7 Years Old Ds. Too Much Excitement. How To Control?

Dear ladies,
My son is in Std:II.
To brief, he has moved to a new school this year where few of his friends/classmates too have moved. So he's comfortable with the environment from day1. (I did post a thread a year before that he was adamant about going to the school where he had been since Pre.K.G. He became fine after 2 months)

Problem 1: Till last year, we used to drop/pickup him to/from school. This year we wanted him to go by school bus as my/my hubby's working hours didn't set for picking him from school.
He's happy about going in bus. But we are receiving complaint from driver that he's not sitting in the bus and talking too much. If the attender (Who comes in bus) asks him to sit, he is not listening it seems.
And he's teasing other children elder than him, though they sound funny, not everyone is taking it lightly. And once the bus in-charge madam called me and told that one Class 6 girl had complained about him that he's talking disrespectful.
I was like, WHAT!!!
I know that my son is talkative. But I couldn't digest this.
I advised him. He's Ok for a week. And again I'm hearing complaints that he's playing inside the bus and not listening to others warning that he may fall down

Problem 2: He becomes over enthusiastic when relatives or friends (his or ours) visit our home.
He tries to behave as if he knows everything. If any of his friends are playing out, he jumps in joy and runs behind him/them as if we are not letting him play at all.
And while stepping into house after school, he says he would play till 6PM and then only study.

Also he's so innocent that he shares all his toys with all his friends, but none of his friends would give him a ball even.

He's very good at studies, sports (to an extent) and extra curricular. So I am happy about him except for the above said problems.

My heart aches when I see him accused in front of other kids. Though I know that he's innocent, how to make him realize that all would not take his pranks as pranks only?

Am unfortunate to bear another child and he being the only kid, I want to raise him as a wise, honest as well as a fun loving kid.

Please advice what to do?

Thanks.

 

No reply still
Ladies please advice. Am I expecting too much from a 7 year old?