Dear Experts,

I am confused to calculate interest on TCS.

For Example, I have made the following sales of Scrap in Feb14 month.

Transaction Date - TCS amount
1 feb 14 ------------- 2000
7 feb 14 ------------- 3000
8 feb 14 ------------- 4000
9 feb 14 ------------- 5000
11feb 14 ------------- 2000
12feb 14 ------------- 4000
15feb 14 ------------- 3000
28feb 14 ------------- 2000

We have deposited TCS on 9th Mar14. Kindly advice, how to Calculate interest on TCS on above Transaction.

Dear Experts,

My Client is a Trust and ITR 7 has to be filed. Our CA has submitted the Audit Report manually within 30th Sept but not filed the Audit Report electronically. What are the penal provisions? Is there any way we can file it now without any penalty?

Dear All,
Please solve my query,

What is the consequence if the advance tax is not paid?
The reason behind not paying advance tax is that, the TDS amounts deducted for income is more than tax liability.
What is the procedure for such applications with the department.

Please provide the details.

Thanx in advance.

sir please tell is section 45(2) capital gain on conversion of capital asset is applicable in the following case:

xyz Pvt. Ltd. co. real estate co.

in balancesheet of last 4 years one property was shown as investments

and in current the above investment was transferred in Closing stock of the co.

now please tell is section 45(2) applicable, even the ownership of asset is same (ie.company's status is same)

The doctor whose case is referred here has now retired from a XYZ Hospital as a Urologist.
She’s getting professional fees (194J) as follows:
1. From a reputed hospital’s school of nursing for giving Lectures.

2. She’s also getting professional fees from multi speciality hospitals for giving consultation to their patients and surgery.

Please give your opinion as regards the taxability of the above services rendered by the doctor.

For F.Y.2013-14, she has already crossed Rs.10 lakhs from school of nursing & she is in the range of 5-6 lakhs for medical practices. For the previous year(i.e.F.Y.2012-13) her Gross Income was nearing 10lakhs but did not cross 10 lakhs.

Whether the doctor is liable to Service Tax?

I have received letter from the departt for not filing ITR.
some of the taxes of fy 2009-10 is still due. return is not filed of that fy.

WHAT SHOULD BE THE PERIOD FOR THE PURPOSE OF LEVYING THE INTEREST U/S 234A...

AS PER 234A, if return is not filed then period should be from the due date and upto the assessment u/s 144 etc.

PLEASE CLARIFY THE PERIOD TO BE TAKEN FOR 234A

Where it is mentioned that this notiication regarding manpower supply 75 and 25 calculation does not apply to compaines?

Dear Sir,

facts of the case are as under :

1.It is a proprietorship retail trading Firm.
2.Turnover during the year Rs. 59 lacs
3.Net Profit RS.182000/-
4.The assessee have not filed the Return.
5.A Notice from CIB(Income Tax) have been received for mentioning the total bank deposits ( AIR Basis).

Please suggest me to what action should be taken .
Thanks

A client company has done Invoicing in USD to Resident customers with instruction on the invoice to pay in INR at the spot rate at the day of payment .Is it Allowed ? IS there violation of any of the AS/Law in this ?What are the other repurcussions of the same?

Hi Experts,

I have got intimation 143(1) from IT dept.
It is Outstanding Tax payable for Assessment 2011-2012 year , On checking in details I found that while paying tax I have selected wrong assessment year 2010-2011.

Kindly let me know what is the procedure to get this done. It was filed offline by an agency in our office.

Regards