If an invoice raised is of Rs 100000/- then cash payment for same is allowable to the extent of Rs 10000/ or Rs. 100000/

Hi Sir One of my friend purchased a Piaggio carriage Vehicle in his name and another carriage vehicle on other name. He is getting a cheque of nearly Rs.30000 per month from a company after deducting TDS How this Income should be shown apart from these he is getting a salary Rs.240000 per annum from the same company Which ITR form is applicable? Please suggest Thanks

We have purchased the below assets :-
1) old machine in cash of rs. 125000 and paid 12100 for its installation.
2) old car in cash for rs. 150000 and paid rs. 14000 for repairing in cash and 11500 for insurance in cash.

My queries are that can we capitalise the above assets and debit the expenses which incurred on above. Also can we claim depreciation on the above assets.

Please guide me.

Rakesh sharma

A Private Company recently conducted a Rights Issue. By mistake, one of the Cheque of a Vendor was deposited in Rights Issue Account of the Company instead of the Current Account of the Company. He insists that he does not want to subscribe the Shares of the Company. How can this matter be solved.

Please reply asap.

dear experts, please advise me is the new section of cash receipt above rs. 200000 are applicable on below situations :- 1) 4 bills raised to a party around 60000/- each on different days but total is 2.5 lacs and received cash against the each bill separately i.e. 60000/- around on different days. 2) issued a single invoice of rs. 2.5 lacs and received cash partly against this invoice on different days each entry is below 10000/- 3) cash paid rs. 2.5 lacs in a single entry against 10 different bills of same party. please advise rakesh sharma

Please help me sir
i was upload Form INC 2 for reservation of company name but i would not pay fees within stipulated time.now i want to upload again that form but they say form already uploaded if i want cancel SRN of that form but there is no such option for that SRN then how i cancel those SRN

one of my client has been late deposited TDS beyond the due date prescribed u/s 139(1), hence i disallowed TDS u/s 43B and also disallowance has been made by us u/s 40(a)(ia) @ 30% of expenses. and i file Tax audit report accordingly but my client in his ITR does not take such disallowance and pay the required tax without considering any amount of disallowance..and upload his ITR.
my question is that, in such case can department considered his ITR as defective u/s 139(9)?? as these return is filled without considering disallowance which was expressly disallowed by tax auditor in his 3CA-3CD. and hence his self assessment tax is remain under paid.

Hi sir,May I know whether the export of services are taxable, as per rule 6A of st rules all the conditions are satisfied, one query whether rule 3 of pop rules apply for information technology software or not.2. Another query is regarding the filing of return, which notification can be taken for when filing ST3

I have filed the return for the A.y 11-12 manually and had paid the respective income tax amount but few days back I have received a notice from income tax dept showing demand of Rs4990.I was shocked to see that notice. and what's worst I have lost the copy of acknowledgement of manual itr of the above mentioned year.please help

Dear Sir,
An Assesse has made monetary gift by cash of Rs. 8.00 Lacs to his son. Whether gift by cash is eligible under Income Tax Act.

Thanks,
Abhishek.