Sir,

I have filed the return of my partnership firm U/s 44 AD declaring income @ 8% on Gross Turnover. still i received Notice U/s 139(9) of Income tax Act, 1961 ERROR CODE: 31 asking fro Balance sheet & Profit and Loss A/c..
when i called on the toll free number provided on notice... the operators of CPC told me that you have to state reason for not maintaining profit & loss a/c & balance sheet...

Kindly help its urgent as i have to reply within fifteen days i received the mail on 13/05/2015

Dear Expert

While purchasing a property more than 50 lakhs, I by mistake made the full payment to the seller. I deposited the TDS amount on my own after few months as the seller is not ready to refund the tax portion and he is not ready for any deduction.

After making the payment on my own, i filed Form 26QB. However i have receieved a demand notice for Rs 1 lakh for delay in filing form 26QB. TDS was borne by me which was already a burden, should i pay the penalty also.

Please help what should be done now.

hi. my income tax liability for p.y.2016-17 is nil. however my employer has wrongly deducted & deposit of TDS on salary of rs 900 from the salary of April 16 paid in may 16. what is the remedy for me? is refund possible from employer.??? can it be rectified in next month or quarterely TDs return ??

Dear all, I am sold my house for RS.20lakhs and my brother have one house it is old. we decided to demolish my brother house and construct new one.my question is that 20lakhs can be able to claim as exception in capital gain?

There is a charitable cum religious Society registered under societies Act 1860, (say A). It has paid advance for purchase of land for a charitable project. Now the project cost is going out of budget to Society (A). There is another Charitable cum religious trust (B) approached to Society (A) to take over the project. Trust (B) will buy the same land for which Society (A) has paid advance. Both the trusts and the Society are registered under 12A. Now, Society (A), is willing to forego the advance money as donation to trust (B).
What will be the implications from Tax point of view and the societies Act 1860.

Dear xpert please tell me when TDs applicable on individual salary Thanks

A proprietor concern having turnover of around Rs. 61.00 Lacs in F.Y. 2015-16 with NP below 8%. Should it gets his accounts audited & deduct TDS u/s 94A, 92B, 94C, 94-J etc. or applicable only on 92B. Please clear the same.

Regards,

Rakesh Sharma

Dear Experts,
We are proprietorship firm and assessment
For FY 2014-15 has been done also the
Intimation u/s 143(1) has been received
please tell me how long i will have to
keep the account safely of FY 2014-15,
Till 5 year or forever,

Regard
Anil mishra

Hello Sir,
I have taken a home loan of 30 lakh from Hdfc bank in April 2016.
The property is under construction and the possession will be given by the builder in March 2017.
The first disbursement of Rs. 1820625 was dome to the builder in April and I have started paying the EMI of Rs. 19012.
The disbursements of balance loan amount will be done quaterly starting from July 2017.

Currently I am staying in rent of Rs. 8000 per month.

Can I declare both, the rent and home loan EMI interest in the investment declaration for FY 2016-17 and take the tax benefit?
Or is it that I can only claim the home loan benefit after getting the possession?
Please advice as I have already started paying home loan EMIs.
Our finance is saying that I can take the home loan benefit after taking the possession only.

Whether income from temporary Professional Job Contract is to be treated as Income from Other Sources specially when the assesse has separate Salary Income!