UNKNOWN (PROPRIETOR) (78 Points)
29 June 2012
Am from chennai started a proprietorship business on 2011 april. Now i want to file tax for the year 2011 to 2012, also need to show in loss because already there was a huge loss. Am crediting salary 25000 rupees on my wife name every month, now i want to give from 16 for her to go for housing loan, i have TAN number.
So anyone can help me to do above mention things please reply. I need to give FORM 16 to my wife is very urgent.
CONTACT ME : jayakanthlegend @ gmail.com
Thanks
Jayakanth
Deepak Goel
(Partner)
(54 Points)
Replied 29 June 2012
Dear Jayakanth,
If your proprietorship firm is subject to Tax Audit (i.e. turnover exceeds 60 Lakhs) for the FY 2011-2012, then you have to file your Income Tax Return by 30.09.2012. If it is not subject to Tax Audit, then you have to file your Tax Return by 31.07.2012. You can prepare a statement of P&L and put in all Sales, Purchase and expenses. It is immaterial if there is Profit or loss. I hope you have filed the quarterly TDS return since you have the TAN no.
You can generate her's Form-16 from the software in which you had done TDS Return processing. Form-16 can be given by the employer from his own software or Manual. Only Form 16A has been made mandatory to be downloaded from TIN-NSDL for the FY 2011-2012.
Best Rgds
Deepak Goel
UNKNOWN
(PROPRIETOR)
(78 Points)
Replied 30 June 2012
Dear deepak
Thanks for your reply.
For your information, am not deducted any tds on her salary, because last week only i applied and got the TAN number, Now i want to deduct for 2011-2012 on her salary. Possible? if yes how to do by myself or some one in the field.
Please help me
Deepak Goel
(Partner)
(54 Points)
Replied 02 July 2012
Dear Kayakanth,
Yes its possible.....But difficult to explain in the forum...I suggest you contact some regional chartered accountant for the same.
Best Rgds
Deepak Goel
CAclubindia
