PAN applied and PAN issued for AOP in May'2017..But we have Partnership Deed.PAN issued on the basis of this deed.
There is no such option to change/correct the PAN Category in the PAN correction Form.
Please advise me what to do now.

Sec. 80iac of income tax Act gives tax benefits to startups for 3 years. Suppose for PY 2017 T/o is 20 crores. For PY 2018 T/o is 23 crores. Hence this entity has claimed exemption under sec. 80iac and still one more year to go. Now suppose for PY 2019 T/o is 30 crores (i.e. exceeding the limit of 25 crores given in the section) then it will not get exemption u/s 80iac for PY 2019, but what about PY 2017 and 2018? Will the exemptions claimed earlier get reversed

I have not recd my refund for AY 2016-17 in spite of my outstanding demand for AY
2009-10 being cleared as no demand in CPCAO portal. I Have been asked to contact
Local ward office Mumbai to cancel the demand since the outstanding demand is still
Reflecting in the official CPC Portal. hence my refund is still kept on hold till outstanding demand is deleted by Concerned AO although he has given order no demand in his portal
Also Cpc Bangalore has sent letter to the concerned officer to confirm the outstanding dues failing which refund will be issued without setting off dues
Kindly help me to get refund .

Hello,

I have a question. It is very clear that being a proprietor if my business income is more than or equal to 8%/6%, I can simply go for presumptive taxation and no tax audit is reuired

But my question is if my income if less than specified % or in case of loss, if I am filing ITR 3 along with financial statements means Balance Sheet and P&Laccount, even than am I required to have tax audit?

Dear

Assesee sold a old house property in FY 2016-17, which was bought 10 years back. Land cost can be obtained from the land document. However no records are available for cost of construction and cost of imprvoment .

How to calculate the cost of improvement and construction when no data is available

I have income from FD and home tuition fees. Income is below 2,50,000 rs. P.a. is it income from profession OR business?
So which income head is applicable? Is presumtive basis applicable as i dont want to prepare records? Which itr form to be used?

A foreign company (X Inc ) sold goods to a Indian company (y Ltd). income arises by these transaction, to foreign company is taxable in India? 1.foreign company has no business connection India. 2. There is no DTAA between above countries many people said that business income of non resident only taxable in India if he is having any business connection India. but where it is specifically provided in section 9, sec 9 says that any income, whether directly or indirectly, through or from a business connection in India is deemed to be accrue or arise in India. in the given case the foreign company accrued above income in India. as per section 5 any income accrued in India is taxable.

Respected Sirs,
If interest is credited to the Bank Long Term Loan A/c and it is observed that the entire interest has been paid which can be verified from the bank statement, then, will the interest be taken to the balance sheet along with the Bank Long Term Loan? It is obvious that the interest paid will be debited to the P&L A/c but since the interest has been fully paid it should not be credited to the liabilities side of the balance sheet. Kindly correct me if I am wrong. Is there any case law or circular or notification in this regard? If yes, kindly send it to micky_arya@yahoo.com. Thanking you,
Dheeraj Arya.

Dear Experts, How to generate part B in Form 16 by employer? Thanks in Adv, Maya.

I have 1 queries:

My employer has deposited 10% in NPS(S.80CCD(2d)). Can I also deposit 10% of my salary on my own in NPS and be eligible for deduction. THis is apart from Rs.50000 available u/s80CCD(1b)?

Thanks very much in advance for the information.