Hello Experts,
Mr A is a Stationery Shop Keeper. His Total Sales for the year 2012-13 were Rs 98.00 Lakhs. He wants to file ITR. He has maintained detailed books of accounts. Profit as per Books arrived at Rs 4.70 Lakhs. If he opts for Presumptive Taxation Scheme (Sec 44AD), his taxable income would be Rs 7.84 (Rs 98.00 Lakhs * 8%), which is not agreeable to the Proprietor.
Kindly let me know whether Sec 44AD is applicable in his case and if he wants to declare Rs 4.70 Lakhs, whether he is bound to get his books audited u/s 44AB. Is it compulsory for him to e-file Form 3CB and Form 3CD before 30.09.2013 if he do not opt for presumptive taxation.
plz reply

See Discussion: http://goo.gl/oKAuUR

Can u please explain with help of example concept of “Rounding off” like Rounding off to multiple of 10, 100?

Dear Sir,

What is the interest in TDS in the following cases:
1. bill date 01.07.2012 amt. 2000 paid on 08.08.2012
2. bill date 09.07.2012 amt. 2000 paid on 08.08.2012

Will in the both cases the the period of interest on TDS is 2 months or otherwise?

Hi,

Someone may please see the following and if possible, give reply:

Query 1

Can I proceed filing in the usual manner for previous years till fye 31.03.12
or
are there any changes due to the enactment of new CA 2013 - 98 sections w.e.f. 12th instant?

Please apprise / advise.

Ans : ………………..


Thanks in advance for your replies.

The assessee is an infrastructure company which books travelling tickets for domestic as well as foreign flights from the travel agent for business purpose. Whether the assessee is liable to deduct TDS u/s 194C as the assessee is regularly dealing with the travel agent. For e.g. the assessee incurs a travel expenditure of Rs. 200000 from the travel agent on a regular basis. Would it attract TDS liability under any other sections apart from Sec. 194C?

Is I eligible for Exam days credit during serving of Excess leave?

Hello Everyone!!
I am in some serious trouble, please help me out>
Actually I am in CA Final and my attempt is May 2015, and I am doing my articleship from Gwalior, but I have some BIG issues with my CA, because of his behavior almost every article is very much disturb, i asked him to give me transfer, and he said that he will give me transfer after some days, and he wasted my time, meanwhile I completed my 1st year of articleship, PLEASE TELL ME WHAT CAN I DO NOW??

Should I COMPLAINT TO ICAI??
And what about FORM 120??

because he is not ready to give me transfer at any cost.

PLEASE GUYS HELP ME

KIND ATTN. SIR

OUR ASSESSEE BEING A REGISTERED TRUST APPLIED FOR REGISTRATION U/S 12A (a) OF THE INCOME TAX ACT.DURING THE HEARING WITH IT ASSESSING OFFICER, HE HAS POINTED OUT THE FOLLOWING REMARKS AND THE SAME SHOULD BE AMENDED IN A SUPPLEMENTARY DEED (AS REGISTERED SUPPLEMENTARY DEED) :
1. THE OPERATION OF TRUST SHOULD BE CONFINED TO INDIA ONLY( FOR WHICH IN THE TRUST DEED WE HAVE MENTIONED AS FUND ESTABLISHMENT IN INDIA )

2. IRREVOCABLE CLAUSE
3. INVESTMENT OF MONEY AS PER THE MODES MENTIONED U/S11(5)( IN THE DEED WE HAVE MENTIONED AS INVESTMENT ALLOWABLE IN LAW)
4.To publish books, magazines, charts, issue related IEC (Information, Education and Communication) materials and other periodical illustration for generating the income for the trust for the benefit of its aims- SHOULD BE AMENDED AS WITHOUT THE WORD GENERATION OF INCOME , SINCE IT IS CONTRARY U/S 2(15) .
BUT U/S 2(15)COMMERCIAL ACTIVITY IS ALLOWABLE UPTO RS.25 LAKHS AS PER THE AMENDMENT WEF AY2009-10.
KINDLY CLARIFY . SINCE AFORESAID AMENDMENTS ARE NEEDED TO CONFIRM THE REGISTRATION U/S 12A(a) OF THE ACT AS PER IT ASSESSING OFFICER.
WITH REGARDS
CA.P.SHANGAR

they say higher investment implies greater risk... but with higher investment in your business aren't you able to have better technology and competent professionals to manage your business, better advertisement and distribution system,etc all these factors reduce risk.. then why is it said that higher investment implies higher risk?

it is always said that the equity shareholders either have windfall gains or lose their investments completely.. what is the reason for such extreme fluctuations?