Dear all,

Charitable trust ( No Registration u/s 12A or 80G) operate a ITI college.

for AY 2013-14 Loss incurred by the trust for FY 2012-13, whether any audit report is required to submitted by the trust to Income tax dept?

If yes what is due for submission,In what form no. of audit report,under which section?
No any audit report and no Income tax return filled by the trust till date for the AY 2013-14.

Can trust now filed the ITR and audit report?

Trust is want to file return and audit report in paper form.

Kindly suggest.
thanks

what is tenancy right self generated n why index cost of acquisition is nt applicable in case tenancy right?

penal or overdue interest in bank

An Association is registered under Society Registration Act, 1860. The object clause of the Association runs thus:

A. To serve a common platform for all post-graduate college in the state for development in respective higher education.

B. The income derived in whatever way shall be utilized for promoting the above objectives of the Association and shall not be distributed among the members of the Association or any body as dividend.
My query is:
How the Association would be taxed. Is there any exemption in this regard. How the exemption is to be claimed.

Which section to apply section 10(23C) or 11 & 12.

while caluculating house property income for the financial year 2012-13,if assessee paid municipal taxes arrears of previous 6 years l.e (2007,8,9,10,11,12,) along with current year municipal taxes (2012-13).

my question is whether such municipal taxes arrears can be deducted from Gross annual value?

Hello Professional Friends,

One of my client has paid an amount of Rs.75,000 to a Vendor as advance towards purchase of computers. But before the delivery date the vendor discontinued the business and is not traceable right now.

How to treat this loss of Rs 75000 ?? Please suggest appropriate accounts head.

Experts please help me out...
Actually we are a construction company and the audit of F.Y. 2012-13 has been done.

And we paid lots of commission to parties to our but we duduct TDS on year end 31st March 2013 and it is also wrong deduct.


Suppose we make payment to our Commission Agent amounted Rs. 50 lacs on F.Y. 2012-13. Then we didnt deduct tds on time of payment. But deduct tds separetly as 10% of Rs 50 Lacs(5,00,000/-)at year end by making journal entry and make payment of TDS on 31st March along with interest on late payment only. But i think correct TDS deduction should be 5000000/.9 X 10% (Rs.5555555.55 x 10%) i.e. Rs.555555.55...Please advice me how should i correct this matter by filing of REvised Return, bcz if i Revised then my Commission Expense will also change.

What do you mean by internal audit ? Who is liable for compulsary internal audit

one of my friend is having investment in stock of Indian companies. he is an nri and investment is made from nri account. tds u/s 195 is deducted for him. is there any way to save tax

can anyone explain applicability of section 194LA and 194IA.. and difference between them...