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Vicky
Hi
I'm buying a registered plot from a pvt ltd company.
There are total 4 directors in that company and they are providing me a resolution letter for the sale deed by authorizing one of the directors and signed by only one other director, not by the rest of the 3 directors..and also there is no seal on that letter..it is just simple printed paper.
Is it a valid resolution letter?
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Yes, a board resolution will only be signed by one of the directors. Please check whether the resolution is not signed by the director who is authorised to sign the Sale Deed.
T&C applyR
Remesh Kumar
Used ITR4 from AY 2011-12 TO2019-20. ITR3 used for AY 2020-21 TO 2021-22 .Can i use ITR3 for the AY 2022-23 If other eligibility factors are satisfied (Explanation reg Section 44ad(4))
Yes you can if you are not breaching other conditions mentioned in 44AD(4).
CA Rahul Dwivedi 4 Jul 2022Dear Mr Ramesh,
Selection of ITR bansed on fullfilment of criteria mentioned for that particular ITR. You can switch to any ITR provided you fufill the criteria of that ITR. If you are satisfing the condition of ITR 4 than definitely you can file it.
For further consultation you can reach us on ca.rahuldwivedi@gmail.com or 9004485377
Hello,
Yes you can use ITR-3 Form.
I hope that this answer satisfies your requirements. For any query, please feel free to contact us at badlaniassociates at Gmail.
Regards,
CA Hunny Badlani
Badlani & Associates
https://goo.gl/maps/CHA32shfXavRgdLr5
Yes, you can use ITR 3 as you have mentioned that you are satisfying all other conditions of 44AD(4).
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Alok Patil
I want to claim my TDS.
but i have started my invested in mutual fund and stock from last year 2021 in month of September and i had sell some share in loss.
And other things is that my salary TDS deduction is showing in Business Receipt of AIS Modules.
My employer is Deducting TDS under -Section ITR-194J
So which ITR should i file?
If you want to take benefit of presumptive taxation scheme then ITR 4 otherwise ITR 3.
If you need to talk to expert you can book consultation at: https://www.taxontips.com/tax-notice-personal-consultation/
Dear Mr Alok,
If your employer deducted your TDS U/s 194J then you should file either ITR 3 or ITR 4.
For further consultation you can approach us on ca.rahuldwivedi@gmail.com or 9004485377
Hello,
You can file ITR- 4 or ITR-3.
I hope that this answer satisfies your requirements. For any query, please feel free to contact us at badlaniassociates at Gmail.
Regards,
CA Hunny Badlani
Badlani & Associates
https://goo.gl/maps/CHA32shfXavRgdLr5
You have to use ITR 3 in the above case. If you want to show the mutual fund's loss or gain as capital gain, report it under the head capital gain; otherwise, claim it as business income. Further, since your employer has deducted TDS u/s 194J, you must report it under business/profession. For any assistance in tax filing, you can connect with me at ca.pujasharma@outlook.com
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Ashish Chomal
I bought a land in DEC 1999 at ₹ 300000 and got it registered in AUG 2007 after paying total charges (including penalty) of ₹ 250000. I'm planning to sell the land this financial year (2022-23). I have below queries related to LTCG
1. Can I include Urban Development Tax which I'm paying every year in the Cost of Acquisition?
2. Which year CII I can use for calculation of acquisition cost of LTCG?
3. If I purchase a Farm house from the resultant money, can I claim exemption?
I dont think tax payment can be included in cost as it is not cost of acquisition or improvement.
Do you have any possession letter or ownership letter for 1999?
Yes you might get exemption for farm house.
If you need further consultation with expert you can book at: https://www.taxontips.com/tax-notice-personal-consultation/
No, you cannot claim Urban Development Tax as Cost of Acquisition. If the agreement for the land sale was executed in 1999, you could take CII of that year; otherwise, 2007. I you do not own more than one residential house on the date of sale of the plot, then you can claim the exemption against Farm House.
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Swati
What is a turnover limit for TDS applicability. I run a small business (export of Engineering services) for which I offload some work to local service providers. My annual revenue does not cross 20 lakhs. And want to know that while paying these local service providers, am I required to deduct TDS from their invoice amount.
Normally for any business owner who is running proprietorship concern TDS needs to be deducted by him if the total turnover exceeds Rs. 1 crore and hence you are not required to deduct TDS.
You can book a consultation with expert at: https://www.taxontips.com/tax-notice-personal-consultation/
