I m filing ITR 2 for F.Y. 15-16 for having 1 lakh rupees STGC from share maket trading. I have no other income. So inspite of having non taxable income it shows me 15000/- of income tax at special rate. is there no benefit for STGC not excedding Rs 250000/-?

Dear Experts

We are manufacturer of condenser used in refrigerator and manufacture wire in house that is used in condenser.
For wire manufacturing we purchase MS rod, because of not having capacity to full fill demand of production dept. we also purchase wire from outside suppliers, one of the outsider supplier purchasing rod from us and selling wire to us that was produced from the rod purchased from us.

Now my query is that, is this scenario covered in under section 194 C ?

Should we deduct TDS on the payment to supplier for purchasing wire under section 194C?

Pls suggest.

Thanks
Sushil Gupta

TDS taken by the service providers to a partnership was Rs 35000 in the FY 2014-15 and after filing return the amount was refunded by CBDT (Say) Rs 32000 and interest Rs 500 after adjustment of Tax of Rs 3000.
Now, return for the FY 2015-16 pending where TDS of Rs 38000 was taken by the service providers where actual tax payable is Rs 3500 for the FY 2015-16
Pl advice how to show in the PL and B/S with journal entries too.

A partnership firm is there wherein ITR-6 has to be filed u/s 44-AD for the ay 2017-18. Nett Profit has arrived as at Rs 7,887/= exactly equal to 8% of gross total receipt. Whether Remuneration 90% Rem of Rs 7,098 will be allowable under allowable expenses u/s 44-AD. If the said Rem is allowable, nett profit after providing 90% rem will arrive as at Rs 789 less than 8%. Please guide me what to do in such case. I shall be highly obliged.

SIR

I HAVE A PAN AND BY MISTAKE A SECOND PAN IS ISSUES TO ME. WHEN I FOUND IT I APPLIED FOR SURRENDER & CORRECTION IN EXISTENCE PAN WITH NSDL RECEIPT ACK NO. N-082699700165740 DT 25/07/2017. BUT ITS SHOWN Your application for 'New PAN Card or/and Changes or Correction in PAN Data' is under process at Income Tax Department . I CALLED TO NSDL CALL CENTRE HE TOLD ME THAT PLZ CLEAR YOUR PAN DATA WITH YOUR RO. I MAILED MY RO BUT THERE IS NO REPLY.
WHAT CAN I DO NOW. HOW CAN I GET MY CORRECT PAN.
PLZ HELP ME..

is tds applicable on LTCG u/s 112A ,if yes who will deduct tds??

Sir the book profit is Rs 2,69,555 in such case how to workout the remuneration to working partners for the Ay 2017-18. Further I would like to know how to workout interest on capital. Interest on capital should be on opening balance or on closing balance. Please guide me and oblige.

Certain taxpayer was a resident individual during (“assessment year”) AY 2017-18 as per income tax Act,1961. As per the new requirement, the taxpayer is required to link his Aadhar no with his Pan to complete the online return filing for AY 2017-18.

It is pertinent to note that the taxpayer had left India on 26 Dec 2016 for employment on a work permit. Accordingly, the tax payer was not in India from 27 Dec 2016, except for a short visit from 24 Jun 2017 to 08 July 2017.


As per the AADHAR Act, minimum stay of 182 days in India in the preceding 12 months as on the date of application is required for anyone to be eligible to apply for an Aaadhar card. As of date the the taxpayer’s eligibility to apply for Aadhar card is to be verified with reference to his stay in India in the 12 months preceding 31 Jan 2018

From the facts of the case of taxpayer, it can be observed that the taxpayer was in India for less than 182 days in the 12 months preceding the date of application for Aadhar card .Therefore, the taxpayer was not required to apply for Aadhar card.

Accordingly, the tax payer is not required to obtain Aadhar card and therefore is unable to upload return for AY 2017-18. Can he do physical filing .

hi i want to learn efilling of tds. plz tell me how i ll get know everything about tds filling process. thanks in advance..

Dear sir

My client who is registered under Kerala Cooperative societies Act , who received a notice from income tax stating that your balance sheet shows EPF liability hence the deduction claimed in the respective year by way of EPF should be reversed and deemed to be income. The party has submitted ROI. Is there any provision/case laws which i can refute the same.