Dear sir,

as per my query that i used my car in bussiness & personal both so i want to ask that how to depreciated it and how to pass the adjustment entry in books and also know that which percentage is deducted from profit & loss A/c and Computation of Income tax when car is used business & Personally both. Please reply soon

Thanks & Regrads,
Shiv

A company engaged in the business of constructing and selling the commercial premises. In one of the building, the company has some unsold units. Such units are given on long term lease ( 5 yrs). However, the said units would be ultimately sold in future. The company is paying the common area maintenance charges to the Society.

Whether such lease rental should be treated as income from house property or business income?

Dear Expert,

We are a private limited company.

During the last financial year i.e. 2012-13, one of our Vehicle has been stolen.

Claim has be submitted to the Insurance Company.

Does in this case are we entitled to claim Depreciation for full year for said vehicle.

Also please advise, is there any requirement of disclose this theft in Audit Report by the Auditors of the Company.

Thanking you,

Mohan Saxena

Dear Experts,

What is bank guarantee ?


What are different types of BGs?

Hi Sir,

I have cleared my ipcc after TYBcom, i had applied for both the IPCC group but i was failed. can u tell me when i m eligible to start my articleship??? is there any provision to start articleship without passing IPCC??????? so it can save my time.


kindly reply ASAP.

I want to know whether while preparing financial statements according to companies act,we could apply WDV method & calculate depreciation as per block concept in IT ACT?We will give a note regarding this in the notes to accounts.

Very Good afternoon

Dear Expert

How to deduct TDS on a invoice ? Is the TDS applicable on date of invoice or recieving date of invoice ?
It will be great if you can tell me about interest charge on late payment of tds with a comprehensive example

Thanks & regrads

Dear Sir,

One of our employess has given a form 10-I under section 80 DDB for considering it in Form 16.
Although we have deducted TDS without considering this deduction, employess has asked us to mention Rs. 40,000 under section 80 DDB in Form 16, so that he can claim refund from Income Tax department.
My query is whether we need to mention it in Form 16 or not.

Also Fom 10-I submitted by employee is in prescribed form & signed by Govt Doctor but it does not specify the percentage of disability. can we still consider it.

Hello Folks,

In my Income Tax e-Filing web site page:
On Return Form/Status for each Assessment Year ,
I notice that for my AY2008-2009:
Return Status Description is "Return Uploaded"

I believe this mean my ITR for AY2008-2009 has been filed but the Income tax department didn't received the Hard copy of the ITR filed.

So,
* Now can i only re-send the Signed Hard Copy of my ITR form to Income Tax department(ITD).
* Or i need to re-upload the ITR form again and then send the Hard copy to ITD.

Appreciate your quick help/suggestion on this.

Thanks.

Hello All,

It is humbly requested to provide proper advice on my situation, explained below:

I have filed ITR-1 on 14-06-12 for AY 12-13 (before end date), and after one year from filing ITR-1, I recently received intimitation under 143(1) that demand is determined.

I closely looked at my own case and found that in my ITR-1, I should have mentioned 2 TAN of my deductors (as I have worked in 2 companies in that FY), mistake from my end was that I added the total income of both the deductors and filed with total dax deducted against the name of my latest employer.

I corrected the mistake by going onto the online tax filing website-->Went to My account section--> Raised a rectification request --> now added both the TAN of two deductors --> submitted it. Now my questions are as follows:

1) Will the income tax deptt. understand and automatically correct the data and send me a new correct intimation under 143(1)?

2) Do I need to ask for rectification order under sec.154? If I do this then will the IT deptt. consider my already made rectification request and send new IT calc. intimation.

3) Is the rectification order under sec.154, a final order of demand/refund? and after this no change is possible in IT calc.?

Thanks in advance,

Mayank