a retailer whose turnover for last 4 year endings 13/03/09 Rs.655140 31/03/10 Rs.682200
31/03/11 Rs.725000 and for 31/03/12 Rs.7915120. This sudden rise is due change in
format of business, retailer to wholesaler
Now for incometax purpose he submitted his
return on the basis of sec 44AD maintaining
8% profit.Now AO wants to impose panatly for
year end 31/03/12.Is there any points to
challenge AO ?

Dear Expert,
We (Ltd Co) hire a Diesel Generator for Use of our Factory.

Party (Proprietorship firm) raises Invoice of RS. 18000/- without charging any service Tax on Bill.

My query is who is liable to pay service tax?

Is this covered under Reverse Charge Mechanism? If yes then is there any abatement available.

Pls reply its urgent

Regards,
M.Agarwal

i hav a doubt regarding rate of tds incase of other person. as per law tds in case of other person is 2%. (excluding ind. and huf).

my client deduct tds of a individual @ 1%. but i want to know if the same individual (having tax audit u/s 44AB)then
whether we required to tds @ 2%
plz reply......

respected sir,
how much capital we can introduce to the balace sheet for the first time assessment.please discuss
thanking you

I have filed ITR online for assessment year 2013-14 on 6th August, 2013 with my digital signature. But till today, my ITR is not processed by CPC ? my question is what to do get refund fast ?

I have filled ITR2 for FY 2010-11 on time. Some Amount was shown as refund & the refund was received by me in year 2012-13. Now, I have received Verification Notice from IT dept asking for "Verification of Interest from Co-op Banks/ Credit Societies". Although I have cross verified 26A from Income Tax Website, it is same as per ITR2 filled. Now, please help me to solve this issue.

Awaiting your reply.

Dear Sir,
I had mentioned articleship commencement date as 15 March and Franking date is 25 March.

My principal is out of station at rajasthan.
He has not yet send me the signed form.

What option is now available with me.

If I pay late fee then ICAI will ask me a lot of query ( I had already made the DD of 2,000).

Or should I correct the date by whitener and make the commencement date as 25 March.

Please do relpy at the earliest

I had fixed deposit with obc bank but PAN was not allotted at the time of maturity. Bank deducted 20% TDS. later on I got PAN and updated with bank. Bank is not giving TDS certificate from Traces as PAN was not available. I can't get credit also.

What is the procedure to get refund of 20% TDS deducted by the bank?

As per TRACES customer care, bank has to revise the return & it should be reflect in my 26AS form. But bank not agree to revise the return for the related period.

Is there any obligation of Deductor (Bank) to revise the return as per Income Tax Act.

Sir,

Can you please tell me that should i take the job of Back end process in operations or finance of a renowned company?
Actually i am in CS Finals and on payroll in a listed company already.

Is Cash Credit Facility from banks for working capital a part of current liabilities?

In the old schd VI it was shown under the head Secured Loans but in the revised Schd VI it has been covered under Current Liabilities .

By taking the Cash Credit in Current Liabilities, it adversely effects to derive the net working capital (Current Assets-Current Liabilities.)

pl clear the status at the earliest.

thanking you