what is the exemption available to employees for food coupons per annum

Respected Sir.
Good evening. I received LIMITED SCRUTINY letter from income tax department for following issues A.Y 2015-2016
1) Import turnover mismatch
2) Custom duty mismatch

I am proprietor of the company. During sep 2014 I have IMPORTED sheep crust leather from Nigeria for the value of usd- 202,529.70 ( INR-1, 27,43,733.84). on 90 days credit basis. After receive the shipment the quality of the leather is very bad. so I Can’t make the payment..i ask them to reduce the price but they refused And ask me to send back the material. Imported material is duty free as per our customs norms. If I return the material I have to pay 40% duty. so I keept the material in stock(total material in stock). Due to this issue THE VALUE OF THE IMPORTED GOODS NOT INCLUDED IN BALANCE SHEET.
My doubts are
1) How can I solve this issue?
2) If there is any chance for penalty? If yes how much I have to pay?
3) How can I prepare explanation letter.
Waiting for your valuable reply.

Thanks &Regards
raja

i want to know one thing that i m providing cab to a company i have 3 employees under me .... i m not a registered dealer of service tax ...... the Co. to whom i provide service gives me the payment after deducting TDS @ 1% per employees under me and after deducting my profit i gave salary to my employees... sir will u plz tell me the process of tax payment

Sale Value of Vehicle is Rs.485000
1st Cash Receipt - Rs.61000
2nd Cash Receipt - Rs.424000

1) Should TCS be collected on 2nd cash receipt alone as Cash receipt is >2 lakhs
2) Should TCS be collected on the total cash receipt

HI,
I want to open current account for my proprietorship firm, for which i went online and registered for professional tax, as i had used my pan card number professional tax certificate was made in my name. below are my queries.

1) Can I register for professional tax in name of my proprietorship firm? if yes then what documents i need as i dont have any document in name of proprietorship firm?
2) I have paid 2500/- online for professional tax on my name can, is it possible to transfer professional tax certificate from my name to my proprietorship firm?

Thanks
YB

Dear Experts,

I am a LIC agent earning a commission income of around Rs 4.2 Lacs. Which ITR is to be used for the AY 2016-17.

Please

I s there any provisions in any law or government scheme that if a regular income tax return filer met with an accident and died and his family is eligible for death claim from government on the basis of his income tax return filed.

Can I efile my Income Return of AY 2014-15 now, as I have to Claim IT refunds, which was not known to me earlier.

THERE IS A CLIENT HE FILE ITRV AND HE DINT SHOW SECTURITIES LOSS OF 350000 AND THE TRANSACTION WAS OF 3 CRORE.NOW HE GOT A NOTICE FOR CLARIFICATION..AND ALL THESE WAS OF AS YR 2014-2015...PLZ HELP....HE WAS INVESTOR....HE SHOW HIS SALARY INCOME AND OTHER INCOME IN ITR....PLZ HELP EXPERTS.....