MS.XYZ, a liason office has deducted TDS during the Month of March 2013 and paid to the government with in due date.
However the payment was made for A.Y.2014-15 instead of A.Y.2013-14.
On notice of the above error they again paid the same amount of deductions along with Interest for A.Y.2013-14

Can the amount wrongly paid for A.Y.2014-15 be utilised for the month of April-2014 ( A.Y.14-15).
TDS return for Q4-2013 is not filed yet.

If it can adjusted plese give references to the provisions of the Act.

HI FRIENDS,
I FILED THE NIL TDS RETURN. NOW I WANT TO REVISED SUCH RETURN. HOW I CAN DO SO??????????
& CONS. FILE IS NOT AVAILABLE ON TDS CPC.

Hello Sir,
The Assessee is a retired school teacher who receives pension monthly.Morever, the Assessee also is a Post Office Agent who receives commission on which TDs is deducted U/S 194H of IT Act. Which form is applicable..??? ITR 2 OR ITR 4..??? PLease help me out Sir....

Dear sir,
I have a question about capital gain.Suppose Mr.A get some agricultural land from his father mr.B . mr.B also got those lands from his father.I mean these lands are all family asset.Now Mr.B is no more.Mr.A sell those land,now how to calculate capital gain from this type of selling,where no purchase value is avaiable.These lands are far away from urban area(mean more than 8 k.m).

Sir,
Mine is a proprietorship concern,we have found some discrepancies in TDS returns in 1st and 3rd qtr of fy 2012-13.Some interest is due to be paid,we have decided to pay it now till May'2013 from the date of payment of TDS and file revised returns.Agency whom we have entrusted the job of filing TDS returns say it can not be done now till a default is created by Department, why can't we do it voluntarily ? pl advise exact procedure....for correcting this mistake.

Regards,

ashok thakker

Dear All,

I need ti understand one thing, we have two organization one is a Private Limited and another one is HUF proprietorship.

In Private Limited firm, my father and my younger brother are the directors. In the HUF proprietorship my father is the Karta and proprietor.

We do a lot of borrowings between the two firm from private Limited to HUF proprietorship and vice versa through banck transfers. Are we doing any violation, do we need to follow interest receivable and payable transactions?

Please clarify my doubt...

Please advise what is the rate of depreciation as per income tax rules on scaffolding ? Thanks

Hi,
I want to convert 2(TWO) Partnership Firms into one Private Limited Company. Please suggest me the effective way out through which i can save the tax on transfer and covert both the firms in one company.

Respected Sir,

There is one company A Ltd. having authorized and subscribed share capital of Rs. 1,00,000/- and another one proprietory firm of Mr. B. Mr. B is one of the director cum shareholder of A Ltd. also. Both are in same line of business of Clearing and forwarding.

Now sir, A Ltd. wants to take over the business of properitory firm of Mr. B. than My questions are :

1. I want to know what is the legal procedure and compliance under the income tax act and any other law ?

2. At what price the A Ltd. can purchase the assets of properitory firm of B means how the valuation of B's assets can be done and How the purchase consideration be calculated and discharged?

3. What is the position for Capital gain for Mr. B and how it can be calculated?

4. Is there any demerits for any of above?

5. How much Expenses are incurred for this procedure?

I hereby attached the balance sheet of properitoy firm for the reference.

The Abstract of Balance sheet of B is as under:

Capital : 2662790
sec. loan: 33868
curr. liability: 3133348
Fix asset : 325208
Curr. Asset: 5504798

Respected Experts, Kindly Reply soon it is important for me.

my email Id : cahirenjm@gmail.com or anjnakhant@gmail.com

Dear Expert,

Please find the facts below.

I sold inherited land purchased in 1967 for Rs. 15000. Now the land is sold for Rs. 25,00,000/-

My age is 72 years.

I am not having 1981 cost for the land to calculate indexation cost of land.

Could you please suggest how should I determine the cost of land as on 1981?

What will be the Tax liability in case the same is distributed by me to the sons?

Thanks