Hello ! Experts

After Scrutiny Assessment, Our assessee has received demand notice of penalty u/s 271 (1)(C) for Rs.143980.00, ITO dissallowed the Expense Interest on Loan (Unsecured Loan) due to non deduction of TDS u/s 194(A),

If any help or any reply can shorten the Penalty value, then please provide with reference.

Many Many Thanks in advance

Deepak Sharma
deepak_8583 @ yahoo.com

Read more at: https://www.caclubindia.com/forum/help-income-tax-scrutiny-295652.asp#.U6kpdpSSwZM

I have a query. While filing an Income Tax Return I found that a property was purchased in joint holder name A and B but while taking Home Loan for the same it was only taken in the name of A. Now my question is, Interest paid on Home Loan shall be fully taken into Income Tax return of A (since he fully paid the Home Loan) or shall it be divided into both the coowners of Property.B does not have any other income. An urgent reply is needed.

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CONTRACT IS PURE LABOUR CONTRACT:
DUE TO URGENCY OF SITUATION MATERIAL PURCHASED BY CONTRACTEE:

VAT(PURCHASE TAX) PAID BY DEALER ON SAND PURCHASE IN X SITE (EITHER FROM REGISTER OR UNREGISTER DEALER), X SITE IS PURE LABOUR CONTRACT AGREEMENT.

BUT IN VAT RETURN WHETHER CONTRACTEE CAN CLAIM THE X SITE VAT PAID ON SAND PURCHASE AS VAT INPUT FOR SITE Y (SITE Y IS FOR WORKSCONTRACT AGREEMENT)

IF YES PLEASE PROVIDE THE SECTION NUMBER OR DETAILS.

THANKYOU..............

DEAR SIR,

I FILED IT RETURN A.Y.2013-14 & BY SIGNING THE ITR V POSTET TO DEPT. WHICH HAS BEEN RECEIVED BY THEM ON 25.04.2014 BUT TILL NOW RETURN IS NOT PROCESSED BY DEPT.
CAN ANYONE PLZ TELL THAT HOW MUCH IT WILL TAKE TO PROCESS IT? WHAT SHOULD I DO NOW?

What is to be done in case the defaults in tds intimations are wrong...?? Eg. we received an intimation showing late payment intt to be paid but we have already paid and adjusted it in original return.....talked at traces also but no satisfactory response from them....they just say pay the demand without giving reason for it to be paid....Hope I will get an ans here......Thanx in advance...

dear friends....anyone is doing phd on the basis of CA..? if yes, kindly let me know, the name of university, procedure to take the admission,n area of phd.

thanks in advance.

CA. GAURAV SHARMA