Decode Ballistic Reports Like a Pro. Register Now!
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Radhakrishnan K.V.   02 May 2013 at 23:48

Income tax assessment

A.O. issued notice u/s 148 for assessment on an assessee who failed to file return under sec.139(1) or 139(4). Is it a proper proceedings as the assessee was not issued with a notice u/s 142(1) or any other notices calling for return earlier. In other words, can original assessment be made u/s 147 straight away without resorting to the usual assessment procedures.

Radhakrishnan K.V.   02 May 2013 at 23:11

Service tax

Hi friends,
I would like to know if there is any court order which deals with applicability of Service Tax on primary co-operative credit societies other than the decision of Commissioner CEC (appeals), Pune on Jankalyan nagari credit co-operative society.

dinesh kumar   02 May 2013 at 22:52

Huf

I HAVE A HOUSE IN MY NAME WHICH HAS RENTAL INCOME INCLUDED IN MY IT FILE.ON THIS HOUSE I HAVE ALSO TAKEN A LOAN FROM LICI.I AM ALSO A KARTA OF MY HUF FAMILY CONSISTING MY WIFE & TWO MINOR CHILDEREN AS CO PARCENER.
NOW I WANT TO TR.MY HOUSE TO HUF SO THAT ITS RENTAL INCOME MAY INCLUDE IN HUF INCOME.IAM IN 30% RANGE OF IT AS INDIVISUAL
WHAT I SHOUL DO TO TR.THIS PROPERTY FROM IDIVISUAL TO HUF.

d. chandra sekhar   02 May 2013 at 19:56

Statutory forms

Please clarify the issue

One of my client is a registered dealer both under APVAT and CST Act, The Assessing authority has finalized the CST assessment for the year 2008-2009 and mentioned disputed T.O and Tax on disputed T.O for non submission of F Forms. Client has filed an appeal and produced some F Forms received after finalization of assessment. The Appellate Authority has consider the F Forms received and passed orders. The client has failed to file one F Form received before the appellate authority before passing the appellate order.

In such circumstances, please clarify if my client has a chance to file the F Form before the assessing authority for reopening of assessment as per Judgment delivered by the High Court of A.P, even the appellate authority passed the order.

Please also give any judgments in that point.

Akshay Jain   02 May 2013 at 18:32

Urgent- service tax query

One of my client has received the Demand notice from Service tax Department. He is not the service provider but service receiver.The case is:

Mr A takes service from Mr B residing abroad for printing the ads of Mr. C in foreign Magazine. Mr A remitted foreign exchange on behalf of Mr. C to Mr. B. Now the service tax department has issued notice to Mr A to pay service tax on import of service from 2008-2010.

Now the query is whether Mr A is liable to pay service tax and whether advertisement given in print media i.e. magazines exempt.

Please reply at the earliest and thanks in advance.

ashok thakker   02 May 2013 at 08:59

Interest on tds 2012-13

Sir,
Mine is a proprietorship concern,we have found some discrepancies in TDS returns in 1st and 3rd qtr of fy 2012-13.Some interest is due to be paid,we have decided to pay it now till May'2013 from the date of payment of TDS and file revised returns.Agency whom we have entrusted the job of filing TDS returns say it can not be done now till a default is created by Department, why can't we do it voluntarily ? pl advise exact procedure....for correcting this mistake.

Regards,
ashok thakker

Mahesh Chand Gupta   02 May 2013 at 00:30

Income tax return

Assessee filed his return of income for the A.Y. 2007-08 on 14.12.2007 in Saral Form as filing of Return on Saral Form was allowed by Allahabad High Court. Later on, Stay of Allahabad High Court was vacated by Supreme Court and direction was issued to file Income Tax Return by All the Assessees in new Form – 4 upto 28.02.2008. The assessee could not file return again in new Form – 4 upto 28.02.2008. But later on, assessee filed Return in new Form – 4 on 24.03.2009. The assessing officer states that the original return was filed after due date and hence assessee is not entitled to file revised return. That’s why assessing officer is not completing assessment on the return filed on Saral Form on 14.12.2007 stating that it is not a valid return as the assessee didn’t submit return on Form – 4 upto 28.02.2008 and assessing officer is not completing assessment on the return filed on 24.03.2009 stating that the assessee was not entitled to submit revised return as the original return was filed after due date. Please advice.

sood   01 May 2013 at 19:01

Taxation as nri

My daughter is working in USA for the past one year. and has her Income there. In India, she was a tax payee by virtue of her Interest earnings from loans to her fathers business (TDS is deducted) and dividends from mutual funds, her IT return is being regularly filed in India.
Does she have to declare her income in the USa and how does she go about it. Can anybody help
Thanks in advance

Tarun Aggarwal   29 April 2013 at 16:47

Tds return wrongly filled through e filling

I have wrongly deposited my TDS through internet banking ,stating the assessment year 2012-13 which was to be 2013-14 and also stating the nature of payment as 94B INSTEAD of 94A. Kindly suggest me how to get my cyber receipt corrected,so that i can file my return. I am deductor not the assesee.

venish ladva   29 April 2013 at 14:11

Slc/pcfc/cc

what is the meaning of SLC and what is the usage of it ???

how PCFC disbursement procedure happens if company also availing cc from same bank ?

how to find out PCFC rate of interest???


if bank is charging higher interest on cc than mentioned in sanction letter then bank is charging interest at base rate+ fluctuating rate then how to find out that rate ??