I am a retail trader of sanitary items. On 01.04.2016. I had a cash in hand of Rs.13,24,000/-(already reflected in my IT Return) During the period 09.11.2016 to 31.12.2016 I had deposited cash Rs.31.00 lac in my CC a/c, including Rs. 6,29,500/- deposited on 13.12.2016 (for which explanation has been sought from my by IT deptt.)
During the said period my cash sales was around Rs. 21.00 lac.

Opening balance on 01.04.216 = 13,24,000/-
Cash sales during 9.11 to 31.12.16 = 21,00,000/-
Less: Cash deposited during the
said period = 31,00,000/-

Personal drawings = 1,00,000/-

Hence, Cash in hand on 31.12.16 = 2,24,000/-

Please guide me as how should I fill the Explanation Sheet ?

Neither any cash withdrawals from banks nor any cash purchases by me.

Dear Sir
I am a professional. I also have agriculture income. But the land is in my father's name. How could I take agriculture income into my balance sheet.
Kindly suggest me.

-Sanjay

My total salary received during the financial year 2015-16 was Rs. 12,76,000/- (including House Rent Allowance of Rs.2,35,000/-). I had paid Rs.99,000/- as house rent to my landlord during the year. I am residing and doing job in Noida, UP. How much exemption I can get against House Rent Allowance ?

I am a retired employee who likes to make a cash gift to my wife.what are the terms and conditions in respect of the gift deed and relevant tax provisions for the above.whether gift deed to be registerd or not if so what are the rules please.

A employee receives HRA for his employment in Chennai amounting 24,000.
He stays in Chennai and Pays Rent of 12,000.
He also kept his few belongings in Bhubaneswar with his Parents and Pays Rent of 20,000.

Can Rent paid for his accomodation in Bhubaneswar be considered for claiming HRA tax benefits as this will give additional tax savings.

Hello, I want to ask a question... as one of my friend is engaged in the business of Providing Security Service in mines, he has not filled the return for the A.Y 2012-13 & 2014-15 and T.D.S has been deducted for such A.Y amounts to Rs. 60,000/-. As he wants to refund that T.D.S amount now. What is the process to recover that T.D.S amount. As I know filling of return is time barred for such two A.Y. kindly give suggestions regarding the matter.

Hi There, i am salaried person however my taxable income is less than the tax limit and i got TDS deducted on my FD. I forgot to file my ITR for AY 2016-17. Please let me know if i can file it now. My ITR would be tax refundable. Please let me know if i can file it now, if yes under which section it will be filed ( on or before due date or after due date or any other) and will there be any negative impact on my profile. Thank you so much for your help!

I am Indian passport holder and a retired bank officer.

I stay at Toronto Canada on visitor visa since March 2016 and shall be reaching Ahmadabad on 16th Jan 2017.

I have 25000 RS currency notes to be exchanged which I shall be carrying with me

Kindly guide me whether I should submit ANNEX I or ANNEX II REFERRED IN RBI LATESTNOTIFICATION OF DEC 2016

I LOOK FORWARD FOR YOUR GUIDANCE

VINOD DHANAK
TORONTO

Respected Sir,

After completion of repairing party gave single invoice which is including accessories and labour charges.

Accessories Rs. 48000
Labour Charges Rs. 8000
Total Bill Amt. Rs. 56,000

Now my query is Tds is to be deducted on whole invoice amount or only in labour charges?

Kindly advice in this matter.

I have received payment from LIC for a investment policy for which I was paying premium every year. This payment cane in 2015-16.And I am submitted ITR foe this year already but did not declare this income.Is there any way I can amend this now .