Hi there...I filed income tax returns form ITR-4 for AY of 2017-18 on 14th June. Its been almost three months now, but it has not processed yet. It shows only received by the department when see it online. I just wanna know how much time it will take to get refund. When i can expect the dispatched refund..

Thanks a lot ...

Hi Everyone,

Can we submit AY 2016-17 & AY 2015-2016 IT return through manual or e-filling.

I need to file ITR for the purpose of housing loan

Please help me regarding this

Regards
Shashi

Dear Experts.
In FY 2016-17 our turnover is below 1 crore also Net profit is below 8% pls clarify :- in this scenario whether tax audit will be applicable or not considering the proprietary concern?

Thanks
Mukesh kumar

DEAR SIR , IF SOMEONE DEPOSITE D CASH IN BANK EARN FROM BUSINESS RS 80LAC DURING FINANCIAL YEAR , ACTUAL PROFIT IS 60-70 %, CAN HE DECLARE PROFIT 8% US 44AD, ALSO HAVING DEBTORS APPOX 20-25 LACS KINDLY GIVE YOUR VALUABLE SUGGESTION

Dear experts, if person receiving salary by working in shop and his employer not issued form 16 then is it any problem occured after filling for mismatch?

Can we E-verify the Firm ITR with partner Aadhar card....?

Experts, I have got my Form 16 in which Employer Contribution to NPS has NOT been added in ToTAL INCOME , but exemption under 80CCD (2) has been claimed. Refund has been received from Income Tax department. Now, what I do: 1) Shall I revise my return and Include such Contribution in Total income and pay tax. OR 2) Do Nothing please advise

if service tax payable upto 31/3/3017 is not paid upto due date of tax audit, wt will be reporting requirment and is any addition be there into income also?

Dear Experts

I filled tds return for Q 1 2017-2018. One challan of Rs. 94,500 represent the following transaction

Transaction value 945000
Service tax 141750
Total bill 1086750
Less: TDS 94500 (only on transaction value)
Paid 992250
But at the time of filling the return against challan of Rs. 94500 transaction value is inserted as Rs. 1086750 (it should be 94500)
Now by default demand is Rs.14175
How to rectify it.

Thanks a lot

Dear Sir,

We need your precious help. An ancestral 6 storey building. It has been shown in the balance sheet of Private Limited Company (Trading Company) since 1960. The Private Limited Company has been availing depreciation for the same building in every year. Being an old and ancestral building, it does not have any record like date of purchase, value of purchase etc. In a word, there is no document which shows its present value as well as past value. The building is situated in Kolkata and its document of Corporation Tax is there. Whereas, tenants are there and rent and maintenance charges, collected from the tenants, are being shown as ‘Income from House Property’ in company’s P & L A/c.
Now, the matter of concentration is that in the Financial Year 2016-2017, a portion of a floor of this 6 storey building has been sold out near to rupees 1.05 crore. As, yearly depreciation has already been taken, the sale can’t claim the privilege of ‘Capital Gain’. So, if the sale amount is directly taken at the credit side of ‘Profit & Loss Account’ as an Income, then the Payable Income Tax Amount is becoming near about 30 Lakh which is quite a heavy amount for a Private Limited Company whose turn- over is 8 Crore. Further to say that in the same year a repairing expense near about Rs.50 Lakh is incurred in order to repair another floors. Can this expenses be adjusted with the above mentioned sale amount subtracting directly from total sale amount or putting the expenses at the debit side of P & L A/c ? So, please advise mentioning the ways how can we reduce the amount of Tax.

Regards,
Subhadip Acharya