CAclubindia

Queries Replied : 26053

Hi.I am Ramesh Krishnan, Associate Memeber of ICWAI & Certified Management Accountant (CMA) by IMA(USA) Working in Bangalore

Award Winner as " Most effective Expert in Caclubindia-2011" My working style always like,

Take life always as challenge,Think positive,

Give involvement on taken task,Donot divert your concentration from the taken task,

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LEELA GOLIYA says : Whether ITR to be filed or not.
I am doing trading from last two year for which details as below:- F.Y. 2019-20 Intraday loss Rs. 1660 STCG. Rs. 2200 F&O loss Rs. 40200 Turnover Rs. 4,82,000 other charges. Rs. 18500 So please suggest me that 1. ITR filing required or not. if required than which ITR ?? 2. If we file ITR 3 and showing loss with the turn over 5 lakh as above, then it is require to maintain books of account and audited it ??

CVA Murthy says : Is STPI needed for 2 person software company
Dear Sir I have a 2 person pvt ltd, and I provide software consultancy/coding for freelancer website based abroad (outside India). Based on past CA recommendation that the export was exempt from ST, I did not file ST3 for 2015-2016. I only had revenue from USA Now I have received ST3 non filing notice. I also, just today was reading about SOFTEX and STPI (which none of my CAs ever spoke about) . I have FIRC which states reason as P0802. What can I do to fix issue? Thanks in advance Murthy

srinivasan ak says : Gift
Can I receive gift from my Mother's Mother ? If yes ? Under which clause of of relative definition under sec 56(2)(X)?

richa d says : query for itr7 of AY 2019-2020
income tax return of trust got missed in filing in some confusion. trust is 12a registered. considering extentions in filing due to covid-19,if return is filed belated, what is the remedy to claim expenses?pls guide

niraj says : PROPOSED ADJUSTMENT 143(1)(a)(ii) ON CAPITAL GAIN
sold an inherited agricultural land for 4500000 and invested 4371240 in residential property u/s 54F.we paid tax on the remaining amount but now we have received notice for proposed adjustment showing "Amount in Income tax Return 128760 and Amount as computed 4500000,Variance of proposed adjustment 4371240" we have double checked the ITR form and found no mistake. please help us resolve the same