is it true that we are not liable to pay penalty u/s 271b in audit under 44ab if we file 3cd and 3cb report in time and file income tax return after due date?

Dear Experts,

Kindly reply to my following (basic) query:

What should be filled for ACA/FCA in the field COP, while filling Form DIR-12?

Please reply…… with relevant supporting, if any available.

Thanks a lot to all in advance for doing the needful.

I am able to understand that the Form DIR-12 does not have a check, in case, the ACA/FCA Membership Number is repeated in the field COP.

When do we require the form 3CD?

HOW CAN I KNOW WHETHER BID RATE OR ASK RATE WILL APPLY FOR A PARTICULAR TRANSACTION..EXAMPLE...IF MR. SACHIN HAS RUPEE WITH HIM AND HE WANTS TO PURCHASE DOLLAR FROM BANK ...THEN BANK BUYING RATE OR ASK RATE WILL APPLY ...PLZ TELL...AND PLZ TELL THE CRUX OF THE ANSWER...THAT HOW TO IDENTIFY WHICH RATE WILL APPLY...

my question is that a private company going to be incorporated and have 3 directors.
all the directors wants to engage themself in a job in another compny-can they do so
ANSWER WITH REASON IN ACCORDANCE WITH NEW COMPANIES ACT 2013

best reference books for costing and FM

Can an Income Tax Return be revised with the Digital Signature, If the original ITR filed without Digital Signature.

Pls Help...urgently...

Thanks aton..

sir, I was working in two companies during FY10-11. My ITR was wrongly filed to include only one Form 16 details and it was my ovsersight not to have cross checked even though a represnetative filed. However TDS was deducted for the other company salary as well. AO raised a notice asking for clarifications and we found that due to an oversight the second salary was not included in the ITR even though TDS was deducted and reflected in 26AS. However, subsequent to the notice from AO, the differential of 1.5lakhs was paid with interest. Now a penalty has been raised for the entire tax amount from the second company under grounds of concealment. Not sure if concealment is the right reason as TDS has already been paid for. There was no evasion of tax and hence i am perplexed. I agree that it was my mistake to not include the one of the form 16s in the ITR but tax was not evaded. Want some guidance and way forward to appeal and address this.

Dear all,

If the Private company incurring lossess,
can it not provide the remuneration to Directors. Whether it has to take permission from Govt to do so?

Kindly clarify the same

QUERY regarding Capital Gain Tax on transfer of an Apartment :
We booked an Apartment for Rs.35 lacs in 3 names A,B &C in Sept.’2005. Initially we paid booking amount of Rs. 5 lacs . Then we took a bank home loan and paid Rs.20 lacs to the builder in Sept.’2009.
On completion of the apartment, in June’14 , we paid balance Rs.10 lacs to the builder . In the complete transaction, we paid a total of Rs.35 lacs to the builder plus interest of Rs.8 lacs to the bank.
But we did not take possession instead we sold the apartment to another customer for Rs.48 lacs. The customer paid transfer fees directly to the builder and got the apartment transferred in his name.
In the above case, is there any Capital Gain liability on all 3 applicants as we have not got the registry done ? And if yes, then is it long term or short term and what is the amount of tax liability on us. Please advise .
Thanks & Regards.