dear sir,
I am a salaried assessee. My Gross Salary Income in FY 07-08 was 120000/-. I paid LIC premium of my wife(unemployed)-10000/-. So net Income 110000/-, below thrshhold limit. So no tax liability. Now, my question is (a) Should I get & attach it with ITR, Form 16 for 120000/- ? No TDS was deducted-as net income is 110000/-.(b)How much and under which section penalty will be levied on me for late filing of ITR ? Pl. soecify this sction no. because, when I went on 28.8.09 to file this ITR, i.Tax Inspector told me that for late filing of this ITR, you will receive notice from us u/s 271 for penalty of 10000/-. he also asked me to attach form 16. Is he right for both the querry ??

thanks, sir

Transporter transport material of our company on dtd 31/03/09 but bill submitted on dtd-01/04/09 and bill date is 01/04/09. Is it the expenses of financial year 2008-09 or 2009-10. Can i deposite Tax in 2008-09?

regards

deepak

plz can anyone explain me what is the difference between internal reconstruction and external reconstruction

Can anyone tell me that service tax is applicable when it is passed in the financebill where as income tax is applicable from the next year

I am one of article assistant. My principle paying me Stipend as per our ICAI Rule,thats so i'm unable to bear my monthly expenses and thats why i'm totally dependent on my elder brother, who is currently working in Patna as an Accountant, but recently he got job in New Delhi and he shifted to New Delhi.
That so because i want to take transfer my articleship to other city.
Sir, can i take transfer on above criteria, If yes then please suggest me how to apply for same and what document proof should i submit to ICAI.

Please do needful.

Manish Kumar

Is it necessary for a charitable society to handover its property on dissolution to only a charitable society ? are there any case laws for the related matter ? Pls reply its urgent

Sir,

I want 2 know that if one co. 'x' supply manpower to co. 'y'. then on which amt. they should charge ser. tax?

for Exp. - Co. x Supplies 10 security guards @ 4000/-p.m.
Total amt.- 40,000/-p.m.
ser. chgs. @ Rs.1/- per gauard
total amt.- Rs.10/-p.m.
Gross amt.- 40,010/-p.m.

So, i want to know that, whether the ser. tax charged on Rs.40,010/- or Rs.10/-
also provide me the reason behind?...

thanks in advance

i need provisions relating to following situation in the companies act,1956 i.e. sec no. and also case laws if any.

situation is:

5 members have formed a private ltd company and subscribed capital. they have opened bank account for the company. they have entered into agreement with one real estate agent and transferred the funds from the company bank account for the purchase of land. Agreeement was finalised and land was purchased but it was registered in the personal names of directors instead of company name.

This is the problem now. i know it is prohibited under companies act but i do not know under what sec it was prohibited.

Please help me out to sort out this issue. suggest the ways if any to make directors come out of this issue. it would be helpful if someone can quote case laws also.

while preparing schedule of Depreciation as per Income Tax U/s 32 for the Y E 31.03.09, WHETHER we can Consider the WDV of assets of One entity( HUF) as on 31.03.08 as an Opening WDV of another entity ( Company )as on 01.04.08 , in case of transfer of all assets from HUF to Company.

Thanks

hi sir can any one tell me when is the last pcc attempt i mean now ipcc is introduced no sir for the students who have not complted there pcc which is the last attempt after that they should convert in to ipcc.



thank q in advance sir.