If we raised 2 invoice to same customer for 45000/-& 10000/- in same day the total value is above 50000 so then e way bill is required?

Dear Sir/Madam,

My cousin is regularly filing IT return. But somehow he forgot to file Income Tax return for AY15-16 (FY 14-15) & hence he has received Income Tax notice that u/s 192 Employer has deducted tax & return is not filed. His total Taxable income will be Rs 503,000 after all deductions. Briefs are as below :

Fast Facts:
1) Salaried Employee Rs 7.70lacs & TDS deducted Rs 25700 (shown in Form16)
2) He claimed Self occupied House Property Rs 2lac ( shown in Form 16)
3) Deduction u/s 80C claimed Rs 80000 (shown in Form 16)
4) His Interest amt was Rs 13000 ( & claimed Rs 10k under Sec 80TTA ). He was not aware to show this income as IFOS . Hence after claiming deduction on Rs3k he paid Rs 800 as Tax as per I.Tax utility. TAX paid on 26th Mar 2018. ( does not have any other source of income )
5) As the return uploading is not available. Compliance reply given as Return under Prep. & Reason "Self-Not Known"

Queries :
1) Does he require any kind of communication to Income tax dept ? If yes, by electronic or physical mode?
2) What are the remedies available to my cousin ? Because he feels terrified by the notice & not wish to visit IT office.

Please help me regarding above issue at the earliest.

Thanks you in advance.

I am a CA final student. after clearing finals, i don't want to practice, i want to do a job in an industry. i wanted to know what kind of practical exposure in articleship one should have so that he is able to meet the requirements of the job the student want to do in that industry.Do companies who employ CAs as an employee train them to meet their requirement from the job.?

Hi,

One of our Employee submitted his child's Tuition Fee Receipts to get the exemption for Income Tax

This payment was made on October 9, 2017 by cheque for the academic session of 2018-19 and School will be issued the Tuition Fee paid certificate for the F.Y. 2018-19

Please let me know this payment consider for Income Tax exemption for Financial Year 2017-18 or 2018-19?

Best Regards,
Raj

Hello everyone

Kindly clarify,
1.Whether commencement of business certificate is required for public limited company.
2. Whether bank will allow transactions in the current account without commencement of business certificate.
Thank you

Hello,

Is it possible to know if a land situated 17Kms from nearest muncipal corporation limit with population of 4000 comes under rural agriculture lant?

Is there LTCG tax on the sale of such land?

Thanks,

Mohan

Hi,
My mother is a senior citizen, and received Rs. 15,000 as survival benefit from her LIC New Bhima Bacchat Plan.(The policy gives 15% of the Sum Assured as Survival Benefit every 5 years, the policy hasn't matured, this is only a survival benefit.)

TDS was not deducted under 194DA as the amount is below 1,00,000.

Would someone please clarify if this amount is considered as taxable considering the amount and the fact that no TDS was deducted?Should i include this as income from other sources in her ITR?

Thank You.

Dear Sir/Mam,

As per our company police. if any employee visit our Client side out of Mahaashtra. our company Provide employee extra Daily Allowance Rs.1000/- Par day for employee exp (Lunch,Dinner & Other Exp). against this exp they are not submitted any bills.

My question Is.

Can consider Client Side DA as employee Extra Income.

or

Can I treat employee client side exp.

Hi Experts,

Please gave me solutions to generate E-waybill in following circumstances-

If Mr. A from Gujarat supply goods to Mr. B in Delhi of Rs.1,00,000/-. on behalf of Mr. C in Maharashtra.

As per the information shared by some sources, Transporters will update Part - B of E-Way Bill generated by Consignor/ Consignee.
But what if they don't update the details ?
1) Will there be any problem in Transit of Material ?
2) Can we update it while Material is in Transit ?
3) Can we update it later after Material has reached the destination ?

Most of the Transporters deny to give Vehicle Number while booking Material with them, saying they don't know as to which Vehicle will carry our Material.

Please advise.