Need very urgent advise!!

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Pavel (Querist)
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04 March 2015 Dear experts, I am having issues with a problem for which I require your advise. The case is as follows:- A person is carrying on a proprietership business. He was not filing return for a long time. he wants to file return from Ay 2013-14 onwards. He was carrying on a transportation logistics business. As per 26as his amount income exceeds 50lacs. as per next 2 years his turnover already exceeded 1 crore. He has not taken any service tax registration. He wants to start up a company. My questions :- Can he clear his income tax pending records and make it up to date? Will he be liable for tax audit for the years 2014-15 and 2015-16 as his turnover exceeded 1cr? if yes, then what is the penalty? since he has not taken servic etax regsitration will it be a problem for income tax part? if yes, tthen what is the solution as service tax registration cant be claimed for back date. ? if the assesse wants to get the service tax registration after forming the company and not now can he do the same? how can the income tax pending chores be cleared? This is a case study. I need ur urgent help to crack the problem. need ur advise. Thank u

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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04 March 2015 1. Income tax and service tax is different separate compliance is required.
2.File IT return for AY 2013-14 before 31st March 2015.
3.Tax audit is required for 2014-15 and 2015-16.
4.He can clear his income tax dues/records and make it up to date.
5.Take service tax registration and pay service tax dues service tax dept may cross very income tax records.
6. Company formation can be done simultaneously.

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