A
Atso Lasuh
I am under schedule tribe category. And working in ST area under central government. My salary was deducted for TDS. How do i file ITR and get refund
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Schedule tribe income is exempt u/s 10(26) for certain states if you fall under that state your income would be exempt and you need to show entire salary in that column and claim exemption.
If you need any assistance feel free to contact me at canamanmaloo@gmail.com
V
Vibhav Shukla
I had started working in 2013. Since then I have changed 3 jobs. I have more than 5 years of work experience combining all employers. Can I withdraw my PF now ?
A
Akshay Shah
I did some intraday equity trading, F&O intraday trading and F&O delivery trading. The intraday turnover is Rs.13860.40 and realised profit is Rs.9101.50. Similarly my combined F&O turnover (scipwise calculation) is Rs. 186143.75 and combined realised profit is -34982.50 (LOSS). Do I have to get tax audit under section 44ab since my profit is less than 6% of the turnover (since it is loss)?
Mr Akshay, this section of getting your accounts audited has been amended. Refer 44ad(4).
Mow, you would not be required to get your accounts audited even if you show profit less than the limit prescribed under 44ad.
But, do make sure that your calculation of turnover for audit purposes is as per tax laws.
For more consultations mail at vmassociates2017@yahoo.com
C
Clinton Lobo
I've inherited shares and mutual funds which have been purchased many years ago by my father. I wanted to know if the holding period is transferred onto me and if these shares/mutual funds are eligible for XIRR returns when I sell them ? If so what would be the documents/procedure required ?
What is XIRR returns?
For more discussion you can mail me at canamanmaloo@gmail.com
XIRR is the average rate at which any investments have compounded year after year. For more info see : https://freefincal.com/what-is-xirr/
CA Vaibhav Mago 21 Jul 2019Mr Lobo XIRR has nothing to do with income tax purposes.
When you sell the mutual funds, you simply calculate the gains (short term or long term).
Further, holding period of your father would be included while ascertaining the overall holding period.
For more consultations mail at vmassociates2017@yahoo.com
K
Kbothra
I sold shares. my gains are below 1lakh.do i have report in ITR? If yes, is there any provision for in ITR-1 or do i have to fill ITR-2?
Yes you need to report it in ITR and also you'll have to file ITR 2 but now you are not required to give scrip wise details after recent update.
If you need any further information you can mail me at canamanmaloo@gmail.com
Thanks! Does that mean I can just mention the total capital gain figure?can u please mention which row in b(4) do I have to mention
T&C apply
