What is the meaning of Compounding of Offences? Pls explain in simple words if possible.

Hi Experts

Electricity Provision was made amounting to Rs. 35000/- as on 31.03.2015 in the books of PARTNERSHIP FIRm

Actually bill was received for Rs. 26000/-

Now excess provision is reversed for Rs. 9000/- by crediting P& L account

But our CA is in the opinion that it should be treated as Misc. Income.

Please explain.

can I claim deduction for brain hamerage & paralysis u/s 80DDB of a individual

Dear Sir,
An Assesse has filed IT Return in A.Y. 2011-12 where in the Return he has wrongly entered the TAN Number of the Deductor and as such IT Deptt. has demanded the TDS amount deducted by that Deductor. Please tell whether it is possible to file rectification u/s. 154 now or if there is any other remedy.

Please suggest as the Assesse is in tension because the TDS amount is quite big.


Thanks,
Abhishek Roy Choudhury.

While sanctioning the home loan to the person(proprietary business) which one is going to considered by banks in IT returns. I mean turnover or netprofit or taxpayable....

we received labour bill in April,16. but we have not deduct TDs. in August we have deducted TDs with late deduction interest & late payment interest,now my ca asked to us TDs return will be filed in first qtr. then traces imposed penalty 234e, because due date is 31 July 2016. but our knowledge the same TDs details show in second qtr 16. & we have already paid late deduction interest,qesti

What is the Journal entry for Business expenses paid from Personal Cash ?

Whether the Late fees paid for Late filling of service tax return is allowable as a expenditure as per income tax act 1961.

Please reply,

i lost my shipping bill for reimport what can i do

I have deposited cash in banks of rs.50 lk received from sales of goods is there any problem in it