Payment to hotel by Company of directors (who stays outside India only for busines purpose they come in India ) 2 Bills of Rs. 140000& Rs.111192.
So TDS Should deducted or not???
If Yes then how much % ??

Hello everyone,

I know that under section 154 return can be rectified only if there is mistake apparent from record and if we do not claim the TDS then it does not amount to mistake apparent from record but it is a fresh claim.

In my case i have properly computed the tax liability after adjusting the TDS as per 26AS but my staff made a mistake while filling the ITR and he did not mention the TDS details due to this there is tax payable of Rs.20000/-

Now client may receive the demand notice and his tax refundable in future may be adjusted. What can i do to rectify this mistake ?

RETURN WAS FILED AFTER THE DUE DATE/BELATED RETURN
waiting for the views of the experts.

Can u tell me what should be the accounting treatment of any asset purchased by the company and gifted to the employee.Whether it should be directly expensed out through Pnl or it should be recognised as an asset first and then transferred it to PnL. Kindly answer asap

Long Term Capital Gain(other than Securities) of Rs.1000000 arised on 15/07/2012 but the assessee has paid the Capital Gain Tax of Rs. 200000 on 21/03/2013.

Whether the Interest on 234C would be chargeable on Such Capital Gain Tax or not?

In my opinion the interest should not chargeable as per following proviso

Provided that nothing contained in this sub-section shall apply to any shortfall in the payment of the tax due on the returned income where such shortfall is on account of under-estimate or failure to estimate—

(a) the amount of capital gains; or

(b) income of the nature referred to in sub-clause (ix) of clause (24) of section 2,

and the assessee has paid the whole of the amount of tax payable in respect of income referred to in clause (a) or clause (b), as the case may be, had such income been a part of the total income, as part of the 1[remaining instalments of advance tax which are due or where no such instalments are due], by the 31st day of March of the financial year:]

Please help me.... thanks in advance

can any tell me what happens if a company books any exp under the incorrect head?

Pl give me advise.

I have to file return of an individual ( men- Myself) for AY 2011-12 after due date of filing on 14/03/2013 but after filing one mistake found in my return I was file my return U/S 139(1). So Pl give me advise my revised return in which U/S file ( U/S 139(5) or U/S 139(4). My other data and annual income is same.

A Non Resident is providing services of language translation from french to English.Can it be recognized as consultancy service as per Income Tax Act?

Please quote relevant section for support of the Answer...

Reply as soon as possible....

DEAR SIR,

WE ARE MFG. PVT LTD CO. REGISTERD UNDER SERVICE TAX. SIR I WANT TO KNOW TWO THING

1 WE ARE PAYING GTA ON 25% AMOUNT OF FRIEGHT MEANS CLAIMING 75% ABATMENET PLEAS TELL ME EXEMPTION NOTIFICATION NO. UNDER GTA


2 WE ARE PAYING SERVICE TAX ON 75% AMOUNT OF SECURITY BILL, MEANS CLAIMING 25% ABATEMENT TELL ME EXEMPTION NOTIFICATION NO.


THANKS & REGARDS

Suppose if a senior citizen has a fixed deposit with a bank and it will mature in June 2013 and the total interest receivable on such deposit is Rs 10,000/- The assessee does not have any other income chargeable to tax.. Then when should one submit 15H form and what should be the assessment year to be mentioned i.e 2013-2014 or 2014-15 ?

GAIN OF 4 LAKHS ON SALE OF AGRICULTURE LAND..
BUT NOT RE-INVESTED IN ANY OTHER LAND

AS PER SEC 54B ASSET CAN BE PURCHASED WITH IN A PERIOD OF 2 YEARS FROM THE DATE OF TRANSFER,.
HOWEVER WE HAVE TO FILE ITR NOW,NOT YET RE-INVESTED ANY WHERE,

PLEASE LET ME KNOW WHAT ARE THE POSSIBLE WAYS OF SAVING CAPITALGAIN TAX IN THIS CASE