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.

Dear All,

I am receiving so many notices from TDS-CPC regarding payment of demand for the TDS amount which I have already paid in FY 2008-09. After reviewing the facts I came to the conclusion that the particular challan(s) against TDS amount for which demand has been raised is showing status as "Overbooked" in TRACES.

You are kindly requested to please provide me clarification regarding how to deal with these OVERBOOKED challans as TRACES is not able to clarify me what to do to clear the demand liability.

Rohit Kumar

IN NEW FVU DEDUCTEE REF NO SHOULD BE PROVIDED MANDATORILY IN THE CASE OF DEDUCTEE WITH PANNOTAVBL. KINDLY GUIDE WHAT KIND OF DEDUCTEE REF NO IS TREATED AS VAILD DEDUCTEE REF NO. ? IS THERE ANY CODING SYSTEM SHULD BE FOLLOWED?

Hi, I am trying to file ITR 7 of school under society. We have never applied for any exemption. While filing ITR-7 through Income Tax Utility Part A - General (1) ask for the "Details of the Projects / Institutions run by You". As such we don't have any project or institution run from our end. Further it's ask Section under which exemption claimed, if any, which we don't have actually. These all information is compulsory and we can not generate X M L file without filling up all this. This become a deadlock for us. However in previous year we able to file the ITR 7 without filling up all these details. Please help with the relevant provisions if applicable.

I filed my return for year 2010-11 in ITR-2 form in july , 2010 .I paid all the taxes before filing return. Yesterday I received intimation under section 143-1a for Rs 142325 . My query is if this notice for outstanding demand is valid or not after 4 years of filing return ?

Dear Expert,

We are cargo Agents in Delhi and dealing with Non Residents Airlines for the purpose of movement of Air Cargo from India.

We have been provided Orders u/s 197 issued by their AO certifying that No Deduction of Income Tax is required to made from payments made to them as the certificate is issued under DTAA.

We are allowing No Deduction of TDS from payments made to them.

Is is necessary for us to show these transactions in our etds return to be filed u/s 195.

Thanks & regards,

Mohan Saxena

My clients Gross Receipts is Rs.98 lakhs. He also has Transport Hire charges of Rs.6lakhs. Do I have to consider it under Section 44AB or can I take 8% of Gross receipts under section 44AD and one heavy business vehicle under sec.44AE. If I take the later it falls less than One Crore.

Sir,

Please clarify the following queries regarding the below mentioned situation

Suppose i decide to make a gift in cash to my minor son every year to an extent of Rs. 100000.

1.Now due to clubbing of income, will the gift made to him be added back in my income or will it be exempt as i come under the definition of relative.

2.In order to make investment and avoid tax liability, can i invest the gifted amount in PPF in my minor child's name?

3. If the above option is not worth the efforts will creating a Private discretionary Trust be a good option?

Generally people approaches CA's for filing return so that they can avail loan.

I just want to know how to determine/calculate the amount of loan an individual can get on his income tax return filed.

Please guide how to calculate the amount of loan one can easily get on his income tax return filed & also guide me all necessary important criteria in relation to same.
Eg loan can be determined by considering avg N.T.I of last 3 years, something like that.

Inconvenience is regretted.

Thanks in advance.

Dear Sir,
The Sole Proprietory business of Husband was transferred to Wife on 1st January 2014. That means, the entire business was run by the Husband for 9 Months and the Wife for 3 Months, Both Husband and Wife prepared respective P&L Accounts for the FY 2013-14 showing proportionate Depreciation on Assests transferred, i.e., 75:25 .
Is there any scope of showing Depreciation in the above ratios ( 75:25) in ITR -4 ?
In sheet 'DPM DOA' in the ITR-4, the options available are " Additions for more than 180 days/ less than 180 days.
Although, the Husband operated the business for Nine(9) months, is he entitled to get 50% and the balance for his wife.
I shall be highly obliged, if some light is thrown on the above issue.