our company purchased certain bearings classified under stores & insurance spares (Current Assets)from a party for Rs.100000/-. There was a clause in the purchase order that if the materials were not delivered to us within a stipulated time we are going to deduct certain amount from the bill.As a matter of fact we deducted Rs.3000/-. my question is whether the stores A/c will be dr by Rs.100000/- or Rs.97000/-.plz provide with the J.entries

Dear experts,

I have an income of salary and I file ITR1 form to get TDS return by taken benefit of section 80GG (Total House Rent benifit Rs.24000)

I saw in TV in CNBC (Advices of Lakhotiyaji) channel that if exception is more than 5000, ITR4 should be fill up in salary income.

Kindly solve this above query that did I right file return of ITR1, if yes, so what about the advice of Lakhotiyaji.

Thanks & regards

Company incorporated in year 2012 but does not submitted return of allotment.
In year 2013 the shareholder of company are changed and no complainces related to it was filled with ROC. Now company want to made all the complainces. What is the procedure and formalities we have to complied with?

As per section 173 of the companies Act, 2013, a gap of 120 days is permissible in between board meetings.

ABC Pvt Ltd company held its last board meeting on 20th March ,2014. So when is the last day to held the first board meeting for the financial year 2014-15??

Correct me if the last day is not 18th July 2014??

Further i conducted th meeting on 14th July 2014. Is there any violation of the provisions??

Experts,

An individual has income of daily wages, then which ITR will be applicable to him ??

ITR 1 is not applicable to him as he is not employed full time with one employer.


Thanks

Hi. I have finished 10 months of articelship. Now I want to transfer my articlship to another firm. Can my existing auditor object for the transfer?

sir,
A person having income below 5 lakhs. so he filed return manually. he filed his return on 30.07.2014 without signing his return.but they (officials) filed the return and also issued the acknowledgement for the return. will it create any problem in future.?and also will it create any problem regarding refund?

Sir,
I electronically submitted the ITR-4 for A.Y.2012-13.
Now couple of months ago,I got CPC Communication showing wrong Demand outstanding for Rs. 27,740/- for the same A.Y.2012-13 while ITR-V shows Income Tax payable NIL after taking in to account all my incomes and all paid taxes through TDS and paid challans.
The communication received from the CPC, Bangalore is with reference to the intimation under section 245 dated 10.02.2014. In the aforesaid intimation, it is proposed to adjust the refund for A.Y. 2013-14 against a demand of Rs. 27,740/- for A.Y. 2012-13 raised under section 143(1)(a) on 26.04.2013 while there is no refund due in the A.y 2013-14
but demand is wrong and unreasonable Kindly advise how to pursue the case with Assessing officer to quash the same.
K S Sharma

HRA Exeption not considered by employer due to delay in submission of rent receipt.While filling return i am claiming the same.
What income should i write while filling ITR-1 (in TDS Sch 1 under head) "Income chargeable under head salary".
A) As per Form 16.
B) After considering HRA exemption which i claiming with ITR.

Please give me some practical example relating to revised return u/s 139(5) and rectification of return u/S 154.