While doing self assessment tax submission, by mistake challan 286 is selected instead of challan 280. Please help in solving the issue.What all I have to submit along with the letter to tax officer.Please help to write the letter to tax officer.
Dear sir,
If branch of ABC LIMITED( NOT LISTED), receive professional service of Rs. 24000 for preparing its Vat return
from A person Mr. X (NEITHER AN ADVOCATE NOR REGISTERED IN SERVICE TAX). then Company is liable
to pay reverse service tax on Rs. 24000.00 as professional fee.
please guide.
AN ASSESSEE DERIVES INCOME FROM SHARE TRADING (EXCLUDING SPECULATION). WILL THE INCOME BE TREATED AS CAPITAL GAIN OR BUSINESS INCOME? HE ALSO HAS OTHER SOURCES OF INCOME FROM BANK INTERESTS.
Sir, one of my friend received a notice for non filing of income tax return for AY 2015-16 & Also the notice demanded explanation for cash deposit of more than rs. 200000/- for same assessment year. Actually my friends father died during FY 2014-15 & before which he made FDR of certain amount at co-operative bank. after death of father friend encashed the fdr from co operative bank.. & the bank provided the amount to him in cash. and he deposited the cash into his saving bank account in the same financial year 2014-15. As my friend was dependent on his father... he does not have any income.... i want to know what reason he will provide for non filing of Income tax return ?? Also what will be nature of income... he got due to fdr encashment... i mean will it be treated as gift...or something else.. as the department asking for source of cash deposit???
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Dear Tax Experts
I have a doubt please clarify me
If we reached turnover more than 10 Lakh we have to register Service Tax. So Incase first year reach 10 lakh we have to pay service tax to government, second year not reach 10 lakh, In this case what to do?
I am an accountant with a partnership firm.
My organisation firm pays rent and service tax for a piece of land.
on other hand we provide the land to the customer for sports on hour basis and charge it as a rent and also collect service tax from them and deposit with Govt Treasury.
My query is whether could I get set-off of service tax paid by on rent.
Thanks
Babukhan
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Correction of challan code