I have 2 queries
1. If the income tax has not been filed for the year 2006-2007( due in July 2007) till now, and there is no tax pending to be paid- would it attract a penalty now to file it?

2.If a son gives a sum of Rs 2,50,000 to his father- who puts in a FD for 2 years and then returns the amount with interest to the son, would either need to pay income tax( father has no source of income so interest on FD would not be taxable as he is senior citizen)

Thanks in advance

Dear All,
I have not received form-16 from my previous employer and currently that employer not in a position to issue me Form-16.
Shall i claim that TDS in my return without attching form-16?


Please suggest me what will my steps to slove this matter.

The ITO issues a notice u/s143(2) of the ITA for AY 2006-07 on 25/07/2007. The ITR was filed by assessee on 15/07/2006. thereafter the file of the assessee was shifted to another ward by dept. due to some internal changes in dept. the ITo of new ward issues a new notice in march 2008 without any reference of previous notice. IS this New notice valid or will it be considered time barred?

We are hiring vehicle for our office from travel agencies on monthly basis. Generally, we deduct Tax from the gross bill u/s 194 I. But, very recently we have got instruction to deduct tax for the same @2.266%, i.e TDS u/s 194C. So, please tell me whether tax for vehicle hiring to be deducted u/s 194I or 194C.

We have declared devidend for the fy 2006-07 not paid till date along with Dividend Tax.. Pl.Help me what are the Compliances?

Whether TDS borne by the deductor can be claimed as an expense in the books of the deductor?If yes, under which section of Income tax act,1961?

Hello,

First of all I thanks to caclub india for their efforts to bring professionals at a single point.

My queries are following:-

(1) First of all I wants to know that when a salaried not comes in tds bracket then his employer will issue form 16 or salary certificate and what is the difference between both of above?
(2) Plz tell me about concept of at par cheque, high value cheque and outstanding cheque.
(3) If we have not been deducted tds on interest payment to a party for payment in the month of march 2008 then what wil be the adjustment suggestable sothat we comply with the law? Also show me the adjustment entry for above adjustment.
(4) If we have not deposited tds of march 2008 till date then what consequeses happenes?

Plz reply me above queries as early as possible

sir,
i want to know regarding non deduction of tds on reimbursement of expenses by a person(IInd party) to another person(original party) who already deducted TDS on same amount and deposited. (for example a subsidiaries paid rent 0f rs 140000/ and deduct tds and deposited and get reimbursement of same amount rs.140000 from holding co. however holding co. not deduct any TDS on such reimbursement)

I need your expert opinion on this metter. please send me supported sec. and legal opinion if any on my e-mail address - canishantchaudhary@gmail.com


thank u

truely

Nishant

Dear Friends,
I am Abhishek Sabhaya from Gujarat.

So my question is : Can any payment be taken as deduction against Winnings from Lotteries, games, etc. ?

Please give answer after thinking good.

Best of Luck.....:-);-)

abhi(420)

If at the time of filing return it was known that the return is not complete when he was filing it.so just to avoid the delay return is filed .but if there is a need to revise the return and there is substantial diff. b/w original & the revised return can this be proved in appeal that the mistake is not intentional