i had submitted itr of ay 13-14. but by mistakely i submit it as itr 1 instead of itr 4, so can i revise it and if i can do so, then is there any penalty or interest leived on me or not?

Hi,

I have a friend who is doing construction business and he purchases some instruments for Construction business which is intended for Costruction use of employees. Is is in Andhra Pradesh...
Please help me in resolving this...

Thanks in Advance...

Sir if a person acquires a property say of x area and progress on a JV with a builder to develop the said property with 50-50 shares holding in year. What would be the income tax/capital gain taxes on the proceeds.

Please suggest that what should be the cost of acquisition of a under construction property purchased on resale through allotment transfer ( prior to execution of Sale Deed)

RESPECTED EXPERTS ,

i have a fd of rs 5 lacs . every years i renew it . i was not aware about to mention the interest income in my itr .
should i mention it in current financial year or not ? will it create any problem for me ?
since that fd was created by me 7 years ago , it was from my savings .
will i have to show any proof in case of any issue raised by it department ?

Advice me please !!!

please give me detail about that can a tax payer or employee take tax relief both House rent allowance which paid by him in metro city where he/she doing job and already taken a home loan at native place before come this job place ? if yes can provide me detail and circulars and other proof which is demand by DDO...... urgent plz

Read more at: https://www.caclubindia.com/forum/hra-and-home-loan-309779.asp#.VEzyaiKUdRt

Sir, Please clarify the following issue: Assesse filed Income Tax Returns for Assessment Year 2014-15 in Form 4S for presumptive income declared u/s 44AD. He has also having House Property Income and Other Income also. He has paid self assessment tax of Rs25000/- and filed the return before due date i.e.31/07/2014. He has not paid any advance tax. Is he liable to pay advance tax u/s 44AD and he is liable to pay interest u/s 234B and 234C. In assessment order Income tax department send notice to pay interest u/s 234C. Return is filed with in due date i.e.31/07/2014. Please give reply the assessment order is justified. If not justified what steps to take to against order passed. Please give the solution for the above issue and give reply immediately with out fail

According to my understanding, clause 34(a) requires to disclose consolidated amount of each nature of payment which attracts TDS irrespective of whether the said payment is with in the prescribed or not. My question is what if an assessee does not posses TAN since he has not paid any payment in excess of prescribed limit. System does not accept if TAN is left blank.

The Assessee has paid to book a flat as under:

1. A Y: 2009-10-Rs.6,00,300/- (w.e.f. 11/02/2010)
2. A Y : 2010-2011 – Rs. 9,44,920/-
3. A Y : 2011-12 - Rs.13,77,466/- and
4. A Y: 2012-13 – Rs. 2,80,140/-(last: 13/08/2014) –
Total Rs.32,02,826/- paid up.

On cancellation due to delivery failure in 36 Months on 01.07.2014 the Builder paid Rs.43,23,398/-. Will you advise how to compute Capital Gain?

Thanks

VAPIWALA S G

there are 2 employees joined on 1st Sep 2014. They have not provided their PAN and said that they don't have it. the annual gross salary is Rs 1.9 lacs and Rs. 4.5 lacs respectively. kindly help me with the amount of Tds to be deducted for Sep month.