Vishnu Agarwal
16 July 2008 at 12:11

relating to form



what is the form 16 & for whom it is applicable & in what conditions it will be applicable.


A Agarwal

The AO served a notice u/s 148 at the address on which the return of income was filed with the department for that period. The basic question is based on following points.
1. That address on which notice was sent/ served is more than 6 years old.
2. During last six years more than six returns were filed with new address.
3. During last six years the department has sent more than four other notices or orders at new address.
4. The notice sent at old address was thru peon at old address.
5. No notice sent thru Mail or registered post or thru speed post at old or new address.

The question is whether the notice sent u/s 148 at old address will be presumed served or not.


Sarvesh Mani Tiwari,CFA(ICFAI)
16 July 2008 at 11:53

ITR U/s 44AD

Which ITR no is required to file u/s 44AD


CA RAMESH KUMAR AHUJA

There was a dispute among the partners of a three year old firm running a business. The dispute was settled and four partners out of the six decided to retire and a MOU was signed in this context by all the six partners. Each of the retiring partners has invested a sum of Appx Rs 30 lacs in the firm over the last three years. At the time of retirement the immovable properties were revalued and as a result of such revaluation each received Rs 2 crores. What is the position under the IT Act? Whether the surplus will be taxed as Capital gains?


Maitri Ketan Gada
16 July 2008 at 08:39

e-TDS - Return Pending for 07-08

IF TDS is dedcited for 07-08 only return is pending. for All Qtr. We can file now?


Kishan L. Agarwal
16 July 2008 at 04:13

relative for taxability of gifts

Whether a son in law is relative for the purpose of non taxability of gift to him by father in law?


pravin
16 July 2008 at 03:53

Taxation of Lease Income

What deductions are available for arriving at lease income? An individual has leased a car to a compnay and received a monthly lease rent after lease tax is deducted. If the asset is financed by that individual with borowed money, can he claim interest on such borroed money? If on the other hand, it is financed without any borrowing, is there any deduction available on some assumed interest rate?

Please quote relevant sections.
Thank you.


Rahul
15 July 2008 at 20:07

Can I file Paperless Return

If my annual receipt is more than 23lacs & TDS More than 51 thousand, can I file my return without TDS certificates ?


Arvindmjain
15 July 2008 at 16:28

Housing Rent Allowance

A NRI working with Indian company is psoted at London. He receies salary in India from the company. He recently bought residential property in mUmbai. he is also reciveing HRA. He is also paying rent. Whether he claim exemption for HRA.


Arvindmjain
15 July 2008 at 16:26

Housing Rent Allowance

A NRI working with Indian company is psoted at London. He receies salary in India from the company. He recently bought residential property in mUmbai. he is also reciveing HRA. He is also paying rent. Whether he claim exemption for HRA.