One of our clients had filed original IT return showing a refund of Rs90,000.Subsequently the return was revised and the refund amount was reduced to Rs.70,000.00.However the Income tax department has now processed the refund based on the original return and have issued refund DD for Rs.90,000.What can be done regarding this?Can we encash the DD for the full amount and pay the differential amount as self assessment tax?Or is there any other alternative available?

I had a turnover of around 1.5 crores each year during the financial year 31.03.11, 31.03.12, 31.03.13, 31.03.14 & 31.03.15. But I had neither got my accounts audited u/s.44AB nor I had filed any IT Returns for the said years. As such, I had violated IT provisions completely. But sir, now I want to regularlise my IT returns w.e.f. Financial year 2015-16. But, what should I for the past years' violations ? Whether there is any way, so that I can file my IT Returns of the past said years (of course with penalty) ?

Hi,


As per recent press release, now at the time of making rectification application for correction of TDS schedule, tax payer is not required to fill complete data, it will already filled, tax payer will only be required to update the same.

I want to know from where such data wll already be filled in the application??

are there any points in this press release which a tax payer should take care??

I filing IT15-16 for partnerships firm and I would like to EVC through aadhar card but I can't see option to link aadhar number in e filing website .. how to link partner aadhar number in e filing ...???

During financial Year 2014-15, I had incurred a loss of Appros.30.00 lac against Future & Option. My Income include salary income. Due to some unavoidable circumstances, I could not filr my IT Return before due date. Please advise me whether I can carry forward my F& O Loss or how can I set off the above loss ?

A ancestral plot of land owned by father (Now expired) is to be sold by me for approx. 50.00 lac.My mother is alive. How to treat the above in Income tax ?

There is one vacant land in the name of husband and wife. It was purchased in FEB2003.If sold during the year, can the capital gain be apportioned to both husband and wife equally;invest the gain in approved bonds to claim the exemption. Can both invest Rs.50 lacs each to claim the permitted exemption. Or is there any maximum permissible amount to be be invested out of one property
(Since there is maximum cap of Rs.50 lakhs)

whether courier franchiseee is liable to pay service tax

During financial year 2014-15, I had a total turnover of Rs.90.00 lac in retail trading. In addition, I had earned a commission income of Rs. 5.00 lac U/S.194H. I want to know whether I can declare my income U/s.44AD on turnover of Rs.95.00 lac or not ? Or should I show the income on 90.00 lac U/s.44AD and commission income separately : Please iadvise me.

Hi Expert,

My Name is Prasad, I working in a Software company, which is Private Limited. We are offering Private Medical insurance to all employees, those who are not covered in the ESI. Recently I admitted in hospital on sick. That time I want use the company providing insurance due to not renewal my insurance by HR Dept. I am not able to use the claim. I paid my hospital bill.

Please let me know should I eligible to get reimbursement from my Company in the scenario of providing the Medical benefit to all employees by my employer?

If Yes, Please send me relevant act/documents to forward my employer.

Thank you in advance.