but this amount has been mentioned in tax audit report under clause 21(a) in expenditure by way of penalty or fine for violation of any law for the time being in force.Now what to do in that case.

DEAR SIR,


ACCOUNTING CHARITABLE TRUST BORE WELL REPAIRS COST IS CAPITALIZED AS PART AND PARTIAL OF THE BUILDING OR TRANSFERRED TO INCOME AND EXPENDITURE ACCOUNT, BECAUSE ENTIRE YEAR MORE THAN RS 25000/- INCURRED COST OF EXPENDITURE OF THE BORE WELL REPAIR.

PLEASE CLARIFY ME

REGARDS

I filed my income tax return in dec-2019, I have got a mail from the department for Disallowances/Defects identified in the Income Tax Return. as below.

Your Income Tax return ITR-3 uploaded for AYHPG1419J and AY 2019-20 has the following defect(s)

S.No. Defect Impact Suggested Resolution
1 Income from "Profits and Gains from Business or Profession" is greater than 2.5 lakhs but particulars as in "Balance sheet/Profit and Loss Account" are not filled Income Tax Return may be treated as defective if particulars in "Balance sheet/Profit & Loss Account" are not filled Please fill Balance sheet/Profit & Loss Account


Please ensure that the above suggested resolution(s) are followed for a defect free and faster processing of your income tax return.


Now suggest me, how to respond against this query, because of notice not received u/s 139(9),
Can I file a revised return or give it to response.

A individual person how many previous years income tax return filing at the end of the finicial year March,2020 for the purposes of bank loan.

Dear All,

I have some doubts about TDS on Cashwithdrawal from Bank.Following are my doubt please help me.



1) Can I withdraw morethan 3 crore cash from 3 different bank?

2) What is the applicability of TDS 194N in the above example?

Sir
I would like to take advise on the taxability of Bonus shares.
I had purchased shares of Reliance petroleum ltd @1744/ but it has been converted in Reliance Industries and issued 224 shares. In 2009. It has given 224 shares as bonus in 2010. What will be purchase price.? I have sold 448 shares in 2020. How the capital gain be calculated.
Pl advise.
Regards

sir,
I have constructed a house in 2017-18 by taking bank loan.In ay 20-21 I sold another property with capital gain of 20Lac.If I repay loan taken to construct my house, can I get exemption from capital gain instead of investing in second home. Please clarify