dear sir,
Iam associate with trading and software manufacturing company in Cochin. We are conducting import and export business.Now we are facing a serious issue in relating to purchase cost of imported good.
we get advise from our chartered accountant that we have to take rate from RBI rate in respect of date of invoice generated .they also quoted that we are liable to pay as per invoice .
As par as sale tax officer opinion that purchase cost of imported good should be on the basis of bill of entry.
kindly advise
Thanks®ards
Binu

Good evening one of my friend ge is an accountant in one hospital he excessly deducted the tds u/s 194j by Rs. 200000/- . Whether we can get refund or how we adjust the excess payment aganist further payments.

Dear Sir,

In Income Tax Act, stock is to be valued at cost price or market value whichever is less but in "Tally" stock is valued at average cost by default, so how can I value the closing stock in "Tally" as per the IT Act-1961.Please help me.



With Thanks & Regards
Ashutosh Kumar Jha
9534140352

A senior citizen having total income of around 200000 is holding a PAN card.Is he required to file Return?As per the latest rules ,if a person has some tax liability then he has to file tax returns even if his total income is below taxable limit.

finance act 2013-14 with slab rate
plz help me sir

Sir,
I have filed belated ITR1 for AY 12-13. By mistake Rs. 1 lac rebate u/s 80c remained to be shown, due to which ITax was shown as payable in ITR V, instead of refund due by claiming loss on 2nd House Property (rented) owned jointly. Sir, how can I rectify this mistake? Can I file ITR2 for refund?

One of my friend is actively involved in Intra day & F&O trading through a share broker and he incurred a loss of Approximately 4.00 lakhs in a financial year.

My questions with reference to above are as fallows

1. Applicability of sec 44AA
2. Applicability of sec 44AB
3. How to disclose in in ITR-4 (one of my colleague working in a CA firm advised to show the same under 44AD).
4. Is it mandatory to file IT return if involved in share trading.

correct me if I am wrong, Recently I viewed Tax Audit Guidance note issued by ICAI for knowing meaning of turnover for the purpose of maintaining books of accounts and applicability of Tax Audit, from that i concluded that turnover means cumulative of Profit/ loss from each individual transaction to considered.

Thanks in Advance.

i hav a query...i am doin ca.going to register for articlship..i also want to persue cs...i m confused that i should fill 112 form first or get registerd for icsi first...

can somebody please tell me what benefit of pursuing valuation course of ICAI?

If the self assessment tax is paid duly before the due date for filing the income tax return and if the return is filed belated u/s 139(4) can interest u/s 234A be charged by the income tax deptt. And if so how to pay it? Through chalan or do we need to file any particular form with the IT deptt.?

Thanks