Sir, kindly suggests on purchase of Mutual Funds units, as follows:-
1. What is the limit of maximum amount to invest in Mutual Funds units by an individual?
2. Is interest/dividend earned on Mutual funds units are taxable or exempt?
3. Is Mutual funds units are relevant for tax benefit for example equity or debt based etc.
4. Under which section, investment in mutual funds are covered?

144C. (1) The Assessing Officer shall, notwithstanding anything to the contrary contained in this Act, in the first instance, forward a draft of the proposed order of assessment (hereafter in this section referred to as the draft order) to the eligible assessee if he proposes to make, on or after the 1st day of October, 2009, any variation in the income or loss returned which is prejudicial to the interest of such assessee.

I have quoted as to what the section says.
my doubt is whether the term "variation of income" can be interpreted as change in the head of income also ? for example; the assessee charges income under the head capital gains and the assessing officer is of the view that the same has to be come under business income. will this amount to variation and income ?? Can the AO directly pass the final assessment order without passing the draft assessment order on the basis that change in head of income without changes being made in the value as such does not result in variation of income.
please help . thank you

Dear Sir

we are manufactures of Packaging Laminate Pouch Laminate paper laminate

can we issue for "c" Purchase of Material (1)Repair and Maintenance M/c item
(2) Consumable Item

Please suggest mi sir

(send mi list also for non related form c)

i filed my income tax return.

in which i showed profit less than 8% of my gross sale. and also the profit less than exemption limit.


but i didn't conduct my audit u/s 44AD.

now deptt issues the notice u/s 139(9).

plzzzzzzzzz tell me wat to do..??

am i did anything wrong?

dear sir,
my client of india made a company in uk & he is going to provide service outstide india only & bring payment in india,whethe he is liable for sevice tax or not?

I have mistakenly forget to paid the TDS on professional which is working under me before 7th of May for the month of April.

Amount which need to paid = 10566

Now, I visit various website and understood the concept and Now , I need to pay 3% as interest because of two months April and May.

So,
Amount which need to paid = 10566
Interest should be =317

Please confirm Am i correct??

If no the please let me know what is the inetrest

i have an opening DTL of rs 635. in current year my depreciation as per companies act is 8494 and as per IT act is 7801. plz suggest me how to create DTA or DTL in this case. And plz specify the whole treatment of DTA and DTL in the above situation. what are the all journal entries i have to pass. please help me.

Request for clarification for AP Vat on MRP Items

which date exchange rate shall be taken for purchase import A/C value

1. I would like to know entire procedure to gift flat to relative
2. And how to show this gift transaction in Income Tax Return