My dad has a business dealership based entirely on credit. now with the demonetisation, all the retail suppliers have purchased the goods and deposited cash totalling to a crore altogether. what is the procedure to deposit it in the bank? VAT input is applicable on the product which is being paid duly.

Dear Concerned , My mom who is a housewife, and looks after the Rent (landlady) matters of our Residential Propety has a cash amount of Approx 9.5 lacs of 500/1000rs Denominations saved over a period of 4-5 years. Currently she is a senior citizen and has a bank account as well with valid PAN details made prior 2years . However she has never filed income tax returns. Now when Modi Govt has done demonetization , my Mom is liable to deposit the amount in her Bank Account. However as the amount is More than 2.5 lacs and also not disclosed in the IT return (not filed) , she is likely to attract huge penalty chages . Kindly suggest a suitable solution to the issue.

Dear Concerned , My mom who is a housewife, and looks after the Rent (landlady) matters of our Residential Propety has a cash amount of Approx 9.5 lacs of 500/1000rs Denominations saved over a period of 4-5 years. Currently she is a senior citizen and has a bank account as well with valid PAN details made prior 2years . However she has never filed income tax returns. Now when Modi Govt has done demonetization , my Mom is liable to deposit the amount in her Bank Account. However as the amount is More than 2.5 lacs and also not disclosed in the IT return (not filed) , she is likely to attract huge penalty chages . Kindly suggest a suitable solution to the issue.

Dear Concerned , My mom who is a housewife, and looks after the Rent (landlady) matters of our Residential Propety has a cash amount of Approx 9.5 lacs of 500/1000rs Denominations saved over a period of 4-5 years. Currently she is a senior citizen and has a bank account as well with valid PAN details made prior 2years . However she has never filed income tax returns. Now when Modi Govt has done demonetization , my Mom is liable to deposit the amount in her Bank Account. However as the amount is More than 2.5 lacs and also not disclosed in the IT return (not filed) , she is likely to attract huge penalty chages . Kindly suggest a suitable solution to the issue.

we as business man can accept above notes and deposit in bank and till what time frame. pls adv

My brother is in noida... He wants to send or transfer money. if we accept the transfer in our account then we have to show it as loan from him while return filing. What is the option available with us so that transfer can be made and above situation does not arise.

Dear Sir/Madam

I have to prepare Balance sheet and Profit and Loss for Interiors Design Company. i have some doubt plz clarify me

1. May i prepare horizontal balancesheet or vertical balance sheet compulsory ?

2. Above said company turnover is less than 20 lakhs , notes are required or not?

Thanks and Regards

I am trying to register with Income tax india Website. I have E Mudra Class 2 Digital signature.

While registering in the USER ID it is shown that "" To be e-mailed to you after successful submission of form.""

But on uploading the digital signature certificate I have downloaded DSC utility In the Register / Reset Password using DSC option E filing USER ID is mandatory and I am not bale to generate signature file without USER ID.

but USER ID available only after submission of form and DSC is mandatory for submission.

How I can resolve this issue. ?

I am a final student and has completed one year eight months of articleship. I wish to do industrial training in my last year of articleship as I don't have much interest in practising. please suggest me on this and let me know vacancies for industrial training. Thank you Shruthi Prabhakar

I had applied for a LLP which was not accepted and has been marked as follows NEITHER THE NAME NOR OBJECTS CAN HAVE NBFI CONNOTATIONS...SUBMIT FRESH NAMES WITH REDRAFTED OBJECTS IN CONSONANCE
WITH NAME VAILABILITY RULES.
I have redrafted the objects as follows : 1. To Invest and/or Trade in Primary and Secondary Markets, Money Market and Derivative Instruments; Mutual Funds, Exchange Traded Funds,
Fixed Deposits and other Financial Instruments.
2. To Provide and/or Perform Financial Planning & Advise, Investment Consulting, and Wealth Management Services.
3. To Undertake Private Equity Investments and/or Provide Management Consulting, and/or Corporate Support Infrastructure and Services.
Please let me know whether Registrar will accept the above objects or not.Or else kindly re draft the objects based on your vast experience and expertise. Thanks a lot ...