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Anonymous   05 July 2011 at 17:17

Notice U/S 143(2)

My client has filed return U/S 139 he is a partner in firm filed his return on 30.10.2009 for the assessment Year 2009-10 at Asst Cit 46 and the said Acit has issued first notice U/S 143(2) on 19.5.10 and second notice on8.9.2010 and we have file a letter asking for adjournment on 21.9.2010 now the case has tfr to respective Income tax officer for completing scrutiny and he has not served any notice saying he is busy asking for to complete the assessment whether this notice issued on 19.5.2010 u/s 143(2) is valid

Harsh   05 July 2011 at 13:27

TDS

What is the remeady available if the firm filed TDS by mistake? wheather the firm is liable for commision to the person who is taking the goods from the firm for selling on the basis of comission?

vk_neurocare@hotmail.com   05 July 2011 at 00:02

income tax

sir i am running my business at small station and now i want to submit my return at delhi and to contine my business at sikar.what problems can i face from local tax office.

Ranga   04 July 2011 at 19:27

Labour Contract

A company engages workers through a contractor, weekly payments are made to the contractor and distributed to laborers through individual vouchers. Company deducts TDS and pays ESI/PF. Since the amount is paid to the contractor, for distribution to his workers, is it necessary to contribute for ESI/PF? if the contractor has not registered his workers, who are casuals and no worker works for more than 3 months? If the company maintains individual vouchers contribute to ESI/PF TDS applicable?
Ranganathan

hemantslink@gmail.com   04 July 2011 at 17:27

professional tax

I WANT TO KNOW WHEN PROFESSIONAL TAX IS APPLICABLE
WHO NEEDS TO GET REGISTERED FOR PROFESSIONAL TAX
AND
WHAT IS THE METHOD TO GET REGISTERED

Anonymous   04 July 2011 at 16:31

Funds received from abroad

hello,
I recently bought a house in NOIDA. My self my wife and my brother are co honours of the house.

My brother stays in australia and he has transferred 10 lakhs to my account to do the down payment.

I have also received Rs 7 lakh 61 thousand from my french friends in order to pay the intial amount to book the house.

He has transferred the amount to my ICICI bank. which is not my salary bank account.


I will slowly return the money to my French friend. Please suggest about the tax part.


Thanks and regards

Anonymous   04 July 2011 at 12:02

Rebates

Dear Sir,
Pl guide whether an employee is eligible to claim following rebates:

1. Sec 80E (Interest on Education Loan of his/her ward re-payed).

2. Sec 80D (Medical Insurance Amount paid towards Insurance of his/her ward).

In the circumstances that the ward(s) of the employee are employed.

Please guide.

Ashok Kumar Sharma   04 July 2011 at 11:54

Filing Of ITR

Dear Sir,
It well known fact to that 2nd pension option was offered to existing PF optees in Banks against COST. Following is position in detail:
1. 2.8% of Salary of Nov 2007 was recovered from the existing PF optees in the Bank for opting Pension Option. (The amount varies according to salary of the employee).
2. TDS was deducted on entire Arrears payable to the employee and the same was either deposited in Govt. Account of was kept in Sundries Account of the Bank.
3. In April 2011, Kerla High Court gave an interim injunction on this TDS (deducted on the cost to pension) for three months. This stay has been extended for further two months.
4. Now the question arises as how to file the ITR under these circumstance as the last date of filing of the return is 31st July and the interim injuction is effective till 31.08.2011.
Pl. guide.

Rohan Shetty   02 July 2011 at 02:28

TAX ON GIFT FROM GRANDFATHER

My name is Rohan.
My grandfather Mr. B.S Naik. Is a well reputed individual.

the gift deed is already registered in november 2010 .... i cannot afford the taxes .... since i am still a student .....

refer the following

(My grandfather) B.S Naik is approx 82 years old and is a bachelor till date! He bought My Mom to Mumbai from Manglore and good took care of her ,educated her and made her an independent individual . Post my mom got married to my dad ,still we stayed with my Grandfather, Mr. B.S Naik. My mom had two kids. I am the elder to my sister who is 21 years old.
My dad is absconding since 2005 July and my mom is working for a reputed organisation and has abandoned us since long!
Now my grandfather who is my moms maternal uncle (Mama) has taken care of our upbringing and is the only one who has taken care of us since our birth. (our-me and my younger sister)
November 2010 he gifted his property(house) approx value 70 lakh to me and my sister with 50-50 stake each, Just to avoid and claims on his will. This is a decision taken by him!


Now I was highlighted that I am eligible to couple of taxes!
Gift tax and income tax!
Could any one please throw some light on this issue –
As i was informed that “my grandfather is not a relative to me as per law” and i would be eligible for 30% tax of the property value!
If yes is there a solution as i am just a student and i am going through tremendous stress post realisation!
The transfer is registered through a gift deed and is completed under the guidance of a professional lawyer who did not inform about any tax or complications!



Contact me on 9619000104 or rohansshetty@gmail .com
I am unaware about the policies and procedures in this site ... please pardon me if i have broken any policy of this site!!!

Vijay Kumar   01 July 2011 at 22:25

Place of filing IT Return

Whether it is necessary that one must file IT Return at the place of one's permanent residence?
OR
Whether IT return can be filed with any Income Tax office in India?