I have a very simple question with regard to showing carry forward loss in ITR2. Below is the scenario.
1 - FY2015-16, I am having short term capital loss of 3,00,000 Rs. In this year, I do not have any short term capital gain hence, I had to carry forward it by ITR2. And I have no question here.
2 - FY2016-17, I am having short term capital gain of 1,00,000 Rs. I can set off this against...
Dear Sirs / Madam
I am planning to file my returns using Section 44ADA (presumptive basis) as I am data processing freelancer and do Customer oriented /IT related jobs for an overseas client.
However, in an effort to streamline my Mutual Fund portfolio like converting to Direct plans, switch from non performing to performing funds, I have had a revamp. I have switched certain funds to oth...
Form 16A from the bank shows, 1325 TDS deducted for interest amount 13248. Where as Form 26AS shows, 2006 TDS deposited for interest amount 17661. Also, the from the interest certificate from bank, the total interest amount(on FDs) is shown as 20058.
In Form 26AS, for a transaction of interest amount 1694, the TDS deposited is shown as 410. But it seems to be for (1694 + 2394). Here, amount ...
I have received an email from IT dep. saying..
It is seen from your 26AS statement that there are TDS deductions on payments received by you during F.Y. 2016-17.
Therefore, it is advised that you may ascertain your tax liability for AY 2017-18 and file your Income Tax Return (ITR) by due date. If your case in not auditable, your due date for filing of your Income Tax Return will be 31s...
Hello,
I work as a translator cum content writer and have income of around 22 Lakhs. I heard on TV Taxguru program that people with my profile can claim 50% provisional income under section 44ADA, and pay taxes on only 50% of the remaining income by filling the return form no. 3.
My question is that what should I enter into following 3 fields in ITR 3 form "Profit and Loss" sheet column 53 ...
Hi
I am selling knowledge videos online which i get these made from my husband. Assume my income from sale (Turnover) for FY 2015-16 is 4 Lac & for FY 2016-17 is 6 Lac which directly comes into my joint bank Account (my & My husbands JBA) .(I have no other income).
Can i File a return (ITR4S) under section 44AD (as Presumptive Income) Can i show 8% of T/O as my income (without having to ma...
I have a continuous employemnt for more than 5years as per my UAN . Hence in my current company i applied for the PD transfer from my previous organisation and the same was approved and submitted to EPFO portal in Nov-2016.Later the PF website went down and i couldn't check my transfer status.
In the mean time i resigned from my current organisation and applied for PF withdrawal. I expected as...
Hello Folks,
I am in a very serious confusion regarding multiple things, So I'd try to elaborate as much as possible:
I have three major sources of income:
1. full-time job in a company (monthly salary)
2. part-time freelancing (inflow on regular basis)
3. part-time from another company (monthly salary)
From #1, I make around 1.5L per month
From #2, I make around 1.2L per month (on...
Sir / Ma'am,
kindly help me to understand the following.
i want to publish a puzzle book [authored by myself] and sell it to the end user directly [by myself].
the expected turn over is hardly 5 lakhs per annum which is not applicable in GST.
1, for starting as small proprietorship firm, which are the registrations i need to take?
2. is commercial space mandatory for this business OR can i...
Fact }my mother had two Plots. Plot A purchased in aug,2012 for 534500 and Plot B purchased in dec,2012 for 577800. She sold the plot A for 14 lac in Dec,2016 & sold Plot B for 7.25 lac in Jan,2017. further a new residential house was purchased for 16.5 lac in march 2017 & amount of rs 220000 is invested in NHAI bond in march 2017. we do not have any other residential house other than newly pur...
Hi,
I worked as a professional/consultant in government sector for 10 months in the last financial year, which didn't included any allowances like HRA and others, but only consilidated salary/professional fee.
Now I want to claim deduction for
1. House rent, which is 81000/-;
2. medical allowance, which is 15000/-;
3. Vehicle Maitainance which is 60000/-;
4. Conveyance/transpor...
I have a unique scenario to deal with, please advice. (Incidents in financial year 2016-2017).
- Mr. X resigned the job from ABC company and joined XYZ company
- XYZ company had an option to no to opt for PF, so Mr. X decided to maintain his own PPF, thus applied for a PF withdrawal
- PF withdrawal processed successfully, He received an amount of INR 2,70,000 (Three Lakhs) after deducting t...
sir, I am in coal transport business. My monthly profit is around 80000 and t i have emi of 26000 for my truck. sir let me tell you my business scenario i buy coal from company about 70k-80k for about 20 ton coal. Then i sell it to the bricks plant at the same amount i purchased and i got only fare about Rs 1300 per ton i.e 1300*20=26000. I spend 11000 for diesel and toll tax, driver xpenditure...
I have couple of questions around income from house property (w.e.f changes from 2017) and need your valuable advise.
Here is my question :
I have two flats on my name, For the 1st one home loan is closed and which is self-occupied where I am staying with my spouse and parents. 2nd flat is on rent for which SBI Maxgain home loan is going on. Since last year I am unable to take the tax benef...
I got a notice giving me 5 days to furnish information of equity transaction of 5 Crores in 2013-2014 the notice is received in 2017-2018 financial year. On seeing my details I saw intraday trading with Axis direct and my intraday turnover for that year was total of 3 lakhs only of ledger statement and under Indian laws my trunover was 3 lakhs or less and my loss was 23029/- rupees for the enti...
Hi,
I have been living in UAE since 2013 and now going back to India permanently in Jun 2017. I have seen many threads regarding how the residency status can be calculated and I know that I would be resident indian after going back.
My question which is unanswered in almost all the websites is how to calculate the taxable income. Let us say I earned 60000 AED as my salary (From April 2017...
I am inheriting a property from my grand father around 10000 sq ft. The cost of that property will be 4 crores rupees. I want to sell that property, how can i save taxes.
According to my calculation using CII, the capital gain would be around 3 crores.
As far as i have read I can save taxes by investing in specific bonds and can buy only a single property. So if i buy some property for 1 ...
Hello,
I have been in the states since 2008 on J1 visa. For the first 4 years I did not pay any taxes as I was on a scholarship from my home country. Then, I started to receive money from the US and pay taxes. I was always considered as a resident alien for tax purposes.
Note: I also visited the US from December 2007 to March 2008 on J1 visa and I was sponsored by my home country, so no t...
I have no idea till date about how income tax are calculated, and what to do to save them. I know its embarrassing. I have lost lot of money due to this. Can someone guide me on what my taxable income is, how much should I invest in tax saving instruments, what bills are needed to be produced for monthly reimbursements, etc etc. I would really appreciate it. Below are the income details. My CTC...
Team,
Could you please help me clarifying my query on salary income earned in Switzerland is taxable in India ?
Below are the points referring to above.
1. Stayed in Switzerland on deputation model for 80 days in previous fiscal year.
2. My employer is registered in India & Switzerland both and it's origin is US.
3. I have payed 11.50% tax to Switzerland government on my salary income.
...