hi friends, I have wrongly file ITR for ay 2011-12 in form, but it was for ay 2012-13. now what to do kindly suggest thanks

hai friends , goods were purchased by manufacturer and seller levied excise duty on the product . product was received in stores and stores raised miir and send a copy to accounts dept . my doubt is when will the manufacturer take credit on such goods 1. at factory , 2. in accounts dept or if at different place pls specify.

Hi experts,

My wife is a home maker. She is currently doing multiple small businesses from home which includes the following.

1. Teaching people to Craft, Paper quilling, Terracotta jewelry making, flower making etc. She charges on a per hour basis or a package basis case by case. Most of her students include, friends, relatives, neighbors.

2. She also makes art works and sells them to a couple of nearby gift shops.

She deposits her monthly earnings by cash (which varies by season) in a bank either in fixed deposits or recurring deposits. She has given her PAN in the bank as well.

I checked her previous financial year interest earned and it is below 2 lakh.

Questions:

1. Should my wife still file an income tax return or do any e-filing? She hasn't mentioned any source of income / employment in her PAN card application when she applied.
2. Till now the bank or any IT department hasn't asked her the source of her income. Will it become a problem if her bank balance goes up in FDs?

Please advise both as per the law and as per the latest trend of people in such cases.

Note: She cannot get or provide any receipts in her home business.

1) I'd registered for my articleship on 15th April 2013.

Now I want to take a transfer. My boss is ready to give transfer provided that I work till 14th April. I'm okay with working till 14th April.

As per the rules we can take transfer within 1st year so will I be eligible to take a transfer exactly on 14th April 2014?

Fill I face any problem?


2)My current firm is in my hometown, ie, Khandala, where there isn't enough exposure o te articles so I'm taking a transfer to Pune city.
The distance between Khandala and Pune is 62 kms. There is a good local train facility which helps for easy transport.

Will ICAI raise any issue if I take transfer to Pune city?

(a friend of mine was telling me about some 50kms rule. I dont know about it, please explain if any such rule exists).

Hello Experts,
I'm in my first year of articleship and now I've taken a transfer.
My old principal signed my form 109.

Now I'm joining another firm. While filling form 103 there is an option no 17 where they ask you about your other courses.
I've already filled form no 112 during my initial registration.

Am I suppose to again submit form 112?

Hi,
I got an exemption is CA Final Nov-2013 in Costing(Paper 5)with 61 Marks but dint clear in rest 7 subjects.

I have applied for both the groups i.e. pending 7 subjects in May2014 CA Final Exams.

Query:

Can I use my Paper 5 exemption in Group1 to set off and make an aggregate?

for example if i score:
Paper1 - 40
Paper2 - 40
Paper3 - 40
Paper4 - 40
TOTAL-----------160

Paper5 - 61 EX in Nov2013
Paper6 - 60
Paper7 - 60
Paper8 - 60
TOTAL-----------241

GRAND TOTAL ----401

Is this Possible?
Can i set of my exemption in Group1

Hi.....
My Father has Purchased N.A. Land in the year 2005 & it sold in 2013, Now the payment will received in partially (i.e. It comes in periodically up to 2015, Now I want to know What is the tax treatment for the same. Whether the Tax on sale of the Land (i.e. Capital Gain of Full Amt.) to be payable in this F.Y. or It will be payable in respective year of receipts of the payments. (Note : Only Ragistered Banakhat is made, Dastavej (Registration of Sale Deed) will be done in 2015. i.e. After receipts of the full payment)

Assesse (company) hires a cab for an year and makes payment monthly on actual usage of cab (km run basis). Assesse provide as an when advances during the month and also provides diesel to cab operator (which is adjustable with final payment). Now issue relates to the TDS on which amount and how to deal with book entry of diesel etc. Lets take an example:
As on 5th Feb, 2014 advance made: 10000
As on 7th Feb, 2014 diesel provided: 5000 (through credit card or other arrangement with Petrol Pump) further it is adjustable with the final payment of the month. It is also chargeable with 4%.

Now as on 28 th Feb, 2014 final payment is calculated as per actual km run is 47500/-
Calculation is as below:
Final payable: 47500
Adv(as above) : (10000)
Diesel (as above): (5000 )
4% charge for financial support (600) (4% of (10000+5000)
31900 (to be paid in cash/bank)

Now the issue is how to deduct TDS. I am sure that TDS to be deducted on total expenses which is 47500 but how to deal with different transaction during the month. Please suggest. Thanks!

in the reverse charge mechanism how entry will be passed.

please tell me in detail.

Thanking you,

I am a salaried person & before 2 years purchase a house property in Mumbai with bank loan & claim u/s.80c. This year purchase another house property in Nashik with bank loan. Kindly suggest me how can I get benefit from another property or how to present in my IT computation?