CMA. CS. Sanjay Gupta's Expert Profile

Queries Replied : 24107

About me

"PROUD TO BE AN INDIAN"

Hi!

I am Sanjay Gupta from "City of Joy - Kolkata". I have completed ICWA, M.Com, CS, DIM and currently pursuing MBA. Presently i am working for Hindustan Aeronautics Limited, Barrackpore Division as a Dy. Manager (Finance). Prior to this, for last 3 years i worked for "West Bengal Industrial Development Corporation Ltd" as Officer On Special Duty and before that for 3.5 years i worked for "Jekay Group of Companies" as Manager (F & A).

I am a part of caclubindia Family to share whatever knowledge i have and also to enhance my own knowledge. We all learn something everyday, because education never ends be it in school, college, institutions or in Journey of Life.

My message to all "Keep Sharing your knowledge to help people. Knowledge increses by sharing and not by preserving"

Thanks for visiting my profile.

CMA. Sanjay Gupta

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nageshmagaji says : IS KTEG APPLICABLE IN THE YEAR 1997-1998
WE ARE IN TO DEALING OF SAREES, WE HAVE MADE INTERSTATE PURCHASES i.e HANDLOOM GOODS WORTH RS.1,03,170/- IN THE YEAR 1997-1998,AND IN THE YEAR 2003, I HAVE RECEIVED NOTICE SAYING THAT I HAVE TO PAY TAX ON THE PURCHASE AMOUNT i.e RS.1,03,170/- AND WITH NO INTENTION TO AVOID IT I HAVE NOT PAID TAX. AGAIN IN THE YEAR 2013-2014 I HAVE RECEIVED NOTICE SAYING THAT"YOU HAVE FAILED TO PAY TAX u/s 13(2) of the KST ACT 1957" 1% OF 1,03,170 = RS.(1,031/-)+PENALTY(RS.1994/-) GRAND TOTAL=RS.3025/- Sir please tell me do i have to pay tax on entry of handloom goods which is exempted,please please assist me in this matter as they have limited the time to 7 days

H Thakar says :
I have taken PCFC from Bank and bank have charged Interest/debited interest from my current account. What is the treatment of interest in books of accounts Pls reply

jay prakash dubey says : TDS ON STIPEND
Sir all author having different opinion but as i see various decision in Favor of assessee like.... 1) ITAT chandigarh bench in the case of Dr. Rahul Tugnait Vs. ITO. 2)Allahabad High Court Decision in the case of commissioner of income tax Vs B.L. Garg 3)Karnataka High Court Decision In the case of A. Ratnakar Rao Vs Additional CIT.. in all cases Department take it as taxable but as the decision given in above case... it is clarify The considerations which make up the concept of a “Scholarship for meeting the cost of education” in s. 10(16} are that the payment is intended to be an income receipt in the hands of the scholar and that whatever is paid is intended to meet the cost of education of the recipient. Since the purpose of the payment is to meet the cost of education, the question whether the quantum of payment is adequate or inadequate, or, is or is not in excess of the requirements are all beside the point. and also in the case of girish saran Vs acit the tribunal allowed that the tax payer claim exemption u/s 10(16)having preview the fact that the recipient does not spend the whole of the amount or saves something out of it or utilise for other purpose would not detract corrector of stipend/scholarship.

raju says : intimation u/s 143
sir i have found intimation due to depricaton not add in my business income i wants to rectrified by unline i am confuse what is do after select the rectrification of my business income