Hi Everyone…

My friend is in doing business of purchase of Car and gives it to rent to someone for which he receives rent of Rs. 40000/- p.m. And he does not maintain books of account for hiring of car. He hire currently 3 cars on rental basis.
My Query is:-

1.) In which head income received from hiring of car is taxable.
2.) Which ITR should be filed ? He does not maintain books of accounts.

Please answer the Query…..

hello sir/ma'am, I have completed my MBA. I am working in a company as a Management Trainee and my salary is 5,50,000. TDS will be applicable to my salary or not? and if yes then how much ?

is 44ab applicable to corporate bodies like companies?
just tell me yes or no.

Is the turnover limit for business made 2 crores from AY 2017-18 or AY 2018-19?(For s 44 AD) Are all amendments are applicable From 1/4/2017 only?(S 44AD? The limit of Turnover for S 44AB is 1 crore or 2 Crores For AY 2017-18(Fina. Yr 2016-17). Is the turnover limit for SSI unit will be increased from 1.5 Crores to 2 Crores? Is advance tax for 44AD applicable for Financial Year 2016-17?

my friend sold his house in April for 1.8 crore. his share is 33%. can he avail tax benifit. aquisatiin period is 1983. sold year 2016. improvements cost is. 4 lakh (2015). so please suggest some tax savings plans just like capital gain scheme.

Dear Sir,

I paid 2 lakh to my father one year before as there was some operation he had to undergo and he needed the money, so I transferred that to his account, After one year he returned that money to me. There was no interest that he paid me. I paid him 2 lakh and after one year he returned 2 lakh.

I did not show this amount in my ITR. my fathers passbook shows that the amount he received from me and my bank passbook shows that I received the same amount from him. So If my return is selected for scrutiny, will I have to pay any tax or penalty. This is not a income so I did not show it in ITR. was it wrong on my part not to show this in ITR?

Please advice. .

Dear sir/Madam

Our company purchase velvet pouch,coin poche small for gold and diamond jewellery packing purchase in that amount we deduction tds or not

Hello Experts, A bank deducts TDS on FD interest but the deductee has not submitted his PAN to bank so it is not reflecting in his 26AS. The bank has issued form 16A to deductee. Now if the deductee files his return on the base of form 16A, will he be able to get refund.

I want to know the latest information on filing of AIR. Whether filing it on a cd with Tin centre is discontinued.

Dear sir , please explain TCS 1% on sale of motor vehicle exceeding 10 lakhs. my query is sale consideration inclusive of vehicle invoice cost , road tax , insurance , accessories etc total consideration or can I take only vehicle invoice price only. please clarify.