gross salary include rs 39560 as conveyance allowance whichis exempt u/s10 and in form 26AS it is included in amount credited to employee i.e. in 26AS gross salary is shown. and in form16, conveyance allowance has been shown as deuction and net salary is taxable. so in efiling excel utility ITR 1 it is written that itr 1 is not applicable when exempt income is in excess od rs5000. so now which ITR form is apply and what salry income to show in efiling i.e salary net of conveyance allowance or including conveyance allowance because in 26AS it is include in amount credited but shown as deduction in form16. if i show without deduction then it will match with amount in 26AS and tax liablty will arise but onveyance allowance is exempt and if show net od conveyance allowance then it will not match with amount shown in 26AS and depatt will send demand notice what to do

Our company has share application money pending allotment it is a private limited company. My query is is there any time limit within which the shares are to be alloted. Further can a private company convert its loans into shares.
If we are not alloted the share then any interest provision apply .

Kindly advise as per section.

Read more at: https://www.caclubindia.com/forum/share-application-money-pending-allotment-135440.asp

sir, I need a vat clearance certificate for my client in maharashtra.....please tell me how to apply for it & how much tim it will take obtain the certificate (approximately).he holds VAT tin No. in maharashtra.....

Hai all..
I am currently finalizing A/cs of a public company for FY 2012-13. But I am facing a problem of cash shortage from the beginning of d year as most of cash payments are made out of chairman's personal fund,which can't be a/ced due to many reason.But sufficient cash balance is their by end of the year. How can I adjust cash balance in the beginning by way of loan or something. Thanks in advance.

If an employee's salary is higher than 6,500 & Employer is deducting PF on whole salary i.e. above 6,500, than what is the liability of employer towards employer's contribution?
Is it necessary for an employer to pay PF on whole salary? Or contribution is restricted to Rs. 6,500 only?
Kindly reply with link.

What is funding ?

can husband and wife only be partners in a partnership firm for doing business? if yes then wt wii be tax treatment in the hands of partners ?

hw to study law so that i can score good marks

Hi,
I have filled advance tax for the A.Y. 2012-13. But my PAN No. was wrongly entered by bank on Advance Tax challan & I didn't notice that time. Now, I have got an intimation from department that I have not filled advance tax.
So, Please let suggest me, how can I rectify this.
Thanking Yours.

Dear Sir,
One of assessee had done work contract in fy 2010-11, and his gross receipts are Rs. 1900000/- and tds deducted thereon is Rs. 19000/-. That assessee did not file his IT return for the same year.

Now he has received an non-statutory intimation from department asking him that he has received the sum of Rs. 19 lacs and submit his response within 7 days of receipt of this intimation.

Now please advise me on following points -


1. What should I state in responce of that intimation.

2. Whether the IT return for the AY 2011-12 can be file now in responce of that intimation.

3. Whether the assessee can seek his refund by opting section 44AD, then his net profit would come to Rs. 156000/- which is below exemption limit.

4. What are the enclosers that I should enclose with my responce.


Please reply soon, its urgent.

Thanks in advance.