I m a post office agent how fill income tax refund.....which i had from tds......pls help as quickly as possible
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Recently i have joined an organization (Firm 1) who outsourced the entire recruitment process to another organization (Firm 2). I have quoted 1.25 Lakh per month towards my fee for the services. I am on the payrolls of firm 2 but my services are for the firm 1. Firm 2 receives 15 % commission on my salary which is exclusive of the quoted amount. I would like to know how much of the quoted amount will fall into "TDS". Normally as a contractual employee, i am of an opinion that 10% of the Remuneration will fall under TDS. Kindly confirm
Answer nowI have received a notice from IT department for having filed defective return for AY 2017-18. The notice says: Error Code 86
As per Section 44AD(6) of the Income Tax Act, 1961, the provisions of Sec.44AD are not applicable to – (1) persons carrying on professions that are referred to in Sec.44AA(1), (2) persons earning income in the nature of commission or brokerage, and (3) persons carrying on any agency business.As seen from the return of income filed, the nature of business code mentioned is 00301 General commission Agents, which falls in the categories mentioned above. Hence, the provisions of Sec.44AD are not applicable, in your case.
Possible resolution: As the provisions of Section 44AD are not applicable, in your case, the claim of computing profits and gains of business on presumptive basis, under this special provision is not allowable. Hence, the above defect has to be corrected by way of computing the profits and gains of business under the normal provisions and not under Sec.44AD and offering the same.
I am a Contractor so I put 0505-Contractors-Others & 0301-General Commission Agents
And I got Defective return Error 86 due to 301-General commission Agents.
Now I want to remove 301-General commission Agents as I have no Income under this nature, actually I left commission work 3years back after that to till date I have no income from this.
As I have file ITR4 for Assmnt year 17-18
and also shows income of 6% of gross receipt as digital transaction income.
NOW I could not able to change to itr3 as if I file itr3 than I have to do audit of business.
Please help and suggest what should I do.
Arrears of 4 years peratining to 2010 to 2014 received in the year 2016... Can relief be claimed in belated return u/s 139(5)by 31.03.2018 if original return not filed for the FY 2016-17 ? What if the original return is filed & relief claimed u/s 89 not claimed....can it be claimed u/s 89 in revise return?
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i have filed my individual income tax retun on 4th Oct 2017 (due date 30th Sep 2017). But i selected by mistake "on or before due date 139(1) also in the verification sheet i had mentioned an old date by mistake (15th July). The return has been successfully filed and e-verified as well. Will it create a problem in getting the refund/should i update the department about the mistake/can it be done online
Answer nowI am right now working as Accountant in manufaturing company and planned to do CMA my quirey is after CMA can i do Tax audit of company. Please do the needful.
Answer nowfor ay 2016-17 one of my friend having total taxable income was Rs. 18,10,760/-and total tax payable was Rs. 3,79,275/- and relief under section 89(!) was Rs 3,10,006/-and hence tatal income tax liability was Rs.69,269/- and same amount has been showing in form 26as for ay 2016-17 and transaction date showing in form 26 AS is 21 june 2016 and booking date is showing is 8 june 2017(against Rs. 69,270/- single tds transaction) . and i file income tax return on 15 august 2017 .and at the time of filing income tax return u/s 139/4 it was not showing interst u/s 234 A,B,C but when i recieved intimation u/s 143(1) it is showing interest
234A- Rs. 40.300/-
234B- Rs.55,800/-
234C- Rs.11,470/-
sir why it department has levind interest on this .please help .thank you
we know that TDs on salary deducted on payment basis is.april months salary will paid in may and mays in June so for quarter 1 do I have to record only two months TDs April and may because June months TDs would fall under q2 ... same what is date of deduction for salary in march as march salary paid in April
Answer nowThis year I am late in filling IT return as I was abroad. In fact its not yet done. I want to do it now online. Is it possible & if so what is the process?
Answer nowCan Extent audit due date 17-18
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How to fill income tax return for income from commission(po)