Rakesh Sharma

Respected Experts,

We are private limited company. Can we pay Rs. 22,500/- against expenses of repairing & maint. of machinery in cash.

If we do the above. Which amount will be disallowed & except this any penalty will arise.

Kindly advise,

Regards,

Rakesh Kumar


Rakesh Sharma

Respected Experts,

We are Private Limited Company & regular file 24Q. Should we show the below salary details in 4th Qtr. as in previous 3 qtrs. we have not shown any details :-

1) In our concern 5-6 Employees take Gross salary 3.5 Lacs to 4.00 Lacs
2) They all have saving between 1.25 lac to 1.5 lac & their Net salary are below taxable limit.
3) No TDS has been deducted.
4) We have collected necessary saving proofs as well from the above employees.

Sir, should we show the above salary details in 24Q? If yes, should we show quarterly or in last quarter only.

If we don't need to show, what kind of record we have maintain of above employee i.e. any form etc.

Its my humble request, kindly guide me & resolve my queries as I have post this query earlier many times.

Regards,

Rakesh Sharma


sumitra godi
15 March 2017 at 17:39

Defective return

I have agricultural income and income u/s 44AD.So i filed return through ITR 4.But now i got a defective return asking to fill balance sheet and profit n loss.What should i do??



Anonymous
15 March 2017 at 17:13

Service tax for contract employment

Hi, I am an employee of a UK company based in india. The company does not have a legal entity in india, so I file my tax return as a self employed. In my offer letter they have mentioned me as employee for the company. Every month receive the salary in my bank and I do not have to raise invoice every month. I am not registered for any service tax. Will I have to pay the service tax. My job profile is business development in India.


Srilu
15 March 2017 at 16:27

Query regarding allotment of shares

Respected Sir,

In Case of allotment of Shares by way of conversion of loan into equity whether it comes under Consideration for cash or other than cash?
In case of consideration other than cash:
A Director( also a share holder) gave unsecured loan of Rs. 50 Lakhs.
The company went for rights issue and he wants company to adjust his loan amount agaiinst the proceeds of rights issue and further he gave balance amount by way of electronic fund transfer.
Please tell me whether the above mentioned case willl come under consideration of cash or other than cash.



Anonymous
15 March 2017 at 16:04

Head of income

A proprietor already having a stationery business received in FY 15-16 a commission income as a side job for the first time as a advertising agent of less than 60,000 on which TDS is also deducted by media channel to whom business is provided.
Is it a business income or income from other sources for proprietor and also separate income and expenditure account is required to prepared?


Pooja
15 March 2017 at 14:02

Telephone Reimbursement

telephone reimbursement is taxable or not -taxable in hand of employee. whether employee submit the bill or not.


Vishal
15 March 2017 at 13:18

SBC AND KKC

Cenvat credit(input) of any declared service taken can be adjusted with service tax to be payable..  Previously SBC cannot be adjusted with Cenvat taken.. Now Still SBC cannot adjusted but now, KKC can be adjusted..  (ie., ST+KKC=14.5%).. Please provide me the supporting where I can find this provision..


virender

GST registration done. now I want to register for composition scheme . what is the last date for this?



Anonymous
15 March 2017 at 11:25

Signing balance sheet

Dear sir,
MR. X is full time CA in XYZ traders (partnership firm) however as per income tax regulation since mr. x is full time employee of xyz traders hence Mr. X cannot sign the balance sheet of XYZ traders... pls clarify in which section it is written that A full time CA in job cannot sign the balance sheet of their firm?

Thanks In Advance
Subhash Jain





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