Dear Members,

We have a client who has recently converted from Partnership Firm to LLP.

Would like to get an opinion on whether we would require to make a fresh application for PAN Card ?

Would appreciate if you could give me the references (Section) on your opinion.

Regards

I have filed income tax return for Assessment Year 2014 - 15 on 26-02-2015 and send copy of acknowledgement (ITR V) at CPC Bangalore on 11-03-2015 status shows as on today "Return Uploaded ".

The assessee has claimed refund.

And the bank account details (IFSC,MICR)account has been closed and shown by mistake.

Now when I did rectification, it asked for
Latest Communication Reference Number. Without receipt or assessment that communication reference can't mention.

How to change bank details in the ITR to get refund ?

Can the return be revised (for A. Y. 2014-15) ?

Instead of paying advance tax for A.Y 2015-16, one pays advance tax for A.Y 2014-15 by mistake.

1) Can one Revise IT Return for A.Y 2014-15 & claim refund of advance tax?
2) What is the other remedy?

I am an individual, my income is below 20 lakhs. But I made a payment of marketing commission to various sales agents towards mobilizing clients. I am not deducted any tax since my income/turnover is not more than that limit which is mentioned in provision. But some of my friends raise a question and told that it was wrong, you should deduct TDS on payment which are making under category of commission. Anybody had clear view, please suggest, whether I am liable to deduct TAX. (Note: 3 agents got commission more than 50000 each)thanks in advance to all experts.

A Husband has created FD in the name of wife and bank has deducted TDS on interest received from FD in the name or PAN of Wife.

Now my question is that
1. Whether husband can claim TDS Credit, as income would be clubbed in the husband income. or he has to file return of his wife for refund of TDS (wife has no other income)
2. If husband can claim TDS, where he shows the TDS deducted in the name of wife in ITR Form

dear sir,

my client doing granite trading business, i have filed income tax returns presumptive income u/s 44AD declared profit 5,53,691.00 total turnover about 69,21,130.00. deduction of remuneration and interest claimed 5,27,122.00 remaining profit of 26,569.00 and paid income tax 8210.00 including cess.

my query is i have received notice from CPC centre, as defective return u/s 139(9) and they have quoted some points,
1. assesse claiming expenses equal to the busines income.
so my profit calculations is wrong or correct. please solve my problem and what i have to do next step.

i am waiting for your good reply

regards,

raghavendra

Payer is an individual making payments above the exemption threshhold to a contractor which is a sole proprietory concern. the payment was to construct a residential bungalow for personal residential use. would he be exempt from deducting TDS while making paymemts?

Separately, if the payer is a company with no current turnover, paying to a proprietory concern, would it be required to deduct TDS while making paymemts?

sir,
One of my client purchased flat from builder directly in 2009 and continued to pay installment since then till the year 2014 and the property was finally registered in the year 2014 in his name,but agreement to purchase was entered in 2009. Now he wants to sell the flat. I want to know what will be the holding period of this flat for computation of capital gains and can he take benefit of sec 54.

My client has purchased an immovable property. As per the purchase agreement, he can use the said property only against full payment towards the said property.
Due to financial issues, only part payment has been made and the rest of the amount has been treated as loan. My client has already started using the aforesaid property.
The officer in his Audit observations has observed this amount as unaccounted investments u/s 69.
Kindly help with case law favouring my client.

In 2005, If a person had done some wooden furniture work worth Rs 50,000(includes material and labour charges for bed and wardrobe)in his new home, got possession in the same year.

Can he use that furniture cost as deduction under indexed improvement cost at the time of selling the house in 2014? House sold as furnished home.