Dear sir
I am filing presumptive income u/s 44ADA. No accounts case.
I am not supposed to maintain books.
But unable to upload and following message continues to show
"Income under business and profession is claimed but gross receipts are not mentioned in profit and loss account. OR Profit shown is less than 50% of gross receipts but details of maintenance of the books of accounts and audit report u/s 44AB in Part A-General are not filled up."
I have shown gross receipts in presumptive income section 61 onwards and shown income more than 50%.
Any one has any idea. Thanks

Hello Experts!

Very Senior Citizen has interest income of Rs.30,000 from his Savings Bank Account. ( no fixed deposit ) .
Filing return in Old Regime. Can he claim Deduction under Section 80 TTB.

Thanks in advance.

DEAR SIR,

SFT INFORMATION REPORTED IN THE INCOME TAX PORTAL SHOULD WE CONSIDER THE INFORMATION REPORTED TO INCOME TAX DEPARTMENT WHILE FILING INCOME TAX RETURN AND THE INFORMATION REPORTED IF WE IGNORE WHAT WILL BE THE CONSEQUENCES

THANK YOU

REGARDS

My wife is a salaried individual. She started investment in Mutual Fund. In FY 2022-23, she invested through SIP, of Rs. 1000/- month, she invested only Rs. 10,000/- in Mutual Fund in FY 2022-23. She don't sold these mutual fund unit. She is still holding above mutual fund Units in her Mutual Fund A/c. How to show above investment in Mutual Funds in ITR-1. She is filing ITR-1. Now which ITR she has to filed? Or We may continue with ITR-1? Please give your expert advice.
With Regards
Prem Moolwani

I want to know that a person is employed in merchant navy and earned income in dollar ($) for this person which ITR form to be filed. In ITR under which head his income is to be disclosed.
whether his income is taxable or exempt if except then please give section under which his income is exmpt

Can an assessee opt 44AD and declare a profit higher than 8%.
Also what is tax audit applicability for FNO transaction.

I've read the existing query which mentions this " If 15 years duration bonds with 7.64 coupon rate, they are tax exempt."
But please elaborate about other tax free NABARD bonds

I was sent on deputation by my company to Australia in November, 2022. I spent more than 182 days in India, so I became a tax resident there and as per Australia Financial Year (July-June) cycle, I am tax resident here also. My company paid all my salary from November onwards in Australia bank account though it had two components - India Salary and Australia Salary. Income tax was deducted at source for total salary in Australia and for Indian salary in India too. So I paid double tax on the same income. Now my form 16, AIS and 26AS all contain details including my Indian salary component (which was paid in Aus $) like my total income in India and tax deducted on the same. How can I get my tax refund, How to file my return so as to get this refund?

Sir,
I have 2 quires
1. A Taxpayer Sold a land in FY 2022-23. He Purchased a Flat with year after sold property (Land) more than sold land value. Any exemption in capital gain this condition and which section 54 or 54F or any other section.
2. A Taxpayer Add one additional floor in his existing residential house during Aug-Sep 2022. He sold another land in Mar 2023. Any exemption in capital gain in this condition. If Yes in which section 54 or section 54F or any other section.

Hello! Experts,

Is the long term capital gain exemption upto Rs. 1 Lakh available under new tax regime for A.Y. 2023-24