Did not add savings bank interest while filing IT return for FY, 14-15,
If I submit a revised return with Savings Bank interest added now, will there be penalty, if yes how much.
if there is some tax liability after adding the savings bank interest after deduction of 10000 on account to 80TTA, If I pay the remaining tax , what other penalties would be there apart from interest on account of 234A
I have private limited co, after 3 years dont started any business activity, and all exp chargeed to preoperative and preliminary exp under the head other current assets...they filed nil return till last previous year,...my question is whether it is possible to charge all preliminary and preooerative exp in profit and loss account and book as loss eventhough my business activity not started till this year also...what is tax treatment
Answer nowMy clients while paying TDS on immovable property erroneously entered agreement value of purchase of property instead of respective share of ownership. Case is assigned to ITO(TDS) for correction in amount. Now the officer is asking for previous years returns, proof of ownership ratio (which is never mentioned in the agreement) etc. My question is whether ITO(TDS) has rights to scrutinize the case this way? What are the rights to ITO(TDS)?
Answer nowCan an individual file ITR for F/Y 2013-14 now through any means?
Answer nowfor uae resident as per article 13 of the dtaa between India and UAE.capital gain from the sale of mutual funds are taxable in the UAE. but in UAE nothing of such income taxable. so ultimately it is an exempted gain. so how can I claim it in my return?
Answer nowhow much amount can I keep in my saving account.. Any tax on it
Answer nowkindly advice how much tds will cut on rented commercial property @35000/month and if no other taxable income than above, how much tax to be paid.kindly explain how much tax will ne refund. thanks in advance.
Answer now
I M HAVE MONEY LENDING LICENSE I M LENDNG LOAN WITH 200 % COLLETRAL SECURITY.
I H AVE GRANT LOAN OF Rs. 100000 LOAN AGAINST GOLD OF Rs. 200000 WITH INT OF 4% P.M .
AND IF ANY DEFALUT TAKES PLACE THEN BORRWER HAS TO PAY Rs 200 PER DAY FINE IN CASEOF DELAY OF INT PAID IF ANY.
HE NOT PAID ME 6 MONTHS INT. AND IN THE AGREEMENT IT IS SPECIFICALLY MENTIONED THAT IF HE FAIL TO PAY THE PRINCIPAL OR INT THEN LENDER HAVE FULL RIGHT TO SALE THE GOLD AND RECOVER ALL THE AMOUNTS .
PLS SUGGEST ME ACCOUNTING TREATMENT AND TAX TREAMENT FOR THE SAME.
ALL SALE OF GOLD I HAVE NOT PAID SINGLE OF RUPEE TO BORROWER..
dear sir is it possible to file a return of A.Y. 2014-15 now in any way?
Answer nowAs per the new Definition of Income clause inserted w.e.f. 1.4.16
2 (24) (xviii) assistance in the form of a subsidy or grant or cash incentive or duty drawback or waiver or concession or reimbursement (by whatever name called) by the Central Government or a State Government or any authority or body or agency in cash or kind to the assessee other than the subsidy or grant or reimbursement which is taken into account for determination of the actual cost of the asset in accordance with the provisions of Explanation 10 to clause (1) of section 43;
So whether LPG subsidy received from Gov. directly to the bank account is taxable?
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
Savings bank interest