sir,iam women(below65)assesse.have prop.business & covered in Tax audit for the yr 31.3.2011(A.Y.11-12)My net taxable Incomr is Rs.481830/.
i have not paid Any ADV TAX OR ANY PREPAID TAXES
AS TODAY HOW MUCH I HAVE TO PAY I-TAX? & ALL
INTERST sec 234 a b c & any penlty? reply soon thanks

Dear Sirs, We are selling Goods to Customers/ End Users of other state by charging 5 % VAT (Local VAT), However, the billing is in the name of buyers of other state and their address is mentioned in the Invoice.

Can we claim the deduction while paying VAT ?

im pcc student n my 1.2 yrs articleship is remening. plz giv suggestion to do it in same firm or join industrial training. which will helpful for my future....also suggest how to join industrial training with process...
plz reply

Dear Sirs,

I am posting this query to get a clarification as to where Income Tax debited in profit and loss account is to be shown in the schedule “P&L” and schedule “BP” of ITR 4.

According to my understanding, profit before tax should be shown under column A1 of schedule BP. In PART A- P&L, Sl. No. 43 will show Profit before Tax and the amount of income tax will be shown against Sl. No. 44 and Sl. No. 46 will show Profit after Tax. Income tax debited should neither be shown under Sl.No.16 of Schedule BP nor under Sl. No 8 Ac of PART A- OI. As per the guide for common errors published by the Income Tax department, Profit before Tax should be shown in Sl. No. No. A1 of schedule BP.

According to one of the leading Income Tax return preparation Software, Net profit as shown in the P&L a/c (Profit after tax) should be shown in Sl. No. A1 of schedule BP and Income Tax debited to the P&L a/c should be shown under Sl.No.16 of that schedule (amount debited to profit & loss account to the extent disallowable under section 40). Similarly income tax debited should also be shown under 8 Ac of schedule OI. According to the Software, in PART A- P&L of ITR4, Income Tax debited to the profit & loss account should be Shown under Sl. No.34 (f) (“any other rates, tax duly or cess”) and Sl. No.43 will show profit after tax. There will not be any figures in Sl. No. 44.

When I suggested that the method followed by them is not correct they argued that the software prepares Income Tax Return (ITR 4) as per the Schema provided by the Income Tax Department.

Kindly inform which of the treatments mentioned above are correct.

can we join as an article clerk immediately after writing exams and without receiving result, if we are so confident of the positive result.
i mean that can we register ourselves for articles and proceed, even before results.

One of my client company has incurred 5lacs (paid to an outside agency) for developing and maintaining website of the company. Whether it is revenue exp. or capital? pl.mention relevant judgement. Also reply in context with AS-26?

i want to know what are the loans covered under section 269T and 269SS of the income tax act 1961. whether o/d and c/c account are also covered ? whether secured loan from banks likes car loan and car financed from finanace company are also covered ?

Can any one provide any material or notes for Final ISCA and DT?? Any Topic pls.

As i had sold a flat dt.15.10.2010
& the purchaser sign the agreement by franking the document for Rs.1000/-only & mentioned that he will registered the agreement within 6 months which he has not done yet.

Against the above i have purchase a new flat dt.01-11-2010.
1)If the purchaser does not register the above flat do i have to payable the CAPITAL GAIN?
2) Still the possession of the above flat is with me because he is not register the agreement.

If a partnership firm does not make the provision for Expense of Municipal Tax for the year 2009-10 and pays the same in F Y 2010-11 then can the same be allowed as deduction for the F Y 2010-11 as we get deduction u/s 43B on payment basis, Please state the reason also