Fire your tax related queries and i would get it solved!!!

[traderniftybull]

I bought IT stuff for 1 lac as well as furniture worth 1 lacs around, air conditioning still to be purchased

Only a tax expert can tell you about depreciation available on these capital assets. I dont have current info.

 

[canikhil]

Nikhil Sir

Please reply.

If the total Income (after providing for the 30% deduction) is in excess of exempted limit.

 

[canikhil]

Is it an idea or business need?

Bought new pc 5 monitors for trading purposes, is it idea or business expenses

Buying air conditioner too, that's an expense?

I think my turnover is high so will get audit done anyways

all the assets used for business are covered and depreciation is provided under different slab rates.

for IT products like computers depreciation is at 60%...for furniture etc 15% depreciation is permitted.

However, AO has the power to verify whether the assets are being used for business purpose or not.

 

[timepass]

The new 1 page ITR form, can the traders use it ?

 

[elwavetrader]

The new 1 page ITR form, can the traders use it ?

No, not for business class

 

[traderniftybull]

The new 1 page ITR form, can the traders use it ?

Bhai, this newly introduced 1 page ITR is ITR 1 and so cannot be used by traders.

This new ITR form is meant for those, who have (any one or both)
1. Salary income
2. Income from house property, only 1 house property, if one has more than 1 hose property then, cannot use this form.

But a problem is there and this new ITR form may not be used by most of the individual. As dept has notified that, this form to be used by only these 2 categories, (and the fools) gone silent on income from other sources, and most of individuals have this sort of income, you, me, he, everyone. Which income is this. This is bank interest income, in any form. And no clarifications has been given for this.

So untill any clarification is not given of this aspect, this new form will be of no use for most of the individuals.

 

[natjay]

Is anyone facing this annoying problem while linking Aadhaar card to PAN card on the I-T site?

My name, DOB and gender are all exactly the same as in my PAN card but despite that, I get an authentication error while linking the two on the income tax efiling site. I tried multiple times, but it's failing. It should be a simple task but it's turning out to be a nightmare!

 

[TraderRavi]

Is anyone facing this annoying problem while linking Aadhaar card to PAN card on the I-T site?

My name, DOB and gender are all exactly the same as in my PAN card but despite that, I get an authentication error while linking the two on the income tax efiling site. I tried multiple times, but it's failing. It should be a simple task but it's turning out to be a nightmare!

may be site facing some problem
as mine was done quickly.

 

[natjay]

may be site facing some problem
as mine was done quickly.

I'm trying since the last few days, bhai. Today also the same problem & error.
Despite the push for digital this and that, govt departments are still way behind the curve.
Not very user friendly at all.

 

[FnOtrader80]

I received following mail from income tax CPC:

Statement of Financial transactions (SFT) should be filed by all reporting persons covered under Rule 114E of Income-tax Rules, 1962. Due date for filing the same in Form 61A is 31st May 2017. Detailed procedure of ITDREIN registration and upload of Form 61A is available under the "Help" section and updated Form 61A utility and Schema are available under the download section of http://www.incometaxindiaefiling.gov.in/ and https://www.cleanmoney.gov.in/

You are requested to submit the "SFT Preliminary Response" under compliance section post login to eFiling portal.

Online filing of form 61A requires a valid class 2 or 3 digital signature certificate of responsible person filing the same. Please refer "DSC Management Utility" manual under help section on how to generate the signature file, attaching the XML with signature and uploading of XML with signature file in eFiling portal.

I think i got this mail as i am required to audit my accounts under sec 44AB. Any one else got this mail ?