pkpworld..
04 November 2009 at 23:18
A person filed a return of income u/s 139(1) for AY 2008-09 on 30/07/2008. After one month he had discover that he had committed a mistake in respect of income particulars then he had filed a revised income u/s 139(5), modifing the income, on 31/08/2008. Then he again discovered that he had committed a mistake in qouting the bank account number. Then he had filed 2nd revised return u/s 139(5) on 30/9/2008 quoting correct bank account. Like this he had filed twelve revised returns within 31/03/2009. The last revised return was filed on 31/03/2009. Till date the Income tax department had not processed all returns filed by the assessee. The assessee had to get a refund of Rs.12000/-.
My query is that whether all the returns filed by the assessee are valid or not?
Whether the assessee was penalised for filing 13 returns (one original plus twelve revised returns)for one assessment year?
What will be the consequences?
Sanjay Sharma
04 November 2009 at 11:27
Dear Sir/Madam,
I am a 38 years B.com graduate from a reputed University in 1991, working in a MNC as Assistant Manager- Indirect Taxation and in this field my experience is almost 15 years and having the strong desire to become an independent Indirect Tax Consultant/ Advocate.
Right from the beginning I am in this field and have in-depth knowledge of Excise, Service Tax, VAT, Import Export, EOU and SEZ also.
Recently, I have completed my LL.B from the same University.
I want to know, what is the way for me to become an Indirect Tax Consultant; I need your valuable suggestions on the matter.
Regards
Sanjay Sharma
pkpworld..
04 November 2009 at 08:21
Every perosn whose income is exceeding income which is not chargeable to tax in any assessment year is required to fild a return of income.
Can a person having income below taxable inocme (i.e.120,000 for AY 2009-10)file a return in income tax office?
The receiving officer had refused to accept return of income having below taxable income. One person having taxable inocme of Rs.120,000 p.a. for AY 2009-10 wanted to file his retrun income for the purpose of taking a loan from a bank. The bank had asked to assessee for acknowledgement of filing of return. Without such document bank will not sanction loan.
The assessee had approched to the income tax officer but he had expained the section 139(1) and said he will not receive the return because of below taxable income.
The bank also refused to give loan whihout evidence of filing of return.
What to do in this circumsatances?
Anonymous
03 November 2009 at 13:20
We intend to start retailing of frozen foods & will be selling in Delhi / Gurgaon / Ghaziabad to be procured from Andhra Pradesh. Expected turnover is Rs.5 Lacs for the first year. The query is:-
1. Do we need to go for any kind of registration like VAT / CST / Shops & Establishment etc.?
2. Initially can the place of business be our residence?
3. We will not be engaging any manpower!
4. In case registration is not required, what kind of documents do we carry while procuring, delivering and transportation etc.
pkpworld..
03 November 2009 at 06:39
I have come through a case law from experty forum on the subject 234A. From that I come to know about case lawCIT Vs.Dr.Pranoy Roy (2009) 309 ITR 231 (SC).
How can I get this case law of income tax.
Anonymous
02 November 2009 at 14:10
DEAR SIR,
CAN SOME ONE GIVE THE FILES OF WORD FORMATE, IN WHICH BASICLY I SEE, HOW TO FILE APPEAL. WHAT WE SHOULD DRAFT AS LEGAL FORMATING. FOR VAT UP .
MAHINDERBHARTI@YAHOO.CO.IN
Anonymous
02 November 2009 at 11:47
Dear Experts,
What is the meaning and scope of "industrial purpose" under the Wealth Tax ?
pls help, its urgent.
Anonymous
02 November 2009 at 11:26
Your opinion is required on the following issues:-
1. Test Series offered online - (Purchases made online directly from X Ltd.either through credit card or sending dd/chq to X Ltd) - We consider the entire thing as service as the test taking software "ASPIRE" is available for free download alternatively students can instead of using this software directly take test online on the website- we are charging for service provided for assessing them and providing them with results and analytics - We clearly define this as service and charge service tax accordingly - free cd of Aspire if sent again shows that we are not charging for any product but its a platform for providing services and has "zero" license cost.
2. CD based courses ( both online series and offline packaged series) sold through vendors - clearly can be defined as a product in which services are packaged and we will charge accordingly the entire thing as a product and pay VAT @ 12%
3. Offline packaged series sold though X Ltd. website or directly by X Ltd.- To be treated in a similar way as 2 above i.e as packaged product and VAT to be charged @12%
Pls give your opinion if above is correct , and if yes what documentation should be prepared for reflecting and clarifying above policy and accounting process.
SANDEEP BAWEJA
29 October 2009 at 22:52
If an asessee pays self-assessment tax on 29.10.09 but file return on 01.11.09 whether he is liable to pay tax under 234A for late filing of return fo rth emonth of november
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
Refuse to pay income tax demanded u/s 143(1)
One person filed a return for AY 2007-08 on 31/03/2008. He received a intimation u/s 143(1) for payment of demand of Rs.4522/- on 02/11/2009. The Intimation u/s 143(1) was issued on 25/09/2009 by income tax officer. The person was written a compliance with reference this intimation stating following:
U/s 143(1), the time limit of issue of intimation for dedmand is one year from end of the financial year in which the return was filed. In other word No intimation shall be sent after the expity of one year from the end of the FY in which the return is made. In the instance case the ITO can not demand any tax after 31/03/2009.
In this situation what is to do?