One of my corporate client has computed MAT Liability under section 115JB of I.T. relevent to Astt.Year 2013-14 as Tax Liability as per Income tax Act comes to NIL due brought forward Business loss & Unabsorbed Deprecation of earlier years so MAT Provision is applicable to company.

For Example MAT Liability is Rs.80000/- under Section 115JB of I.T.Act. relevant to Asstt.Year 2013-14. TDS Receivable on Interest received/Job Charges for the same Asst year Rs.93000/- Now query is whichever option is better from tax point of view as under:-
i) Either No MAT Laibility is to be paid & adjusted against TDS Rceivable and balance amount to be claimed as refund in I.T. Return. or

ii) MAT Liability of Rs.80000/- is to be paid in the current Asstt.year & claimed Refund of entire Rs.93000/-as TDS Receivable & this MAT Tax so Paid can be set off as credit in subsequent year as and when the tax liability arises as per I.T. Act.

Please reply at the earliest.

Regards

My father purchased a house in 2009-10 , deposited some amount of cash in saving account, and purchase some shares but he did not pay any tax at all and he also did not file the income tax teturn.. He sold these shares and amount was spent by him on himself. He transferred this house to me through gift deed last month and he died. Now I have received a computer generated letter from income tax department addressed to my father and this letter talks about these transactions based on annual information return (AIR). What should I do.

Dear Sir,

I have filled returns for the AY 2012-2013, but my signed document is not received by CPC, so when I contacted CPC @ Bangalore in last week of may 2013 I got to know this info.
So they have asked me to resend the signed copy and I sent it on May 26 2013, but now the status in my login says as ITR V rejected.

Can you please help me here.

Thanks
Srinu

WHO IS LIABLE TO PAY SERVICE TAX IN CASE GTA SERVICE IS PROVIDED BY INDIVIDUAL TO AN INDIVIDUAL.

what is the date of acquisition in case of converted shares sold in relevance to The I.T.Act?

Dear Friends,

I wanted to get my client registered under service tax Category - GTA. When I went to collect My registration certificate I was denied on grounds that Registration Certificate can not be granted for Goods Transport Agency as the liability to pay tax is on reciever. Please tell me what to do. My client is providing two services GTA AND BUSINESS AUXILLARY. Now how can I get registration for business auxillary services ?

Hi All,

Can anyone tell me how i can get issue the Form C from sales tax department ,Haryana first time .

Its Urgent.

Thanks & Regards
Priyanka

Whether service tax exemption is available for coir products considering the same as agricultural produce which is covered by negative list. Whether coir products like coir Mats are eligible for exemption under the preview of the act as part of negative list.

I HAVE SUBMITTED ST1 AT PARTICULAR USER ID THERE WAS A MISTAKE IN ST1 SO INSTEAD OF MODIFYING I SURRENDERED APPLICATION AND AGAIN SUBMITTED ST1 WITH NEW USER ID NOW QUESTION WILL I GET MY ST2

OR NOT THEN WHAT ARE ITS REMIDIES ?

What is the difference between stategic alliance and joint venture?

Both is used to share expertise, technolody, resources.

Then what?