For A.Y 13-14 I had e-filed my return, I was supposed to get refund but the bank account whose details I had given in my return is closed now. I have received a cheque and an Income tax Refund advice on 21.06.2014 from Income Tax Department containing the refund amount. The cheque is drawn in favour of my old account which is closed. I want to change the bank account details now.. Kindly advice me how can I change my bank account details so that I can get the refund.

CAN AN ASSESSEE SALE HIS IEC ?

I need a clarification regarding booking of purchase under high sea sale basis.
1.how does purchase are booked under high sea sale?
2.When are risk & reward are said to be transferred under High sea sales?
3.what about treatment in case goods are not received as on closing date?
4.Treatment of expense of custom duty paid in said case (i.e., goods not received on closing date) ?
5.Reference of any accounting standard & guidance notes if any.

respected experts,
please can u guide about the further career opportunities that i can avail while pursuing ca ipcc.
i have appeared for ipcc group 1 in may 2014 and have appeared for b.com exam in 2014 from mumbai university.
please can u guide me that what other course i can pursue along with ca ipcc.....

please do reply....

with hearty regards...

Dear Sir,

I am going through the purchase of a small residential apartment & has secured the sanction of PSU Bank Home Loan to part finance the purchase. I have paid all the monies from my side and only the home loan amount is pending to be paid to the builder. This will be paid/disbursed by the bank only after the registration.

The sale consideration amount is Rs. 66 L. But the State Govt has fixed a guidance value for which alone the registration can be done. In my case the registration value comes to about Rs. 74 L. The sale deed will also show only the consideration value as Rs. 66 L. Only the stamp duty and registration fee would be based on Rs. 74 L. Builder would be in receipt of only Rs. 66 L.

The builder is insisting now that the difference of Rs. 8 L would be considered as excess income for him / his partnership firm. He is also insisting that I pay the income tax on this difference of Rs. 8 L for him.

Since he is in receipt of only Rs. 66 L, why would I be liable to pay his income tax on the difference of Rs. 8 L.

I am extremely distressed by this unreasonable demand from the builder. As it is I am finding difficult to pay the stamp duty & registration fee.

Kindly help me clarify this and enable/empower me to counter my builder's unjustified claim. Shall be very grateful for your kind advise and inputs.

Thanks & Best Regards

S.R.Prasad
+91-9901375222
Bangalore.

what is the remedy steps to correct the wrongly tds deducted under section -194 j .
it should be 194 c?

pl suggest the steps

If an assessee has only disabilty pension, which itr should he use to file return if he wants to do the same? If so, how is exemption claimed?

whether TDS needs to be deducted by companies from interest given/paid for unsecured loans taken from related parties...

In e-form INC 21, particulars of stamp duty payment has to be filled in clause 5. In case of private limited company, which amount has to be filled up the said column,ie., stamp duty paid at the time of incorporation or zero should be filled in.

Dear Learned Members,
Mr. A is a relative of a Director of a Private Company, PQR Pvt Ltd. Mr. A has given a loan of Rs. 1 Crore to the Company at different dates but all before 1st April, 2014. As per the Companies Act, 2013 all loans given by a Shareholder or a relative of a director to a Private Limited Company before 1st April, 2014 would now be treated as deposits and has to be repaid back within 1 year from the date of the commencement of the act (i.e., 1st April, 2014) or the due date of the loan whichever is earlier.

Mr. A is now appointed as a director of PQR Pvt Ltd (post 01.04.2014) and as a director gives a loan to the Company of Rs. 2 Crore by which the Company repay his amount of Rs. 1 croreback to him for the loans taken previously from him (now being treated as deposits).

Request you to guide me whether such arrangement is possible.

Thanks & Regards,
K C Palai