Total Donations recd 24,33,802/- (Out of this, Rs.18 lacs donation recd in kind as Mobile school bus)
Less;
15% set apart 3,65,070/-
--------
Available balance 20,68,732/-

Expenditure on Trust Objects 11,31,646/-
---------
Bal positive 9,37,086/-

Tax@30% 2,81,125/- whether this is payable or no need to pay as they have 12A income tax exemption certificate

Just wanted to know from you, can we considered this 18 lacs amt of school bus as corpus fund or other earmarked fund instead of considering it in income to save the tax of Rs. 281,125/-

Dear Experts, One of my client DOB 09-01-1952 became senior citizen before 31-03-2012 and his taxable income from pension, interest and rent is Rs.1,91,103. Even though his income is below taxable limit, he is insisting me to file ITR for assessment year 2012-2013. I want to know is there any Income Tax Notification where senior citizens are exempt from filing Income Tax Return.I need a copy of that for onward submission. Regards, Pardeep Kapil

Dear All,

Facts of the case are,
1. A Trust is having income from interest as his main source of income. It has made Fixed Deposit in bank for a maturity period of three years. Interest is payable on maturity of 3 years.
2. Trust maintains accounts on cash basis.
3. Bank is deducting tax from interest which is not actually paid for first two yeas.
4. Bank has given whole amount of FD with interest (after deducting tax) on maturity.
5. Trust has not shown the interest income for the first two years as it is maintaining accounts on cash basis. It has booked its income in the third year and also claimed credit of tax for (all three years) in third year , as it is maintaining accounts on cash basis and it has filed a income tax return accordingly.
6. Income Tax office has denied to give refund of tax of last two years and given a reason that software on which they are working not allow them to grant the refund of previous two years.

Kindly guide us how to proceed to take the refund of earlier two years?

Thanks

please help me,I am totally confused about the ca cpt passing criteria some the website say's 30% per subject and some of the site say minimum 120 from 200

we are incorporating a new company and subscribers want to make the registered office on land situated at village in their name
my quary is
what proof we can attach for this land as we know that there is no clear addresses in villages
and there is no electricity or any bill as it is a land
and in registry of land, name of village is mentioned

pls advise

If a house is sold in March 2012 and proceeds are invested in flat which was booked in March 2010 under construction linked scheme of builder and instalments are being paid regularly till now. Then can amount paid from March 2011 till 31-08-2012 be deemed to be amount utilised for purchase of new property though the booking of flat was done in March 2010. Assume that proceeds are not invested in Capital Gain Scheme Account.

There is one project for which my company is incurring cost (including hiring employees specifically for that project), but the same will be billed by parent co. to client. My co. will in turn raise a bill on parent company for reimbursement of expenses incurred on that project. Will service tax be applicable on that bill raised for reimbursement of expenses to parent co.

If Valuation of Gratuity has been made by the Actuarial then will dat be allowed as exemption ....???

Sir

In my company one of the employee has taxable salary of Rs. 258000 uptill 31st december 2012 and want full and final payment but does not have PAN

now how tds should be calcuated i.e.
258000-200000)*10/100 OR

258000-200000) *20/100

AS I HAVE HEARD IF A PERSON DOES NOT HAVE PAN THEN TDS @ 20% SHOULD BE DEDUCTED

PLEASE CONFIRM WHETHER THIS RULE APPLIES ON SALARY INCOME AS WELL

YOUR EARLY RESPONSE WILL BE HIGHLY APPRICIATED

THANKS & REGARDS
DHEERAJ KUMAR

i need video of itsm ipcc urgently need help if any one have then share to me thanks may be of dinesh madan or moga sir