I am a government employee i hv file my ITR-1 However by mistake in TDS i hv give wrong TAN of my employer so Income tax department raised demand in Intimation 143(1) with Interest.I hv rectify my return by rectification menu on Income Tax site but it is in process.
My question is weather i hv to pay Tax on demand notice as it is written in notice that you hv to pay tax within 30 days of receipt of this Intimation???

if a person having income from business and profession, failed to file his return upto 31st July
What is penalty or interest or both, for him, for non-filing of return on time ?

Basic..........................234500
Children Education Allowance...9250
Transport Allowance............10500
Leave Encashment.................7000
Bonus............................36593
Gross Total Income..............297843
Less:-Exempted allowance
Transport allowance@800p.m.......9600
Taxable income...................288243
These are my details...Whether ITR-2 to be filled?

Taxable Income - 742722
Tax - 78544
Cess @ 3% - 2356
Interest - 5711
TOTAL Tax - 86611

TDS
Salary - 5500
Other - 1130 - 6630

Tax Payable - 79980

Now while paying tax, how to show bifurfication of tax amount.
79980 total in tax amount or 5711 will be shown as interest and remaining as tax and cess

Sir,
Our company is a small listed company listed at BSE. Now we have to modify the objects of the company.

1. Is it sufficient to put in AGM Approval
or
2. We have to conduct Postal ballot is compulsorily?

Pl. advise the procedure.

Altd has an asset of Rs 1 lakh which it depreciates at 10% on SLM mtd. At end of 5th yr, it sells asset at Rs 60,000.
In the above context what shall be Depreciation amt?
Depreciation = 1,00,000 X 10% X 4 yrs
OR
1,00,000 X 10% X 5 yrs

hie
I posted a link in the category of news, but it said that Sorry, no such thread exist please navigate through forum page. then I posted the same on forum page and got the same message. When I tried for the third time, the message came that you already posted two messages and now you can post only on 29 July. But I am not able to see my post on the forum page or news page. Please guide.

An entity(not a company) is engaged in running one Pre-nursery school and planning to open many more in future under a brand name.

For now FY13-14 they are incurring expenditure for food as meals for children and buys raw material like milk, fruits etc. Though this expense is revenue , I want to know the treatment of Kitchen crockery & cutlery and appliances like oven,juicer, stove etc, whether they are to be capitalised or not. If they are to be capitalised then what should be rate of depreciation and if they are to be amortised, then the manner and disclosure in notes on accounts



Also they have incurred hugh expense over toys ( vehicles, animals, first aid etc) for around 10 lacs, in addition to that they also bought a jumbo micky house alone costing near 4lacs, whether all these should be capitalised and what should be depreciation rate?



In FY12-13 they have incurred expenditure both revenue and capital but no commencement of business happen, whether revenue expenditure be treated as pre-operative expenditure? It should be capitalised to fixed asset or treated as Deferred revenue expenditure?



Thanks

Hello Sir,

I want to know if a person is getting taxable salary and his investemt is enough to reduce the tax at zero .

in this case no tds will be deducted by the employer at the time of payment .

whether employee is liable to get tds certificate.

can i take the benifit of Presumptive taxation U/s 44AD for the salary income for a partner ,Received from A partnership firm ?