What is the amount of TDS u/s. 194- c in the following condition for Bills from CFA Aggent

Custom Duty Paid By CFA agent 250000/-
( Including Cess and other applicable duty)
add Service provided by CFA agent charges 300
plus service tax on rs. 300 i.e. 47
total bills Gross 250347/-
no separate bills issued for duty paid and service charges collected.

Dear all,

software development should be classified as business or profession?
as per income tax act business includes trade, commerce or manufacture and adventure in nature of trade commerce or manufacture.

pls advice as early as possible as its urgnt.

Thnks

while filing ITR1, by mistake I mentioned Let out property instead of self occupied property. for fy 2012 13 in ITR format it is compulsory to enter self occupied or let out.

I am availing the deduction of Interest on Home loan and HRA. However Ineterst is only Rs 20000 hence well within max limit of Rs 150000 for self occupied property.

I wanted to change the house property status from let out to self occupied property.

Kindly suggest whether to revise the return or any other procedure to be followed.

What's liability of vat and entry tax in m.p. if purchase from unregistered dealers If sale 1000 rs and u.r.d purchase 100rs vat rate 5% vat. Amount is vat 50 ya 45 please clear

What is the difference between Remuneration and Salary?

And If Director is given each month payment via cheque then it is mandatory to deduct TDS or we can treat it as a salary don't deduct TDS.

Yes what are the penalties of failure to deduct TDS?

If an assessee (male-60 years) is a director of a company and receives director's remuneration Rs 2,40,000 p.a. in the FY 2012-13. He also has income from Fixed Deposits and Savings Bank interest of over Rs 1,00,000.
Which ITR he is required to file for AY 2013-14???

An assessee (Male - 38yrs) is expected to have following incomes in the FY 2013-14:
Income from HP - Rs 7,60,000
Income from business - Rs 89,000
Income from Other Sources - Rs 42,000

According to his investments, he will be eligible for deductions as under:
80 C - Rs 1,00,000
80 D - Rs 5,500
80 TTA - Rs 10,000

Give some good suggestions on how to minimize his tax liability for AY 2014-15?

i did derviates trading. Total sales value of contract was 7.42 crore and total purhcase value is 7.41.

in whole process just made profit of Rs 50,000.
It needs to be shown as business income, but
Question is
1) How to show in income tax return? ie sales of 7.42 core less purchase of 7.41 crore or/ just profit of Rs 50k in business income.

2) Is tax audit required?

I hav a query about wealth tax implication.

Assesse is already assessing as a wealth tax assessee, owning assets above 30 lakhs including 3 house properties
now he has constructed new house in jan 2013 ie in fy 2012-13 and let it out on rent.
as per wealth tax act a house given on rent for 300 days or more is not included in definition of assets.
Now whether this new house is to be included in wealth or not.

that is the matter,please frnd give ur views/advice and whether there is any law/rule/supporting for that
thanks in advance......

Hello,
I am asking on behalf of my father. My father is a pensioner and has not filed his returns from AY 2009-10 onwards. The reason being he was critically ill in August 2008 and since has been recovering. In financial year 2008-09, he sold his house and the money was invested in Long Term Capital Gains. Subsequently, this amount was partly invested in building a new house. Now, he wants to voluntarily file his returns for AY2009-10, AY 2010-11, AY 2011-12, AY 2012-13 and AY 2013-14. My query is, which ITR form has to be used to file his returns for AY 2009-10 as he wants to show indexation towards the house he sold.
Appreciate a quick reply.
Thank you,
Merv