-What are the consequences if I.Tax Department is not ready to accept the Copy of E-filing Acknowledgement after expiry of 15 days of time even after giving in writing the valid reason for delay by the assessee ? Whether the Return will be considered as invalid?
-What happens in the case Department has already accepted E-filing Acknowledgement after 15 days. Still it would be considered as invalid at the time of assessement?

Which form should be used for claiming refund of service tax paid on specified services by the exporter of goods. (Notification no. 41/2007 dtd 06/10/2007).

An assessee (Mr. X) has a residential house property which he sells and books LT capital gain in the process. He immediately invests the sale proceeds in another residential property in compliance with the provisions of section 54. However, the investment is now made in the the joint names of Mrs. and Mr. X OR in the joint names of Mr. X and his son, Mr Y. Would Mr. X be entitled to relief under section 54 in such a scenario?

Hi,
When i was doing statutory audit, i observed that, the share cap & reserves were totally eroded by the brought f/w & currenty year losses in the balance sheet. My queries are;
a) Is the statutory auditor required to qualify the report?
b) Is there any other statutory implications on this balance sheet?

Kindly reply soon....
Ram

One of my client have collected Service tax on rent of immovable property in the month of April 09 after the high court order, which he was not suppose to do because the DH has held rent on commercial immovable property unconstitutional.

Now he asked me should he deposit that ST to government or refund back to the party.

In my opinion:
The service tax collected should be deposited to the govt within due date and henceforth he should not collect ST from the party unless and until Supreme Court gives contradictory order to DHC.

Am I Correct?

If employee purchased a Agricultural land out of Salary income is there any exemption for income tax?

Is Tax on dividend applicable on what basis? & can you give me details information on tax on dividend?

We have taken a life Insurance policy of rs 100000. we have made payment of Rs 25000 as premium which accounts for more than 25 Percent of the policy amt.
The policy amt has matured and we have received the amt
Will full 100000 will be taxable Or rs 75000(100000-25000) wil be taxable???
The premium which we have paid will be allowed as deduction or not???
Section 10(10)(D) says that if the premium amt paid is less than 20 Percent of the the policy amt then the whole amt received will be tax free
Plesse answer this question fast

Kindly let me know that how can we surrender service tax number & what the process for the same.

tks
rajesh shukla

One of my FD of Rs 10000/- is maturing on 12th July 2009. Now i dnt wanna encash it right now n i dnt renew it. I wanna go and encash my FD in December 2009 when my other FD's are maturing.My question is that will i get Savings A/c interest of 3.5% for the period of 12/07/2009 to December 2009 on matured amt. I am asking this bcoz i read somewhere that there was a RBI notification in this regard. Pls Rply??