Dear Experts,
I have a case regarding cash payment:-
M/s X co. issue cheque in the name of employee of Rs. 40,000/- for purchasing a Mobile Phone. The employee withdraw the cash from Bank and then purchased a Mobile phone.
The question is that whether this payment is cover under Payment u/s 40 A 3.

If any person has gross receipt of Rs.150000 in f.y.2011-12 for job work done for textile industries. Whether such person is liable to maintain his books of accounts as per Section 44 AA? it is to be noted that he has 101000 income under the head salary also for f.y.2011-12.

1. Exempt income wrongly disclosed in Taxable income.
2. Assessing officer issued Demand notic.
2. I filed Rectification request
3. AO Asked for case law for similar situation. or els he will issue notice for proceding.

Dear Sir,

BASIC SALARY = 6600 X 12 = 79200
HRA REC FROM COMPANY = 4036 X 12 = 48432

PAID HRA = 4500 X 12 = 54000

Then how amount can i take exemption under 80 c. 2000 per month or not exceed 2000 x 12 = 24000/-.
This is right or some else.

Regards,
Rahul Mehra

If Indidual is having taxbale income and after deducation under sec 80c and no tax liab is there. is in this case and Income tax returend to be filed? as income is less than 5 lakh and not senior citizen.
to file income tax returned is complusary?

respected sir,

i have e-filled with the wrong name and i wish to opt rectification option but i have not any kind of reference no. otherthan verification form of incometax which is generated by system at the time of original e-filled. so guid me how can i do as i said with my problem.


regards
m r shah

Sir,I have paid income tax of Rs 1402(for total taxable income) for the financial year 2010-11 on 25/03/11 but had not filed tds statement of q4 of 2010-11, i had filed itr under my pan and the tax paid is not reflected under my pan and i have recieved a rectification notice on 20/10/2012.If i file tds statement of q4 2010-11 now, how much penalty would be levied?

a pvt ltd co having a paid up capital of Rs.1 lacs and reserves & surplus of Rs.5 lacs wants to convert itself into LLP. PLEASE DO GUIDE ON THE TAX EFFECT.

WHAT WILL HAPPEN TO RESERVES AND SURPLUS. WILL ON THE CONVERSION TO LLP THE PARTNERS WOULD BE ALLOWED TO WITHDRAW IT. IS THERE ANY TAX LIKE IN FOR CO. FOR BUYBACK OF SHARES.

My husband and myself were joint owners (flat's first name was mine) of a flat purchased in Feb' 06 for Rs. 8.40 lacs. We sold this flat in Nov' 13 for Rs. 28 lacs. We have purchased another flat jointly in Dec' 12 (my husband is its first owner) for Rs. 28.22 lacs including stamp duty, registration and taxes. What are the capital gains for me in FY 13-14? Can I claim capital gains exemption even though the new flat purchased in Dec’ 12 does not have my name as its first owner? I do not own any other house in my name. My husband also owns two other houses in his name.

Whether owning a residential house in joint names disqualify the joint owner from Section 80EE benefit if he/she goes for new house in his/her name??