We have made a sale to chennai party in the month of Aug.2013. Now the party is denying to give the C form and tell us that they are ready to pay the Tax, that arrived for calcualtion of C form. My question is whether the Interest is to be calculated from the date of sale till 31/03/2014 or only the Tax amount has to be collected from the party. Please suggest?. Thanks

Dear Experts,

Happy Ugadi.

One of my client is an educational institution which is not registered U/S 12A.
My query is how to file its income tax return and which ITR to be used. Gross receipts are more than Rs. 1 Crore. Do I need to issue Audit Report in Form 10B or 10BB? Plese help.

It is very urgent.

Thanking you.

HOW CAN A ASSESSEE FILE RETURN FOR A.Y. 2011-12 WHO IS TAX PAYER ON THAT A.Y.

A Public Sector Undertaking has given a supply order on 31.03.2014, the goods and bills bill be raised in the F.Y. 2014-15, now question is:-

1. Whether budget utilization will be treat out of F.Y. 2013-14 mere by giving the supply order.

2. Whether company can provide the estimate liabilities mere by giving the supply order or either goods or bills should be come before 31.03.2014

kindly guide

Hi All,
I have filed income tax return of a Pvt Ltd Company for F/Y 2012-13 with the data of F/Y 2011-12 wrongly on 30/03/2014 (Belated Return)and then filed return for F/Y 2011-12 with the data of F/Y 2011-12 (Which was the first year). Now, how can it be resolved?
Please help me.

Dear Sir/ Madam,
Applied form 1A for approval of new company name.
Proposed name: Moneycraft Capital Pvt Ltd,
Object of business is shares broking & later on business of Loans & Insurance also.

Form was not processed & remark given by ROC is as under:
"The proposed name appears to be NBFC. Form should be resubmitted by 30/04/2014 failing which the eForm shall be treated as invalid and shall not be taken on record. (Please refer Regulation 17 of the Companies Regulation, 1956)"
What is to do further please suggest.

Dear Sir,
please explain, as per exempted assets under section 5(vi)of wealth tax Act( i.e. A house or part of house or plot of land upto 500 sq. meters)

is Urban Land comes under the definition of plot of land?

is Guest house, Farm house comes under the definiton of House?

for example if assesse (individual) has only A guest house and an Urban Land. then whether he can avail any exemption ?

Hello experts,

I want to ask one thing that if the person has given cash or property as a gift to his/her relative then do we have to prepare any deed in respect of that.I know that it will be exempt from income tax but i want to know that whether we will prepare any deed or not?

Thank you..!!

An employee has received a lumpsum amount of superannuation fund on his retirement.

Would it be chargeable to Tax ?

Please explain the conditions of such treatment of the received amount

Specifically explain the point :-
To any employee in lieu of or in commutation of any annuity on his retirement at or after a specified age or on his becoming incapacitated prior to such retirement.

Please suggest as to accounting treatment of bus facility give to employees for the plant to their residence.

whether the same is treated as staff welfare or administrative expenses???

Please reply...