Dear Sir

dr Asst Year 2008-09 There is Loss of Rs.26,06,327 dr this Asst Year i.e 2009-10 also there is loss. While entering ITR-4 I have not entered the details of B/w loss from previous years.This is a 44AF case What have to do now whether I have to file revised return or not. If I have not file the revised return what will be the Consiquences kindly let me Know

If Assesee is under Audit in F.Y.2006-2007 not in F.Y. 2007-2008 & Covered in F.Y. 2008-2009. The Assesee is deducted TDS in F.Y. 2006-07 not in F.Y. 2007-2008. Then Wheather he has to Ded. TDS in F.Y. 2008-2009

Explaination to subtraction 115 JB allows booked Profit to be Reduced by the amount as per clause (V), amount of brought forward loss or unabsorbed Depreciation whichever is less as per Books of Account.

In F Y 2006-07 company has
Loss before Depreciation Rs.60 lacs(i.e.before CY Dep.Rs.40 lacs & before Prior period depreciation as stated below Rs.70 lacs),
Current year Depreciation:Rs. 40 lacs,
Prior period Depreciation due to change in method from WDV to SLM credited to P & L a/c:Rs. 70 lacs.

What will be the Status of Reduction/adjustments allowable under clause (v) if i am working for 115jb in A.Y.2009-2010 where company has a book profit ?
whether Book Profit for A.Y. 2009-201 should be increased by net amount of depreciation credited by Rs.30 lacs?

I am a salaried person and my income was less than 5 lacs.

For the assessment year 2008-09, i filed return in the month of july 2008.

On 5/10/09 i was issued a notice under section 143(2)to attend the IT office on 12/10/09. Unfortunately i attended on 7/10/09 and meet the ITO. I was asked about my bank accounts and i told her(ito).

She taken my signature where it was written that " told to have bank accounts in HDFC, ICICI, SBH and ANDHRA BANK and to come with all the statements and movable immovable assets on 7/11/09".

Q1) Whether Notice under section 143(2)
should be issued within 12 months or
not? In my case is it valid or not?

Q2) Even though i attended (only once) can
i claim it invalid now?

Q3) For what amounts we have to prove the
source? morethan 10000/- or 20000/-?

I am very much worried please answer me.

In case return of loss is not filed in time, then how can delay be condoned?

Dear Sir
Please reply for following queries

1)How to compute income of LIC Agents if he only receives commission from LIC

2)What are the deduction can be claimed and tax rate

Thanking You
Deepak Waghmare

When a service provider submits his return, his declared income should include service tax collected?
In short, is he liable to pay income tax on service tax collected which has already been submitted to service tax dept.

We have done the online payment of T.D.S, but the TAN number entered in it was wrong, so the credit would be get to party whoose TAN number is mentioned in it, so please tell me what to do and also the payment has been done today, so can the payment would stopped/revised.

Dear sir

is there any format for end use audit report?
if yes please provide me

X Ltd (a USA Co.) sells software/related products to an Indian Co., for which the payment is to be made by the Indian Co.

X Ltd has a Subsidiary Co. in India, there is no income attributable to such PE nor it is involved in this transaction.

Now my query is, whether having such a Subsidiary Co. constitute a PE in India under USA-India DTAA.
If yes what will be the TDS % to be with held by the Indian Co. while making payment.

Kindly refer similar rulings/judgements, if any.


Thanks
Arihanth