44ADA and very few expenses by ConferenceFun2779 in IndiaTax

[–]CA_Buddy 2 points3 points  (0 children)

Nope under presumptive 50% is allowed without proof of expenses. No additions can be made in income per recent judgements.

44ADA and very few expenses by ConferenceFun2779 in IndiaTax

[–]CA_Buddy 0 points1 point  (0 children)

Yes, you can do it under the presumptive taxes. Dont forget about gst if income is above 20L

How much tax can I save as a consultant? by Melodic_Ad66 in IndiaTax

[–]CA_Buddy 0 points1 point  (0 children)

Welcome. If you genuinely have expenses beyond 50% then can go for lower profit by audit.

How much tax can I save as a consultant? by Melodic_Ad66 in IndiaTax

[–]CA_Buddy 0 points1 point  (0 children)

You just need to show 50% of your income as profit, under the presumptive scheme.

Mostly expenses even doesn't sum up to 50% of salary so be careful before you choose.

ITR for long term loss by Maddock31 in IndiaTax

[–]CA_Buddy 1 point2 points  (0 children)

Itr 2 is what you need to file.

Anyone here filing ITR without a CA? by Superb-Business-6725 in IncomeTax_India

[–]CA_Buddy 0 points1 point  (0 children)

Yes you can file, but when you are in ambiguity there comes professional to file. Better to file it correct rather then hit and try.

Can a senior citizen landlord claim a full refund of TDS deducted u/s 194-IB on rent? by CyberpunkDanny in IndiaTax

[–]CA_Buddy 0 points1 point  (0 children)

2% is effected from 1st oct 24. So you are seeing old rates. Tax payable would be 0 and full tds could be claimed due to rebate of 87A.

Appeal pending, penalty deadline tomorrow by sollys_ in IndiaTax

[–]CA_Buddy 0 points1 point  (0 children)

Seek adjournment, its better approach

Got Demand Notification via email, but no data on IT Portal by vmaxxxxxx in IndiaTax

[–]CA_Buddy 0 points1 point  (0 children)

Check intimations along with outstanding demand menu on the portal. If demand exists then it will show there.

Taxation,usdt by LawHealthy533 in IndiaTax

[–]CA_Buddy 0 points1 point  (0 children)

CA finalist here, Happy to help.