V
Vinai
I have a residential house with a number of tenants.
I also have a written agreement with a service provider to collect the rent from the individual tenants, deduct his consideration and credit me with the balance.
What would my turnover be:
(a) the aggregate of the rents as per tenancy agreements
Or
(b) the total of amounts transferred to my account by the service provider
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Turnover would be aggregate of the rents but you will also be eligible to claim deduction for the expenses that you incurred to generate the income. For more professional assistance , connect us @ www.tarunguptaca.com or 9216216819.
CA Puja Sharma 18 Jul 2022The total rent as per the tenancy agreement will be your aggregate turnover.
For a more detailed discussion, you can connect with us at ca.pujasharma@outlook.com
D
Devanshi Chadha
Which ITR do I need to file to show my TDS-194c income? Can I file ITR 1 and show it in the others section? And how?
Yes if only that income. For proffessional help contact deepikajagan01@gmail.com
CA Roomi Gupta 18 Jul 2022Incomes that are received from the contract (TDS -194C) are to be shown under the head income from business or profession and you will also be eligible to claim deduction for the expenses that you incurred to generate the income. ITR 4 will be applicable . For professional assistance , connect us @ www.tarunguptaca.com or contact @ 9216216819.
CA Puja Sharma 18 Jul 2022If the contract income is not regular, then you can file ITR 1 and report it under the head of other sources.
For any assistance in return filing, you can connect with us at ca.pujasharma@outlook.com
J
Joe Tim
Hello, my salary income is nil and i do trading indian stocks but the gains are not above than 2.5 lakh so is it compulsory for me to fill the itr ??
If the total income is below 2.5 lakh you need not file income tax return.
However if you still have any confusion you can book consultation with expert and even get assistance in filing your Income tax return: https://www.taxontips.com/income-tax-return/
No need if you don't have income under any head. For professional help contact deepikajagan01@gmail.com
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Kamal Vijayvargiya
Dear sir,
i am an employee of PSU Bank which provides me reimbursement of medical expenses, i incurred on treatment of my 80 years old father who is suffering from chronic kidney disease and requires twice a week dialysis and other medical treatment. The expenses are around Rs. 200000 per year.
my employer add this amount to my salary and deduct tax @ 30%. I like to know that is there any provision that i can say my employer not to deduct tds or can i claim any relief or deduction while filing ITR.
Please inform details of provisions and process.
regards
Its an amount reimbursed by your employer and paid you so it is taxable in your hands.
You can check if such disease fall under any deduction and if you could claim any deduction against such income received.
You can book consultation with experts at: https://www.taxontips.com/tax-notice-personal-consultation/ and discuss if any tax can be saved.
It needs detailed explanation. For professional help contact deepikajagan01@gmail.com
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Pooja
I have taxable income for last FY year. I switched my job within FY and missed the investment declaration timeline .also I don't have much investment for the last FY .
Iplease suggest for tax savings
Hello,
Even if you missed the investment declaration to your employer, you can claim the same in your income tax return.
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
Even you miss it then now you can claim in itr depending on the nature of investment. Contact deepikajagan01@gmail.com for further queries
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