Dear Sir,

whether it is posible to take loan against Fixed Deposit taken under 80C of income tax (i.e for the purpose of saving the tax, Fixed deposit done in SBI lock in period for FD is 5 Yrs. as per provision of income tax.

And whether there is any tax implication for the same.

our company is a pvt. ltd. company trading in chemicals. we have more than 20 employees.


whether pf act is applicable to us?

Do we need to deduct Tax on selling expenses (Ex: Commission, brokerage) incurred while transferring a Capital Asset?

Expenditure will be claimed as selling Expenditure under Capital Gains and will not be considered under Profits and Gains of Business or Profession..

Thanks in Advance...

In case of Transportation of Goods by road service tax is payable by service receiver if service receiver is private limited company but can service receiver can transfer liability of payment of service tax to Goods Transport Agency ??

If we want to change a challan amount in correction statement of TDS Return filed.... What is the procedure?
And if two challans are to be merged in one ...... how can we give effect to it as deletion of challan is not allowed in correction statement.

Dear Sir,
A partnership firm opting sec. 44AD in AY 2013-14 and whose self assessment tax coming to Rs. 42500/-. I filled the itr 5 excel utility and clicked on calculate tax, then it calculated tax same as I calculated but I did not calculated interest on tax. I suppose that interest is leviable in above case, as self assessment tax is above Rs. 10000/-.

Please advise me.

I had filed e-return for the assessment year 2011-2012, recently I received a letter from CPC for arrear demand of Rs. 1110, so I deposited Rs. 1110 by chalan-280 as a regular assessment tax on dtd. 24/06/2013, now what should I do so that outstanding tax demand for a.y. 2011-2012 becomes NIL in my account. The outstanding demand which is last updated on dtd. 01/07/2013 has not considered the amount of Rs. 1110, which I had paid on dtd. 24/06/2013 by chalan-280, as a regular assessment tax, what is the reason for that?

IS it necessary to fill balance sheet in ITR-4 if an assessee have professional Receipts?

An assessee have an Income of 1 crore from salary & Other sources.

But he has only Rs.20,000 income from professional receipts.

I think i should go with ITR-4 only as professional receipts are there.

Is he suppose to fill balance sheet in ITR return?

For AY 2013-14, balance sheet and profit & loss account need to be uploaded in PDF while uploading xml file of tax audit report from auditor's login. I need clarification whether the same are to be scanned from signed balance sheet and whether all pages of schedules and annexures and notes on accounts are also need to be scanned and uploaded? if yes, is there any limit on the size of the PDF file?

if insurance commission Rs 110000/- and tds@10% has been deducted for FY 2011-12 but not filed return. if he file return today and claim TDS refund,Ao can demand Penalty of Rs 5000???

in my opinion, he is not liable to file return U/s 139 as his income is below taxable limit---Right??