It is seen that the incometax department do not issue refund of amount less than Rs.100/- also do not raise demand for amount less than Rs.100/-. Is there any notification / circular / provision / rules in this regard, pl. provide same. Thanks

Since last few days I cannot efile IT Return. Whenever i download the ITR, a error message appear on the screen "Compile error in hidden module"under heading Microsoft Visual Basic. I have tried my best to solve the problems, but failed. Can anyone help me by providing solution of the above problem ?
I will be very grateful.

I have created a private limited company in india and now i want to create subsidiary of the same in singapore...........I want to invest in the subsidiary through the direct route mentioned in the FDI circular of the RBI but in the circular it is given that indian comapany can invest upto 400% of its share capital plus reserves as shown in the last audited balance sheet.....my company is new one so what formalities are there for such company? As it is just formed in the month of january 2013 there is no audited balance sheet for the same then how much i can invest in the subsidiary ?

GOOD EVENING SIR,
I TAKE A HOME LOAN AMOUNT OF 12 LAKH.AND MY PER MONTH EMI IS 12 THOUSAND WITH INTEREST(9000+3000=12000).THAN SIR CAN I TEKE DEDUCTION OF INTEREST U/S 24 AND DEDUCTION OF PRINCIPAL AMOUNT U/S 80C IN HOME LOAN.WHILE I AM ALREADY LIVE IN THIS HOUSE.

Dear experts,
please give me the negative list of services

I have a piece of land that belongs to MIDC which i have taken on lease for 90 years. I wanted to construct a petrol pump on the said land for which NOC is aleady given by MIDC.

Now a power plant wishes to drag a high tension transmission line right over the land. As a result, i cannot construct Petrol Pump on the said land.

However the Power Generating co. has offered me a compensation. I wish to know the Tax implication for the receipt of compensation with refence to the following points..

1. The land is a Lease hold Land and not owned by me.

2. I have not yet started the Petrol Pump, so no business Income from the Land.

Kindly suggest under what Head the the compensation will be taxable and the rate of the tax for the same. Also let me know the section.

Hello everyone,

i have to draft the partnership deed of a firm engaged in the business of construction.
it has three partners having equal shares.

i have read the income tax act and one of the conidtion in sec 40b for allowing the remuneration is that "IT SHOULD BE AUTHORISED BY AND IN ACCORDANCE WITH THE PARTNERSHIP DEED".

My question : How should i draft the clause so that remuneration should be as per the income tax act.

Good Evening,

Company incorporation / preliminary expenses written off can be shown in other current assets (in Revised Sch VI) or not?
OR
How to account....

please clarify

thanking you

Whether Liasion office is required to file IT return? Since liasion office cannot earn any income. explain with relevant provisions.

In mrp based duty it is possible that bcd higher then cvd?