Sir/Madam,

My client's father sold an ancestral property
in which my client has undivided equal share and received rs.30 lakhs as his share.


Now tell me what is the treatment of above issue in income tax?

Thanking you.

Is there any provision for the adjustment of excess interest paid on tds.
can we adjust the excess interest paid in the next month of the same quarter.
I had paid 7000/- interest on late payment of TDS instead of 5000/-/ for april month, can i adjust the excess interest of 2000/- in next may month whose interest liability is 6000/-.
if yes can you please help me with the provisions of it.

i am owner of construction company i want to sale my fixed assets tower crane value is 1980198+ cst 1% =19802+ cartage =20000 total value is2020000.00 i want to sales what is implement of sales tax

Hi, if principal is out of India, then who else can sign on his behalf on final examinationn form..?? Urgent please help!!

One of my friend is on articleship period since Feb,2013.She is now about to take to transfer since the work environment is not good.Now the problem is Her Principal is not giving her transfer despite of so many arguements she did with him.He even threatened her that she cannot do anything if she complains to the Institute.She is trapped altogether.Now what she should do??Can she cancel the agreement and start with a fresh articleship.
Thanks.
Suyash Tripathi.

Dear sir,

If i paid rs. 17lakh to GEB (gujarat electrical corporation) for expand power supply limit for expantion of business.

if this amt capitalized than iin which heading and calculate depreciation at which rate?

Hi,

I had changed jobs from one company to another company in May 2012 but didn't get around to transferring the PF balance till now. However, at the time of leaving that company I had given in writing to them that I would be transferring the PF balance to my new company and do not wish to withdraw the account. Few weeks back, while going through the Form 26AS for filling my ITR, I noticed that there was a tax credit done by the PF Trust of my previous company under Section 194A. The tax credit was of some Rs. 2000 on an amount of some Rs. 20000. I had immediately enquired with the company about this TDS deduction but since there's not much time left for filing of the IT return, I filed the return without declaring the Rs. 2000 under TDS nor the Rs.20000 amount under income.

After few days, I got a response from the company saying this: "Tax u/s 194A which is applicable to all those, whose interest earned on Provident Fund from the Date of Leaving (DOL) till Date of Settlement / Transfer, exceeds INR 5,000/- in a Financial Year. In your case the interest earned on your PF after your DOL was greater than INR 5,000 and hence tax @ 10% was deducted on this amount.".

Now my queries are:

1) Is the company's interpretation correct?
2) If the interpretation is correct, I guess I should file a revised ITR. In the revised ITR, should I declare the Rs. 20000 (for which the TDS of Rs.2000 was deducted) under the 'Income from other sources'?
3) If the interpretation is wrong, what should I do to recover the TDS?

Would be grateful for any help.

Regards

17-8-2013



Almost all companies hold their AGM on 30 Sept. each year. The Accounts & Auditor’s Report is signed around 1st September & sufficient notice is given for holding AGM.

Since the last date of filing I.T. Return is also 30 Sept., can we file the return anytime after the Directors approve the accounts or wait for shareholders to pass the accounts?

Practically speaking, it will be difficult for CAs to file all returns on 30 September, if we have to wait for shareholders’ approval.

Please enlighten.

Thanks & regards

R.V. Marathe
Chartered Accountant

IF AN EMPLOYEE GETS A LUMPSUM AMOUNT FROM RECOGNISED PROVIDENT FUND BEFORE COMPLETION OF 5 YEARS OF SERVICE THEN HOW THE LUMPSUM AMOUNT SHOULD BE DEALT WITH?

Dear experts

My Company (Ltd. Company) have to pay Rs 200000/- to its legal advisors whether my company have to take service tax registration as my company have to pay service tax as per reverse charge mechanism.

Advocate is a partnership firm.

Please note that my company doesn't provide any other service which is chargeable to tax. So till date i dont have any service tax registration number.

I further estimate that in future also (after this payment) my company does not provide any service which is under the purview of Service Tax.

Please reply on a urgent basis.