Dear Sir/Madam,

I have made 5 FDs (each Rs. 4 lakhs) in Apr 2008 and have auto-sweep facility in my SBI account which gives interest every year. The bank provides Form 16A. Till now I have not shown it in my ITR thinking that 10% is already deducted and paid to IT department. I have enchased one FD in Jan 2009. Now I have to fill ITR for 2011-2012.

How can i show previous interest income to avoid any future penalty by the tax department? I shall be highly grateful for help in this regard.

Regards,

G. Kumar

Our company is paying to one party who is company and registered and organised under the law and status of usa. we are paying for testing charges which are not make available.

please give me suggestion under which head this payment should be classified.

(1) business profit article -7
or
(2) Fees for technical services Article -12

it is urgent

Dear expert,
I would like to know that, whether now it is mandatory to fill office address in amended form 49A, in case of a business man
furnishing code no. 20 and he has no particular place of business (as he is a street vendor)
Please advise me.

Sec 54
An assessee sold a house and he got the LTCG of Rs. 10 lacs.

Now he invests Rs. 25 lacs for the purchase of new house within 2 years so as to exempt his LTCG u/s 54.

He solds that new house within that year only for Rs. 40 lacs.

Short term cap gain will be cal as follows.

Sale Price 40
cost (25-10) 15

STCG 25

Now my question is.
If he again purchases sum other new house again for Rs. 17 lacs in the same year.
What would be his STCG ?

Should a comapny pay CDT if the comapny has proposed dividend(which is not yet approved by the shareholders)withing 14 days of proposing?

Dear Sirs,
An employer pay following Fixed Allowances to his employee in monthly salary :-
1. convyance Allowance
2. uniform Allowance
3. Attendant Allowance
Can employer give Exemption U/s 10(14) if yes than how much amount will be exempted and what type of documents should be collected from employee for exemption

Hi,

If a farmer is doing farming along with business then what would be the income tax implication on him.

Does he need to pay tax for his business profits.

Could you please advise.

A company is having its registered office in Gujarat. Can it apply for PAN from Delhi / Maharashtra and have its income tax assessments over there, i.e. in Delhi/Maharashtra?

Suppose refund of my client is Rs.5000(Rs.4000 return income + Rs.1000 interest) but the government granted refund of Rs.6000 to my client.
1) Should he has to refund to government again?
2) Under which section the excess deposition to government to be made e.g.Rs.1000?

Sir,

for four assessment years, a wrong PAN number has been mentioned in the ITR forms and return has been submitted and refund also claimed. since the PAN is wrong, refund not yet received. what is the procedure for claiming the refund? is there any way of filing of revised return for the previous years? i already know that returns can be filed for only two previous years. kindly guide for the above.

by,
sivashankari