Sir then what is the purpose of form 112 and 122?

Dear Sir,

Pls tell me that which account head will debit for bike challan ( without helmet ) exp.
Regards,
Rahul Mehra

Dear Sir,
Suppose total sale is Rs. 10 lacs and VAT charged is Rs. 50000/-, which is seperatly shown in bill book.

Here our net profit @8% would be calculate on Rs. 10 lacs
or
It would be calculate on Rs.10.50 lacs.

Please clarify.

1 VALUE OF LEAVE TRAVEL CONCESSION: Any concession received by employee for himself or his family for travelling to any place in India is exempt to the extent of amount spent subject to the following conditions: 1. Exemption only for two journeys in a block of four years and out of two journeys exemption for one journey can be claimed in the calendar year succeeding the end of the block. [current block: 2010-13] 2. Exemption only for two children but exemption will be available for all children born before October 1, 1998 Plz explain me this stuff..ESPECIALLY the 1ST POINT...PLZ

Hello,
can i anyone plz tell me bout e-sip.......i want to know bout e-sip online program......also one thng more.....we have to give mastery test in presence of webcam or not.......nd how are the mastery test is the test simple or difficult.....nd is timer in the mastery test or not.......reply soon.

Hello.... Ders a problem with my admit card. Ders half sign of mine. So shud I download new admit card or d original is okay?? Reply asap

Dear sir,

SUb - ROC

when i uploading Form 20AC than asked for additional attachment sheet even my form 20AC is less than 2.5 MB
plz suggest me

Can anyone help me out by giving your valuable suggestions. Actually the query is I'm doing the degree 2nd year ( regular) and I have passed IPCC group 1 and I'm doing the articles now when I called the institute they said there will be problem at the time of member ship certificate. So please someone suggest me as early as possible.

is thr any one who got exemption in any subject and less than 20 in any other????

An assessee had purchased a house property in 2005-06. The source for this was housing loan of Rs.20 lacs from bank and gift from his parents and in laws amounting to Rs.12 lacs. During scrutiny assessment, the assessee has submitted proof for the source. However the ITO is not convinced about the gift from relatives and has decided to disallow Rs.3 lacs on estimate basis. On this disallowance, tax amounts to Rs.1.3 lacs including interest.
Although the assessee has sufficient proof, he is ready to pay this amount to buy peace. If penalty is levied, he would rather prefer to appeal, since he is sure of winning the case.

Query: Is the assessing officer, after passing order with only tax and interest, in a position to levy penalty u/s 271? Whether imposing penalty in scrutiny assessment is compulsory or discretionary on the part of IT department?

An early reply is requested since the assessee has to pay tax within October end and he has to be advised whether to pay the tax and interest, or to prefer proceedings for appeal .