Jai Yadav
28 July 2015 at 16:41

Demand notice under 143(1)

Respected Experts
I am a salaried govt. employee. I have recently received an intimation U/S 143(1) from CPC Bangalore in which the department has demanded tax amount of Rs. 21,708/- for AY 2014-15.
-In this regard the total tax liability as calculated by me and deducted by my employer at source is 17683/- while the department has calculated it as Rs. 18142/- to which I may agree and ready to pay the difference amount of Rs. 737/.
-The problem here is that the tax amount already paid by me is shown as zero in the intimation letter column number 40. While my form 26AS is showing the full amount of Rs. 17683/- the IT departments intimation letter is showing it as unmatched.
-Hence the total amount demanded by IT department is Rs. 21708/- after adding interest on the full amount.
So please help me how should I approach the department to rectify this issue.
Thanks
Jai Rao



Anonymous
28 July 2015 at 12:26

Ltcg and sectin 54

During financial year 2012-13, I had purchased a land for Rs. 15.00 lac and during current financial year (2015-16) I have sold the said land for Rs. 35.00. Further, I have agreed to purchase a residential house during current year and have paid 10.00 lac as advance in cash, but the purchase agreement of the said residential house has not been finalised due to some problem. The said final agreement may be delayed by one year. Under the circumstances, may I get the exemption for LTCG tax for 10.00 lac paid as advance ?



Anonymous

I AM ACTING AS A MANDATE OR BROKER BETWEEN BUYER AND SELLER. SO HOW CAN I RECEIVE COMMISSION IN $ VIA BANK TRANSFER ? CAN I RECEIVE IN MY PERSONAL NAME CURRENT OR SAVING A/C OR I HAVE TO RECEIVE IT AS BUSINESS CURRENT A/C ? IF PAYMENT IS > 10 LACS IN INDIAN RUPEE THEN DOES ANY TAX LIKE SERVICE TAX.applies ? IF TO RECEIVE IN BUSINESS A/C ONLY , PROPRIETARY FIRM IS OK ? IF I CAN RECEIVE IN MY NAME CURRENT or saving A/C THEN I HAVE TO PAY IT OR ADVANCE TAX ? IF ANY BODY HELPS I WILL BE GRATEFUL


Krm91

Husband has opened bank account in name of wife but all the savings account interest income received is from the money invested by husband. The wife falls in 20% tax slab and husband in 10% tax slab for AY 2014-15. The savings account interest income is around 25000/- and there is still no PAN provided to the bank for this account. Should this income be included in wife's GTI as the account is in her name or should it be included in husband's GTI considering clubbing provision. Also in current year the entire balance in that account is transferred to husband's bank account. Since there is no PAN provided and in next assessment year there is no interest income, is it alright if in the current ITR , this income is not shown at all. If its not shown in Itr and later year query comes then who will be at fault i.e. husband or wife? And what will be amount of penalty?? Please help..



Anonymous

A proprietor firm has a HUF proprietor and for his bank CC loan, the bank refuses to approve as being a huf proprietor of firm. What should firm do to get his loan is any way to convert huf proprietor to individual proprietor? Pls clarify.



Anonymous
17 July 2015 at 16:55

How to reset password

My Tax Consultant not provide me E-Filling Password. and He is not fill correct bank account no., Also Email id & contact no.fill his own in previous return.

How t reset password.



Anonymous
17 July 2015 at 16:00

Pf act

Can basic salary be constant for all employees ,Though the total salary varies for the purpose of calculation of pf ,In my company all the employees from directors to junior staff have same basic pay as 6500 .can it be fixed in this manner.Please respond


Sonex
16 July 2015 at 11:10

Tds return filling

We are not filling TDS retunf since last three years, since there is not activity in the Company.

What would be the consequeces for the same ?

Is there any pentalty u/s 271H in our case ?



Anonymous

One of my friend is a salaried employee doing software engineer job. The problem is for the FY he received salaried income and also he rendered software professional services on his own behalf to a foreign client and he received payments in US $ directly credited to his account. He is telling that they were not deducted any TDS. How deal the above issue when filing the income tax retutrn.If any body has the format of P&L A/C nd B/S of professional ,can u please send me. It is urgently required friends.Give me your views


Aswath
15 July 2015 at 10:31

Due date

Hi All,

Can you pls let me know any one ,what is the due date for PF,ESI,SERVICE TAX,TDS &VAT.






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