One of my friend filed IT return through an auditor for FY 12-13 and FY 11-12. While filing return self assessment tax was paid and in the challan Assessment year wrongly mentioned by the auditor while paying the tax. Now IT has served the demand notice and later upone advise from auditor went to central cpc zone we submitted the revised return mentioning the fact. It was denied and mentioned that
THE ASSESSEE HAS SUBMITTED AN E-FILED RECTIFICATION REQUEST, TICKING THE CATEGORY - 'TAX CREDIT MISMATCH' BOX, UNDER THE CATEGORY - 'TAX
PAYER IS CORRECTING DATA FOR TAX CREDIT MISMATCH ONLY'. AS SEEN FROM THE E-FILED RETURN OF INCOME, FILED BY THE ASSESSEE, THERE IS A
VARIANCE IN THE TAX CREDITS CLAIMED & ALLOWED. THIS VARIANCE IS DUE TO THE NON-AVAILABILITY IN THE ASSESSEE'S ACCOUNT, AS PER FORM.26AS OR
INCORRECT ENTRY OF THE AVAILABLE TAX CREDITS, IN SCH.TDS/TCS/IT/DDT/FBT. HENCE, THE ASSESSEE'S REQUEST FOR RECTIFICATION, UNDER THIS TYPE,
CANNOT BE ACCEPTED. THE ASSESSEE IS REQUIRED TO VIEW THE TAX CREDITS AVAILABLE, IN FORM 26AS, IN THE 'MY ACCOUNT' TAB, AFTER LOGGING IN TO
THE WEBSITE http://www.incometaxindiaefiling.gov.in AND ENTER THE EXACT DETAILS, IN THE RESPECTIVE SCHEDULES, BY OPENING THE 'MY ACCOUNT' TAB
THEREIN AND SELECTING 'TAX PAYER IS CORRECTING DATA FOR TAX CREDIT MISMATCH ONLY', UNDER THE RECTIFICATION REQUEST TYPE. THE ASSESSEE IS
THEN REQUIRED TO GENERATE & UPLOAD THE RECTIFICATION XML. IF THE TAX PAYMENTS CLAIMED, ARE NOT AVAILABLE IN ASSESSEE'S ACCOUNT, AS PER
FORM 26AS, THE ASSESSEE HAS TO GET THE SAME CORRECTED BY THE BANK/DEDUCTOR AND ALSO GET THE CORRECTED DATA UPLOADED TO OLTAS/NSDL
DATABASE. THE ASSESSEE IS THEN REQUIRED TO FILE AN ONLINE RECTIFICATION REQUEST, BY OPENING THE SAME 'MY ACCOUNT' TAB THEREIN AND TICKING
THE CATEGORY - 'TAX CREDIT MISMATCH' BOX, UNDER THE REQUEST TYPE - 'NO FURTHER DATA CORRECTION REQUIRED, REPROCESS THE CASE'.

Need experts suggetion how to rectify this issue and file the revised IT return for FY 12-13.
Can any one advise.
Regards,
Anantha krishna

Hi,

age: 32
assesment year 2013-2014.

I have filed my income tax return for the financial year 2012-2013 using itr4, since i have salary income + losses from option trading + savings bank interest. below are the details:

1. income from salary 602210 rs
2. dedcutions under 80c 28731 rs
3. deductions under 80D 2893 rs
4. income from bank saving interest 3088 rs
5. Loss from option trading -85903.18 rs
-------
1. TDS deducted 36571 rs
2. self assesment tax paid 8230 rs

I received a demand notice from IT dept, can anyone please help me what is my tax liability.

My friend has completed his articleship. He has forgotten to get his form 102 signed . Now he wants to know the consequences he could face due to this.
He is from punjab and has done his articleship from west bengal and he cannot come back for getting it signed.
Please reply as he is in deep tension.

Hi,

Please tell me what documents are required for d - vat registration for proprietorship firm .

Sir

one of My friend working AS Centring Labour at Construction.They Deducted TDS u/s 194c.

Now he wants file IT Return. Hence Which Return is Suitable

According my Openion ITR-4
AND

Company Director Remuneration: Which Return is Suitable for Director Remuneration

Hi,can any body tell about deferred tax....

Purchase Sold
Agreement date 4th june 11 2nd March 12
agreement value 8,50,000.00 1030000
registration 8,650.00 0
stampduty 48,500.00 0
Brokerage @ 2% 17,000.00 20,600.00
Total Cost 9,24,150.00 10,50,600.00

can you please advise how much tax i have to pay ?

is there any way to save tax

Whether stamp duty & registration forms part of cost of acquisition in calculating capital gain?

Dear Sir,

My query is regarding how to show speculation loss on shares (intra day shares transactions) in Income Tax Return.

Total of Speculation share sale Rs. 74,00,000/-

Total of Speculation shares purchase Rs. 75,00,000/-, Thus net loss of Rs. 100,000/-

Total of all net Plus differences (i.e. Profit) Rs. 50,000/-

Total of all net Minus differences (i.e. Loss) Rs. 150,000/-

Besides this, there is a professional income of Rs. 4,50,000/- (after all deductions) for which no accounts are maintained.

From above, I wish to know:
1) Which ITR to be filled in? whether will this appear under Capital Gain schedule?

2) How to show speculation shares transactions in the ITR? Do I need to show share sale and share purchase as sale and purchase in profit & loss account in ITR?

3) Or show Net Loss under No Account case.

4) Whether this speculation loss can be adjusted against Rs. 450,000, show Rs. 400,000/- under No Account case.

Kindly guide.
Regards,
Suraj

RESPECTED SIR,

MY AGE OF MY CLIENT IS 78 YEARS.

HE IS RESIDING WITH HER MARRIED DAUGHTER AS HE IS NOT HAVING ANY OTHER FAMILY MEMBERS.

AND HER MARRIED DAUGHTER IS THE ONLY ONE FAMILY MEMBER.

HE RECEIVED THE RETIREMENT AMOUNT AND WITH OTHER SAVINGS, HE GIFTED THE SUM OF RS 14,00,000 TO HER DAUGHTER BY CHEQUE.

DOES THIS GIFT AMOUNT WILL BE TAXABLE IN THE HAND OF DAUGHTER ?????