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Sravan

Presumptive taxation...
Hi
friends
I filled it 3 as presumptive income


and I innocently to write cash bank balance in no books of accounts
as 0 (zero)


plz tell whether I have to file revise it or I can leave it
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Amlan Dutta
You can leave it , there should be no concerns but be careful next time round ...
  • September 2, 2018
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Vishal

Preparing Balance sheet...
How should any cashback, on any expense be treated, while preparing your balance sheet? Ex: cashback which comes into your paytm wallet.Should it be adjusted in drawings in capital a/c or in cash in hand under balance sheet or as income ??
If income under which head?
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Amlan Dutta
Say i pay using HDFC credit card 100 rs for a ticket and get 30 rs cashback on account of using HDFC , then this 30 rs enters my account and is available as cash ...so , as per my interpretation it should be cash in hand ...no question of drawing from capital a/c ...we are not withdrawing the 30 rs ...
  • August 20, 2018
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Ram Mahaseth

44ADA ( Profession)...
I had asked a question previously regarding filling of ITR. I receive four quarterly form 16A totalling 4,20,000 given under 194J.
Money is credited in bank account and I study in private hospital for a post graduate course. They pay me for the work I do there as a part of my course requirement.

Now...
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rohit

44 AD ( Business income)...
i file itr 4 (44ad) in last 2 year FY 2015 - 2016 and 2016 to 2017 INCOME FROM capital gains as business income THIS YEAR i have only long term capital gain on shares all income Exemptions under section 10(38) on Long-Term Capital Gains ..and there is no other income such as Professional Income,...
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Amlan Dutta
Yes, you surely can file ITR 2 ...if all you have is exempt LTCG , then even ITR 1 can be used ....as you are already aware that once you decide to discontinue presumptive filing then you cannot use that for 5 years ...
  • July 25, 2018
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manoj

44ADA ( Profession)...
I am a contract employee previously i mention that my other income are fd,pension, mf can i use itr4 and 44ada section. My total financial year income 247486 rs
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Amlan Dutta
You won'be able to use ITR 4 , but you can use ITR 3 since you have income from capital gains
  • July 22, 2018
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NAWNIT KUMAR

44ADA ( Profession)...
Hey! If I have income from consultancy and salary, and I am filing ITR4, then do I need to fill balance sheet?
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Amlan Dutta
yes, you need to , i have made a tutorial for that , you can refer to it
  • July 22, 2018
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manoj

44ADA ( Profession)...
My salary TDS has bee deducted under section 194j and my other income come through the pension + fd and mutual fund. which ITR form i filed and how to prepare balance sheet....?
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Amlan Dutta
Salary TDS is not deducted using 194 .It is done using 192 ...yours must be professional receipts and so the deductor used 194 J ...if it is salary then ask the deductor to revise accordingly .....pension can be shown under salary and FD under other sources ...mutual funds under capital gains ...yo...
  • July 22, 2018
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KEDAR MAURYA

How to fill financial particulars of Business/Profession...
Hello sir
Plz help me to file itr 3 for lic commission income for year2018-19.
How to prepare balance sheet and other information.
Plz guide me
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Sumita k

How to fill financial particulars of Business/Profession...
Sir i am a contract employee..got 2 lakhs salary this year from the company and 10% of tds claimed there which is given in form 16A...so i am filing itr 4 as 44ADA...if i used 1.5 lakhs money for my personal expenses..should i show only 50,000 in E11(particulars of buniness)?
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Sumita k
Thank u sir...Sir my profession is teaching in technical institute....You have written "whatever the financial particulars status strictly w.r.t to the profession, that alone has to be displayed"... but i dint expense on professional stuffs..viz computers,projectors etc are provided by institute whe...
  • July 21, 2018
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Sumita k
Thanx alot sir for making it very clear..
  • July 21, 2018
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AVIJIT

44 AD ( Business income)...
Hallo Amlan, thanks for the knowledge you are sharing for the common people.I myself file my return and your videos helped me a lot.
This year I have income from salary, have STCG, a very little profit of Rs 746 from intraday equity trading and a loss of Rs 1360 from commodity futures trading. My tu...
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sandeep

How to fill financial particulars of Business/Profession...
Hello Sir,

This is Sandeep & i am working as a professional. my total annual income is 4766617 Rs. i am applying ITR refund under 44ADA. can you please tell me fields should be zero under "Financial Particulars of Business" or need to enter amount. i had taken some loans from bank and some of other ...
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Amlan Dutta
Following the business entity concept , all transactions for other than business/profession need to be kept separate ...your home loan etc loans that are personal in nature need not be reflected in the financial particulars of the business ...check the answer options - video for this answer to see r...
Following the business entity concept , all transactions for other than business/profession need to be kept separate ...your home loan etc loans that are personal in nature need not be reflected in the financial particulars of the business ...check the answer options - video for this answer to see relevant video  for knowing what to fill in the financial particulars of the business/profession...
  • July 21, 2018
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Faheem Akram

Preparing Balance sheet...
While filing ITR3 ? What will be kept in mind to avoid tax audit?
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Amlan Dutta
Audits fall under section 44AB .......You can check eligibility criteria ......Audit is required mandatorily for business or profession when turnover exceed the specified limits and also when one declares income lesser than presumptive levels i.e 8% of gross receipts for business and 50% of gross re...
  • July 21, 2018
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