During Financial year ended 31.03.16, I have incurred a loss of about 15.00 lac from share trading and Future/Option.The turnover is around Rs. 85.00 lac. I do not have any other income. May a Carry Forward the said loss to next year ? Whether I will have to get my accounts audited ? Please guide me .

Hi All,

Good evening.

In our Organization pertaining to 'Tds' esp. in Form 16 some of the employees have received 'Balance Tax payable/refund:-' 0.40 ps.; Re. 1; Re. 1.40 ps. which means 'Do they need to pay to I.Tax dept. (or) can they ignore it ?

Kindly let me know, look forward your valuable reply.


Thanks & Regards
Sugadeesh.S

Respected sir Iam a central govt pensioner
During 2014-15Fy Iwas working as partime lecture .My total salary was 7.6 lacs including pension according I filed the return .This finacial year2015-16 Iam having only pension as salary (ie)3.8 lacs Reduction of salary is 50 percent
I want to know will my return be scruitinised
by Income Tax department if so what documents I have to produce

Thaking you sir
narendran

Dear experts my query is should i have diduct the TDS on fabrication work & Engineering Works (Like supply of Cable trays supplier)

and Service tax should be applicable in fabrication work and engineering work

Please clearly clarify my query

Thanks & Regards

One of my client has been demanded to pay local body tax of Rs. 104000 which includes tax , double of penalty and interest also. Now the assessee wants to go for appeal as it is genuine case as the dealer has paid all the taxes on time . the liability arising is due to change in rate of lbt. so my question is whether an appeal can be filed with commissioner WITHOUT PAYMENT OF DEMAND RAISED" by lbt officer.
Please reply fast as the order has been passed by officer and time limit to file the appeal is 15 days only.

which itr filled by only home tuition income because itr 4s presumptive income itr and in which we fill presumptive gross receipts and itr calculate 8% income but home tutor income is only 2 lacs so how to calculate 8% and itr 4s is correct itr for home tutors.

Husband & Wife jointly purchased under-construction property from a very reputed builder in Bre. The buyers are to deduct 1 % TDS from the sale value for every payment made.The builder got us to sign in the purchase agreement that he will file the TDS on our behalf,which is a usual practice followed by big time builders. As per IT rules, TDS on the installments have to be remitted by each of the joint buyers for 50 % of the installment value. Unfortunately the builder deducted full TDS from the 1st named buyer only, with out consulting us, may be for his own convenience. This is clearly against IT rules in force,although full money due to govt has been remitted. If the mistake is not corrected, ITOs may issue us notices and harass us. Cancelling the challans, obtaining refunds and refiling with penalty,interest,fine etc could cost us heavily. Is there any other way of rectifying this mistake ? Can some Tax lawyer/ practitioner undertakes this task for us ?

Hello Friends,

Can we declare a investment under Income Tax who are getting professional fees on every month?. if "yes" kindly suggest how can we show and under which head.

If "NO" can you suggest me how can we avoid top pay the Tax amount.

Thanks
Chandru

Hi

I had submitted my 26 QB Correction request. Because of some technical reason, the AO was unable to approve and the sate is pendion for AO approval. Some one suggested that I can file it without AO approval if I have the digital Signature. Can I cancel the existing request and create a fresh request for same acknowledge number?

Whether premium paid under HDFC life super income plan allowed as deduction u/s 80C and upto what amount??