Sir, for AY 2016-17, i filed original return after due date u/s 139(4) with zero refund and it was processed by IT dept. But on finding some omission of income, i filed revised return in March 2018 claiming refund of 33000. But, IT dept is saying revised return is invalid since original return filed after due date.
I know that from AY 2017-18, belated returns can also be revised u/s 67 of finance act 2016.
But, in my case, what is the way forward?

Should i apply to Commissioner of IT for condonation of delay u/s 119(2)(b)?

The DPT-3 Annual return was not filed in June 2020 and is intended to be filed in Jan 2021. The audit for FY2020 is over now, so, for Transactions (no Deposit), which year's data has to be put in 'Audited Balance sheet' because the FY2020 audit is done, so, shall i give FY2020 data?
In June 2019, the Annual DPT-3 was filed with Audited data for (March) FY2018 because the March 2019 balance sheet was not audited yet.
If I filed now, the data would be for 2020 but FY2019 would not have been filed.
In April-June 2021, the DPT-3 could have data for FY2020 again.
What am I supposed to do?

Sir,
Can initial share capital be paid in kind? suppose 10 person wants to create a company and wants to transfer land in the name of the company as share capital. is this allowable?

Hello All
I have applied for TDS Refund on cancellation of my property deal. TDS department requires no outstanding due certificate from my income tax AO for further processing. How I can get the same from him. What documents to be shown to ITO. Any format is there if it is pl share.
Pl guide.
Regards

Mr X   had purchased a flat for  23 lakhs but the Sale Deed value is only 9 Lakhs. Agreement to Sale shows the Value as 23 lakhs and the money paid through LIC Loan ( Having all the Proof of payment)  in the year 2011.

Now he wants sell the property for 37 lakhs. For Index the cost of the Flat whether 23 lakhs ( Actual cost ) or the Registered Value of Rs. 9 lakhs ( Sale deed value ) to be considered.

Please clarify .

VEERABUDRAN

If company missed recognition of preliminary expenses in 1st year, can it be recognized in subsequent years? Any special compliance to be done in this case for ROC, Income Tax? 

Thank you.

I had filed original belated return for AY 2016-17 in October 2016 u/s 139(4). Then I revised it in March 2018. CPC is not processing my revised ITR saying, " revised ITR is invalid since original return filed after due date.
But, referring Finance Act 2016, clause 67 states that belated ITR also can be revised with effect from 01 April 2017. My doubt is, this clause is effective for FY 2016-17 or AY 2016-17. Any help will be kindly appreciated.

In a company with two directors (both shareholders), 1 director wants to exit from directorship and also sell the shares. Since Pvt Ltd n3eds minimum 2 directors first Board will appoint an additional director at BM (this additional director is spouse of director who will stay back) and then director who wants to exit will resign.

Now my query is:


1. Will additional director be counted for minimum 2 directors limit in pvt ltd. Since he holds office till AGM, during AGM there'll be only one director right? Isn't this non compliance?


2. Are there any filings or declarations to be done in case directors are related (like husband and wife)?


Thank you friends.

DEAR SIR,

IS GST APPLICABLE ON LEASING COMMERCIAL BUILDING FOR THREE YEARS. ONE MY CLIENT IS LEASE HIS BUILDING FOR 5,00,000/-. BOTH OWNER AND MY CLIENT ARE HAVING GST NO. HOW TO PAY GST ON LEASE AMOUNT WHETHER GST ON ENTIRE LEASE AMOUNT MEANS 18% RS 90000/- WHEN HE RECEIVED THE AMOUNT. IT IS VALID ONCE PAID GST IS ON LEASE TERM.

PLEASE CLARIFY ME

REGARDS

DEAR SIR,

ONE OF MY CLIENT HAS LAND HE DECIDED TO DEVELOP AS A LAYOUT. HE MADE AGREEMENT BETWEEN THE DEVELOPER AND HIMSELF. NOW MY QUESTION IS GST APPLICABLE TO PLOTS? DEVELOPER HAS TO COLLECT GST FROM MY CLIENT? AND MY CLIENT SHOULD OBTAIN GST REGISTRATION OR JUST FILE INCOME TAX ON CAPITAL GAIN ON SALE OF PLOTS.

CLARIFY ME,