Income Tax Return for A.Y. 1998-99 filed on 30.11.2000. Delay in filing return due to not providing zerox copy by IT Department as search had been conducted on 09.09.1998. However Assessing Officer accepted the reason for late filing of Audit Report and Income Tax Return and accordingly dropped penalty U/s 271 B. IN this interest U/s 234 A is payable or Not ? Is there any judgment / Circular/ Notification in favour of assessee ?

Please advice me at an earliest

I've doubt in one example question form COST OF CAPITAL, pls help me to solve. The Q is: X Ltd. issued Debentures having face value Rs.1000, rate of interest @ 20%. Issue is before 6 years. Investor's current required rate of return has increased to 25%. Calculate return to investors, if current market price is Rs.750.

The solution is as :-> Rs.1000*20%/750*100 = 26.67%.

My question is, if the current market value is less than the face value, then how could the return computed is more than the required rate of return?

Please help me on this topic.

Thanks.

Jaydip Trivedi.

What is TDS. And how it is treated in the final accounts.

An Employee who travelled in November 08 and in January 09 wishes to claim both travels for the F.Y. 2008-09, as the travel occurred in two different calender years and the total amount is less than the LTA amount. Can this be allowed to him?

Thank you,

An Employee who travelled in Nov 08 and Jan 09, wishes to claim his LTA for both these travels as he did not claim any LTA earlier. Can he claim both these in the FY 2008-09 since both these travels occur in the same F.Y., but, in different calender years, if the LTA Allowance suffice the total of two trips?

Can a company (which previously inflated its income) claim a refund of taxes already paid on its inflated income for all the earlier years?


what shall happen in case of an individual

My query is :
My client has a service tax registration number with a proprietorship firm let us assume "ABC". Now, he wants to close that service and add a new service but with a different proprietorship firm name. However address remains the same. Can I filed ST-1 as amendment in existing information or I have to apply for a new registration? Actually client dint file service tax return yet for few years and through amendment, procedure of surrender can be avoided.

hey frens i need your help

is there anybody who can teach me income tax- pcc.

i m refering v.k.singhania. but i m not able to remember the sections and provisions.

let me know the way how to secure good marks in income tax.

as now only 75 days r left and i m finding problem with tax. ..... help me guys..

Please explain the case law of CIT v. Century Building Industries P.Ltd (2007) 293 ITR 194 (SC) in detail.My question is why the Company has to deduct the tax on interest?

Please explain the case law of CIT v. Century Building Industries P.Ltd (2007) 293 ITR 194 (SC) in detail.My question is why the Company has to deduct the tax on interest?