IF A PARTNERSHIP TRANSFER ALL ITS INVESTMENT OF LISTED SECURITIES LIKE RELIANCE , TATA , ETC. TO ALL PARTNER PERSONAL ACCOUNTs than will it be liable to capital gain or not ???

There was a deduction of Rs.40000 towards TDS from my family pension account for the FY2010-11.
This was deducted incorrectly by the bank.
Since then I have approached the bank and the Ombudsman and now I plan to file a late IT return to claim for the refund of TDS deducted by the bank.
My queries:
1) Do I need to file returns for FY2010-11 before 31.03.2013? Can it be filed after this date?
2) Would there be any penalty on the delayed filing of returns? (I have heard that this is at the discretion of the assessing officer)
3) In case of a belated return , how much time does it generally take for the refund to happen?
4) Is the procedure to file late returns same as that for normal return filing?

Thanks a lot.

Dear Sir
whether any tds applicability arises on hotel bills if it exceeds 75000 per annum/30000 per hotel bill

please explain the rationale
Dheeraj KUmar

I was just going through the My Accounts section in the e-filing portal and I was shocked to see that an ERI was registered as recently as 04/02/2013 in my account. I can see a provision to add CA but I do not see any provision to add an ERI. I can only see a provision to disengage one.

What worries me is has the department themselves designated an ERI for me. If not, can I remove the same. What are the repercussions of removing an ERI and does it affect my tax filing for already filed returns. My AY 2012-13 is not yet processed and still in the ITR-V receipt stage. I do not want to do anything that may affect that as I filed these returns and sent the ITR-V myself and not through any intermediary.

whether tds on contract or professional fees applies to pvt company , if private company ask someone to calculate salary & make cheques for the employees who are on payroll of company?

One of our client has incorporated pvt ltd in 20.02.2013.
What is the due date filing of IT Return?

Should Annual report be audited by an Auditor before filing Return of income ?

Is it possible file the return of income Without adopting the audited accounts in First AGM ( Because They have 18 Months time to hold the First AGM)?

Thanks in Advance

I hv sold my father's property which was purchased by him before 1980.
Proerty was titled to father's and nominated to me and my brothers.
For d sales purpose, we make one stamed document in which mentioned tht property is tranfer to my name on behalf of my brother.
Aft tht we sold property and cheque was received on my name.
So now to get benifit in income tax can v divide sales amt within all my brother.
Is their any legal documents required for this division?

I have query regarding allowance of depreciation on amount of disclosure as an fixed assets during the course of survey.Details are :

-During the course of survey on assessee,ITO find extra amount of Rs. 50 lacs paid to builder for purchase of business office.

-For that assessee disclosed that amount as in addition in office/ fixed assets.

Now my query is that assessee can claim depreciation on that addition of Rs. 50 Lacs or not. And kindly provide link of any case laws if you have?

Hello experts,

One of my client's profile is reflecting an outstanding demand of Rs. 5,500 in the Income Tax Department's site for AY 2004-05. The assessee hasn't received any further communication post that demand. He wants to clear his outstanding dues.

He wants to know the break up of the demand amount as to Tax, Cess, Interest and any other category where the amount is payable.

I request your opinion so that the amount can be paid.

Thank you.

As per Income Tax, TDS has to be deducted on the amounts credited or paid whichever is earlier.

Following this on provision also TDS is applicable, but as per AS29 provisions are estimates where actual amount is not known.

Whether TDS has to be deducted on the provisions made on the estimates at the month end and reversed at the next day?