Bhaskaran Chackrapani Warrier's Expert Profile

Queries Replied : 22307

Graduate of Kerala University.

Fellow member of ICAI.

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Praveen says : CA Final Exams
My last appearance in CA Final was in May 2010 under the old syllabus. I could not appear after that under the new syllabus. Can any please let me know the formalities to appear under the new syllabus? I am planning appear for the May 2012 attempt. Thanks Praveen

sunny batra says : marking
whose question are to be checked in case of all question are attempt.

ronak says :
Cn u plz let me knw, what is limit for affix revenue stamp on cash payment? whether it is 5000/- or Rs 10000/-

SUBIR SARDAR says : DIN
Two DIN are alloted to 1 director. What is the procedure to surrender one of them?

Ratan Sharma says : 143(2)
I have a querry plz see whether my contention is correct. Assessee filed return of income u/s. 139(4) for the A.Y. 2010-11 showing NIL return of income on 31/10/2011. A.O. issued notice y/s. 143(2) on Dt. 15/07/2011. I am going to challange the notice on following ground. As per Sec. 143(2) Where return has been furnished u/s. 139 or in response to notice under sub section (1) of section 142, the Assessing officer shall........... It means the notice u/s. 143(2) can be issued only when the return is filed in accordance with sec. 139 or 142(1). Sec. 139 reads as.... Every person (b) being a person other than a company , if his total income under this act exceeded the maximum amount which is not chargeable to income tax. Therefore where the assessee has filed his return of income showing income below the maximum chargeable to tax then such return is not covered by section 139. Therefore in such cases no notice u/s. 143(2) can be issued. The income tax act provides sec. 148 in such cases for assessment . If the A.O. feels then he can issue notice u/s. 148 but not under 143(2). Kindly communicate whether my contention is right in the eyes of law.