sudhindra
21 January 2014 at 11:41
Dear Experts,
One of my friend submitted income tax return for the year 2012-13 through a charted accountant. Which is 44ab Case and claimed refund of Rs 4lacks. Till today the assessment is not done and he can’t get refund back. What he can supposed to take further steps. Please advice
sudhindra
19 January 2014 at 22:43
Dear experts
the department of vat Karnataka, filling cases against vat dealers who failed to submit vat returns continuously for six months in local courts. some traders also paid penalty. but as per Karnataka high court order such dealers can only pay interest on vat due by them but not penalty as it is against to Indian constitution. please solve this problem.
vishal shah
19 January 2014 at 22:18
WE HAVE DEDUCTED TDS ON MACT INTEREST PAID OF RS 200000/-. PARTY HAS FILL SUIT BEFORE MACT TRIBUNAL COURT FOR WRONG DEDUCTION OF TDS AND GIVE CHEQUE FOR WRONG DEDUCTION OF TDS.
CAN MACT COURT GIVE DIRECTION TO ME FOR NON DEDUCTION OF TDS AND GIVE FULL AMOUNT?
CAN MACT COURT HAS POWER TO DECIDE WHETHER TDS IS DEDUCTIBLE OR NOT?
sembaianathan.k
17 January 2014 at 22:53
Dear sir/Madam,
A central govt employee applied and received home loan from June13 and started repayment the same month. But occupied the house only after construction over ie december13.
While calculating for tax, given interestand principle repayment certificate from june13and house rent certificate from march13 to november 13. office people says rental exemption will be applicable only for march to june13.But i have paid rent and bank loan repayment also during the same period. Is there any rule regarding this ? Kindly guide me. Thanks in advance.
R S RAWAT
17 January 2014 at 09:54
A FIRM IS IMPORTING GOODS(INPUTS)'A'AT CONCESSIONAL RATE OF DUTY UNDER NOT. NO.25/99-CUS FOR MANUFACTURE OF 'B' BUT 'B' IS TOTALLY BEING USED IN MANUFACTURE OF 'C' WHICH IS A FINAL PRODUCT & FINAL PRODUCT IS CLEARED ON PAYMENT OF EXCISE DUTY.THESE BOTH MANUFACTURING PROCESS ARE BEING DONE IN SAME FACTORY. AS PER NOTIFICATION IN LIST A COLUMN NO (4) SHOWS THAT 'A'IS INPUTS FOR 'B'NOT FOR 'C' BUT IN THIS CASE 'B'IS BEING USED IN MANUFACTURE OF 'C'.
PLEASE CLARIFY IS IT CORRECT OR NOT.
THANKS
R.S.RAWAT
Anonymous
16 January 2014 at 23:08
Hello,
I have to pay my wife Rs 10 lakhs as consideration for divorce and then we will be filing an application for divorce with 'mutual consent'.
Now I want to know following things,
1. I will have to generate this cash in my books of accounts. What is the Income tax implication. To be precise 'WILL I HAVE TO PAY INCOME TAX ON SUCH 10 LAKHS AS IT WILL BE GENERATED THROUGH MY INCOME FOR CURRENT YEAR.? OR Will this consideration to live apart is eligible expendicture and hence will be allowed for income tax purpose.?
In short shall I pay this amount in black or in white..
2. What is the safest way to pay this amount so that if my wife bakes out from 'mutual consent' , I can atleast get my money back..
Please reply soon..
Its urgent nd serious too..
Thanking you in advance..
rajender
16 January 2014 at 19:57
Is NPA ( non practicing allowance) part of salary for the purpose of HRA exemption for income tax calculation.
Amit Oza
16 January 2014 at 12:38
hi.
i am a salaried person. and my salary comes under not taxable .as it 150000.p.a..In 2008-9 one of my friend ,has opend an tradind account with a broking frim and he was doing trading on my behalf.he has incurred a loss of 15000.and to pay that debit he has transfred stock from his account to my account and sold it.so the due was cleared.
now i have received a notice from income tax. and they have demanded follwing things
Transaction above 20000.with complete detials
and if its there why you havent file tax return for all these years.
if ur income is not taxable from where you got the money for trading ..
please suggest what should i do
kailash chandra
14 January 2014 at 14:48
Sir,
I need the format of affidavit to be submitted to the AO in scrutiny proceedings from cash creditor who has lended money to us.
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Tds
i have recieved notice form traces for tds of various quater showing me short deduction /collection and short payment in some other quater what is the diferrence between short deduction and short payment i have check it quater wise but could find the amt they mentioned in the notice for short deduction or short payment and in some amt which they show as short payment is already paid how to rectify if their is any mistake in tds and if tds return is correct and their in no mistake then what to do in this matter pl do the needful urgently give brief explanation as i have never before recvd like this notice for tds