suppose an employer needs to pay a monthly salary 0f Rs.15000/- to one of his employee.he passes due entry for two months apr 14 on 30/04/14 and for may 14 on 31/05/14 each for rs. 15000/-but he actually pays the total salary only on june 5 2014 rs.15000*2=30000/- will the expense of rs.30000/- be disaalowed under section 40a(3).Please give the answer as per provisions of the I.T.Act

Please let me know if a Private Limited Co not able submit the IT return within 30.09.2014 is there any legal violation and subsequent penal action imposed against the said company(considering the following points)except furnish of revise return.

1) Company not bear any loss so question of carried forward loss does not arise.

2) Advance Tax paid during year is more than provision for tax ie refundable as per self assessment

Sir,

Specific Query for Change in S.Tax in Cont. Supply, where partial advances are recd.

Case:
Total Service Provided Value - Rs. 100,000/-
Advance Received - Rs. 60,000/-

Service Tax Rate upto 30.9.2014 - 7.416%
from 1.10.2014 - 8.652%

Date of Advance - 20.9.2014
Date of Completion of Service - 5.10.2014
Date of Invoice - 5.10.2014
Date of Change in S.Tax - 1.10.2014

Question:
1. In the above case,if S.Tax to be applied on earliest of adv or completion, then do we need to apply old rate only on Adv.
2. At What S.Tax Rate Invoice needs to be issued ? How to compute the liability - Should adv to treat at old rate and bal. at new rate or any other solution

Kindly clarify as there is a practical difficulty.

Due date for furnishing domestic transfer pricing report is 30th November. I would like to know whether late filling of domestic transfer pricing report is allowed?

Dear Sir,

I am a Central government employee presently working at New Delhi. Till last month i was working in Hyderabad. At Hyderabad i was residing in self occupied own house. I purchased the house in 2009 with housing loan for a period of 20yrs. Till last financial year i claimed the exemption of EMI paid for my housing loan under Loss from House property (interest) & u/s.80C (Principal).

In this month i have changed to new job & shifted to New Delhi. But due to some personal reasons, my parents are staying at Hyderabad only & they do not have any source of income. Now i am staying in a rented house at Delhi. My query is, whether i am eligible for exemption for both HRA (for the rent paid at Delhi rented house) & housing loan EMI for the house at Hyderabad in which my parents are staying.

Kindly suggest.

Venkata Srinivas.B

Who all are need to file balance sheet in XML format?
Reply Asap
Darshan shah

Dear Sir ,

Employee CTC Rs.6.00 lac for 2013-14 after all exemption TDS Payable was Rs.27708.00 Company paid Employees TDS & recover from Employee .
In that Case while filling the Employees Personal ITR for 2013-14 what will be the amount of Tax he have to pay?

Kindly explain.....

I am doing trading/investment in equities and derivatives through spouse's (housewife) a/c since I understand that income from that investment is taxable for me but income on that income shall become taxable for my wife. Kindly advice if I am correct and whether I am required to show that income as "Business Income" or "other income" in ITR 4S.

Respected Sir/Madam
I am currently running manufacturing Pvt. Ltd company at Nashik and obtain Excise & M-VAT Registration form Nashik Division.

My Question is -

I am Planning to open my Company Branch in PUNE with same name. can i start company branch (manufacturing) with my existing Excise & M-VAT Registration or i have to Register new for PUNE division.

I request you all respected senior's please let me the details at your earliest convenience.

Background:
The assessee is engaged in Transportation Business. During the year assessee acquired four trucks out of which three trucks were financed by a private finance co. (Krishna Motor Finance Pvt. Ltd.) and one truck was financed by ICICI Bank.
The assessee paid all the installments for these trucks during the year in CASH (i.e. otherwise than account payee cheque)

Issue:
Whether Sec. 269T is applicable in both the case (i.e. Krishna Motor and ICICI Bank Ltd.)
Please advice.