Dear Experts,

Kindly help me solve this query.

While auditing my client's books, I found that they had debited the professional charges on a later date than bill date so as to extend due date for payment of tds. However the date of payment was correct. Is this treatment acceptable?

To be exact,

Date of bill - 26/4/2013
date of payment - 30/4/2013
Date of entry - 1/5/2013

Entry made is as follows:

30/4
Party 5056
To bank 5056

1/5
Prof charges 5618
To TDS payable 562
To Party 5056

Please also explain that in this case, was tds payable upto 7/5 or 7/6 because the payment date was 30/4.

Dear Sir

We have taken a shop on rent in a mall. We pay to the mall management charges for maintainence and electricity.

Under which section should we deduct tds?

In F.Y 2012-13 i.e. A.Y 2013-14, my income is below exemption limit but employer deduct TDS. I have not filed return till now, so if i file now, whether penalty of 5000 would be imposed or not?

sir , please make me clear that if an assesse is earning salary from a company or remuneration from a partnership firm and also paying intrest on unsecured loan taken from the other party then whether that intrest expenditure would be allowed as expenditure in order to calculate the NET INCOME from that head or it is necessary that , expenditure is in the nature of other source so it can be only be adjusted with other source income . please clarify it as soon as possible with some case laws links also .

Good Morning

In sec. 54 exemption is available for purchase of HP before one year of transfer or two year after transfer.

Eg. On 1/9/13 I purchased a house and then I sold my old house on 2/8/2014. Exemption is available to me u/s 54.(i.e. purchase a house within one year before the date of transfer)

Question:
1) When I already purchased the house before the sale of old house then why exemption is available, even if i have the money as it is, I don't use the amount from sale proceeding. What is the logic?

Mr. x is tax deductor & he has received a short deduction certificate to deduct @ 1% u/s 194j instead of 10%, still Mr. X received notice from IT department regarding lower deduction.. What steps should he take to tackle this? should he file revised return & send lower deduction certificate or what???

How can I file my IT return for AY 2012 - 13. and under which section. till date I have not filled. any solution?

Respected all
i m seeking for ur valuable suggestion
as my attempt for CA Final exams is May 2015
now i m confused whether i should go for Dt classes or wait for next batch

Is surcharge is applicable to all persons as per latest amendment? plz reply

how to apply for ppf and details ..?can any one answer this plzz