In case of an assessee who has not filed his return and now wishes to declare his income under IDS, will he get the benefit of exemption limit? For example, if his total income for that year is Rs 5 lakh, then should he declare Rs 3 lakh as undeclared income and pay tax on Rs 3 lakh or should he disclose Rs 5 lakh as undeclared income and pay tax on that amount. Income Declaration Scheme 2016 Section 183 states that," a declaration of any income chargeable to tax under the Income Tax Act". This means that the declaration should be made only of the amount which is above the exemption limit. Please share your views.

one person trasfers rs.50000in my account on 28.3.16to utilise that amount to pay his insurance premium .and i hav withdrawn that amount to pay his premium on 1.4.16.Because of that transfer my account shows balance as on 31.3 is 80000.so how i will show this amount in balance sheet

I have registered for IPC through direct entry and my registration date is 29th august 2012 I want to know that if I have to write Nov 16 then will I have to revalidate my registration??? plz let me know thax in advance

please guide me how i can score exemption in costing in ca final.

I completed my articalship as on 31st may 2016 . Recently I filled online exam form for Nov 2016 examination . In form page No. 3/4 Certification of service ,  which options I select out of 5 (five) options . and what is Old article reg No. &  New unique reg No. I have my WRO number which I use since ipcc & last final (may 2016 ) examination ....

hi
can anyone suggest me a good teacher for ca final financial reporting in pune. also suggest me best online classes for FR

thanks

sir I am going to appear in ipcc nov 2016 exams. I have submitted my exam form online, but while submitting exam form a mistake was committed from me. I am appearing in exam through cpt. but while filling exam form I clicked on the option of direct entry scheme. I also furnished my details regarding my roll no. of cpt. now please tell me what I can do??? I'm totally in worry

For a software Private company which does not require reporting under caro. Should we really mention that in the independent auditors report that caro is not applicable and leave it there or should we still go ahead and provide the an annexure on caro

Hi Experts/Colleagues

I am in CA-Final, Last attempt score for Group-1 were 47/24/36/36 (Not worked hard for these exams)
as i am in full time employment. (10 Am to 6 Pm).....but ready to & already devoting 5am to 9am & 8pm to 10pm) since last 1.5 months (Completed Audit & Law topics @ 60%) but have not touched FR & SFM yet.

on 1st August i started preparation of SFM & solved Dividend Policy from PM & SM as well but later on i got frustrated that SFM is not my cup of tea and i can not crack SFM even for 40 Marks.

Because i am not able to understand from which books i should cover questions.(Already taken coaching from Sanjay Saraaf Sir)
Should i cover ONLY SM/PM questions? is it sufficient?
How to read theory? how much theory should be covered?
Not able to grab Derivatives/Forex (totally DUMB in these chapters)
Even after completing dividend questions, not confident
Ohh...new type of question in RTP/XYZ book etc etc.
How to solve this? or new way to solution etc etc

This is resulting in Frustration/pushing me towards Failure and affecting my studies as well.

How to overcome out of this situation as if this will remain continue for more 3-4 days it will force me to skip this attempt which i don't want.

Thanks in advance for your sincere reply/advice.

if the turnover of the business is Rs. 89 lakhs and net profit is Rs. 3.5 lakhs. and deduction u/s 80c available Rs. 120000.

now the my question is, in this case tax audit is required or not.

please explain with applicable provision.