Sir,
I am an self employed legal professional and receive my fees mostly in cash of which bigger amounts or after some collection at home I deposit in my bank a/c. My question is
1) Can I show even that part of my fees (in cash) which I spend immediately after receipt?
OR
Is it strictly necessary to deposit all my cash fees in my bank account?
2) Is there an I.T. Act provision that
cash deposits in a bank account more than 50000/- per annum shall be chargeable to tax in highest slab?

Hi, I have the following income for the FY 2012-13.
Loss on F&o: Rs 15,000/- (turnover Rs 1,00,000/-)
Salary: Rs 5,00,000/-
Capital Gains: Rs 15,000/-
Interest: Rs 10,000/-
Dividend: Rs 5,000/-
Is tax audit compulsory in my case?
Can i show Rs 8000/- profit on F&O to avoid tax audit?
How to fill ITR IV in such a case as ITR IVS doesnot accomodate capital gains

Regards

what is certified copies of papers and how the institute provide inspection of papers

I Ajay Shivbalak Yadav, CA FINAL Student From WESTERN REGION (Reg No.: WRO0265297) has cleared Group II in May 2013. While applying for Nov 13 Examination, I by mistake, selected Group 2 instead of Group 1 and made payment for the same.

Please provide me solution to rectify this error & also do provide me the direction for the same.

Please Reply To This Query As Earliest.

dear expert,

for asst year 13-14 i h m having below income
so kindly advise which form to fill

business income Rs 253192/-
accrued int on FD with SBI for capital gain RS.64985/-
Agri income RS. 64250/-

further i have paid to lic single premium for Rs. 50773/- so should i take full amount under 80C

Compute the net wealth of R as on 31-3-13 for the assessment year 2013-14.The individual is engaged in the business of processing and selling gold and silver articles in India and outside India:

Bank Balance- Rs,4,30,000
Unaccounted Cash Balance- Rs. 70,000
Gold Articles Rs.25,00,000
Silver Jewellery Rs.14,00,000
Guest House Rs.35,00,000
Motor Cars Rs. 6,40,000
Factory Building Rs. 8,00,000

R has taken a loan of Rs.8,00,000 by mortgaging guest house for purchasing factory building.

IF A PERSONS 1 ST BILL IS OF 10.20 LACS, HAS HE TO COLLECT SERVICE TAX ON THE SAME & IF YES ON THE WHOLE AMOUNT OR ABOVE RS 10 LACS.IE ON RS 20,000

Raghav sold gold ornaments on 16-7-2012 for a sum of Rs.10 lakhs, The gold was purchased in 1978 for Rs.60000 by his father.The fair market value of the gold as on 1-4-1981 was Rs. 1 lakh. His father gifted the gold to Raghav on 15-7-12.

He spent Rs. 2 lakhs till 31-7-13 on construction of house property

Deposited Rs. 5 Lakhs on 31-7-12 in capiltal gains accounts scheme

Spent rs. 4 lakhs on construction of house property till the stipulated time.

Compute the capital gains for various relevant assessment years.

Please help me solve this problem.

Dear Sir, i would like to know that if in the case of sales Tax proceedings the officer reduces the amount of ITC as claimed, what should be accounting treatment in this situation.

Example: ITC carried forward as per the balance sheet for the year 2010-11 was Rs. 75000, and the same ITC was claimed in next year.

ITC carried forward in the balance sheet of year 2012-13 was Rs. 25,000.

During Sales tax proceedings officer disallowed the ITC of 2010-11 and passed order for carry forward of ITC of Rs. 15,000 only.

how to reflect this position in books?
should we require to amend the audited balance sheet for 2011-12 and 2012-13

Please give me guidance in this regard.

Thanking You.

Profit nd loss a/c - e.g. we have an expenditure of Rs. 150000, and annual sale of Rs. 1250000, I want to ask whether such expenditure will be shown as separate item in P nd L A/C or will be added under the head of other expenses.