is it compulsory for a salaried employee to file income tax return?? N what if salary is exceeding 5 lakhs?

I am engaged in various items agency business, in which net profit is earned from 1% to 3% only and yearly turnover is around 80.00 lac. I can't declare 8% profit on the turnover. What is other alternative for me except getting accounts audited by a CA ?

My brother is a photographer and is currently freelancing. 1. Does such income come under income from business/profession? 2. We had purchased a motorcycle under his name 4 yrs back but he started freelancing just last yr in 2014 and uses the same for traveling to clients place, so can he claim depreciation in AY 2015-16? 3. If yes then will it be calculated on the original cost on 2011, or on wdv as on 2014 after assuming depreciation for first 3 yrs. We haven't claimed any depreciation on the bike for any earlier AY Thank u

I was working in Arvind Mill (Arvind Ltd)
now the mill has been closed the employer paid me gratuity & Compensation. But there was deduction as tax of Rs.28880/- against Compensation Amt of Rs.403724/- I want to know that compensation of loss of employment is taxable or Tax free ?

Incase i need to pay the late payment fees as per 234(E) after selecting minor code 40 , under nature of payment no such section is available as 234(E) how do i proceed further?

Dear Sir,

Please let me know that drawing officer is competent for exemption of HBL interest on third house. My officer is not allowing the interest on HBL and advising to claim refund as the rent collection more than one house is to be treated as business and saying he is not competent in this case.

Regards

i applied for loan provider agent, i send previous return(ay 2012-13 to 2013-14) copy to him. but he submitted return of ay 2014-2015 with wrongly income data to efilling site. acknowledment send to cpc with my duplicate sign by loan provider agent . after 8 month i login income tax efiling site, i found my e-filling password is changed by him.i found my return ay 2014-15 already submitted.how to cancelled my return for ay 2014-15

please reply...

What are the taxability on a person who is involved in the business of manufacturing and designing of ladies suit and sale into the market.

Thier activity involve
buy fabric from the market, cutting, design, stitch and sale.

whether this comes under excise,
and service tax?

and what is the vat implicaitions in delhi?

I had efiled my IT Return for Ay 2013-14 during January,15 claiming IT refund of Rs. 40000/-. But I had received a IT demand notice from CPC, because the above ITDS was not reflected in Form 26AS. Now, the ITDS has been reflected in the Form 26AS. What should I do now to claim my refund ?

I had taken a education loan of Rs.5.00 lac for myself during 2008. I have completed my education now and have doing fashion designing jobs of various clients. Now I want to submit my Income tax return. But till date I have not refunded any amount against the education loan. Now, I want to know how to treat the interest accrued on education loan ?. Further I also want to know there is any restriction for claiming expenses incurred against the receipts from professional service (o/s.194J) ?