I have recently started a business of Indian handicraft trading. I buy the products from an artisan and sell it to my clients online via facebook.

All the payments are credited to my bank account and all the expenses are paid either via NEFT transfers or via cash.

Recently I have got few international orders as well.

I wish to know what all accounting records will I have to maintain so that at the year end my bank account can be reconciled with my sales and expenses and the profit can be shown in the IT return? Please let me know the supportings also which I will have to attach with the invoices.

Also For the international order, I wish to know that is it compulsory for me to apply for IEC code?

Is there any way by which I can send the products without IEC code because as of now the business has recently started and I am not sure if I will get regular international orders or not, so I feel applying for IEC for two or three orders will result in a lot of paper work for me.

Your expert opinions will help me a lot.

Dear sir,
I have to file my return of income , but Isee a difference in the tax deducted as per AS26 and my form 16.I mean the tax deducted as per form 16 is more.What could be the reason , what do I need to do regarding this? Would it affect my IT return?Please reply soon ,very few days left.

Thank you so much.

Hi Guys i want to know that it is mandatory to write the unique TDS certificate number on the ITR-4 form in case of e-filling of income tax return..one of my client have issued me the form 16A where Unique certificate no. on the top of certificate is not written. and i have cross checked it with form 26AS and the amount mention in the form 16A is matching with form 26AS. so it is still mandatory to write the unique TDS certificate number or not..???

My DDO is not allowing me mess and washing allowance as taxfree allowance. Kindly clarify the position whether these allowances are taxable or not. It is also requested that please solve the query with income tax section or any notification issued by the CBDT in order to satisfy my DDO.

sir
i forget deposit my advance tax for assessment year 2013-14 & last date of filng income tax return 31 july 2013. what can i do for this.

can i deposit my advance tax before 31 july 2013 & file itr
plz suggest me

Dear All,

I wanted to ask that, although basic rate of deduction of TDS u/s 94C on individual is 1% but what if I deduct TDS @ 2% on individual contractor u/s 94C.

Will this attract any penalty OR Fine?

Or There will be no problem ?

Will there be any questioning regarding, why i deduct 2% TDS instead of 1%?

Please Reply !

Dear Sirs,

I am fill the TDS return through RPU software for the First quarter for this fy 2013-14. It ask the TRN(Tan Registration Number). Our Concern lost the e-mail of TRN while registering the TAN. Now Please help me how Can I find this TRN?

HE FREIND MY FRND...WANT 2LAKH KA LOAN FOR SUCH BANK ASKES HIS INCOME RETURN BUT TILL THE DATE HE DIDN"T FILE HIS ANY RETURN WHAT I THOUGT IS THAT KI HE SHOULD FILE HIS NIL RETURN FOR A.Y.2012-13 & FOR 13-14 PAY TAX FOR SAY IN THE RANGE OF 1000-1500 IS THE OKAY OR ANY OTHER STEP PLS....HELP

dear sir/madam
greetings

one of my relatives has provided professional services(doctor) in a
hospital for 4 months (01.04.12 to 25.07.12. form 16A) and then worked
as a physician with other hospital on salary(01.08.12 to 31.03.13 FORM
16). shall i take her 4 months income under PGBP or under income from
other source because in the a.y 2012-13 she provided services in that
hospital for whole year and income was taken under PGBP and maintained
P/L a/c and B/S

How do I compute income from House Property, I have received a rent of Rs.1,00,000 in the last financial year.