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education trust. fee received lessthan 1 crore . can i declared gross reciept in whic head of income under IT act. running education institue whether it is business Or service or what criteria in IT act

ID: 667 | Total Views: 24 | Status: 0 Reply | Posted By: M.N.MADHUSUDANA | Dt: 2016-08-19


how to show gift income in itr 2a

Sir/madam I have sum gift income more than 50000 so how can I showing this amount in itr-2a? I mean in itr2a form not mentioned anywhere gift income options pls help me.

ID: 666 | Total Views: 25 | Status: 0 Reply | Posted By: SUBRATA BERA | Dt: 2016-08-05


I sold a residential property and wanted to purchase three flats for three children and I will be one partener with my son and second flat with my daughter and third flat with my wife amd another son and we will pay our share as we are retired person and

I sold a  residential property and wanted to purchase three flats for three children and I will be one partener with my son and second flat with my daughter and third flat with my wife amd another son and we will pay our share as we are retired person and later on i wanted to stay with them and I can not afford to purchase three flats but I will contribute my portion as I have disposed off residential property which was purchased by me when I was in service I want to share  entire amount with my three childrento avoid injustice with any child Kindly advice me properly I have deposted money in nationalised bank  

ID: 665 | Total Views: 77 | Status: 2 Replies | Posted By: ISHWARA CHANDRA SHUKLA | Dt: 2016-07-15


1) Replied by: S.SRINIVASAN, 2016-07-15 ID: 1150

2) Replied by: S.SRINIVASAN, 2016-07-15 ID: 1151

TDS On Interest u/s 194A

Dear Sir,

Whether TDS is Required to be Deducted while Interest is Paid for late Payment to Supplier/Creditor u/s  194A ??

ID: 664 | Total Views: 58 | Status: 0 Reply | Posted By: PARVEEN BANSAL | Dt: 2016-07-15


Works contract

One firm is engaged in trading of goods ie Sales Tax is applicable and the firm takes the services for the construction of building. In that case the contractor charges service tax @ 15% in respect of their obligation . What will be the status of the other 50% liability and if we have to pay service tax , number should be applied under  works contract/ other  services ???  

ID: 663 | Total Views: 71 | Status: 1 Reply | Posted By: ASHISH | Dt: 2016-07-15


1) Replied by: PARVEEN BANSAL, 2016-07-15 ID: 1149

TDS Return Filing

Dear Dir 

 

Can I file the TDS return of the firm myself. Recently We use the file the return through our CA. 

 

IF yes then what is the procedure. 

 

Thanks 

ID: 662 | Total Views: 95 | Status: 2 Replies | Posted By: VISHAVJEET | Dt: 2016-07-06


1) Replied by: MOHIT JAIN, 2016-07-06 ID: 1146

2) Replied by: VISHAVJEET , 2016-07-06 ID: 1147

Remuneration and interest to partners sc44AD

Consequent to amendments made in sec 44AD w.e.f. AY 2017-18 , whether remuneration and interest paid to partners would be allowed as deduction u/s 44AD after arrivng persumptive taxation at 8%/50% as the case may be.

ID: 661 | Total Views: 72 | Status: 1 Reply | Posted By: R RANGARAJAN | Dt: 2016-07-06


1) Replied by: MOHIT JAIN, 2016-07-06 ID: 1145

income from tv lucky draw

i won the prize in lucky draw. 30 % of prize mrp has been submitted by organizer in income tax department against my pan which can also be seen in 26As .now when i m filling my itr1 (salary+fd income) then in schedule tds2 it is automatically claimed by me. but as per law tds on this income cant be refunded, but itr generates refund .Is prize mrp +fd interest treated as income from other source or is there another section in which i show the prize mrp income. plz solve my doubt.

 

 

 

 

ID: 660 | Total Views: 77 | Status: 1 Reply | Posted By: MAYANK GUPTA | Dt: 2016-06-29


1) Replied by: MOHIT JAIN, 2016-06-29 ID: 1142

NRI Proprietorship and TDS

Hello,

My resident status is Non-Resident. I want to setup a proprietorship in India, also want to open a Current account. I have no intention to repatriate the money earned here

I will have a contract with an Indian company and I will be billing to Indian company for the services I will be providing outside India

What I wanted to know is how much TDS will be withheld when my client releases the payment to me? (Whether it is 10% or 40%?) and the basis (which section) for TDS 

Yous answer will be much appreciated, Thank you

 

ID: 659 | Total Views: 110 | Status: 5 Replies | Posted By: MADIVALAYYA | Dt: 2016-06-28


1) Replied by: MOHIT JAIN, 2016-06-28 ID: 1138

2) Replied by: S.SRINIVASAN, 2016-06-28 ID: 1139

3) Replied by: MADIVALAYYA, 2016-06-28 ID: 1140

4) Replied by: S.SRINIVASAN, 2016-06-28 ID: 1141

5) Replied by: MOHIT JAIN, 2016-06-29 ID: 1143

NRI Proprietorship and TDS

Hello,

My resident status is Non-Resident. I want to setup a proprietorship in India, also want to open a Current account. I have no intention to repatriate the money earned here

I will have a contract with an Indian company and I will be billing to Indian company for the services I will be providing outside India

What I wanted to know is how much TDS will be withheld when my client releases the payment to me? (Whether it is 10% or 40%?) and the basis (which section) for TDS 

Yous answer will be much appreciated, Thank you

 

ID: 658 | Total Views: 57 | Status: 0 Reply | Posted By: MADIVALAYYA | Dt: 2016-06-28


NRI Proprietorship and TDS

Hello,

My resident status is Non-Resident. I want to setup a proprietorship in India, also want to open a Current account. I have no intention to repatriate the money earned here

I will have a contract with an Indian company and I will be billing to Indian company for the services I will be providing outside India

What I wanted to know is how much TDS will be withheld when my client releases the payment to me? (Whether it is 10% or 40%?) and the basis (which section) for TDS 

Yous answer will be much appreciated, Thank you

 

ID: 657 | Total Views: 61 | Status: 0 Reply | Posted By: MADIVALAYYA | Dt: 2016-06-28


NRI Proprietorship and TDS

Hello,

My resident status is Non-Resident. I want to setup a proprietorship in India, also want to open a Current account. I have no intention to repatriate the money earned here

I will have a contract with an Indian company and I will be billing to Indian company for the services I will be providing outside India

What I wanted to know is how much TDS will be withheld when my client releases the payment to me? (Whether it is 10% or 40%?) and the basis for TDS deduction

Yous answer will be much appreciated, Thank you

 

ID: 656 | Total Views: 51 | Status: 0 Reply | Posted By: MADIVALAYYA | Dt: 2016-06-28


Refund of Excise Duty paid in case of Export under Form H

Dear Sir,
 
Good morning......
 
A merchant-exporter of Delhi (not regostered under Central Excise Act, 1944 but registered Delhi VAT and CST) has purchsed goods from manufacturer of Mumbai (registered under Central Excise Act, 1944) for export under Form H.
 
The merchant-exporter has paid excise duty on the purchase of goods for export but exempted from payment of CST.
 
Now, the merchant-exporter wants to calim refund of excise duty paid.
 
My qureries are:
 
1. Can the merchant-exporter claim refund of excise duty paid?
2. If yes, where to file application and with which authotrity?
ID: 655 | Total Views: 71 | Status: 1 Reply | Posted By: AMAR KUMAR | Dt: 2016-06-27


1) Replied by: MOHIT JAIN, 2016-06-27 ID: 1137

wrong amount deposited as tds against form 26qb

sir

AT THE TIME OF FILING THE FORM 26QB BY MISTAKE I HAVE DEPOSIT THE DOUBLE AMOUNT OF RS 22576 INSTEAD OF RS 11288/-, IS THEIR IS ANY WAY TO GET MY DEPOSIT AMOUNT BACK  OR IT WILL AUTOMATICALLY WILL BE ADJUSTED WHEN I MAKE PAYMENT OF NEXT INSTALLMENT PLEASE CLARIF..

 

ID: 654 | Total Views: 87 | Status: 2 Replies | Posted By: SUMEET AGARWAL | Dt: 2016-06-24


1) Replied by: S.SRINIVASAN, 2016-06-24 ID: 1135

2) Replied by: MOHIT JAIN, 2016-06-24 ID: 1136

TDS on salary for services rendered abroad

An Indian company has obtained an overseas contract for operation and maintenance of a manufacturing plant abroad . They have appointed employees abroad who are non resident as far as india is concerned. The company remits salary from India to non resident employees abroad in foreign currency. Whether salary remitted is liable for TDS .

ID: 653 | Total Views: 170 | Status: 2 Replies | Posted By: R RANGARAJAN | Dt: 2016-06-17


1) Replied by: S.SRINIVASAN, 2016-06-18 ID: 1127

2) Replied by: MOHIT JAIN, 2016-06-19 ID: 1128

Regarding new TCS provisions

I have a query related to new TCS provisions in respect of Sale of Motor Car exceeding Rs 10 Lacs in cash or any other mode. What if we sell car partly in cash and partly through cheque like we say we received Rs 2 Lac or more in cash and rest through cheque but the total consideration is below 10 lacs .Is it mandatory to deduct TCS 1% on the cash consideration.

ID: 652 | Total Views: 134 | Status: 6 Replies | Posted By: ASHISH AGGARWAL | Dt: 2016-06-17


1) Replied by: MOHIT JAIN, 2016-06-19 ID: 1129

2) Replied by: ASHISH AGGARWAL, 2016-06-19 ID: 1132

3) Replied by: MOHIT JAIN, 2016-06-20 ID: 1133

4) Replied by: ASHISH AGGARWAL, 2016-06-20 ID: 1134

5) Replied by: MOHIT JAIN, 2016-06-29 ID: 1144

6) Replied by: JAGMOHAN SINGH, 2016-08-20 ID: 1153

Whether Krushi kalyan Cess will be applicable for invoices & payment made after 01.06.2016 but services provided before 01.06.2016? what is d relevant provision?

Whether Krushi kalyan Cess will be applicable for invoices & payment made after 01.06.2016 but services provided before 01.06.2016? what is d relevant provision?

ID: 651 | Total Views: 80 | Status: 0 Reply | Posted By: JYOTIRANJAN MOHANTY | Dt: 2016-06-06


Form 26qb revision

I have filled Form 26QB and also deposited TDS for payment made to builder against the property. However, by mistake, I filled wrong details ( Minor mistake) of the property that is booked. Please let me know how to rectify the same. 

Regards

Ravi Lodha

 

ID: 650 | Total Views: 107 | Status: 1 Reply | Posted By: RAVI LODHA | Dt: 2016-06-02


1) Replied by: MOHIT JAIN, 2016-06-19 ID: 1130

Capital Gain U/s 54

Thanks in advance

My Query is whether Exemption Under Sec 54 can be claimed under following circumstances

1 The Property was constructed before Date of Transfer 

2  The Construction was done on a Plot which was Purchased much Before Date of Sale 

    That is three years before Date of sale . Whether Investment in Plot and Construction done 

    before  date of transfer  would qualify for Deduction Under Section 54 

 

ID: 649 | Total Views: 117 | Status: 1 Reply | Posted By: PANKAJ JAIN | Dt: 2016-05-30


1) Replied by: VIKRAM AGGARWAL, 2016-06-06 ID: 1122

Income Tax

Hello sir,

        one of my friend want to file his ITR of AY 2014-15. Is there any provision for filling 2 years back ITR of salary Income.

ID: 648 | Total Views: 140 | Status: 2 Replies | Posted By: SANDEEP | Dt: 2016-05-28


1) Replied by: SURINDER CHUGH, 2016-06-06 ID: 1121

2) Replied by: MOHIT JAIN, 2016-06-19 ID: 1131