If the payer has deducted TDS before paying to us, and before due date of return has not deposit the same with government, what is remedy available for me, as it wouldn't appear in my 26AS
Answer nowFor income tax purposes, the house means: a) godown or storage b) dwelling house c) building for office use d) all the three are included in house.
Answer nowWhether payment for capital asset exceeding made in cash than depreciation on the same will be disallowed?
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if i paid income tax rs 76000 for the year 2014-15 on 30/10/15 and i forget to deduct same from p &l a/c so can i place this entry for the 2015-16 p.y as expenses
Answer nowAO served a notice u/s 147 date on 31/03/2015 for Asst Yr 2008-09 and Assessment date 14/10/2015 vide Income u/s 44AD Rs. 116818/- and Addition Rs.165000/- of Cash Deposit in bank A/c say AO is not Saving Income. Arise demand of Rs. 3400/- (Tax 36052-TDS32653)
now u/s 271(1)C Assessment order date 14/06/2016 Demand Rs.34552/- but TDS is already have then Penalty is Correct?
And 271F Demand Rs.5000/- is Correct if TDS already ?
What can do step? pls suggest me. Thanks
Do NRI's eligible for basic exemption limit?
Answer nowHusband & Wife jointly purchased under-construction property from a very reputed builder in Bre. The buyers are to deduct 1 % TDS from the sale value for every payment made.The builder got us to sign in the purchase agreement that he will file the TDS on our behalf,which is a usual practice followed by big time builders. As per IT rules, TDS on the installments have to be remitted by each of the joint buyers for 50 % of the installment value. Unfortunately the builder deducted full TDS from the 1st named buyer only, with out consulting us, may be for his own convenience. This is clearly against IT rules in force,although full money due to govt has been remitted. If the mistake is not corrected, ITOs may issue us notices and harass us. Cancelling the challans,obtaining refunds and refiling with penalty,interest,fine etc could cost us heavily. Is there any way of rectifying this mistake ? Can some Tax lawyer/ practitioner undertakes this task for us ?
Answer nowsir an assesse file itr 4s with income of rs 250000 to 300000 in earlier A.Y s and he take a loan for its bussines and now in current P.Y his business is not doing well nd he is not earned well and he wants to file his itr with lower income earned. please Help me whether it is possible md if possible then what are consequence 's as per income tax nd bank ?
Answer nowWith new amendment subsection (1D) whether Tcs is applicable if Buyer uses goods for self consumption ?
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TDS deposit