S.K.Goel
03 July 2013 at 22:14
For assessment year 2012-13, IT has raised a demand under section 143(1). In fact Post Office has deducted 4 instalments of TDS and issued Form 16A accordingly. However , as per AS26, one instalment is not posted as such mismatch and demand. I have taken up with the Post Office and it is expected to be corrected.
What should I do in case it is corrected.
Also what I should do in case it is not corrected?
Sunil Kumar Goel
NITIN SHARMA (LL.M.)
03 July 2013 at 14:07
Dear Sir,
There is an assessee who is a work contractor. In FY 2010-11 his gross receipts were 1500000/- and tds deducted thereon is Rs. 15000/-. He did not file his IT return for the relevant year.
Now he has received an non-statutary intimation from department asking him that he has received the sum of Rs. 15 lacs in fy 2010-11.
How is the idea if I make responce to that intimation by stating that the sum stated in intimation is gross receipts of work contract business and as the assesssee's net profit was below the exemption limit, therefore he did not filed his return.
If the department issues next intimation asking him to file return then assessee's return can be file by opting section 44AD which will come below the exemption limit.
Please advise me.
Gautam
03 July 2013 at 12:33
Dear Sir,
I have a question to ask.
Can 80G(5) Income Tax Exemption Certificate help people in converting their black money into white by donating into the trust, and if yes then how it happens?
Prakash Chetwani
03 July 2013 at 01:02
I am a registered dealer in Gujarat, I have VAT payable in a month, but in the same month i have ogs sales, on which i have collected CST, i want to know whether i adjust the CST payable with VAT payable and pay collective as VAT?
please reply asap
Thanking you
NITIN SHARMA (LL.M.)
02 July 2013 at 20:51
Dear Sir,
There is an assessee who is a work contractor. In FY 2010-11 his gross receipts were 1500000/- and tds deducted thereon is Rs. 15000/-. He did not file his IT return for the relevant year.
Now he has received an non-statutary intimation from department asking him that he has received the sum of Rs. 15 lacs in fy 2010-11.
How is the idea if I make responce to that intimation by stating that the sum stated in intimation is gross receipts of work contract business and as the assesssee's net profit was below the exemption limit, therefore he did not filed his return.
If the department issues next intimation asking him to file return then assessee's return can be file by opting section 44AD which will come below the exemption limit.
Please advise me.
krg
02 July 2013 at 06:15
i have purchased a flat for rs 5700000 the sale deed registered on5.11.2008 andthe flat was handed over later i sold it on07.9 2012 for rs 5750000 how to calculate long term capital gain tax cost index should be taken registered year or the year of handing over year
Sandeep Jain
02 July 2013 at 00:31
Penalty of Rs100000/- each was levied in 2012 for cases AY 2004-05 & 2005-06 ... Actual balance sheet was filed in 01-10-2007 due to seizure of original documents by DRI.
krg
01 July 2013 at 22:46
i have purchased a flat for rs 5700000 the sale deed registered on5.11.2008 andthe flat was handed over later i sold it on07.9 2012 for rs 5750000 how to calculate long term capital gain tax cost index should be taken registered year or the year of handing over year
Rajiv Bhatnagar
01 July 2013 at 20:27
my client have a registered office in UP and the company have open a branch in uttrakhand VAt for trading of scrap after closing the trading activity the company want to surrender RC under VAT ACt and secondly company purchased some machinery against form 16 for doing other housing work but the assessing officer told the those machinery purchased under form 16 are chargeble to vat ( treatment of machinery ) but actually company is regularly using those machinery.
pls give the opinion
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Income tax salaried
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