One of my client engaged in retail business has total turnover of Rs.6000000. His total profit is 275000 which is less then 8% prescribed u/s 44AD. However his total income after deduction is 112000 which is less than the basic exemption limit. Is he Liable to Tax Audit u/s 44AB?
Pls do reply urgently.

Hello,

I am a not practitioner , so can file itr 4 for Proprietary firm for the f.y.2012-13

if yes give me some guidline

My Income Tax audit under process and TDS deduction on 31/03/2013 and paid on 07/05/2013, Kindly send calculation on late payment TDS Amount Rs 23,492/-
Our auditor calculate Interest from 01/03/2013 to 31/05/2013. Whether this is correct.

Upendra T Kuber
Malde Paper Box

Dear Sir

My client's appeal is dismissed at CIT(A) due to non attendance.

Please tell me what to do further, whether there is any way to restore the appeal if yes then what are the procedures and process.

Thanks in advance !

Can some advise tax implication if any, being an agency we are paying honorarium to Doctos Rs. 25000/- (total nos. 1500+)on behalf of client?

Regards

A partnership firm got itself converted into a public company under part IX of Companies Act, 1956. During the course of conversion the company paid the consideration (by way of issue of equity share capital at par value) in excess of the capital employed by the partners as on the date of conversion. This has lead to creation of goodwill in the books of accounts of the newly incorporated company. Now the query is relating to depreciation on goodwill created. In light of recent judgement by Honorable Supreme Court of India in the case of Smifs Securities Ltd., Goodwill is an asset within the meaning of Section 32 of the Income Tax Act, 1961. In the light of the above judgement can the company claim depreciation on goodwill? Please consider that in the above mentioned case law the goodwill did came into existence as a result of amalgamation of two companies and in the company in the question above, goodwill has arisen as a result of conversion under Part IX of the Companies Act, 1956.

A person want to take loan for the renovation of his house but the house is registered in the name of his father.

So if the above person take power of attorney for the said house rather than purchase it or taking gift from his father, then whether he can claimed deduction of interest under income from house property.?

I asked the above question on the ground that the person with power of attorney has full right to sell, rent, construct, alter etc. i.e. the rights equal to the rights to the owner.

Sir,
We have changed the name our company four years back, with acceptance by ROC but missed to notify change in TAN,We have been filing nil returns so far, now it needed to deduct TDS and deposit.Request to pl guide how to notify it now and procedure thereof.

regards,

ashok thakker

WE HAVE APPLYING FOR GETTING PAN OF CO- OPERATIVE SOCIETY,there is no status column provided in Form 49A form,please reply at earliest WHICH STATUS I CAN BE MARKED IN FORM 49A AND WHICH STATUS WE CAN FILING I.T.Return,

whether Property given to a person on long term lease basis would be considered transfer for the purpose of Capital Gain Tax?