Dear Experts,

Mr Y has entered into an agreement of sale on 2nd March 2015 and received advance of Rs 1 crore. Total sales value is 8 crore

the question is whether this 1crore is liable to tax in the FY 2014-15?? whether there is any capital gain?? if there is any case law dealing such situation ???

One of our client had filed return for FY 2005-06 when everything was manual. The return showed Tax refundable. But refund did not took place. Is it possible to claim refund of such year? and if yes, please tell me the procedure. Also, my second doubt is.. if we are to get refund and we are filing return for subsequent year then can we set off granted refund for first year against tax payable for such subsequent year? or cannot be setoff?

DEAR EXPERT,

A COMPANY (LIMITED COMPANY) RECEIVES CERTAIN SERVICE FROM AN INDIVIDUAL. THE COMPANY PAYS AMOUNT TO THE INDIVIDUAL FORTNIGHTLY BASIS. FOR SERVICES PERFORMED FROM 1ST JUNE TO 15TH JUNE, INDIVIDUAL ISSUES INVOICE ON 15TH JUNE AND COMPANIES PAY TO INDIVIDUAL ON 16TH JUNE AFTER DEDUCTING TDS. FOR SERVICES RENDERED FROM 16TH JUNE TO 30TH JUNE, INDIVIDUAL ISSUES INVOICE ON 30TH JUNE AND COMPANIES PAYS TO INDIVIDUAL ON 1ST JULY AFTER DEDUCTING TDS.

MY QUERIES IS

1) WITH REGARD TO PAYMENT OF AMOUNT PERTAINING TO THE PERIOD 16TH TO 30TH (COMPANY PAYS ON 1ST) WHEN THE COMPANY HAS TO REMIT TO GOVERNMENT
A) ON 7TH JULY B) ON 7TH AUGUST?

2) WHETHER RETURN HAS TO FILED IN 1ST QUARTER OR ON 2ND QUARTER?

THANK YOU IN ADVANCE.

One of professional service provider has raised bill of Rs.5 lacs.
We have to deduct Rs.2 lac (against previous bill already paid after deducting tds of Rs.20000, the same was related to other service which was not properly provided as per agreement & not pertaining to Rs.5 lac bill as above)

So, net payment will be Rs.3 lacs
whether tds is deductible on Rs.5 lac or Rs.3 lac ?

Flats booked via Builder falls within the purview of construction. Hence, timelimit of 3 years after date of transfer is applicable. Please clarify if letter of allotement is received before date of transfer and possession is sought to be received within prescribed 3 years will the exemption u/s 54 shall be available ?

hai
its seen in e tutorial that "Digital Signatures are not mandatory in challan correction" but when i progress with online challan correction its asking for digital signature. how to solve this prblm??

Thank you

My current rent of office is ₹ 37260
I am paying ₹ 33534 after deducting TDS 10%
for the month of april i paid rent in may
then what is my interest rate for TDS of ₹ 3726. will it be for two month or one month

what is depreciation rate on dummies in garment trading

I would like to know what will be the tax implications for this-


Excess Salary for Amounting to Rs.18000 for the year 2013-2014 has been recovered in the month may 2015 by the employer.Tax on the total Income including the amount of Rs. 18000 has already been paid.

Now,Can i revise the return by showing less salary income ,that is, subtracting 18000 from the total salary amount?.If so,whether i will get the refund for the difference amount.and whether i will receive any Notice or intimation from the tax authorities?

PLS HELP HOW TO DO
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I HAVE CONTACTED BANK BUT NO RESPONCE WAS GIVEN AND SAID THAT CONTACT ITO.