Dear Sir,
An assesse has invested in PPF for Rs. 1.50 Lac and also invested in Sukanya Samriddhi account of Rs. 1.50 Lac for his girl child for the F.Y. 2015-16 relevant to a.Y. 2016-17. My question is whether he will be get deduction u/s. 80C of Rs. 3.00 Lac or Rs. 1.50 Lac.

Thanks,
Abhishek.

Hello, If one have filed ITR-4 for AY 2013-14, and ITR-4S for AY 2014-15, now he want to file ITR-4 for AY 2015-16, Can he do so? or is there any problem? pls help

Dear Sir,
In AY 2015-16 my return is under process and from the month of Dec. 2015 to till date, cpc call centre keep telling me to wait till the process gets completed. Now the Feb. 2016 is almost passed. Why are they taking so much time to process the return?

Please advice me.
Thanks.

Sir,A painter who sells his paintings through public exhibitions should be treated as a businessman or professional for tax audit purpose??

The notice has been served to a partnership firm whose Itr 5, showing income from 44AD has been filed. The assesse is a no books case, hence we properly filled the details of cash balance in no books head. In response to it, we have made B/S & P&l has duly filed it. But the notice has again been served. Can anyone tell the response to it?

My client is cooperative patsanstha. Its profit as per p&l account is 360987. It invested some amount with co-operative bank and some amount in nationalised bank as fixed deposit. It received interest of rs. 150000 from those deposits ( rs. 100000 from nationalised bank and rs. 50000 from co operative bank. Please guide what is the treatment of this interest while computing deduction u/s 80P

I filled tds return of 24Q Q_4 FY 15-16, in which I quoted 4 challans correctly. CPC raised demand against an unmatched challan after return processed. When I gone through justification report I found the challan details were totally correct which I feeded in tds return, the confirmation now has been very strong when I cross verified unmatched challan on Oltas. I have few points which I want to know.
1) Why CPC has given demand for unmatched challan, when in that case challan details was totally correct in tds filling return.
2) I went for online correction through traces & tried to tag challan. I found there were the option of two financial years 15-16 & 14-15, but in both the years, the unmatched challans were not showing. Why?
3) When I traced unmatched amount of challan through CIN. I found it is matched but challan's year is changed from FY 15-16 to FY 13-14. And challan is in my hand, FY 15-16 is printed here.. In that case can mistakes be done through Bank?
Please advice me for above issues.

is tds to be deducted in case of payment to govt...????

If Employer (Company) paid such amount to Employee as loan without interest , and employee paid some rupess deducted on his salary so this loan amount should count in advance of salary , if yes so and of the year we calculate his salary + loan = and deducted TDS ?
Example:

A Yearly Salary :2,50,000
Loan without Interest :50,000 ( monthly Paid via Salary of Rs.5000/=)

So His Total Income 2,50,000 or 3,00,000
Reply Urgent

will the finance act of 2016 be applicable on income earned during the F.Y. 2015-16 or the income that will be earned during F.Y.2016-17? That is, does the finance act give rates for the past earned income or the one that would be earned in the new financial year ?