I have recently started a business of Indian handicraft trading. I buy the products from an artisan and sell it to my clients online via facebook.

All the payments are credited to my bank account and all the expenses are paid either via NEFT transfers or via cash.

Recently I have got few international orders as well.

I wish to know what all accounting records will I have to maintain so that at the year end my bank account can be reconciled with my sales and expenses and the profit can be shown in the IT return? Please let me know the supportings also which I will have to attach with the invoices.

Also For the international order, I wish to know that is it compulsory for me to apply for IEC code?

Is there any way by which I can send the products without IEC code because as of now the business has recently started and I am not sure if I will get regular international orders or not, so I feel applying for IEC for two or three orders will result in a lot of paper work for me.

Your expert opinions will help me a lot.

a bank is paying rent of building including service tax on rent.

1.- can bank can take CCR on service tax paid on rent
2.- ccr is more then service tax payable on financial service provided by bank then what is process of service tax refund
3.- please tell all procedure
4- what will effect on service tax return

a person is agent of Life Insurance Corporation (L.I.C.). his total commission of A/Y 2013-2014 is Rs. 25,00,000.and also same(approx) in last five years.
but he never filed return with balance sheet in past. while he has asset amount Rs. near about Rs. 50,00,000 form past


Question-:

1.- what will be treatment of capital and other assets
2- now he can show is capital in full value or not
3- please provide solution

Dear all,
I need guide for filling WB P.Tax form III for return filing alongwith arrear and late fee.If possible arrange a sample.
I shall be grateful to u.

a person is agent of Life Insurance Corporation (L.I.C.). his total commission of A/Y 2013-2014 is Rs. 25,00,000.and also same(approx) in last five years.
but he never filed return with balance sheet in past. while he has asset amount Rs. near about Rs. 50,00,000 form past


Question-:

1.- what will be treatment of capital and other assets
2- now he can show is capital in full value or not
3- please provide solution

My Mother is 64 years old. For example Her approx. income for FY 2013-14 will be as follows: -
Intt. income from deposits in Bank - 1,60,000/-.
Post Office MIS Intt. 36,000/-.
Interest From Deposits in NBFC Company - 2,20,000/-.
LIC Pension Scheme Income - 24,000/-.
NSC Accrued Intt. - 10,000/-.
So the total Income will be around 4,50,000/-. Let us say She has also taken loan from me of about 35,00,000/- My Question is if she transfers 1,00,000/- to me from her intt. income and bring her total income down to 3,50,000/-. Further she makes investment of rs 90,000/- in 80C and 10,000/- in 80D so that her income tax is nil then can she give 15H to Bank/Company where she is having said deposits

I read in new 15H for FY 2013-14 that only TAX should be nil on total estimated income ie if income doesnot exceeds 2,50,000 + 1,00,000 of 80C (if one has made any such investments) + 80D Investments etc. IS this correct ?

Further, in 15G for the FY 2013-14 tax should be nil and income from Shares/Securities/Dividends/Mutual Funds/Intt on Deposits/NSC Withdrawal must not exceed 2,00,000/- IS this correct ?

My other concern is that if she is transferring some intt. to me for the loan which i have given to her will section 60 of income tax act of 1961 will be applicable ?

a partnership firm is dealer of hero moter
cycle. there are two activities of this firm-

1) sales of motor cycle
2) servicing of motor cycle

Q.- the firm purchase a common computer software from hero moto agency for use in showroom for sales purchase of motor cycle and also for service center - the firm is paying service tax on servicing of motor cycle in service center . then the firm can book CCR on service tax paid on annual maintenance charges of software

Which book will be best for CA Final 1st group SFM. I had passed 2nd group before 2 attempt but 1st group is troubling me which is said as easy group than 2nd one. Can i get suggestion for Best book for SFM covering concepts and other book of 1st group

For an individual having an income Rs.176000 for AY 2012-13, wants to file return of income through efiling. What would be the penal and time limit for the same. Is there any barred to file return through efiling? Can he/she file return of income both the year i.e.2012-13 & 2013-14 together at one time through efiling?

Sir if a person open 3 or 4 fd accounts in same branch to avoid tds deduction on interest.....we consider aggregate interest on all fd or take seperate interest on each fd for tds purpose?