Sir,
My relative has been received a notice from income tax department about excess cash credits in savings account and ask him to submit the response through efiling under compliance tab.

While submitting the response selected wrong option, and rectified the same within 45minutes.

Now my doubt is which one would be selected by the income tax officials as a response.

Either revised one or original one.

Please clarify my doubt and guided about this situation.

Thank you.

Dear Sir,

Assessee became owner of Residential Property which is taken on Lease for 54 Years (From 1950 to 2004) from Bombay Municipal Corporation (BMC). Now BMC transfers ownership in favour of Assessee few years back.

And Later Assessee transfer the right for Redevelopment in favour of Builder. Builder will pay 1 New Flat and Some Monetary consideration for it.

Now what shall be the cost of asset for Assessee while determining LTCG for Monetary Value received ?

Market Value as on 01.04.1981 can be considered as Cost of the asset for Indexation purpose ?

Thanking You in Advance.

Dear Experts,

our company have a xerox machine for rental basis. Every month we are paying the rent and deduct the TDS . Here , i have attached the calculation, whether deduction of TDS is correct or not. pl. clarify.

TAX INVOICE
Printing Charges - 11400
(75% of material consumption on 11400 = 8550)
(70% Labour charges on 11400 = 7980 )

Printing charges = 11400
Vat 5.5 % =470.25
Service Tax14.5 = 1157.10
Total =13027
TDS 2% on (11400+470.25 ) = Rs.238.
Making Payment ( 13027-238 ) Rs.12789.

TDS of Rs.238 , is correct or not ? Pl. help & give a clear clarification

For AY 2015-16 a return was filed ITR 4 where Salary income and speculation loss was claimed. The speculation loss comprises of intra day share loss of Rs. 6000. The same is shown in ITR as speculation loss to be carried forward.
Return was filed in time.

Now, Department issued a notice of defective return stating that since loss is claimed in profit and loss from busienss profession, audit report to be submitted or profit more that 8% to be declared.

What should be done in this case as in my opinion its not a business but intra day loss but as per provisions to be claimed as speculation loss.

under which head income from space given for hoarding/advertisement on the top of the building are taxable and what about tds on that

any possible to claim in sale of more than one long term capital asset (land and building) and purchase of new residencial house property ... as your reply quick as possible

in calculation of relief whether. 1.deductions of 80c could be apportioned/taken as lumpsum saving n currnt yr. 2.wage cut be apportioned. 3.Hra relief be made revised each yr. Also which items in arrears to be apportiond.

is required to deduct tds on certification charges

where the firm can claim donation ? as expense or as u/s 80g ?
what is the limit of donation if we claim it as expence & also under sec 80g .what is beneficial for the firm???????

is it valid for director to deposit cash in current a/c of company ?? Is there any Limit for depositing cash ?
If Deposited cash in current a/c of pvt ltd., what can be the consequences, as per IT Act., 1961 or Comapny Law 2013 ??