a salaried assessee has bought a property for 60 lacs in a metro city n also dedicated 1% of the cost n paid to govt.........now after this whether his form 16 to be issued will be effected by this transaction???? And how he has to report this transaction in his return to be filled.....??? please suggest in this situation, thanks!!!

what should I give the reason in the response of 139(9) if I wrongly filed a return in ITR4 with the option of maintenance of books but in actual m not maintaining books of accounts, therefore, i have not filled the balance sheet item and uploaded a return with P&L items only, the result is I received notice u/s 139(9). Can I give the reason the assessee not maintaining books of accounts with the option of return is not a defective return? Please guide on this notice response

In what format we are supposed to answer case laws based questions in DT?? Thanks & regards Nirdesh Singh

Dear SIr,
We have sold a factory building in financial year 2016-17 was purchased in f.y 1999-2000 and from f.y 1999-2000 up to f.y 2015-16 depreciation was claimed in profit & loss Account Please clarify that the income at the time of sale will be taxable under business income or capital gain.

if an employee receives 3000 yearly as education allowance fir 3 children then waht amount is taxable?

A Physiotherapist filed his Original return for AY 2014-15 on 13/03/2016, that is Belated ofcourse, claiming refund of Rs 390/-. The same was processed by CPC and the intimation U/s 143(1), was sent on 24/08/2016. It was found that the Deduction of Rs 6817/- relating to Savings Bank Interest U/s 80TTA, (Known to the mass that, deduction U/s 80TTA is available up to Rs 10000/- w.e.f. AY 2013-14), was not at all considered in the assessment and additional demand of Rs 450/- was raised in the same. When i was filing the rectification U/s 154 over the Efiling Portal, i could see that it was asking to upload the rectified XML version of the ITR.
My confusion is:
1. The return was already filed belated, how can it be revised and XML could be generated?
2. What if i upload the XML of the original return? will the rectification request be suspended?
3. The mistake is not from the taxpayer side by not showing the deduction beyond Rs 10000/-, but it is apparent from the assessment/intimation U/s 143(1) that it has ignored the same., what can be done for removing this demand? Please help to come out of this dilemma.

can i file it return from the at 2013-14 to 2016-17, tax audit report also. pls suggest for solution

a proprietor have wdv of car as on 31.3.2015 is Rs.134854.3 and during the year 2015-16 he exchange the old car for Rs.115000 and purchase new car total amounted Rs.1057517(including exchange value).what should be the depreciation to be accounted as per income tax act ? and further what should be the accounting entry for the loss on sale of car?

Plz let me know, whether tds is applicable on the following case:

Transporter has more than 10 vehicles, no declaration received from the transporter:

Date of Documents :- 25/05/2015
Date of Posting in the books:- 05/06/2015

OUR CLIENT IS RENDERING MAINTENANCE WORK FOR A SOFTWARE COMPANY. HE HAS RECEIVED NET PAYMENTS OF MAINTENANCE WORK AFTER DEDUCTION OF TDS. THE COMPANY HAS NOT GIVEN HIM FORM 16A. THE TAX DEDUCTED AT SOURCE ON THE PAYMENTS MADE TOWARDS MAINTENANCE CONTRACT FOR THE FINANCIAL YEARS 2013-14,2014-15 AND 2015-16 HAVE NOT APPEARED IN 26AS. HE COULD NOT FILE THE INCOMETAX RETURN FROM FINANCIAL YEARS 2013-14,2014-15 AND 2015-16 DUE TO NON AVAIALABILTY OF FORMS 16AS AND DUE TO NON AVAILABILTY OF TDS DEDUCTIONS DETAILS. HE WANTED TO AVAIL LOAN FROM BANK. THE BANKERS ARE ASKING MY CLIENT TO FURNISH THE INCOMETAX RETURNS FOR THE FINANCIAL YEARS 2013-14,2014-15 AND 2015-16. CAN WE FILE INCOMETAX RETURNS FOR THE FINANCIAL YEARS 2013-14 AND 2014-15 NOW? WHAT IS THE PROCEDURE? KINDLY CLARIFY IMMEDIATELY.