Dear Experts,

A person is having proprietorship firm ABC and he is also a partner in a Firm XYZ.
If a machinery is purchased in name of proprietorship firm and on same day of purchase the proprietor wants to introduce that purchased machinery in the partnership firm XYZ as his capital.
Then in such case who will claim the benefit of depreciation XYZ or ABC.
In my opinion since Partnership Firm XYZ is using that asset therefore XYZ should claim depreciation benefit. But at the time of assessment AO will say that the bill is in name of Proprietorship firm and depreciation is claimed in XYZ.

I want to know what is the proof of ownership for partnership firm for any moveable assets which is introduced by the partner.

Regards,

A doctor has maintained books of accounts on cash basis. He has received a cheque of Rs. 180000 (net of TDS) as professional fees from a company in MAY 2014. The company has made TDS of Rs. 20000 on 31.3.14 and had deposited the same in April 2014 as it follows accrual basis.
Que.

1. Can the doctor take the credit of the said TDS of Rs. 20000 for AY 14.15 .

2. Whether TDS of Rs. 20000/- the credit of which is available for AY 14.15 constitutes the income of Doctor for AY 14.15?

Dear Sir/Madam,

Does a Supreme Court Judgement have retrospective effect? E.G. can a Supreme court judgement of 2014 be quoted in a case of say Assessment year 2010-11?

Please refer a relevant case law or any legislation.

What kind of areas I can focus for tax planning
ubramanian
I am the only consultant and request suggestions on minimising tax as much as possible

Any help is good

S

I HAD PARTNERSHIP FIRM BUT NOE IT HAS BEEN DISSOLVED SO ANY TELL ME THE PROCEDURE FOR TAN NO. CANCELLATION & TAN NO. CN LETTER DRAFTING

Sir,

A party want to file income tax return for A.Y. 2014-15 from Jammu instead of Ludhiana. How can his new returns processed at Jammu Income Tax Office. (The ITO at Ludhiana harassing us a lot.) Can we change the address of PAN first. Please advise me.

Thanks

Gaurav Dhir.

Hi,

A Senior Citizen Employee getting Annual Gross Salary 36,00,000.
His LIC is Rs. 1,00,000 and nothing other deduction or allowance.
Accordingly his taxable Income for F.Y. 2012-13 is Rs. 35,00,000.
Accordingly we deduct taxes Rs. 9,01,250.

Now we got an Intimation U/S 154 by Income Tax department:- we deduct short TDS Rs. 5,150 and they charged Interest Rs. 714 also. I have downloaded Justification Report also, according to that they deduct TDS on General Men Category.

We deduct TDS on senior citizen as usual correct slab rate.
Now What we should do against this.

Dear Experts,

greetings. I'm jinesh aggarwal. I want to apply pan no. for my mother. but she has no date of birth evidence. As per new notification, evidence of date of birth is one of the mandatory document require for apply new pan card.

Please suggest how can apply pan card for my mother if she has no date of birth evidence.

Regards
Jinesh Aggarwal

Is there depreciation allowable or not @ 50% of depreciation rate under Income Tax Act for the financial year 2013-14 if an asset is purchased on 31.3.2014 and put to use on the same date by the assessee.

My Brother itr was Filed by Mentioning wrong TAN in ITR1 He is a Salaried Employee.Intimation u/s 143 was sent by cpc with Demand Identification No and it shows net amount payable.But my brother had Refund amount.It is not possible to revise return because it is filed after due date. In that intimation challan no/ITNS 280 was attached and Tan unmatched information also.Is it possible to file rectification under section 154 now?and how to file? Please guide me.

Thanks in Advance.