This Query has 4 replies
I am a business person. We have started a private limited company on Nov 2012 and still now no income generated and there is no bank account opened but we have PAN. Still we are doing office indoor works. We dont have sign board, no commercial power supply ( service applied). Do i need to file income tax
This Query has 1 replies
THE ARREARS OF SALARY OF LATE HUSBAND RECEIVED BY HIS WIDOW WIFE AFTER 4 YEAR OF HIS DEATH.
IS SHE WILL SHOW THAT AS A CAPITAL RECEIPT AND REDUCED HER TAX LIABILITY ?
PLZ HELP ME OUT......
This Query has 2 replies
I had an FD with a bank for 3 years. On initial deposit the amount was 90,000 and there was no liability of TDS on the same. Now in the 3rd year, the interest amount crossed 10,000 the liability of TDS was attracted. But since the bank did not have my pan no, so the tds was deducted @20% instead of 10. On contacting the bank, i was made aware of all this and the bank even refused to issue any tds certificate to me as my pan was not available..
Is there any way I can claim deduction of this TDS?
This Query has 1 replies
SIR HOW MUCH DOES IT COST TO MAKE A GENERAL REGISTERED PARTNERSHIP FIRM ?
This Query has 1 replies
Can the asset and liabilities of a person be trfd to spouse or legal heir after his/her death. If so, any legal compliance need to be done??
This Query has 1 replies
WHAT IS THE DUE DATE FOR INCOME TAX RETURN A. YR 2011-12,IF DATE EXTEND THAN EXTEND DATE ALSO???????
This Query has 3 replies
I hold a family pension account with a nationalized bank. For the FY 2010-11, the bank deducted a TDS of Rs.40000/-(approx.). When I approached the bank, I was told that Pension accounts are subject to TDS and hence bank has deducted the TDS rightfully. My contention was that since it is a family pension account, it is not subject to TDS as Family pension is considered as "income from other sources". With this proposition, I approached the Ombudsman and the Ombudsman upheld my argument partly and directed the bank to pay (only) the interest on the amount of TDS deducted. The interest amount was paid from the date of deduction of TDS till the date of judgment by Ombudsman. However, the Ombudsman also stated that the issue of TDS is outside the ambit of the clauses mention under the Banking Ombudsman Scheme (BOS) and hence asked me to approach Consumer Redressal forum.
I was reading the Income tax department’s official document on TDS where I came across 2 circulars:
1. Circular no. 285
2. CIRCULAR NO. 2/2011 [F.NO. 385/25/2010-IT(B)], DATED 27-4-2011
Both the circulars talk about ‘Refund of TDS’ by the IT authorities to the deductor (in this case, the Bank).
I would want to know if (on the basis of either or both the circulars) I can ask the bank to file a claim to the Assessing officer for the refund of TDS. (as the TDS applicable is nil and TDS deducted is Rs.40000).
I approached a few CAs and most of them found this case complicated.
Will appreciate if the experts could help me out with their valuable inputs.
Thanks.
This Query has 6 replies
In retail shop, purchases not shown in their books of a/c. But they did a sales. Not done a proper entries against the purchases for the year of 11-12. The monthly sales return, annual return has been submitted.The b/s sheet showing extreme profit.
The accountant ignorance the purchases entries not done properly.
Is there any other way to reduce the profit.
We can increase the expenses to the some extend.
Apart from that anything else. Pls advice
This Query has 1 replies
can we deposit the tds of all qtr in one qtr and file the return at once. what is the consequencies
This Query has 1 replies
if tax is not deducted in first qtr whether it is necssary to file return
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Income tax for zero income company