I have salary income below tax and running a retail shop of Ghee. I have maintained books of accounts, & result is profit Rs.480.00. I want to know that audit of books of accounts is mandatory or not & what is due date for ITR-4

Hi,

I am working for a private firm and also working as LIC agent. Which ITR form I can use to file my IT returns. I am having below given figures from LIC agency:

Total commission: 21582/-
TDS deducted: 3520/-

1. Can I use ITR-1 and show the commission amount as "Income from other source"?
2. How much out of commission amount, I can claim as expenses?
Should I show, Gross receipts - Expeneses = Gross profits?
3. Which form to be used for IT returns?
4. If it is ITR-4 which all the sections to be filled?

Please help me file my IT returns.

Thanks in advance
Yathish N

Dear Sir,

Please take a note that, we have one commercial shop details as below,

Purchased Value - 405,000/-
Registration cost - 85,000/-
Date of Purchased - 04/04/2006

now planing to sales details as below,

Sale value(Approx) - 20,75,000/- (Full Cheque)
Date of Sales - 31/07/2013

How to save capital gain.
please suggestion and guide me.

Regards
Rajnish

My question is if any person whose Gross receipt in last preceding year is more than 10 lacs and getting service from advocate. He is liable to pay service tax under reverse charge machenism or not. If liable than he can adjust the Input Tax with Output Tax on Renting of Immovable property. Please suggest me.

A client has deducted tax u/s 194IA while purchasing a property and paid the same to the government account. Is it necessary to file any TDS return for the same?

In Form no 26 QB, major head 0020 income tax on companies or 0021 income tax other than companies is to be filled as per status of Deductee.
that means if deductee is company,than Major Head 0020 income tax on companies is to be selected even buyer/ deductor is individual.

Dear epert,
i have a client who has a bond with some company as a salaried person..which states that he has to work there for 3 years...with annual salary of 15 Lakhs...now he has left the job in between the year,..and he paid 3Lakhs as a penalty during the year..but the form 16 says his salary as 15 laks only..
now what will be his income u/h salary considered???

Dear Sir/Madam,

We want to know the procedure for Existing deemed public companies can opt for reconversion to private companies afte Companies Amendment Act 2000.

with in how many days we can make an application to ROC for reconversion to private companies after companies amendment act 2000.

whether we can go for reconversion to private now. If yes then what is the procedure.

Please do the need full ASAP.


Thanks & Regards,

If i am getting salary from a partnership firm and other consultancy income too individually from 2 proprietorship, which ITR i need to file?

The 26AS of an assessee for FY 2012 - 2013 (in month of July 2012) is reflecting TDS deduction u/s 195 by the Commissioner of Income Tax, CPC Bangalore. The status of this entry in 26AS is "P" i.e. Pending and there have been no updation in this TDS entry till date. The assessee has received IT Refund during the year, however Interest on IT Refund is not subject to deduction of TDS. There is a lot of confusion regarding this TDS entry.

Kindly advice regarding the nature of such TDS deduction and what needs to be done from assessee's end. Also what to be done to this TDS entry while filing of IT Return.

Thanks & Regards
Yash Goyal