Dear Experts,
I have a client, who couldn't file his Income Tax return for the A.Y. 2012-13 and he has refund. So, I would like to know that Could his return, for the A.Y. 2012-13, be filled now ? If yes, will he get refund amount for that year ?
Please suggest me.
Thanking Your

A friend had submitted late filing of returns for AY 2008 and 2009 in Jan this year. Even though the taxes had been submitted by the MNC that he worked for, the filing was done late. When he went to check on the refund status, he was told by the AO that the system is showing a notice under sec 153A and sec 153C which he himself does not know and will check. Can you advise what is this and can he get his refunds even though he has filed the returns late? As per the CA who filed his return, he feels that friend is eligible for refund but no interest on late filing however the AO was of the opinion that this cannot be claimed now. pls advise?

Lease rights of M/s xyz,a partnership firm,has been cancelled.Can i write off these rights?

I wanted to know what are the consequences of not showing exempt income in ITR
are there any penalties??
are there any chances of scrutiny ??

An assessee (Individual) has purchased two adjacent flats in a building and combined the two flats into one. Now the question is whether this combined flat will be treated as one house property or two house properties under Income Tax?

If treated as one house property, it will become SOP and no tax on same. However if treated as two properties, one property will be SOP and another will become DLOP which will attract income tax.

Kindly advise on the same

Thanks & Regards
Yash Goyal

Dear Sir,
In case of a partnership firm engaged in civil construction where there were two partners. And one partner has been retire from the firm on 01/05/2012 and second one decided to take over the business in his proprietorship. Immediatly the remaining partner updated his individual PAN with contractee departments for further deductions but he forgot to inform to his bank where they have made fds. Therefore bank keep continue to deduct tds on interest on the PAN of the firm. However tds amount is very small about 2600/- only.

Now please advise me how to deal the matter. Whether I should file return of the firm seperately by showing only interest income
or
I should leave it as it is and file only proprietor's return.

Hello everyone,

one of my client has purchased a hotel for rs.20 lacs and incurred rs.300000 for lincese and rs.10 lacs on interior decoration.He has given the same on rent for monthly rent of Rs.50000/-

i am confused as to the taxability of this monthly income ie. it will be taxable under which head and treatment of lincese fees and cost incurred on interior decoration?

waiting for the views of the experts ?

Dear Sir,

I had filled return for the year 2011-2012 in time, however I received form 143(1) from income tax department few days back.

On analyzing the reason for it, I found out that while filling the income tax I had wrongly mentioned TDS by my company under one TAN id, however the TDS was deposited by my company under 2 TAN ids.

Now, while filling the rectification form another mismatch will come because of the interest liability under 234B and 234C.

Please guide me through the correct way of rectifying my mistake.

Regards
Nipun

What are the procedures (Step - by - Step) for applying certificate u/s.197 for non deduction of TDS, whose income is exempted u/s. 10(26)? Is there any request from deductor (Payee of amount)?

RESPECTED SIR,

I WANT TO ASK A QUESTION THAT IF A PERSON RECEIVING SOCIAL SECURITY BENEFITS AND PENSION FROM USA WHICH WAS TAXED THERE ALREADY ...
1) DO WE NEED TO PAY INCOME TAX AGAIN HERE IN INDIA?
2) IF IT IS EXEMPT, DO WE NEED TO SHOW IT INCOME TAX RETURN? IF YES, UNDER WHICH HEAD AND HOW?

PLEASE HELP ME SOLVING THIS....

THANKING YOU IN ADVANCE...

SAGAR