Harddik A Thakkar
08 December 2016 at 11:16
Dear Sir/ Madam In the balance sheet of an individual, loan has shown, but the repayment was made by unaccounted money. How to deal with this loan in balance sheet. Person wants to remove it from balance sheet permanently. What accounting and taxation matters taken into account. Can it be shown as Defaulter? What compliance and consequences should be taken into account. Thanks a lot
LOOK4U
06 December 2016 at 23:55
MY CLIENT ....HAS NOT PAID MVAT TAC FOR FY-2013-14 & 2014-15.....
BUT PAID MVAT TAXES IN TIME & FILED MVAT RTM............
CLIENT HAS RECD..........THEY DECLARED ...DEFAULTERS,,,,,,
WHAT WILL BE CONSEQUENCED.....& SOLUTION....
LOOK4U@REDIFFMAIL.COM
rajesh singal
05 December 2016 at 13:22
Dear Experts,
I bought a property in 2003 on cash payment of Rs xxxxx though sale deed. This sum was payed through personal savings accrued over time( 2-3 years) from withdrawls from bank which were kept at home. Now Income Tax has asked to prove source of fund of this property. My IT return for assessment year 2004-05 too reflects that i had an income from salary much more than the amount for which i bought the property and i had a bank balance more than xxxxx purchase price at the time of buying property.
Please guide how to answer the query from income tax.
LOOK4U
03 December 2016 at 11:21
IN 31-03-2016,,,IN BALANCE-SHEET ...I HAD COH- RS-5200
NOW FROM MY OLD SAVINGS...FROM MY DRAWINGS....
DUE TO DEMONETISATION.....I HAD CASH DEPOSITED...45000 * 4 TIMES=RS 1,80,000
QUES....
WHAT WILL BE ACCOUNTING ENTRY....
CAPITAL INTRODUCE (DEMONETISATION) RS-180000
& CASH DEPOSITED IN TO BANK.....
EML-- LOOK4U@REDIFFMAIL.COM
Manoj
29 November 2016 at 20:29
I'm having 600yrds land and paid all taxes on this land.2yrs back i had given to a builder to construct a apartment.(total 10 flats) owner share 45% and builder share 55%.now construction is over.now builder asking service tax on owner flats.there is not mentioned in agreement. And we recieve NOC from builder.Is really owner should pay the service tax.
santosh
27 November 2016 at 13:05
One of My client is a govt. employee. He got form 16 from Employer for A.Y.-2014-15 in which 18000/- TDS deduction is submitted.But 26AS does not show TDS submission. After filing Return of A.Y.-2014-15 online he got notice from CPC as demand tax of Rs. 18000/-. Now How he will rectification U/S 154 will file online as 26 as does not show tax credit? Please reply anybody.
A.vinoth
27 November 2016 at 08:01
Our family property of 5 acre agri land. Our doc titled as agri land but in sale doc word ' agriculture land ' was not mentioned by the buyer in his doc. My query's that sale of our land come under capital gain tax ?
T.N.REDDY
24 November 2016 at 19:00
Sir,
Receipt of showcause notice was on 26-09-2016 where in 7 days time(within 7 days) was granted. I submitted the reply to the showcause notice on 03-10-2016. But the assessing authority says the reply should have been submitted on 02-10-2016.Hence, kindly clarify as to what will be the correct due date ie.is it 02-10-2016 or 03-10-2016 in this case.
Normally, the day on which we receive the notice- will be it be counted or not to be counted.
kindly clarify
T.N.REDDY
18 November 2016 at 21:50
when appeals are made to the higher forums seeking the relief on certain issues that were raised at the the time of show cause notice as well as assessment order, whether the appellate authority should decide the case on the issues which are raised supra, but appellate authority is bringing in the new issues which never discussed either at the show cause notice nor at the time of assessment order. Is it correct ?
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Investment in lic jeevan akashay plan through huf
I AM A KARTA OF MY HUF, I HAVE INVESTED RS.500000 IN LIC JEEVAN AKASHAY PENSION PLAN THROUGH HUF FUND FOR BENIFIT OF HUF . I WILL GET 3400/PER MONTH FROM NEXT MONTH TILL SURVIVAL.
NOW I WANT TO KNOW WHETHER THE MONTHLY INCOME THROUGH JEEVAN AKSHAY WILL THE INCOME OF HUF OR MY PERSONEL INCOME FOR INCOME TAX POINT OF VIEW.