A Pvt. Ltd. company have losses 80 Lac (Approx) of prior period. No business this year, and around 12 Lac Sundry Creditors to be written off through debit note. Due to this income raised by Rs. 12 Lac. Please advise this profit can be set off with previous losses or MAT eligible in this case, if yes than how much tax liability to be raised.

Sir,
Actually My Grand Father had started a partnership firm in 1987, that time he had applied for pan card through a Advocate he got a pan card (No:- AAAAJXXXXX), he had done Firm registration from Bihar Firm Registrar Under 1932 Act 58(1) till there no issue.
But last year when i had changed my Bank, and applied for other current account then came to know that My Pan is registered under AOP (Association of Person) and i having partnership firm registration certificate.
Now we are puzzled what to do, we can't change pan card because of Balance Sheet. Please provide me advise.

If the ownership of house is on name of wife and she is housewife and husband is paying all the EMI's. Can husband can claim the deductions prevailing to house property?

If husband gift/transfer a property/land to his wife and than his wife sell this property nd acquire sales consideration in her bank a/c further she gives this amount to her husband as a loan.

queries.
1. capital gain taxable in hands of wife or husband.
2. can wife give sales consideration o husband as loan or gift or both.
3. if loan than interest given by husband to his wife clubbed or taxable in hands of wife.

Thanks

Hi all

A Dealer doing car dealer business ( Maruti Suzuki) , Please let us know how the TCS 1% to be charged ( if vehicle value is more than 10' Lacs.)

Ex Showroom price(if above 10'lacs) + TCS1% - offers-Discounts + GST) or
Ex Showroom price(if above 10'lacs) - offers - Discounts + GST
which of the above calculation is correct.

Thanks
Loganathan.M

As per section 9(1)(vii)(b) if the service is provided outside India for earning a income outside India.

Therefore to take that position both the twin conditions should be satisfied
(a) it should be rendered outside India
(b) it should be for earning a source of income outside India

Suppose if the Seller in India Exports goods to Europe. Indian Exporter stores goods in Warehouse to sell the same to Customer and paying rental charges and sorting , Inspection charges to the warehouse service provider.
Whether TDS on Sec 195 attracted for the above case?

Hi...,
I have checked there is manual demand created by AO on the traces Portal of Total Rs.3,33,300 for the For FY.2009-10, 2010-11 & 2012-13.

While i visited to the ITO Nirman Vihar, Delhi, found clarification from the AO that It was created u/s 272A(2)(K) which for delay furnishing of TDS return. although i have filed those TDS statement within the time prescribed on due date.

I have filed rectification u/s 154 dated January 30,2019, but AO is not considering my application stating that time(4 years) for rectification is expired.

Now what recourse/ remedy is available to rectify those mistake which are apparent from the record of the tax authorities.

Thanks
Your valuable suggestion will be highly appreciable

How much time take to download 16A after submission of TDS return online?


Plz tell if anyone Knows!!

Dear sir

Ours is proprietorship firm and we filled IT returns for AY 17-18. But ITR V is not e- verified. We have sent signed ITR V twice to Certralised Processing centre Income tax department Bengaluru by speed post and ordinary post. before due date.

But they rejected our IT returns because if ITR V is not verified,
next what steps we have to take. Please suggest me.

If an employee works for 8 months with a company, please advise that how much standard deduction is he eligible for? Is it that Standard deduction would be calculated for 8 months proportionately i.e (40000 * 8 months /12 months)?