reply to income tax notice format


ITD searches resulted in admission of undisclosed income of Rs 45622 crore

ITD conducted searches in about 2534 groups of persons led to admission of undisclosed income of about Rs 45 622 crore apart from seizure of undisclosed assets cash jewellery etc worth about Rs 3 625 crore As part of enforcement measures and based upon credible evidence of tax evasion and other seri

GST to help in reducing prices of various items

FM Government to focus on two important areas including building infrastructure on war footing and substantial expenditure on development of rural India For FDI India is most preferred destination in the world today Major indirect tax reform in the history of the country since independence i e Goods

Union Cabinet chaired by the PM approves the 4 GST related bills today

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi approves the four Goods and Services Tax GST related bills today The GST law will be the biggest reform in the area of Indirect Taxes in the history of independent India The Union Cabinet chaired by the Prime Minister Shri Narendra M

4.21 crore income tax returns Efiled this year

Number of e filed Income Tax Returns in Financial Year 2016 17 till 28 02 2017 was 4 21 Cr The total amount of refund issued in the current fiscal including refund arising out of rectification appeal effect etc is Rs 1 48 459 crore till 28 02 2017 The number of e filed Income Tax Returns in Financia

Invitation to contribute question bank for Information system audit

Announcement Invitation for contributions to Question Bank in respect of Information System Audit Assessment Test ISA AT New Syllabus Information Systems Audit is a post qualification course meant for the members of the Institute Members who are registered for the course are required to appear and p

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Experts Opinions

Direct tax

If loan taken for purchase of plant and machinery for business purpouse then interest paid on that loan can added to the cost of plant

Direct tax

Salary received by a working partner covered under partnership deed from his own firm then in such case the salary is taxable to partner under which head of income

Ca final indirect tax

Friends whether we can omit common topics if we do prepare excise custom and ser tax along with case law from bangar in good manner However I will prepare for case law in all aspects including common topic s Plz suggest if not whole then which selected part I should cover in common topics study

Notice for air

I rec d notice Regarding my deposit on saving bank account above RS 100000 in that situation how I present my case before ITO pls anyone if he faced the same situation suggest me

Excess service tax paid

Hi As per a contract total consultancy fees were inclusive of service tax but I mistakenly considered it as exclusive of service tax and paid excess service tax to the government for entire year Can I adjust that excess amount paid against service tax to be paid in this quarter Thanks in Advance


Income from speculative trade

Hello I have taken VRS from my company two years back Now I do not have any salary income I do pay for the House loan EMI I have small income from interests in saving bank accounts and dividend from long term share holding Recently I have started trading in stock exchange This includes Stocks future

Service tax applicability on retainership paid to ex employe

an employee of the company after retirement is apponted as consultant and paid monthly retainership he is also an authorised signatory for the company for signing cheques etc he is looking after the commercial function of the company ans is attending the office on full time basis service tax is appl

Income tax

My son has got PAN card However he is an NRI now and has not come to India since 2 years In case he sells his property and like to file return how to go about since AAdhar card is compulsorily for filing the return

Income tax

My son has got PAN card However he is an NRI now and has not come to India since 2 years In case he sells his property and like to file return how to go about since AAdhar card is compulsorily for filing the return

Stock details to income tax


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GST Impact on last Service Tax Return ST-03

GST the dream of Central Government will finally come true as GST Council has granted approval to CGST IGST SGST UTGST and Compensation law and these laws have been approved by the cabinet So once again GST will become a matter of discussion for all industries However we should not forget that next

How to tackle CA IPCC Taxation?

Hello IPCCians Be not afraid of anything you will do marvellous work Have belief in yourself I will be sharing here how to face the subject and how to prepare for your exam First of all I would like to say that tax is a high scoring subject and you can get above 60 with a well prepared strategy I ha

Service tax under Reverse Charge Mechanism on Goods Transport Agency (GTA)

Goods Transport Agency GTA means any person who provides service in relation to transport of goods by road and issues consignment note by whatever name called Generally service tax is payable by the provider of Service However in Reverse Charge Mechanism Service Receiver is made liable to pay servic

Input Tax Credit under GST

In the Current Tax Regime Various conditions are applicable for availing input tax credit A brief overview is given below VAT As a VAT dealer you can avail credit of VAT paid on goods purchase in course of business for re sale or for manufacture of goods subject to some conditions Only purchase made

10 Common Mistakes People make when filing Income Tax Returns

The season of filing of tax return is here This year all those who have taxable income are required to file their return Also those with income above Rs five lakhs have to compulsorily e file their return It s very important to file error free Income Tax Return to avoid future problems Let s see the

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Updated on : 3/25/2017 10:05:15 PM

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