Dear Experts,

Whether Section 269SS and 269T is applicable to individual who have only bank interest income.

i mean one individual who have bank interest & short term capital gain, have taken cash from some his relatives & friends, and paid them in next years.

whether received above 20000, penalty can imposed.

Hello please carefully see this question.

Our's is a Infrastructure Company. We incurred ROC Fees towards increase of Authorised Capital. As we know that the same could not be claimed as deduction U/s 37(1) of IT Act as it is Capital expenditure.

I came to know that sec-35D is not applicable to Infrastructure Company as per Ansal Housing & Construction Ltd V CIT (HC) ITA Nos.1261,1278 & 1402 of 2008 .


My question is how this expenditure to be written of in the P&L.

Kindly please resolve my problem.


Thanks & Regards

Hi
I have filed the Income Tax Return form ITR 1 on 8th July 2011, I have forgot to post the ITR V after filing the Return to Bangalore CPC office, & then I have posted in October, and they have received on 2nd week of November 15/11/2011

THE CPC Has Rejected the ITR V Filed in July for AY 2011-12

Reason :- Filing date has exceeded the Due date

Now should i have to file a Revised Return or their is no need to file the return again

Kindly help on this

Thanks & Regards
Deepak

Filing of ITR electronically is mandatory in case of individuals whose books of accounts are audited. What to do if the same is not followed and ITR is filed mannually only? What are the consequences of not filing ITR electronically?

what is dividend stripping? Please tell me in detail.

Dear Experts.

How do we consider closing stock in works contract entity. Especially they did work & bills sumbitted to department,but the payament will relase next financial year. Mainly we considering the turnover on form 16A which given by the department for the financial year.Pending bills they will not include in form 16A because payment were not made on that. whether its correct.& remaining bills sumbitted we consider as closing stock. but books are maintaing under mercantile system. kindly advice me whether we have to declare pending bills to be turn over for that year.

X takes a shop with rent @ Rs. 25000 per month from Landlord Y on 1-4-2011.

X takes a loan of Rs.5 Lacs from Landlord Y @ 18% pa. Also the monthly rent of Rs. 25000 is to be credited to the Loan account.

My question is

How will be the Interest calculated fro period of 1-4-2011 to 31-3-2012?

1. Whether 18% annual Interest on Rs. 500000 and 1.5% monthly Interest on Rs. 25000 per month ?

OR

2. Whether 1.5% monthy Interest on Monthly Loan a/c Balance ?

OR

Any other Way

Please Guide.

Respected Members

I am into my transport business and own 3 Heavy Motor Vehicles ( Trucks ).I want to know that can I show Net profit of 6 Lakhs in my Balance sheet and still file the Income Tax Returns u/s 44 AE @ 5000/- Per Trucks per Month.

Please solve my Quiries by giving some refrences of case studies if possible.
Thanks in advance.

Hemant Sureka

The assesse manufacturing unit in haridwar sidcul industrial area.
his registered office in south india & he is filling the income tax return with claiming exemption of 80 ic in south india.
they manufactured the goods in haridwar & transfer the goods to branch office in south india.
now The assessing officer asking about how is you claiming the expemption of 80 ic in south india (instead of haridwar).
i need the any decided case law for the same for satisfying the assessing officer. Aseesee is company.

1)If a firm providing websites by subcontracting them to other firms whether it would be included in definition of Profession?
2)Can a firm show receipts from Subcontract and Receipts from Professional consultancy seperately for the purpose of I.T. Audit, as the limit for professional is 15 lacs and for business is 60 lacs?