Suppose an assessee is having a salaried income from 2 companies A & B. He has received salary of Rs.10 lakhs from A co. & 12 lakhs from B co..While filing his income tax return he has not shown the salary received from co. B on which TDS was deducted of Rs. 360000.Now the assessing officer has leived a penalty under Section 271.He has leived a penalty on tax liability which arises on Rs.10 lakhs+12 lakhs.But on the tax liability which arises on 12 lakhs TDS of Rs. 360000 has already been paid. Whether he should levy penalty only on the amount less deducted as TDS ?? He is referring to Tax evasion .Is his opinion Right ? Is this a tax evasion from the assesse's point of view???

I am B.COM from India. At present I am in Saudi Arabia working as an Accountant. I would like to pursue CA may I know how can I register online & do I need to take CPT exam.

Is TDS deductible u/s. 194A from the interest component in EMIs payable to (i) Financial Institutes (b) Banks ? If so, then what is the threshold limit for deduction?

Dear Experts

Can a husband give interest free loan to his wife? If yes then how by cash or by transfer amount in wife's account. Please explain the whole procedure in brief. Please provide loan agreement and tell to whom I or my wife show this agreement, to bank as income source by wife or to Income tax department by me and wife that I give loan and she receive the loan ? Loan amount would be 15 to 20 lacs.My wife has no other income.

If my wife invest this money in FD or any other instruments then me or she liable to show this in our return or not.


Thanks

Company has been entered into an agreement with an Individual; for supply of 30 persons per day for loading/unloading of material at customer's shop.
serivce provider charge in bill on per piece basis (i.e. 0.75 Rs/piece.
Is this covered under Labour Contract or under Manpower Supply on which RCM is applicable.
Please guide me, its urgent.

Dear Sir,

We furnished all of our Form 15G details in our ETDS return filed. Is it enough or we should seperatley filed phsical form to income Tax dept.

Kindly help on the next procedure with detailed in this regard.

Thanks to all…

Our company hired a banquet hall for annual meet of employees. The Hotel raised different invoices as under -
1. Platform with skirting, Sound Sytem etc- Rs. 17244
2. Buffet Lunch - Rs. 94600
3. Buffet Dinner - Rs. 86000
4. DJ Charges - Rs. 14000

Now TDS is applicable under which section and on all the invoices?

can anyone answer me
my article ship is 1 year n 2 month completed if now i like to transfer n if my principal is give me transfer n sign than i need to give reason for transfer n it's easy to get or not

What is the procedure for termination of articles by principal only when the student has not turned up to the office for a period of more than 6 months and also when repeated reminders went on vain. kindly let us know the required procedure to be followed.

According to section 141(3)(g) Companies Act 2013 read with Companies (Audit and Auditors) Rules, 2014 a person who is in full time employment elsewhere or a person or a partner of a firm holding appointment as its auditor, if such persons or partner is at the date of such appointment or reappointment holding appointment as auditor of more than twenty companies shall not be eligible for appointment as an auditor of a company.

In the provision neither private company nor small companies are excluded from the limit of 20. Therefore a chartered Accountant or a firm of chartered Accountant only accept audit of those companies which can pay high audit fees. In that case small companies & private companies may not be able to appoint a Auditor. In such event whether small companies & private companies will be allowed to file Balance sheet & Statement of profit & loss without Audit Report.