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 ...
Hello sir \ mam
With due respect myself Bharat from Jodhpur .. i am a commission agent .. as per above messages .. GST number is required for above 20 lacs income on commission ... but as i read in google there is mandatory for Agent,broker, arthiya etc ..to have a GST number.. even if u have a income of rupees 1
bcoz government had ruled a compulsory 18% GST for any agent ... !!!
GST on...
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...
Dear Sir/Madam,
My name is Tatyana and I represent Law&Trust International company. We are interested in your consultation in respect of new Indian taxes and regulations (GST, GAAR). We have an Indian resident company and interested in legal way to minimize taxes. We consider UAE company to buy Indian company in order to pay 5% dividend tax and also involve Cyprus company in order to buy pro...
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...
Hello, Good Evening Sir,
I'm Jinal Vora from kolkata, west bengal,
I'm currently pursuing B.com(Hons).
Firstly i would like to Thank You for helping your clinets by all means and giving your time to them.
Sir as you know GST has been implemented and Tax System has fully been changed.. and people like Students,Employees,Agent(Brokerage/Commission) has doubts regarding this GST , that ho...
Hi,
From Last Financial Year (2016-17) I became a NRI.
When I was a resident Indian I have opened multiple savings account in my name and in my spouse name. In both our accounts our names are included as the second holder and we operate as E or S. Now my query here is can I continue with my Domestic Savings A/c with my spouse (She is a Resident Indian) as a second holder. I do get Rental ...
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...
I need information. Information to do things from today to the day of my my first tax-payment.
I am confused. I don't even know that I should know. So, here's some.
I am a freelancer. I design logos mostly. Most of my clients are from United States, UK etc. I get paid to via PayPal. I need to know how much tax should I pay? when should I pay? where(website)? how much(%)?
I make 20,000 ...
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 am Coal Trader not a transporter. I purchase coal from Importer and I manage transporter to load coal from importer place. And then Transporter unload it at my buyer place.
Now, Here Importer will charge 5% GST to me and Transporter will charge 18% GST as service to me.
For example,
Coal Value is 100000 + 5% GST = 105000 and Transport Charge is 10000+18% GST = 11800. Now My total Buy...
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...