09 September 2013
I am a university professor .I got 1.5 lacs as honorarium for conducting state label entrance test.This income will go to salary head or any other income.Kindly advice me.
09 September 2013
The honorarium received by you will be taxed as Income from Other Sources. This is because for any amount to be taxed under the head Salaries there should be Employer Employee relationship between the payer and receiver. Since in case of honorarium there does not exist any Employer Employee relationship, it will not be taxed as Salaries.
Teachers do invigilation checking of answer books and other remunerative work in university examination weather that income is part of salary or that will also be income from other sources
09 September 2013
Invigilation checking of books comes under IOS, Generally where teacher's are not working as an employee such incomes comes under the purview of IOS...
What is IOS, my query is if I get 2lacs from conducting practical exams, checking of answer books etc from my University and other Universities ,where shoud I put this mony In ITR
There was some mistake in putting query that means if i get any income from conducting he examination that I have to put income from other sources (IOS)
09 September 2013
acting as center superintendent working as co- ordinator exam, checking of answer books etc .For all these jobs university pays hansom money THANKS
One of the expert in response to a query has said that for assessment year 2012-13,although last date of issue of intimation 143(1)is 31st of march 2014 .if one does not get any notice/intimation by sept 30.ITRV is deemed to the intimation 143(1).
16 October 2013
The intimation shall be sent before the expiry of one year from the end of the assessment year in which the income was assessable. In other words, before the expiry of one year from the end of the financial year in which the return was filed.
16 October 2013
As per the provisions of Sec154, the Assessing Officer may amend any intimation or deemed intimation u/s 143(1) without prejudice to the provisions of the Act.
Intimation u/s 143(1) cannot be treated as conclusion of assessment process because such intimation is a deemed notice of demand u/s 156. The department has clarified that the intimation is merely an acknowledgement to the fact that the return filed has been accepted and does not contain any error apparent from record.
16 October 2013
U can contact CPC, Banglore on Toll Free No. 1800 425 2229 or Direct Line 080-22546500. Beforehand ready with basic details of the assessee like PAN, Date of Birth/Incorporation/Address etc for verification or input.
U can explain ur case to call centre executive of CPC & request them to forward Intimation u/s 143(1) on email address regd/mentioned in ITR or at regd postal address by post within a week time.
Thereafter u can apply for rectification to CPC either online or manual by way of writing letter to CPC, Banglore.
16 October 2013
I am a senior citizen 65 plus age ,I submitted my revised return in the month of Aug 2012. I have yet to receive 143(1). what could be the reason of delay
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