hello sir, one of the assesse has engaged in readymade business , he filed return for two f.y showing income as retail cloth merchant. as we all well know that there is no tax on cloth items. There is no bill for showing as purchase goods . Now the government has issued sec 269st rules. at this stage what the assessee has do....no trade licensce , no current account the assessee is in doubt that how he will follow sec 269 st rules by paying through bank.... either he has start new business through new trade license..... plz suggest

Dear learned members,

I am in process of Incorporating a private limited company with following facts:-

1.) A (Indian) & B (foreign national) will be the directors of the proposed company.
2.) B (foreign national) and C (foreign national) will be the shareholders of the proposed company.

Now I want to know of whom DSC's will be required for Incorporation in SPICE forms. Mr. A & Mr. B are already having DIN & holding directorship in certain companies & Mr. A is having DSC's too.

Please help. Thanks :)

Hi Sir,
My name is S.S.KUMAR and all my certificates from school and employment and IDs are in that name. However,I come to know that my name has been entered in IT database as SHIVA KUMAR SANTHANAM(i.e expanded initials) even though the name on my PAN card is S.S.KUMAR. The problem I am facing is how to link my PAN and Aadhar ? I cannot change my aadhar card name as SHIVA KUMAR SANTHANAM as I don't have any id proof in that name . I cannot change the name on my PAN card also for the same reason. Is there any way to change the name in the income tax database as S.S.KUMAR ? All my educational,employment and bank records are in that name. I would be put to much hardship otherwise. Please suggest a solution.

One of our client formed a privae limited in 2010, since then he had not done a single business transaction. few days back he receive a notice u/s 248 for struck off of name.

It is asking to send our representation ,otherwise it will struck off name from Roc and directors will be liable.
My question is we want to remove the name of company, should we do it suo motto or let registrar doso in case we dont reply. whats the consequences to director.

Dear Friends,

A company has received notice in STK-1 u/s 248 of the Companies Act, 2013 from Registrar of Companies to strike off the name from ROC register. The company has not any forms since 2013. we have to file our representation within 30 days and directors are liable to appropriate action under Act. The company would like to continue its operations.

What reply we should file to the ROC?

Thanks in advance.

Regards,

If Mr. X sells goods on credit to Mr. Y for an amount of Rs. 100000. Does it fall in the ambit of 269ST or T as this transaction amounts to giving loan. Also can Mr. X collect cash from Mr. Y in installments of 20000 on various dates and issue cash receipts for 20000.

IF A DEALER/ASSESSEE HOLDING BOTH THE REGISTRATION NUMBERS I.E. WITH SERVICE TAX AND MVAT/CST. BUT IS IT NECESSARY TO DO THE GST ENROLLMENT FOR BOTH THE NUMBERS. I.E.WITH BOTH THE TAX PAYING AUTHORITIES.?

Dear Sir, An Assesse has invested certain sum of money from his own income in post office mis in the name of his wife but the interest from post office mis is deposited in his bank account not his wife. So please tell whether the interest income will be taxable in the hands of husband or his wife. thanks, Abhishek.

My assessee is petrol pump dealer.
Majority of sales are in cash.
If he made cash sales of Rs. 30,000.00, 40,000.00 , 50,000.00, 25,000.00, 40,000.00 and Rs. 1,00,000.00 to single person (suppose to Bus Operator) on different invoices and different dates.

Can Petrol pump dealer receives cash from bus operator ?
If he receives cash against this invoice generated on different dates
Then what is the position of my client under section 269ST

Sir,
I have reecived cash Rs. 3,00,000.00 (Three Lakh) from 20 students as tuition fees in F.Y. 2016-17 and bank interest income 80,000.00


Can I receive cash fees, and can I fill ITR- 4 FOR PRESUMPTIVE INCOME

ITR-4 INDIAN INCOME TAX RETURN Assessment
Year
2 0 1 7 - 1 8
SUGAM [FOR PRESUMPTIVE INCOME FROM BUSINESS & PROFESSION]

Thanks