For fy 5-6 and 6-7 I showed my income from chemist shop business which was below taxable limit. After that till today I am showing my income from insurance commission only which is again below the taxable limit in all those years. But during these years also I had income from my chemist shop. For fy 11-12 also I showed income from commission only. But now I want to revise the return for fy 11-12 and show my shop income also. Should I do so? Is there any chance for scrutiny assessment?

Dear Experts,
My query is that if I have made purchases from an Un-registered dealer,then should I have to pay tax on same.And if yes then should I have to pay tax on bill amt or should I assume that it is already included in bill amount..... And After that in which column should i update in VAT Return website. please help me out in this problem..

Is deduction u/s 80IC is available in case no direct sale from the eligible units bt through its various branches situated in other states?

we are paying remuration to director 45 lakhs each the company is private limited company having profits 1. crore before tax as per company new bill can continue to pay

I have been the statutory auditor of Private limited company since 2008 can continue as statutory audtitor or rotation applicable

For one of my client has 250000 refund during the FY 10-11. But this refund amount has been adjusted against arrears amount outstanding in his account for FY 2007-08. In FY 2007-08 demand notice has been raised by income tax department and we submitted the required document and assessment also completed after detailed hearing. Can you guide me how to solve this issue.

Regards,
Sundar.G

Hi There,

Years ago POST OFFICES had Indra Vikas Patra. Where your money would double after 5 years.

Can anyone tell me which year this scheme started and which year this scheme ended.

I have googled alot but there is info only about Kisan Vikas Patra. And only available info is Indra Vikas Patra scheme is now closed. But I want to know which year this scheme closed/withdrawn. If the 5 year double amount was not called indra vikas patra. Then can you please tell which year the 5 years double money scheme closed.

Thanks alot

I am a member of the Employees Provident Fund and have been voluntarily contributing 100% of my basic salary (Rs.6,500/- per month) for the last several years.

I am not married and do not intend to get married or raise a family. I have the following members in my family:
a)my 82-year old mother
b)one married brother
c)two married sisters
I have just come across 2 clauses in the EPF scheme :

1)"If a member has a family at the time of making a nomination, the nomination shall be in favour of one or more persons belonging to his family.
Any nomination made by such member in favour of a person not belonging to his family shall be invalid."

2)"a family” means—
(i) in the case of a male member, his wife, his children, whether married or unmarried, his dependant parents and his deceased son’s
widow and children."
I have nominated my 82-year old mother. However, she has her own sources of income like bank interest, rental income, etc. and files her own Income Tax Returns. But she lives with me in my house and I look after her well-being. Can she still be classified as a "dependant" parent? Other than my old mother, I have no "family" as defined in the Provident Fund Act, and hence no other choice.

My queries are:

a)whether, my nomination of my mother as my "dependant" parent is valid and correct,

b)that the entire amount(corpus) in my EPF account will be handed over to my mother without any undue complications in the eventuality of my death,

c)can I appoint my sister or brother or nephew as my nominee, if my mother pre-deceases me (dies before me), and as long as I am not married even thereafter and do not have a "family" as defined in point 2 above? When I cease to have a "family" as per the EPF rules, can I nominate any other close relative and the entire accumulations will then be paid to this nominee without complications in the eventuality of my death?

Dear Sirs, I shall be grateful to receive your advice and guidance.

Thanks and Best Regards/Kapil Tiwari

Dear Professional colleagues,
i working in Automotive Engg units
most of our work done through Import& exports we import the Raw Product & manufacturing(fully or Semi) to Sell it out of India(Export)
As a Account Point of View what the Procedure i have to follow (Import & Export) Pls also tell about the duty draw back
kindly narrate with Illustration
we did customs work through (CIF)Agent
i want do the work independently.
pls consider my case
thanks karthik

dear all,

supplying of labour is contract or not?

if yes, under which contract it is going on