Dear sir,

My client has earned profit of Rs. 673567/- in F.Y. 2013-14 but due to differance in depreciation as per Book & IT Loss of Rs 722271/- is incured . The client is a Company. In F.Y. 2014-15 client has incured profit of Rs.442556/- & Depreciation as per Book & IT is RS.1000000/- & Rs.1849815/- respectively. Will you please explain how to calculate tax as per IT & Sec. 115JB?????


Thanks in Advance

Dear Experts,

one of my client being a lady has owned a residential house property since 2005.She is regular I.T.Assesse.During F.Y.2013-14 for which a return is to filed now prior to 31/03/2015. She has sold the said house in June,2013 & purchased another residential house property in April,2013.The investment in new house property from means of unsecured loans from relatives which is exceeding the sales proceeds from the sale of old house property likely to be sold in June,2013. Thereafter she has paid the said unsecured loans from the sales proceeds on sale of old house property during the same year.

Now query is as whether she can claim a deduction under section 54 of I.t act to avoid long term capital gain on sale of house property as she invested entire sales consideration in purchase of another new house property to claim the benefit of section 54 or not

Please reply at the soonest to enable file the income return prior to 31/03/2015.

Thanks in advance for prompt reply.

Hello Everyone !

Please answer my below question:

Can the partner's salary be enhanced under section 40b if the profits of the partnership firm increased during assessment?

If in the opening Balance Sheet The Provision of Income Tax is Rs.15000/- and at Present after self assessment i have Paid Rs. 17000/-
what should be the accounting entry should i pass in Tally.

dear sir,

one of my client is medical officer, he has obtained housing loan from the bank. the housing loan status is a joint loan account. my client and his mother in law(wife's mother). his mother in law is housewife and seniour citizen.
now my query is my client can claim full interest deductions u/s 24 and principal amount u/s 80c.

please suggest me

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