One of my friend sold a site purchased by him 10 years ago.He purchased another site with the sale proceeds. After indexation of cost his ltcg showed negative amount. Both the transactions were below 30 lac.The same was reported in his ITR. but now a demand is raised for ltcg tax of 352000.

I have received a Notice from IT Department for non filing of income tax return for the Assessment year 2013-2014 and furnish response to complaiance Moudule on the e filing portal. I have audited My book of accounts for the above said year but not file the return. Can I file the return under section 142(1) of the income tax act.

I'm running an online business(websites) and I'm getting income from US/UK online marketing companies. I'm getting payments through PayPal as well as direct remittance to my SB account. My income comes under presumptive business(44AD).

Now I have a doubt, whether my income should be considered as foreign income? As per AY2015-16 ITR4S eligibility terms, (Sugam) cannot be filed by individual who has earned any income from source outside India.

This article written by a CA says the income from Google Adsense is not foreign income: http://www.moneycontrol.com/news/tax/understanding-foreign-incomea-resident-tax-payer_2571021.html

So, I got confused. ITR4 or ITR4s?

hello experts I want to know if the e- verification facility is only for those asessees who have gross total income below 5 lacs & no refund means if the person is having refund he need to send ITR- V by post only pls clarify

Dear sir
Last year my friend filed income tax return through online via private site.
Now I tried to Login the same, but unable reset the password. It says that no such user ID, then I tried to Register and it says that This ID is already Registered!!
Please provide any solution..

Hello,

Does the contribution made by Central Government or other employer needs to be added to the income of the assessee before allowing deduction or not.

If yes, then how can we call it a deduction?
I mean, first we are adding it and then subtracting it.....it becomes neutral.


Thanks..

My client filed appeal and stay application before the CIT (Appeals) against the Assessment Order which was high pitched.CIT (A) dismissed the petition without granting stay. Appeal is yet to be heard. Is it proper to approach ITAT against the order of CIT (Appeals), for stay of recovery of demand or what is other remedy? In other words, is it possible to file Stay petition before ITAT when the appeal is pending with CIT (Appeals)?
Please advise quoting relevant provisions in the law or case law, if any.

Dear Sirs,

I have used recent (Downloaded today) both the ITR4 filling utilities namely Excel and JAVA.

with identical data being filled in respective filled the out come and tax calculations are different.
With Excel utility Refund is shown against TDS of Rs 4000.
With JAVA Utility TAx liability is 28108 plus Penal interest totaling Rs 30181.

Anybody aware of the ambiguity, what n individual shall do in this case.

Thanks

Dear Experts,

We have filed the IT return on or before due date for the FY 2011-12 & 2012-13, but Our company was not adjusted the TDS which is deducted by our customer for the both the FY 11-12 & 12-13 due to the deduction was not reflected in 26AS, our CA suggested & filed return with no credit/adjustment the tax, later customer have filed the TDS return & issued the Form-16A, so my query is

1. can we apply for refund the tax due to late filling of TDS return by the deductor?

2. If we can apply What is the time period for it?

Please clear the query as soon as possible.

Thanks in advance

Warm Regards

Shankar

Dear Sir

can I file ITR f.y 2013-14

there is no refund or tax liability.

sagar