For AY 2018-19 wanted to confirm a few items mentioned below-
1) Which ITR to be filed - ITR 3 right
2) As she does not maintain proper records so in BS & PL so her details fall under NO ACCOUNT CASE. On what basis she can claim expenses since in the past she was getting 50% deduction of new insurances and 15% for renewal policies.
3) Apart from that she has invested in share market. Do i need to disclose worth of shares she is holding? Also do we need to disclose dividend income, if yes where?

In the Clarifications given by Income Tax Department regarding Tax on Presumptive basis, following are mentioned
at link https://www.incometaxindia.gov.in/tutorials/13.%20tax%20on%20presumptive%20basis%20in%20case%20of%20certain%20eligible%20businesses.pdf


One

A person who is engaged in any profession as prescribed under section 44AA(1) cannot adopt
the presumptive taxation scheme of section 44AD.


As per Section 44(1)mentioned at one above, such professions are legal, medical, engineering or architectural profession or the profession of accountancy or technical consultancy or interior decoration or any other profession as is notified by the Board in the Official Gazette


Two

:The presumptive taxation scheme of section 44ADA is designed to give relief to small taxpayers
engaged in specified profession.

Three

A person resident in India engaged in following professions can take advantage of presumptive
taxation scheme of section 44ADA:-
1) Legal
2) Medical
3) Engineering or architectural
4) Accountancy
5) Technical consultancy
6) Interior decoration
7) Any other profession as notified by CBDT


NOW THESE PROFESSIONS ARE SAME AS MENTIONED IN SECTION 44(1)

SO KINDLY CLARIFY AS TO WHY iNCOME tAX dEPARTMENT has said, as mentioned in one above that

"A person who is engaged in any profession as prescribed under section 44AA(1) cannot adopt the presumptive taxation scheme of section 44AD".


HERE REFERENCE OF SECTION 44AD IS GIVEN FOR PROFESSION WHEREAS FOR PROFESSION SECTION 44ADA HAS BEEN ADDED.


PLEASE CLARIFY

A INDIVIDUAL BUILDER CONSTRCT BUILDING AND SAME SELL AFTER COMPLETION. WHETHER GST REGISTRATION REQUIRED.

I am an nri and has not filed returns for the FY 2014-15, 2015-16, 2016-17, however the tax return for the FY 2017-18 has been filed during June 2018.
1) Can i file late returns for the previous FY as stated above
2) Would there be penalty for late filing, if yes, what is the amount
3) I have TDS claim for the deduction on my NRO account though there is no other income except small interest on my NRO account approx INR.11000/- per annum.
4) During the FY 2018-19 i have rented out my 1BHK apartment in mumbai for annual rent of INR 240,000/- during July 2018
a) is the tenant required to deduct TDS , if yes what is the percentage.
b) what deduction can be claimed while filing return during next year for the FY 2018-19.

ADDITIONAL INFORMATION:
Other source of income are the dividends which are declared by the companies from time to time approx. which are tax exempted .

As i am paying premium Insurance INR.4K, Medical Insurance for my family approx. INR .17k, Home insuranace INR. 18K which can be used to claim deduction u/s 80

My overseas earning are tax free as the country where i am earning don't have income tax on employees.

Please advise on the above and guide on the Income tax details which i should be knowing.

Thanks

Plz help me I am getting following error in TRACES " Error in establishing connection with TRACES Websocket Esigner. Please ensure that WebSigner Setup is installed and service is running on your machine and there are no proxies enabled on the browser while doing DSC activities"

I have a small repair business. The revenue from repair since past 4 years have been around 4.5 lakhs and profit after expenses is 3.5 lakhs for past 4 years.
The profit after expenses for FY 17-18 is 2.5 lakhs and revenue from repair is 3.5 lakhs. Am I liable to maintain records of this for FY 17-18 under section 44AA?

Sir, I want to revise the entire FY 2017-18 quarterly turnover, the GSTR-4 have already been filed for the said quarters. I tried revising the same in GSTR-4 offline tool for Apr-Jun 2018 Qtr. The below are the problems:
1. Only any 1 of the previous qtrs cells are available
2. Error or previous data not found is being shown when I am filing the json file.

Please help.

Dear Sir/Mam
my brother has earned from april to september as a salary and then from september to march he has earned a commission based his own job (freelancing).
May i know is he eligible for 44 ada
please advice

Thanks with regards

Yogesh Nain
9899979745

X has two sources of Income

1. He is a Professional and earns Professional Income.
2. He earns brokerage Income, which is very snall.

X wants to opt Presumptive scheme but cannot file ITR 4S due to brokerage income.

Brokerage income amount as stated above,, is very small as compared to his Professional income.


QUERY

Can X file ITR 3 by showing his professional income under Presumptive Scheme in Section 44ADA and showing WHOLE AMOUNT of small brokerage ( THAT IS without claiming any expenses incurred in earning the brokerage) as INCOME FROM OTHER SOURCES.

I have short term capital gain of Rs 50000 on a SALE turnover of Rs 50 lakh
and intraday profit of Rs 110000 on a sale turnover of 10 lakh and a long term capital gain profit of Rs 40000
should i show this profit under the head capital gain
or as business income if shown as business income what books will i have to maintain