Dear CA Fraternity

On 08.10.2014 I have remitted TDS for the month of September 2014 of my Pvt. Ltd. Company through Internet Banking from State Bank of Hyderabad under Sections 194 C , 194 H & 194 J . All the payments were successful and Challans were generated with CIN.
Now when I verified the above Challans ( for filing of E TDS Returns for Quarter 2 ) in OLTAS under Challan Status Enquiry of NSDL website , either on CIN Based or TAN Based , its being displayed as "Record not found " even after 5 days.

When I contacted NSDL through E -mail , I was asked to contact the Bank where amount was received and resolve out the issue .

Now E-TDS returns have to be filed on or before 15.10.2014 else penalty under Section 234 E would be attracted.

If I pursue the matter with the Bank there may be a chance that Challans may be uploaded either by 15.10.2014 or later.
If within 15.10.2014 it is O.k then there is no issue at all.In case if there is delay , what options are available before me to avoid penalty under Section 234 E ?

1. Should I file TDS returns with the above unmatched Challans ?

or

2. Ignore these challans and file TDS Returns comprising of July and August Chalans only and after the matter is resolved with Bank w.r.t September Challans , I file a revised return once again.

If doing so will there be any problem from the Department.

Kindly advise me .

My parents are selling a house. For the deed amount, as per 194IA, the buyer is to deduct 1%

I have two questions pursuant :

1. The house is a joint property of my parents and my mother has no independent source of income. Whose PAN (my mom or dad or both) should the TDS be shown on?

2. We are going to reinvest the entire amount within 2 months into a new property (as such our long term capital gain is supposed to be 100% exempt under section 54). So how do we get the tax refund and how long will this refund process take?

Please let me know on this as early as feasible.

Sir,

A person had a PPF account opened by his parents when he was a minor. The same got closed when he attained majority.

Now he wants to open a PPF account as he is a major all by himself.

Can he do so, bcos a person can open only one PPF account.

Home loan Installment @ 12%, amount Rs.10015 per month for 5 years should i pay or not considering following options: 1. if i had invested rs.600900(10015*12*5 years) in FD at average current fd rate 2.or should i continue paying loan installment monthly as interest benefit on home loan (my slab rate is 10 %) [also the area in which i have invested in buying home is developing ,will take some time to be fully developed]

is it mandatory to file TDS return if one has a TAN number??? Even if no TDS has been deducted???

whether now it is necessary to revise the income tax returns already filed for assessment year 14-15 without auditors details with providing auditors details or is there any other formality?

sir/ madam how to issue c form to the saler ? do i need to take c form from CA or can get online also ?

please help me at earliest
thank you

One of the partner expired during June,2013 and the partnership has been converted into proprietorship firm.What are the required income tax formalities to be observed now:

a) Whether IT Return of the partnership firm for 3 months has to be filed compulsorily ?

b) Whether submitting of Dissolution Deed is mandatory ?

c) In case of efiling, how can I intimate the dissolution of the firm to CPC ?

d) What are the other required formalities to be observed ?

Myself and my father were running a partnership firm since last 5 years. My father expired during June,2013 and I took over the firm business as sole proprietor. Now, whether submitting Dissolution Deed in IT department is mandatory ?

SIR

COULD YOU PLEASE LET ME KNOW THE BASIC SALARY PER MONTH IF MY ANNUAL CTS IS RS 425000/-. AND PLEASE GIVE ME EXAMPLE HOW TO CALCULATE BASIC SALARY AND HRA ALSO.

THANKS

MUEKSH KUMAR