my annual turnover is 12lakh and am going to file income tax return as per 44AB, need income tax audit if my profit is less than 8% of turnover or a Net loss.
kinldy help on below
tds deducted us 194j.
and earlier year .2016-17 income shown under presumptive taxation 44ada
2017-18 same income declared under 44ad in itr 3.
now 2018-19 for correct filling i am using itr 4 under premptive taxation under 44ad by declaring more than 8 % profit..
is it right practice for showing professional income under business income??.
beacuse as i know engineering consultancy services is professional services...
can i file us 44ad for lower profit @8% than 50% of professional income us 44ada
What is turnover when we file it return u/s 44AD
Turnover= Taxable Value + GST
OR
Turnover=Taxable Value
Dear all
My client have partnership firm turnover was 60,00,000
They declared profit 8% U/s 44AD i.e. 4,80,000 in Income Tax Return
Two partners were in above firm
Actually each partner took 4,50,000 as remuneration and 80,000 as Interest on capital
Doubts
should partners declared the above remuneration & Interest in their personal IT Return?
Because they offered partnership income in U/s 44AD
I have income of 5lacs from commission as Lic agent and net profit is 350750.
Am i require to prepare mandatorily balance sheet and p&l or can i put data under "no account case".
Please let me know in what case i can file under no account case.
Sir/madam,
if non resident indian earned income from foreign country, then remit to india is taxable or not,, if yes then under which head of income in his ITR?.....
NRI PURCHASE N A LAND IN INDIA BELOW MARKET PRICE . PAID STAMP DUTY ON MARKET VALUE .OF PROPERTY ACTUAL PURCHASE PRICE IS BELOW MARKET PRICE TAXABILITY THEREOF
MY CLIENT HAVING F&O TURNOVER 6182516/- AND LOSS FROM F&O 108000/-. MY CLIENT IS HAVING TUTION INCOME OF RS. 238000/- AND FD INTEREST IS 25000/- THAN HOW TO FILE HER RETURN. WHETHER SHE HAS TO GET HER ACCOUNT AUDITED. PL GIVE URGENT REPLY
MY CLIENT WAS REGISTERED FIRST IN REGULAR SCHEME IN GST.
THEN HE TRANSFERRED TO COMPOSITION SCHEME.
AFTERWORD HE TRANSFERRED TO REGULAR SCHEME AGAIN.
I HAVE NOT FILLED ANY ITC FORM.
MY ANNUAL RETURN BUTTON DOES NOT WORK
PLEASE GUIDE WHICH FORM I NEED TO FILL.
I am facing problems while uploading Income tax return ITR-3.While filing return after login on website when I click upload button,following massage is reflected on screen: Invalid XML. Please generate XML again using the latest Utility. Please help me with this.
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