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Question & Answer


S

Soumya Bansal

9 Jun 2022

Can house wives select new income tax regime for current year and switch back to old income tax regime for next year ?

Replies (3)                          

CA Deepika Boyina       10 Jun 2022

yes please contact deepikajagan01@gmail.com for proffessional services

CA Anshuka Bathla       10 Jun 2022

Only salaried taxpayers can switch to any regime every year. Non salaried person if switch back to old regime can never adopt new regime.

CA Puja Sharma       11 Jun 2022

As mentioned above, the concerned person is a housewife. While filing the Income Tax Return, they are expected to show self-employed income under the head business or profession. A non-salaried employee cannot change the option to choose a regime every year, If a person opts for the new regime and wants to switch to the old regime. They cannot switch to the new regime again in future.

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S

Soumya Bansal

9 Jun 2022

Can house wives select new income tax regime for current year and switch back to old income tax regime next year ?

No Reply  


K

Kalyan Ghosh

9 Jun 2022

26 AS Site is showing Actual Tax deducted at Source from Employer and BANKER. But ITR Prefilled Page for TDS is showing less by Rs 17200 due to the fact that ITR Prefilled Page has not updated the TDS Deposited in last quarter of FY 2021-22 ie from 1st Jan to 31st March, 2022.How to Edit/Modify the ITR Prefilled Page for TDS
kghosh47@yahoo.com

Replies (1)                          

CA Puja Sharma       11 Jun 2022

You can download the offline tax utility of ITR and fill in the correct TDS figure in that return. However, waiting for a few more days is advisable until the ITR online displays the short TDS of Rs 17200, which was deducted in the last quarter.

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A

Ayush Sahu

7 Jun 2022

If i do frequent and high volume transaction in crypto this year 22-23 .. would i have to pay business income tax or flat 30%

Replies (2)                          

CA Anshuka Bathla       7 Jun 2022

Income from transfer of Crypto currency are now taxable @30%.

CA Puja Sharma       7 Jun 2022

A 30% flat tax rate will apply to crypto gains per the present government rules. For more information, you can connect with us at ca.pujasharma@outlook.com

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B

Bharat

6 Jun 2022

Car depreciation benefit when an individual buys in his name and also tell about the car depreciation benefit when a sole proprietor buys in the name of the proprietorship?

Replies (1)                          

CA Puja Sharma       7 Jun 2022

It won't make much of a difference. If the proprietor purchases the car in his name and uses it for business, he can also show the car in his business accounts and claim depreciation benefit.
For assistance in return filing, you can connect with us at ca.pujasharma@outlook.com

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