Hi, I am a salaried employee. I have received an intimation (Yr12-13) from IT dept with a 'NET AMOUNT PAYABLE'. The column 'As Computed Under Section 143(1)'has not considered the tax+interest I paid against 'SELF ASSESSMENT TAX'. But the amount is there under the column "As Provided by Taxpayer in Return of Income". Also now the interest is calculated with a date of April/May 2013 instead of 31July-13, under "As Computed Under Section 143(1)". I can see the amount remitted by me is in a section "Details of Unmatched Tax Payment Claims". I checked the data entered in the excel sheet and it is correct. accordingly I paid the "SELF ASSESSMENT TAX". What could be the reason of this mismatch and why they have not considered the amount I paid as "SELF ASSESSMENT TAX"? I filed the return of 2011-12 (ITR1-) in the same way and I got the intimation with zero amount payable/refund. I am seeking for your expert suggestions and clarifications. Thanks.
Note : TDS details in the intimation is correct. Issue is only with interest calculation and not considering the self assessment tax paid.

Sir
I am in my 3rd year of articleship, my finals are due in nov13 and my principal wants me to take transfer from him. I have sent an application for the request of transfer on 22nd may but have not received any reply yet. I have to fill the exam form in july and in that my principal has to mention that i am serving under him for my last 6 months in articleship which he will not do as he wants me to take transfer. So how can i fill my exam form if i dont get reply from the institute till that time. I called the kanpur helpdesk but they say it takes more than 2 months for reply. What shall I do now?

Dear all ,

A client company had cenvat credit of Rs 455/- for the quarter Jan-Mar'13.
In the Quarter April'13 to June'13 output s.tax Rs5204/-

After deductions Cenvat credit Rs=5204-455=4749 but by mistake Rd 5204 has been deposited instead of taking cenvat credit of Rs 4749/-

Plz advice was to do?

We are a growing software company in India and provide tailored softwares to our client base in USA. We are paid in USD and sometimes in INR. My question is, are we required to pay Service Tax on our abroad transactions or is exempted, since we are exporting our services.

Please Guide Anyone !!

Dear all ,

A client company had cenvat credit of Rs 455/- for the quarter Jan-Mar'13.
In the Quarter April'13 to June'13 output s.tax Rs5204/-

After deductions Cenvat credit Rs=5204-455=4749 but by mistake Rd 5204 has been deposited instead of taking cenvat credit of Rs 4749/-

Plz advice was to do?

Dear members

There is a company in our group which is a listed NBFC Company, the main business of which is finance and apart from that it is carrying on the business of electricity generation.

As per Cost Accounting Records (Electricity Industry) Rules, 2011, every company which is engaged in the production, processing or manufacturing of electricity activity is covered under the said rule.

1) Now my question is whether the said rule is applicable for our company because the core business of the company is finance.

2) And the 2nd question is that there is a proviso clause in the said rule that these rules shall not apply to a body corporate governed by any special Act.
So can NBFC be considered under Special Act ?

Kindly help me in removing my doubts.

What is in the Sec 194I (a) & Sec 194I (b) of the I T Act-1961. please help.



Thanking you
Ashutosh Kr Jha

My quari is related to job work client provid the paper for printing and we are use ink plats for printing electricity for printing how many tax should be charg and please clearify the entry

Can we file return for the AY for which we have already given Form 15G/H ? or is it possible to allow one source of income to deduct TAX & to issue Form 15G/H to others?

A friend of mine had sold an ancestral property. Right now he is not planning to purchase a new property. Now as per my knowledge he has the following options :
(1) To keep the money in a Capital Gain A/c with bank (2) Invest in Govt. Bonds (REC or National Highway)
I would like to know the following : Is there any lock-in-period for both the options? If the money is kept for full lock-in-period in bank or bonds, then money withdrawn after full term is taxfree or not?