dear all payment made to contractor for rs. 50000 in cash is allowable or not? its urgent pls. thanks

Dear all
My client applied for pan 2 times and he got 2 pans, now he wants to surrender new pan ,so please suggest me draft letter for surrender of PAN card to IT Dept.

I have a FD for for 5 years. I will get ineterest on maturity, per year interest less than 10000 but on maturity its more than 10000. Will TDS applicable on maturity?

if yes so can I ask to bank to give me interest every year?

Neeraj

Income Tax Refund Cheque was issued by the I T Dept. to the deceased Assessee for Rs.7500/-on 12.07.2014 for the Assessment year 2013-14.But deceased (his ) bank account was wrongly quoted by him in his Return of Income and the refund cheque was issued to the wrong account number ,cheque issued in the deceased name & to wrong account number. His Mrs rejected the cheque because the Banker rejected for wrong S/B Account was quoted in Refund cheque . The Assessee was died on 02.04.2014.He left behind Wife & Two Major Male sons
Our Query is --what procedure is to be followed to get/claim refund amount by the legal heirs?Kindly enlighten the points on above query

I am A Salaried employee & my salary is below taxable limit. I have filed ITR 1 for A.Y. 2014-15. But I didnt send The signed Acknowledgement of ITR to CPC Banglore in 120 days. What shall I do now? Is it necessary to revise the return or will it be Ok if I let it go, as salaried employees are exempt from filing retirn upto A.Y. 2014-15??

Is payment by cash of Rs.15000/- each to 6 persons totalling to Rs.90,000/- constitute violation under section 40A(3)?

Hello,

(1) Dedcution of Interest on Loan:

Pls guide whether Loan Interest paid during FY 2013-14 will be available as deduction while calculating Income from House Property? It is to be noted that person had sold property on 20.03.2014.

(2) Dedcution of Principle Portion of Loan:

Pls clarify also whether deduction of Installment (Principle Portion) will also be available as dedution in above example.

I am facing a problem regarding the following situation in one of our client :-

Our client is a company dealing in Plotting business, company has policy to take advance payment against the plot to be allotted but in the particular case the company has taken Advance against booking of Plots from the customer of Rs.35Lacs , now the customer is not paying any thing so the deal has been cancelled and the amount is written off by the company and recognized as Income .
My questions is following :-
1.whether the same is considered as Business income or Income from other sources ?
2. Suppose company is in Real Estate business than, Whether the same can be adjusted toward work in Progress ?
3. what should be Tax Treatment in this Case for the same if the advance from whom is taken is written of by the Customer in his Income Tax Returns as Short term capital loss and there after the same is written off by the company ? whether it should be considerd as Short term capital Gain in the hands of company or Business Income ?
4.whether section 269S/269TT of income tax is to be attracted ?
5. whether any other provisions of Company Act is applicable in the particular case ?

Suppose A = Assessee(Father), B= grand Father, C = yonger Son, D=elder son

Assessee(A) having Resi House Prop. which he has got ancestrol from his Father(B). Sold the same property & purchased new property in the name of Son(C). ( earlier one ancestrol peoperty already tranfered by grand father(B) to assessee's(A's) Elder son(D). so Assessee(A) for safegurding interest of other son(C) , assessee(A) has purchased new house in the name of second son(C) Whether deduction u/s 54 is available to assessee(A) ????

Dear Sir/Mam,

My Employer has deduct TDS @20% and in form 16 My pan no not showing. In this case what is the way in which i have received my Refund.

Thanks
Saurabh Tomar