My client is going to buy a new building & a contractor is asking for Vat & service tax on Total flat amount. Is it according to law & can we deduct Tds as my client is buying a Flat ( Building) with a Contractor.

Dear Experts Excise Duty is imposed on manufacturing goods at the time of goods made or after it has been sold & amount received.

Dear Sir
I have a trust reg U/s 12a(a). I want to know to file its return for a.y.2013-14 in phy mode or electronic mode. That trust have a audit u/s 12A(b).

Dear Sir,


Kindly reply for the below query:-


I have to prepare balance sheet of a partner ship firm. There was no sale ( no business) during the year 2012-13. It has fixed assets. I understand depreciation will not be allowed by tax authority. Is it correct? If yes will I have to book depreciation ( based on IT rate as it is non corporate assessee) in balance sheet and to disallowed in computation of income.

Interest can be paid maximum 12% simple interest p.a..

But is it allowed to calculate interest on closing balance of partner's capital a/c which remains at the end of EACH DAY (in practice it is called as "cut-miti basis".)

i.e. Shall we calculate at flat rate of 12% p.a. simple interest on closing balance on 31st march OR on "cut-miti" basis (daily basis)??

2nd proviso to section 269T states that provision of section 269T doesnt apply to any loan or deposit accepted "FROM" govt., govt. co., corporation established under Central/State or Provincial Act etc. Does it mean provision of section 269T is applicable to govt., govt co., corporation and insitution as may be notified by central govt., if loan/deposit is accepted "BY" them.

As per section 269SS/T, assessee cant accept/repay any loan/deposit except by account payee cheque/draft...

Accordingly we have to give disclosure as stated in demanded in form 3CD.

But, what is the logic of this provision??
It is only disclosure. Such payment or acceptance of loan/deposit doesnt disallow the loan/deposit. What is the logic of government?

Dear Sir,
My friend working as a employee in ICICi lombard general insurance. are they eligible to give any bonus to employees?
thanks and regards

If any assessee get his accounts audited & Form 3CB and 3CD is uploded by CA & approved by assessee before 30.09.2013 and ITR-4 have been submited after 30.09.2013 what will be the penalty imposed by IT Dept.

Dear Sir,
One of my client received letter from income tax department new delhi about non filing of income tax return on 27/05/2013 asking non filing of return for A.Y 2010-11 and 2011-12 but he is an Major in army earlier his department file his income tax return but after transfer neither his department nor he submitted return but TDS has been properly deducted and deposited.
Now he has to reply to the letter so he told to e-file all the return till today i.e 4 years returns A.Y 2010-11, 2011-12, 2012-13, 2013-14
Please help me in this matter can i file all the four years return together and reply to the letter stating the actual situation...