For AY 2009/10 assessee (transport contractor) Engaged truck operators owning less than 2 trucks, obtained Form15I from them but failed to file Form15J by 30-6-2009.Ao during asst proceedings wants to disallow payments to thes truck operators u/s40a(ia) saying that provisions of TDS chapter have not been complied Is he justified? Are there any caselaws to the contrary? Can form15j be filed with commmissioner now &condonation obtained?

A company has purchased Industrial Gala for Rs 44L in 2007.
Company has claimed depreciation till now.
From 2008 Company was functioning as 100% EOU so no Income tax has been paid.
Now the Company has no more export orders.
Also The 100% EOU Tax benifits are no longer available. As there is no revenue the company has no Income tax liability.
Company also has incurred loss in the last year. As the company does not see other export opportunities, now wish to Apply for de-bonding from 100% EOU status. Company also wishes to sell the said Gala, market price of which is over Rs. 95L.

How should the earnings from Sale of Assets be treated? Can the Profit from the sale of asset be set off against the loss from business activities?

How would the capital Gains tax be applied?

Plssss... help me, One farmer land is aquired by govt. for road . He has no any income, either by any way. He has recieved Rs.1000000/- and TDS has deducted Rs. 100000/-. Under which Sec.he will get relief and can get refund. Sanjay.

Can a CA with a COP, full time and already a partner in a CA Firm become a partner in another CA firm or an LLP. Pls advice

Where a NRI company provided some service to the indian company and TDS is deducted and service tax is paid for the same. Now my question is such NRI company need to file return in india where it is already allotted PAN also. how to show such income in while filing return.

thanks in advance

My final is due in Nov 12.My articleship will finish
in April 2012.I want to do int.CFA after my CA.The problem with me is
that I had wrongly chosen my articleship firm because it's too small
and I have not learnt anything material.So I am thinking of cancelling
my articleship and doing affresh 3 year articleship from a good firm.I
have now two options-
option 1: To complete my CA in Nov 2012 exams and then go to an
Investment based company to do training required for Int.CFA.
Option 2: To do articleship affresh for 3 years and become CA in 2015.
Query: I have heard that if I have not done my articleship perfectly
in a good firm then I will not get a job.
My aim in life is to become a whole time value Investor.

Hello sir,
i m discussing the situation as under that i have already discuss with lots of tax expert but no one is giving me the similar / right view.

The situation is: -
I m having a sale of 30lakh from Export sale of fabric & against this sale i am having a net profit as per books is 150000/-. I am also having some other income like as rental income (Rs.200000/-), int. income (Rs.5000), draw back (Rs.150000/-)etc. Sir, my main point is here that i want to consult to you, is it possible to file the ITR without audit (as per section 44-AB) and i also don`t want to go with section 44-AD of income-tax act`1961. Sir, some of the tax expert and also CA is saying to me that we can`t file our business profit below then 8% as my net profit is coming as per books is near 5.20% (approx).

Now, my main question to you sir is it possible to file the return in ITR 4 without audit in the above situation or not?
and i also don`t want to go with section 44-AD.

Hope for the best suggestion.

Thanks & Regards
sarbjit

Dear sir,
i have come to know that MCA govt have approved EXEMPTION FROM CPT FOR GRADUATES CRITERIA, via news paper and carockers website..

SIR I WANT TO KNOW FROM WHEN IPCC REGISTRATION FOR GRADUATES WILL START ??

pls reply to my querie as soon as possible, as im egarly waiting for this new schema..

Thank-you.... :))

In the AY 2010-11 if my business turnover is 8,00,000 and as per 44AF my deemed profit would be

40,000(5% of 8,00,000), but booked or declared profit is 1,05,300(13.16%). Now please explain me

which amount sould be filled in col.A33iii in schedule BP of ITR4.



details : In the AY 2010-11-----In no account case. nature of B/P code 0202 and 0301

Business turnover ----- 800000
Gross profit ------ 135300
Expenses ------ 30000
Net profit ----- 105300

cash in hand ------ 210500

I want to declare my profit u/s 44AF and that is 105300 (13.16% of turnover) , despite of this I

have also earned of 36610 as a commission income from a marketing co, so including this comm. my

income from business/profession will be 141910. Gross total income and Total income is 158500

(including-income from other sources-Interest-16590) Now pl describe how to fill in ITR4 for AY

2010-11.

if any one can send me the filled itr4, i will be very grateful of him. and I think many other

assessees may take benifit from such a filled ITR4.
thanking you.

Should we Excempt the Amount deducted towards recovery of Notice Pay from Final Settlement

should this amount be added into income tax calculation or should not be