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  • 2015

Invitation to join taxguru.in panel of Authors / Submit Articles

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Invitation to join taxguru.in panel of esteemed authors / Submit Articles

TAXGURU.IN would like to invite Authors to join our esteemed panel of Authors. The Authors who like to be Part of  TAXGURU.IN and get their article published on our website can mail their article to us and we will publish the same with due credit to the author.

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223 thoughts on “Invitation to join taxguru.in panel of Authors / Submit Articles”

  1. Khokon Seal says:

    We are holding a traditional music festival at heritage sites in Bhopal . The performing artists are Hariharan ( vocal) Niladri ( Sitar) , Sabri Brothers ( Qaualli) , Rakesh Chaurasia ( Flute), Aman Ali Khan ( Tabla) , Rahul Sharma ( Santoor ) etc at heritage sites. The festival is free for all. We have also signed an MOU that we will be holding this annual even t for the next 2 years as well

    We are paying directly to the artists, not through any mediating company.

  2. Gagan Singh Negi says:

    Dear sir, I had constructed a house in Zirakpur where i am staying by taking loan from ICICI Bank for Rs.3,40,000 and availing the tax benefits. I almost repaid the loan and would like to closed before applying second loand. Now i am planning to take a second loan on this said property to renovate and extend the House, Is it possible for me to claim the tax exemption benefits or not for the second loan o same property which i had availed tax benefit

  3. Amal Mukherjee says:

    I need Form 18A import documentation for WCT. What is procedure

  4. S.Sen says:

    Sir we want to know that if we purchase computer by paying excise duty (capital Goods) and we rent it to customer (supply of tangible goods).Can we take canvat on payment of service tax

  5. chiragshah says:

    Respected Sir,
    We are in the business of manufacturing of MS Angle, i.e having Rolling Mill. And we are using V Belt & Wire rope having chapter subheading No is 40103690 & 73121010 as a parts of machine for manufacturing MS Angle.
    Can you please suggest under which head i.e Under Capital Goods or Input?
    Our raw material is MS Billet: 72071920
    Finished Goods is MS Angle: 72165000
    please looking for your keen reply

  6. akshay gupta says:

    Technoweigh India was established in 1994 and is one of the fastest growing manufacturer of Mobile weighbridge in India. We offer Load Cells,Electronic. veiw more – weighbridge

  7. vijesh says:

    Dear Sir, Asst.Y.2013-14 IT return can revise today date Pls suggest me

    1. TAX DESIGN says:

      Yes Vijesh, Asst Y. 2013-14 return can be revised today.

  8. AKSHAY VYAS says:

    Dear santosh,

    call me 9016069419

  9. Name says:

    Can I get both benefit of HRA and Housing Loan principle and interest in the same city? My house, which I have purchased through housing loan, is presently rented out and I am living in a rented house. Please guide me

    1. Deesha Shah says:

      yes, we can get the benefit of HRA and housing loan principle and interest if we can prove that we are leaving in a rented house and the rent receipts for the same are available with us.

  10. GiridharapuramParthasarathy says:

    I want to know if any excess payment made for the first half yeraly under tamilnadu professional tax can be adjusted in II half yeraly paymnet

  11. Ratan Chakraborty says:

    R C Associates, Nagpur
    Providing Consultancy and support services on Central Excise, Customs, Service Tax.

    – Handling direct and indirect tax Assessments, rectifications, refunds and litigations. Ensuring compliance with local tax laws and minimizing tax outflow. Where tax schedules are prepared by station, review tax computations before submission to ensure accuracy and compliance with law. Ensure tax deadlines are met. Obtain and review the relevant tax laws and keep the team updated. Establish internal processes and reports required for tax purposes with Corporate Accounts. Work with external tax consultants for completion of their review, tax return preparation and filing and query resolution process.
    – Leading the discussion with senior counsels and advisors for all issues and litigations, including coordination with the head office for the same. Designing, driving and implementing tax strategies for the region.
    – Monitor and review tax compliance periodically and annually to ensure there are no exposures to the group on account of non-compliance. Perform research on tax issues raised by Group companies, lead discussions with consultants and advisors to resolve issues.
    – Advise on appropriate tax clauses in agreements and contracts of internal departments and group companies to safeguard from unbudgeted tax exposures resulting in cost overruns at a later date. Advise and highlight implications of tax clauses in Head Office (HO) and Group contracts to businesses and help negotiate alternative tax clauses where appropriate.
    – Research tax implications, Ensure that agreements are structured to minimize tax exposures and that any appropriate expert tax opinion is sought where required.

    • Compliance
    – Ensure compliance with all Direct and Indirect tax rules and regulations applicable to the region. The job would include compliance with all central bank and corporate law applicable in the region. Managing timely filing of all regulatory returns on behalf of the org

  12. Venkat says:

    I need VAT,CST, ED, ST and import documentation process and clarification

  13. SANTOSH SHINDE says:

    i am a director of producer company
    i have purchase raw cotton form direct farmer and process and finalized the cotton my product is "processed cotton" i am sale this product to spinning mill how many MVAT TAX liable to this product and exempt this product

  14. SANTOSH SHINDE says:

    i am a director of producer company
    i have purchase raw cotton form direct farmer and process and finalized the cotton my product is “processed cotton” i am sale this product to spinning mill how many MVAT TAX liable to this product and exempt this product

  15. Vinay Kumar says:

    Insuring India brings you online comparison of Life, and Insurance policies, with best quotes from all insurance companies in India

  16. vijay says:

    Bank has sold the immovable assets of the borrower under Sarfaesi Act and recovered a hand sum amount by selling the immovable assets of the borrower in a purported public auction ,which was void of public participation.As the borrower lost his counter claim his OA/matter is pending for adjudication before DRAT, since last couple of years.However Recovery officer has issued further notice under RDDB Act for the recovery of balance amount.But suddenly the borrower has realized that the bank had not sold his movable assets ,which were in possession of the bank since last 8 years and had also not set of the value of the same from the purported dues.Now my question is that how the bank could retain the movable assets of the borrower since last more than 8 years, and how pending set of or adjustment of the value of the movables , bank could issue recovery certificate against the borrower for the balance amount under the RDDB ACT 1993? Is it not a fraudulent act on the part of the bank to issue or get issued such a recovery notice ,without the determination of the actual dues .is is also not violation of the Sarfaesi act that the bank did not dispose of the movable assets prior to the disposal of the immovable assets ,8 years ago? It is pertinent to mention here that in the instant matter bank was the seller and the bank was the auction buyer at the reserve price , without paying the mandatory 25% of the bid amount at the fall of the hammer and that too without the consent of the borrower.Under such circumstances can’t the borrower file a damage suit against the bank and also demand the return of his assets on the plea of flagrant violation of Sarfaesi act?

  17. Pareek says:

    There are TWO panesl of auditors representing for audit date extension, –Both wants date extentions but ONE panel wants date extension on last date i.e 30th Sept otherwise clients will not speed up work, and others worried about work-in-progress. All the Hon’ble High Courts status given except CHENNAI/MADRAS Hon’ble High Cout’s direction.

  18. Pareek says:

    There are TWO panels fo auditors One wants date extension BUT the information on LAST date i.e on 30th Sept, otherwise clients will not speed up and other worried of Work -in-progress otherwise all Hon’ble HIGH courts status are given except MADRAS/CHENNAI Hon’ble High Court

  19. santosh Kumar mahato says:

    ITR-V E-filing No 589675910030715 date 03 July 2015
    Refund has not been received

  20. ramdas says:


    My uncle own a land and in this land there is 16 legal heirs including wife, brother, sister, son, daughter and their children. All are given power of attorney and NOC to uncle.

    He developed land jointly with builder and built a multi story building having two wings, one for each, uncle and builder, Now uncle wants to sold all flats of his wing,

    Is My uncle have to pay any kind of tax by selling flats of his property. If yes please let me know what kind of tax and how to save the tax

    Thanks in anticipation

  21. mandar says:

    Dear sir,I want to know the employer’s liability whether an employee not demanded and do not want to become a member of providend fund scheme in course of his 16 years service,where his other co-employers are enjoying the benefit for many years till today and If such a member demand this benefit after his resignation from his service,Is this right ? He joined service on 1.7.1999 and resigned on 1.7.2015,
    please reply us via email as soon as possible.
    Pmandar –

  22. mandar says:

    Dear sir,I want to know the employer’s liability whether an employee not demanded and do not want to become a member of providend fund scheme in course of his 16 years service,where his other co-employers are enjoying the benefit for many years till today and If such a member demand this benefit after his resignation from his service,Is this right ? He joined service on 1.7.1999 and resigned on 1.7.2015,
    please reply us via email as soon as possible.

  23. Nitin Goyal says:

    HI Sir,
    For My Brother I filled E return for last and this year with 2.5 lakh income each year in this September. He want to make a fixed deposit of worth Rs 5 lakh.So is it suitable to do that so as to avoid any income tax access income notification.if not what is the maximum amount he should deposit.

  24. sachin says:

    Dear all,

    Just send your queries in my email id . casachin_jain@yahoo.com

    CA sachin jain
    Mob. 9953077140

  25. sachin says:

    Dear Daisy Talukdar,

    You must show both bank interest income in ITR 1.

    CA sachin jain

  26. sachin says:

    Dear Ankur,

    As per section 54 you can get benefit against purchasing of single house even you sold more than 1 house.

    For further clarification feel free to contact.

    CA sachin jain

  27. sachin says:

    Dear Randhir,

    Employer contribution PF does not part of income and it is not include in your total income therefore this will not be part of section 80C.

    Employee contribution will be part of section 80C.

    For further clarification feel free to contact me

    CA sachin jaij
    Mob. 9953077140

  28. ASHOK KUMAR says:

    Subject: PAN No. ARIPK4069N issued Two Individual Persons -reg.

    With due respect, I am requesting to NSDL, Mumbai by Email (tininfo@nsdl.co.in) from last 5 months regarding (Same Permanent Account Number (PAN) to two different individuals allotted by NSDL, but till date no any action/correction done by the NSDL.

    I have issued a PAN No. ARIPK4069N (ASHOK KUMAR) on June 2006 by NSDL, Acknowledgement No. 010100200295500, Branch-1010, Alankit Assignment Limited, New Delhi. But My PAN No. ARIPK4069N have been again re-issued on September 2014 other person (AJAY KUMAR) Acknowledgement No.072799700032500.

    Now you can seem the above differences both PAN No.ARIPK4069N (Ashok Kumar) issued to me on June 2006 year. And second AJAY KUMAR re-issued on September 2014, and as such I am feeling very much tension in my mind as I have to fill the Taxes and the other legal deposits like Income Tax etc..

    I am a Central Government Employee of Directorate General of Inspection Customs & Central Excise, New Delhi. My PAN No ARIPK4069N does not match in my name for Tax Deduction and it seems to be an error at Income Tax department. My NPS (PRAN No.110063654557) issued me January 2014 by NSDL and deduction contributing amount per months from my salary per months.

    Please take necessary action as soon as possible.

    Thanks and Regards,
    ASHOK KUMAR S/o. RAN SINGH Date of Birth – 07.07.1979
    Mobile No. 99997 83177 E-mail: monugeet0707@yahoo.com

  29. ASHOK KUMAR says:

    Subject: PAN No. ARIPK4069N issued Two Individual Persons -reg.

    With due respect, I am requesting to NSDL, Mumbai by Email (tininfo@nsdl.co.in) from last 5 months regarding (Same Permanent Account Number (PAN) to two different individuals allotted by NSDL but till date no correction done by the NSDL.

    I have issued a PAN No. ARIPK4069N (ASHOK KUMAR) on June 2006 by NSDL, Acknowledgement No. 010100200295500, Branch-1010, Alankit Assignment Limited, New Delhi (copy enclosed). But My PAN No. ARIPK4069N have been again re-issued on September 2014 other person (AJAY KUMAR) Acknowledgement No.072799700032500
    Now you can seem the above differences both PAN No.ARIPK4069N (Ashok Kumar) issued to me on June 2006 year. And second AJAY KUMAR re-issued on September 2014, and as such I am feeling very much tension in my mind as I have to fill the Taxes and the other legal deposits like Income Tax etc..
    ASHOK KUMAR Mob : 09999783177 E-mail : monugeet0707@yahoo.com

  30. Randhir says:

    Every month R5000 is deducted towards EPF from my salary. Of this, R2500 is the employer’s contribution. I would like to know whether the employer’s contribution is covered under 80C deductions for income tax. My employer says that only employee contributions can be claimed under 80C. Is this true?

  31. ankur chaudhary says:

    if i sold 2 HOUSE
    let sale consideration of both house 525000+375000=9000000
    and purchase ONLY ONE HOUSE of rs 9500000/-
    THEN what is limit OF Exemption U/S SECTION 54

    Can i claim exemption of whole amount 950000/-

    Rule says that if one house property sold then one should be purchase then we can claim exemption u/s 54

    but in my case i sold 2 house property and purchase only 1 house
    but value of purchase is higher than both sale consideration

    Please advice me

  32. amit says:

    Epf meerut department missing my 200000 rupees where to make complaint
    मेरे PF अकाउंट से 200000 rupees गायब हो गए है. मेरा PFअकाउंट है- MRMRT00287520000000436.

    सर मेरा ईपीएफओ मेरठ है। जिसका नंबर MRMRT00287520000000436 है. सर मेरा अकाउंट २००७ से

    २०१३ तक था. सर पुरे इंडिया में EPFO Meerut department*सबसे फ्रॉड डिपार्टमेंट है. EPFO Meerut

    department* के एम्प्लाइज सबसे ज्यादा बईमान ऑफिसर्स हैं. ये मेरे PF अकाउंट के 200000 रुपए खा

    गए. मुझे मेरे 7 साल की जमा पूंजी के सिर्फ 24 जुलाई को 13169 रुपए और 3246 रूपए ही मेरे अकाउंट

    में मिले. ये मेरी सैलरी से कटे हुवे PF से 200000 रुपए खा गए. आप में से कोई भी पता कर ले मेरे

    अकाउंट की जानकारी से. मैंने अपने अकाउंट की इनफार्मेशन के लिए ३ जुलाई को RTI भी जमा करी.

    लेकिन उन्होंने जवाब देने से साफ़ मना कर दिया। सर मेरे अकाउंट की जानकारी निकलवाए आपको

    खुद पता चल जायेगा मेरे अकाउंट में कितनी बड़ी गड़बड़ हुवी है. EPFO मेरठ डिपार्टमेंट के घर इनकम

    टैक्स की रेड पड़नी चाइये. ये सब चोर है. जनता का पैसा खा के ये डिपार्टमेंट वाले कही प्लॉटों के

    मालिक है. EPFO डिपार्टमेंट वालो के अकाउंट में लाखो रुपए मिल जाएंगे. इन्होने विदेशो में भी कला

    धन जमा कर रखा होगा। EPFO डिपार्टमेंट वालो के घर में इनकम टैक्स डिपार्टमेंट की रेड पड़नी चाइये.

    तभी कला धन वापस आएगा।

    मेरा EPFO मेरठ डिपार्टमेंट में 2007 से 2013 तक अकाउंट था. जिसका नंबर है-

    MRMRT00287520000000436 . मुझे सिर्फ 24 जुलाई को 16615 रुपए मिले जबकि मुझे 2 से 3 लाख

    के बीच मिलने थे. पर इन EPFO मेरठ डिपार्टमेंट के एम्प्लॉय ने मेरा सारा पैसा खा दिया. मेरे जीवन

    भर की कमाई खा गये. सर ऎसे तो हो गया मेके इन इंडिय. मोदी सर मेरा आपसे निवेदन है की आप

    इनके खिलाफ कड़ी करवाई करिये. ये सिर्फ मेरे साथ ही नहीं हुआ होगा। न जाने कितने लोगो के साथ

    इन्होने किया होगा। हमारी सैलरी से जो PF अकॉउंट में काट दिया जाता है. उसमे से हमे सिर्फ 16000

    रुपए मिले। बाकि ये डिपार्टमेंट वाले खा जाते है. अपने बीवी बच्चो के नाम हमारा पैसा विदेशो जमा

    करवा देते है. आप मेरे अकाउंट की डिटेल निकलवाए की इससे 2 लाख रुपए कहाँ गए और मुझे सिर्फ

    16415 रुपए क्यों मिले? मैं EPFO मेरठ डिपार्टमेंट की कम्प्लेन इनकम टैक्स डिपार्टमेंट, लेबोर कोर्ट, श्री

    नरेंद्र मोदी जी, सुप्रीम कोर्ट, हाई कोर्ट, लेबर मिनिस्ट्री , सीबीआई, में करूँगा।

    प्लीज सर मुझे मेरे PF की पैसा दिलवाए।


  33. Daisy Talukdar says:

    I have two accounts in SBI and HDFC banks. As per Form 26AS My TDS has been deducted from HDFC bank even i have not fall in TAX slab. But in SBI account I also get interest for which TDS was not deducted. Now if I shall file the ITR-1 for Tax refund should I show both interest from SBI and HDFC or I need to follow the Form 26AS which shown only HDFC interest.

  34. E Tax Consultants ! says:

    Deaer All,

    Just send your all queries at ehelptax@gmail.com and get them solved.

    Regards !

    E Help Tax !

  35. SAG Infotech Taxation Software Company says:

    I would like to join your group and share important tips and articles that are related to tax.


  36. mahesh says:

    Dear Sir,

    Any one provide us regarding about excise return ER 1, how can prepare & submit it file on excise site

  37. mahesh says:


    Could you pl. provide ITR-1/ITR2/ITR/4 in excel format for online submit return file.

  38. madhuri gardas says:

    Not receiving daily updates on my mail

  39. Ravi Makharia says:


    Need a clarification if the short term capital gain from short term liquid mutual fund can be offset against interest paid on loans taken.




    hello sir,
    please tell me tds deduct on lease line?


    TDS deduct on lease line if yes then which section ? and please mention ref section.

  42. M D Nagda says:

    An American citizen of Indian origin based in California, founded an American Company which has a branch in India (not a public limited company). He employed his uncle, ie, his fathers brother who is a doctor, on a retainer for professional medical services (after the uncle retired from salaried employment of another company) in India, in the early 2000s until late 2009. His uncle is now 87 years old and retired, is an Indian citizen living here, and files his returns.
    American citizen first gifted his uncle stock options in the company in 2005 and 2008. Then, he made an outright gift of common stock to his uncle in 2011, 2013 and the last one in October 2014 for which there are stock certificates. Meanwhile, in 2009, the uncle had left the services of the company. These shares were never disclosed in the IT returns which were filed every year.
    As it happened, the company was sold to another international company in April 2015. The first installment was paid out to the uncle in May 2015 after signing various documents. Proceeds of transfer of stocks are to be received in installments.
    Given that the uncle had not disclosed any of the Stocks / shares received, in the IT Returns as assets held outside India in any of the years, and did not pay tax on it –
    – Now, that the stocks are transferred and proceeds are received in installments from May 2015, should he pay advance tax on short term capital gains on sale of stocks for A.Y.2016-17 and disclose these in the regular IT Return for A.Y.2016-17 or should he file these under the new ‘Undisclosed foreign asset Bill’ and pay capital gains tax plus the penalty?
    – If he must file it under the new bill, does that apply to the last lot of shares received in October 2014?
    – The second installment comes in Feb 2016 and 2 or 3 more installments held in escrow account in late 2016. Should he pay tax on what is due in 2016 only or on the whole amount?

  43. Poonam Aggarwal says:

    We have just signed State Bank Statutory branch audit report. All Reports were prepared in bank computers. Our rubber stamps are also lying with the branch head as the work was completed in late night hours. They assured us that they will provide us one complete set for our office record after arranging all documents;

    Now the Head office of the bank is requiring soft copies of the reports from us. WE requested the branch officials but they postponed the matter. Now they are not connecting.

    We want to know auditors rights after signing the audit report. Auditor is in office until AGM. Auditor has a right to attend the AGM and be heard. Whether same applies to branch auditors;

    We do not want to request them any further. Please tell us our powers and rights, so that they recognize our presence and not avoid us;

  44. Sanjay says:

    Dear Sir, I have FD’s in my spouses name and this year TDS was deducted as interest crossed 10k and it reflects in her 26AS. As she doesn’t have any other source of income and I included her income as part of my return (clubbing). Will ITR2 form allow me to include her TDS deduction in my return or I need to pay total tax as a part of my return. And in that case, how I can claim TDS which is deducted on my spouse name?
    Thank you.

  45. Ashsih says:

    I am a contractual working in kendriya vidyalaya getting salary but TDS is being deducted u/s 194J however it should be duducted u/s 192, so my concern is which ITR should i file , ITR 1 or ITR 4 ?

  46. krishna says:

    Sri Laxminarayana Jew is a deity. Some term deposits are in bank. There is TDs on the accrued interest.
    Such deposits were made in way back 1980 so as to meet the expenses of deity’s daily puja expenses. There is no other income.
    Whether the deity under the status of A J P , could claim expenses from such interest income. Which Return Form to be files for AY 1415 and 1516.
    Is there any case law to support.
    thanks and regards

  47. Ashwani Srivastava says:

    Hi, I have a property in Pune on which I had taken a Loan. I am planning to rent this property and staying on rent in the same city. Now I am sure I can claim Priciple and Interest componant of the Loan. But for HRA (for which I am paying rent) and Rent received from my property (Income from other sources), Can I claim HRA and show the rent received or HRA cannot be claimed or it is not required to show Income from other sources. Please explain?

  48. anjaan says:

    Hi I went to goa for a trip with family. Total Expenses Incurred 100000.Can I get any exemption or deduction under any section.

  49. Datta says:

    I have a client. he has good running business (Pvt ltd). he want to expend his business. for that he required funds. he don’t want to go for financial institution. he has money. he don’t want to invest as a capital. can he get loan form friends? please let me know.

  50. Arun Kashyap says:

    Dear Sir,

    I would like to get emails on S.Tax, ITR, Income Tax any updates to my email id. How can I subscribe it?

  51. Nitu Jain says:

    Dear Team ,

    I have a query on Wealth Tax .

    One of my relative have 2000 gms of Gold(jewellery & bullions both) which she got during her marriage & from her fore fathers . But till date no Income tax return as well as wealth tax return has been filed as there was no one to guide her on this matter .

    Now , i have taken charge of this . I want that all her return should be filed & assets should be disclosed.

    Now problem is that she don’t have any record for this 2000 gms of Gold. If we disclose it as Wealth what are the consequences which can be faced by her. Are ther chances of search & seizure under sec 132

    I have gone through the section but want guidance on practical ground . Please guide me on what to do with this

    Thanks & Regards,
    Nitu Jain

  52. shrenik kumar sancheti says:

    Dear sir,
    An HUF receives a sum of Rs.425000/- in the beginning of this financial year, of 30 yrs. old litigation this year through cheque as settlement amount through court. The basic amount was been shown since 30 yrs. Rs.115000/-in HUF Balance sheet (assets side). Since 30 yrs. no provision of interest was made on that litigation amount. What would be the tax implications for that as that HUF income is only interest income about 80000/- annually from other sources.. Kindly suggest ways to save income tax . Are there any investment plans to save the entire amount from taxation. kindly guide me.



    I have filled E-filling of IT Return, I having refund of Rs.17000/-(Approx.) in the f.y. 2012-13 and Refund of Rs.20000/-(Approx.) in the F.Y 2013-14, IT department has raised a demand amounting to Rs.820/- for the f.y 2009-10, and i have not paid this demand of Rs.820/- hence my refund may be put on hold??????


  54. Rawal Singh Bhati says:

    Shital yes you can settoff short term loss in share against next year gain in property

    Subject to share is held as investment not as business trading

    Read section 74

  55. Rawal Singh Bhati says:


    Income arising from profit of firm shall not be forming part of your total income [ i.e, share in profit is fully exempt for partner]

    For Salary and interest you have to calculate, there is no excuse in law

  56. Rawal Singh Bhati says:

    MR. Manoj

    You are eligible for full amount since 80C gives benefit on payment basis, arrear or prepaid is irrelvant.

    so at the time filing of return you may claim refund

  57. Rawal Singh Bhati says:

    Mr. neeraj

    you have LTCG, and calculate tax seperatly 10% or 20% which ever is in ur favour

  58. Rawal Singh Bhati says:

    MR. Sridhar Raj

    YES you can claim, subject to payment is made by you and maximum limit

  59. tarun mathuria says:

    I want to sell the share I am holding and want to invest the money for the purchase of my second house . kindly let me know whether it will reliable for tax relief,
    kindly let me know

  60. Reji says:

    I have equity of few companies which has been purchased long back whose purchase price details is lost. How do I submit the return for sale of these shares (ITR2)?

    Thanks in advance

  61. Tax Article Author says:


    I have found a publication on your website that was clearly plagiarized from an article I wrote two years ago. How do I have this article taken down from your website and make sure this author does not publish here again?

    Thank you.

  62. Anup Singh Singh says:

    Dear Sir,I Am Beneficiary Owner Of Agriculture Income Is IT Include In My Income For Tax Purpose And The Agriculture Land is not On My Name Legally

  63. KIRAN PAL says:

    if any government employee present a rent agreement ( 1/3/2014 to 31/03/2015 ) on stamp paper issue2/3/2015 attested by notary or oath commissioner will be valid or not valid . Can DDO take rebate on HRA 12 month

  64. Nagoji says:

    I have three properties, two residential and one commercial.I using one property for me and another two letout. i have taken loan on one property and total interest is 516000, interest deduction is 200000 and remaining 316000. Rent for two properties Rs.181395 after all deductions i.e tax and 30%, can I compute in deduction rent rs. 181395 from balance interest.


    Dear Sir
    While filling up ITR5 in case of partnership firm we normally fillup profit and loss account showing all the turnover and expenses depreciation etc and profit is worked out as profit before allowing interest and remuneration to partners and in Schedule BP we deduct allowable interest and remuneration amount from column no. 31 as any other amount allowable as deduction and finally taxable income of firm is worked out. But now I have received notice u/s. 139(9) pointing out that deduction shown on account of interest and remuneration at column no. 31 of Schedule BP is not correct and needs rectification, kindly advise me from where which column i have to deduction interest and remuneration out of profit of firm.

  66. G Panicker says:

    Can I claim self-lease on a flat where I am co-owner?

  67. G Panicker says:

    Can I claim self-lease for a flat where I am co-owner? Pls let me know.

  68. G Panicker says:

    Can I claim self-lease on a flat where I am the co-owner?

  69. G Panicker says:

    I am the co-applicant of a flat under construction. Can I claim self-lease on the property from my employer?

  70. Rishi Vyas says:

    if a company proceeds for right issue of shares u/s 62 of CA 2013, do the company require to open a excrow account?? if yes then do the company require to execute escrow agreement??

    if all this reuire to intimate to ROC??

  71. CHANDRASEN says:

    Sir, my flat is now under construction, i am taken a loan form SBI and my company.currently i am not getting a tax benefit because my house is under construction.but currently i am given only interest to bank not totally EMI deduction . how can i show that interest after possession of flat.which document i required to take now for showing interest after possession.

  72. Shital says:

    Respected Sir,

    In individual account can previous year’s short term losses on Equity shares and/or Equity Mutual Funds; we set off against short term gain on sold of property in current year….?


    in the case of a partner of a professional firm, if his total incomes consists of only share of profit from firm, interest & salary from firm, whether Sec. 207 & 209 relating to payment of advace tax is applicable to the partner? Because, the partner’s current income would entirely depend on the book-profit of the firm which will be derived only on 31st march end every year. How can the partner estimate his current income if he is not able & cannot estimate firm’s book-profit for the current year. Please clarify. Also, interest and salry to partners will be at sole discretion of the firm and the partner will be uncertain about its accrual at the year end.

  74. Manoj says:

    Dear Sir,
    I am working in an autonomous body of Govt. of India. I have joined service on 16th January 2013. After my training period of 1 year, i took charge as Assistant Engineer. My NPS account was opened after my confirmation and I have paid Rs.53491 for FY 2014-15 and an arrears of Rs.51214 for FY 2013-14 towards NPS i.e. I have paid a total of Rs.104705 towards NPS in this FY only. Same amount is contributed by the organisation.

    The problem is they added the total amount i.e., Rs.104705 to my gross but are deducting only Rs.53491 and saying that I have to pay tax for remaining Rs.51214. Many of my colleagues who joined with me are facing the similar problem. Please clarify on this issue & suggest if there is any section for exempting the arrears. Please reply as soon as possible. Urgent.

  75. jatinder singh says:

    Sir i want to ask whether fixed mobile allowance amount received by a govt. Employee is taxable or not? If yes under which section? Pls give clear yes or no answer

  76. Neeraj says:

    I have invested 3600 Rs. in 1993-94 in Deep Discount Bond issued by Sardar Sarovar Narmada Nigam ltd. I have received redemption amount 50,000 in 2014-15.
    My query is that this amount will come under other income and submit ITR-1 or will be treat as long term capital gain and submit ITR-2.

    If it will come under LTCG then in which manner I will pay tax and what is correct?
    1)When I include in my total income I come under 20% tax slab
    2) or I should exclude it from total income and calculate tax separately on salary and on redemption amount 10% or 20% (with indexation).

    your guidelines are deeply required. Plz..

    Thanking You

  77. Sridhar Raj says:

    Hi Sir,

    Need your help on my query.

    In Oct 14 ,My father has undergone with Angioplasty with 3 stents to Blood Vessels in hyderabad ,he doesn’t have any Insurance so we paid total cash amounted to 5.20 Lacs.

    My Question is whether i can get any tax benefit under 80DDB or not or is there any way to get.

    Thanks in Advance,


  78. agya ram luthra says:

    I and my wife both take a homeloan jointly but due to benifit of stamp duty home is registered on the name of my wife but the repayment is deducted from the salary account whether we both take income tax rebate both

  79. Daud ansari says:

    I have articalship pls help me

  80. Dilip Kumar says:

    Dear Sir,
    I am a salaried person and in current year that is 2014-15 I drawn salary from bank upto 25th September then I resigned after refunding the 3 months pay to bank.Then I joined kvs so, I want to know is that refunded amount will be added in my income from salary or not. Please help sir.

  81. SARTHAK says:

    Dear Sir a person which is chairmen of society take a vehicle loan in his name.and vehicle provides to society for running. and society deposit a account payee cheque of a registration charges and monthly installment to Chairmen,and chairmen deposit these money into financial instituation
    1.whether society is liable to deduct tds and under which section.
    2.whether it is possible if Chairmen done a agreement to sell vehicle with society under HIRE Purchase aggrement(when loan is over, vehicle transfer in the name of society).and tds not deducted

  82. Amit Kadakia says:


    I misplace Form 303 (sales tax assessment order) can you help me out how we can proceed further for the assessment.

  83. Suresh says:

    Dear Sir
    i am tatoo artist can i file as profession income or business income and which form i will fill and submit and i should maintain books of accounts

  84. rajesh says:

    Dear All,

    I need your valuable inputs over the following matter –

    Can any company ask to pay the salary transferred in his a/c after resigned, while they didn’t cleared Full & Final. They send a computation sheet stated few PL’s ( while actual PL were much high according to last salary slip)

    Kindly suggest further, as that company send a registered AD stated to pay the amount with in 15 days.

    Thanks – Rajesh

  85. Kanhaiya Chaudhary says:

    Sir I have sent you two articles till now. But my articles were not published. And I did not received any mail why were my articles rejected. You must send a written mail that what omission was made in sending the article so that sender could know that what mistake he made and he will remember in sending the further article

  86. Avishek Saha says:

    Hi Taxguru,

    I am Avishek Saha, a salaried person. I need your guidance on my IT return problem.

    On AY13-14, I didn’t have any taxable income. Thus I didn’t submit IT return.

    On AY14-15, I have taxable income and I filled IT return in online.

    But the problem is while submitting ITRV form in online, by mistake I have chosen AY13-14 instead of AY14-15. and I have submitted my current year income wrongly with AY13-14.

    From CPC, Bangalore, they have sent me an order to pay a huge amount which include Tax, interest (234A,234B,234).

    I have submitted a revised ITR for AY13-14 as well as a Rectification. However I have received response of the rectification with same amount. Revision status is in progress.

    I need your guidance in this regards, otherwise I need to pay a huge amount unnecessary while there was no taxable income on AY13-14.

    Avishek Saha

  87. sk singh says:

    Dear Sir
    I booked a flat in 2004 from army welfare housing organization in Bangalore and paid Rs 5.25 lacs as booking amount. CONSTRUCTION COMMENCED IN 2010 AND I WAS GIVEN POSSESSION IN JUNE 2013. The final cost was Rs 38lacs including booking amount, regn charges and legal fees. I now want to sell it and have an offer of Rs 54 lacs. How much capital gains tax will I have to pay and will the amount I paid initially (Rs 5.25 lacs) be also indexed? request urgent reply

  88. karamjeet says:

    Dear Sir,

    My parents made a home year 1982 on his own land and now they are Senior Citizen and want to sell it because I and my brother lives in other city and we both are working in different company, My annual income is 6 Lacks and my brother’s Annual Income is 8 Lacks.

    please let me know how much income tax to be pay, A purchaser told them that he will buy in Rs. 50 Lacks on paper and reaming money he will give without paper. But my parents denied to take in this way. So the deal could not possible. Please suggest us how much income tax to be pay on sell of house ot Rs 50 Lacks or on 100% pay on paper, like 1 Crore. because My parents want to make one other new house on other his own land that will cost approx 20 Lacks, and remaining Rs. 26 lack they want to fix for their own expenses to live, and other money either they want to invest or will give to me and my brother.

    We are confuse should they sell or not, because there is no any other income sources, they are getting pension Rs 10000 + Rs 8000 getting house rent from renter. Parents are confuse should they invest in other land at other place or what to do this money. and how to save income taxs..

  89. S RAMESH KUMAR says:

    tdscpc online challan correction facility is withdrawn from 04.11.2014 likely to be ..

  90. S RAMESH KUMAR says:



  91. MRS. SYEDA KHADERBI, M.A., M.Com., says:

    My application in Form 39 is rejected by CIT stating that I have not practiced before IT Authorities, for not less than one year as laid under Rule 55 of IT Rules, 1962. The Learned CIT has failed in proper application of mind & has totally ignored two things – (1) that imposing other than the “Act” is ultra virus, and (2) that the Rule 55 is inconsistent with Section 288(2)(vi) of IT Act, 1961. How to convince the CIT?

  92. mr.CB Ale says:

    Mr C B Ale
    Respected sir,
    I will process to refund tax 2013-14 .get to SMS received in time but not to credit amount says to tax department also incarret acc no: then I will send copy my bank passbook twice a time hens not to then credit to pay me my pan no: isAVBPA4711E please well be regard .

  93. satish chhipa says:

    sir ,
    i salary employee and earn 16500 p.m. and also earn commission income for society and earn rental income for house so sir i requsted you what ITR FROM SUBMITTED IN IT DEPARTEMENT and how to reduce my tax liablity
    because salary income 198000
    Rental income 72000
    commission ioncome 84000

  94. khushal gupta says:

    i am daily visit the your website & i appreciated that you solve the problems related income tax ,sales tax,excise duty, etc. so i say that you have received many problems related to income tax so you can send the problem to me & i contact the porsons & solve the problems.
    khushal gupta

  95. Teelaak says:

    Require the latest updates..
    please send me daily updates new/ matter
    Thank You..

  96. Sarika Gupta says:

    Dear Sir,
    I have a Flat at New Town Rajarhat, Kolkata. I received possession on 17/10/11 and registration & stamp duty was done on 1/2/2012. Cost is 6.5 lacs. If I sell this flat after 20/10/2014 i.e. 3 years for 20 Lacs, what will be my Long Term Capital Tax Gain? What will be the tax payable for this transaction?

  97. Mohit Tyagi says:

    Dear Sir,
    I want to know the income tax benefits in the HUF Firm. Kindly clarify me.

  98. Amar says:

    Dear Sir,
    I want to know the income tax benefits in the HUF Firm. Kindly clarify me.


  99. Honey says:

    Dear Sir,

    I want to clarify some points related to part time COP of ICAI –

    1) I am Chartered Accountant from ICAI, India and presently working in Dubai. Can I take part time membership from ICAI, India to become silent partner in India based practicing CA Firm ? If yes, in that case what will be my liabilities to intimate ICAI.

    2) Is it possible to engage in any other business and activity by Part time COP Holder ?

    3) What will be the liabilities of Silent partner in CA firm transaction ?

    You are kindly requested to give me reply as early as possible.


  100. Rekha Arun says:

    Hi sir/madam,
    I have two pan card, in different name… In that my dad name is wrongly mentioned, there is a spelling mistake, even my name also wrongly mentioned, it suppose to be rekha s, so please requesting you to cancel two pan card, actually I lost my two pan card also, but one pan card detail i have name is Rekha Arun, & the pan no is BGDPA0172P… The other one is nandini arun, but i dont have the pan no…Requesting you to cancel as soon as possible please.. Its my request, bcoz I’m getting lots of problem….

  101. Srinivas says:

    Dear Sir

    We are hiring manpower through an outsourcing agency @ 7% Commission. We are paying the commission on the sum total of Basic salary + Employer contribution to EPF & ESI. We are paying the Service Tax on the total bill amount (incl.Commission). My doubt is on the following 2 points

    1. Whether the commission to the agency is to be paid only on the Basic salary or including the contribution of EPF & ESI

    2. Whether the S.Tax is to be paid on the total bill amount or only on the Basic salary amount.

    Kindly clarify.

  102. subhash mane says:

    Hi Tax guru,Please guide me,
    I am Stategovt servent.Toatl tax In Financial year 2013-14 is Rs.55632/-which is deducted from my salary which shows from my Form no.16.
    i had transferd in two offices. ie. (1)01/04/2013 to 12/08/2014 in first office wchich dected Rs. 6000/- & (2) from 13/08/2013 to 31/03/2014 in second office tax deucted Rs. 49632/-.
    Second office already given e-generated TDS Certificate of Rs.49632/-.but first one office dont give me e-generated TDS Certificate of Rs. 6000/-.Where can i complaint against TAN Duductory? – See more at: http://taxguru.in/chartered-accountant/invitation-to-join-taxguru-in-panel-of-esteemed-authors.html#comment-1030500

  103. subhash mane says:

    Hi Tax guru,Please guide me,
    I am Stategovt servent.Toatl tax In Financial year 2013-14 is Rs.55632/-which is deducted from my salary which shows from my Form no.16.
    i had transferd in two offices. ie. (1)01/04/2013 to 12/08/2014 in first office wchich dected Rs. 6000/- & (2) from 13/08/2013 to 31/03/2014 in second office tax deucted Rs. 49632/-.
    Second office already given e-generated TDS Certificate of Rs.49632/-.but first one office dont give me e-generated TDS Certificate of Rs. 6000/-.Where can i complaint against TAN Duductory?

    for the period from 01.4.12 to 12.08.2013. My Company deducted TDS of Rs. 1,00,000 but not given TDS certificate till date. What legal remedy I have to force my employer to issue me the TDS certificate i.e. Form 16? – See more at: http://taxguru.in/income-tax/what-to-do-if-the-employer-refuses-to-issue-tds-certificate-and-can-i-claim-the-credit-for-tds-deducted-from-my-salary.html#sthash.UljgfCfu.dpuf

  104. Ritesh says:

    Hi Tax Guru,

    In financial year 2013-2014 , I was in UK for 6 months

    April to Sept 2013 : I was in India : Income 300000

    Oct 13 to March 2014: I was in UK : Income 13,000 GBP , Tax paid 1386 GBP

    Please let me know while filing return in India I need to consider UK income as Taxable income in India ?


  105. Abhishek says:

    I have one listed ltd. company which was under NPA from a bank in f.y. 06-07. Their was huge loss and now company come under OTS sattlement with state bank . So fulfill it’s OTS amount company has to sale it’s factory all assets including land. Land was purchased in 89-90 in 15 lac and now sold in 2.61 crore. Whole amount was deposited in bank’s OTS account then bank released the land document. How can we save the capital gain tax as company has nothing more to deposit tax.

  106. Jitendra Gohil says:

    clarification regarding Goods return cenvat credit under rule 16 of central excise rules 2002

    I want to get clarification about cenvat credit , in this budget our FM.has amended cenvat credit rules 2004 and fixed time limit for taking cenvat credit up to Six Month from the date of issue of invoice .
    in this base let me clear that if i am manufacture and i send material to my branch on dated 01-12-2013 which is situated in mumbai after paying duty and branch sends back some of goods return to me(ho) on dated 01-10-2014 so at that time can i take credit for the same duty paid goods which i receive from branch ….according to this budget ..

    Require Clarification on below Issue.

    In the regards of above discussed matter the F.M. has amended Cenvat Credit rules 2004 , rule-4 & rule-7 and for brought back duty paid goods in the factory rule-16 of the central excise rule 2002 is available and the same is not amended in this budget so please clarify me six month time limit will also be applicable on goods return cenvat credit ?.

  107. SRIDHARAN A says:

    Dear Sir

    I made a mistake while quick e filing, i put worng gross income and submitted, i received the ITR V form but i didnt sent the post to Tax department, I want to correct the issue, what should i do.
    kindly Help me to correct the issue.
    Note:i paid the tax correctly.
    While Efiling i didt the mistake.

  108. AJAY PATEL says:

    I am manufacturing of Stainless Steel Ingots,Flat, Roundbar and Brightbar.

    I am manufacture Own Production and Out side jobwoker production at our factory location.

    I am job worker material received Stainless Steel Ingots and I conversion Ingots to Stainless Steel Flat. At the mfg. of Jobwork process used mainly material Natural Gas in Rolling Mill. Gujarat Valued Tax Says Input Tax Credit reduce on Job work made from Ingots to Flat.

    But Flat its is not a exempted Goods Under Gujarat Valued Tax becuase next party received this material seling under tax paid.

    This Stainless Steel Flat is Taxable Goods under GVAT.

    Actully do its input tax credit reduced yes or No?

    So please request you to send us any Judgment of no Input tax Credit reduced on Job WOrk.

    Thanks N Regards,
    Ajay Patel
    Mangalam Alloys Ltd.

  109. sonu says:

    Respected Sir,

    we are operating own show room and sale of branded goods i.e. jackets and other material. but we have transfer all payment to company.

    for exemple: one pc rs. 100/- and sale rs. 150/- and we adjust the rs.10/- and we have transfer to Rs. 150/- branded goods.

  110. kanchan garg says:

    Whether Section 188 of Companies Act 2013 is applicable on Govt. Companies and PSU?

  111. Geeta Devi says:

    Dear Sir
    Re: Coupon No 546922696
    While checking status of PAN on UTISL site it displays “confirmation awaited from ITD”.I therefore request u to take the matter…
    no alternative advise is given to get the card. When do I receive the pan card after getting the pan no.? Please do the needful & inform me about dispatch ID bundle ID & consignment/Ucp no. So that I can call the for future communication if card not received in the meantime.

  112. rohitash yadav says:

    Sir i am govt. employee i am tax payer @10%. 2 yrs ago i take homeloan on my salary only and registerd on my wife she is housewife.i am getting tax benifit from 2 yrs. I am right ? if cant than what to do?

  113. Md-Fakrul Islam Choudhury says:

    I read the Article which was more interesting, i think the person who shared their ideas, views,this is fabulous the tax related article is more helpful for us.

  114. Rajesh says:

    Dear Sir, how r you,
    In 2011 my mother sell a empty plot for Rs 30.laks.and buy a empty plot of RS 12.laks in 2013.so kindly tell what we have pay tax or not.if yes .how we can save it.

  115. Bipin Kambad says:

    I have completed my CA article-ship in 1998. I have not cleared my C.A. intermediate examination till date. can I give intermediate/PE examination. What is the procedure? Please send reply.

  116. jeyaprakash says:

    Dear sir,

    We run Engineering college in coimbatore for the finance year 11-12, we have paid to mafoi randstad and cocubes.com toawards online subscription of wwww.cocubes.com for managing placement activity online for candidates and placement preparatory program whether applicable for TDS because our ITO has instruct to pay the TDS for assessment year 12-13. kindly clarification said query.

    Thanking you


    Dear Professional Colleagues,
    Please note the following details:
    1. There are 2 Friends (NON RELATIVES- NO Blood Relation)
    2. Both hold a FD Of Rs.10 Lacs @ ~10% interest rate in Joint name (EITHER OR SURVIOR).
    3. NOMINATION in 2nd Friends favour is availabe.
    4. “WILL” is prepared for transfer of FD Amount (incase of death of 1st holder).
    5. 1st Holder of FD is regularly showing total interest income in his personal income tax return.

    A] Incase of death of 1st Holder of FD, what will be the position?
    B] Whether Capital Gain tax will be attracted to 2nd holder & when will he have to pay tax? Is it at the time of transfer or sale (sale means auto maturity or transfer of funds to account/cash on maturity?
    C] Or this income will be taxable in 2nd holders hands as Income From Other Source?
    D] Anyother suggestion for minimising tax!

  118. Bharat says:

    dear Sir ,
    Building under construction liable to wealth tax under wealth tax act 1957

  119. head master ghs malali says:

    Dear Sir,
    I am a Tax Deductor. I have deducted my staff members Income Tax for the F.Y 13-14 in the month of FEB 2014 as TDS for last instalment. But the Salary Bill is not Passed by the Government Treasury (All Are State Govt Employees) due to lack of Funds ( T.P.Allotment for Salary). So I can not get get The BIN Numbers for 4th Quarter for filling TDS. what should I do now. How to file 4th quarter TDS within stipulated time.
    Please guide me.

  120. suresh says:

    Hi Sandeep, I hope you remember me in DSP BR Bloggers. meet. How are you ? I would like to do guest blogging on your blog and in return want a reciprocal link to my website. Please let me know in case you are interested. If yes, please inform in case any specific topic which you want me to cover or can I choose a recent topic on taxation and write an article…

    Would be waiting for your response.

  121. S RAMESH KUMAR says:


    RETURN FILED ON 10.02.2014 TODAY DATE IS 14.03.2014.




  122. S RAMESH KUMAR says:


    RETURN FILED ON 10.02.2014 TODAY DATE IS 12.03.2014.



  123. anup says:

    Traces is calculating Interest u/s 201(1A) on a wrong footing. Section 210(1A) states as under :

    “(1A) Without prejudice to the provisions of sub-section (1), if any such person, principal officer or company as is referred to in that sub-section does not deduct the whole or any part of the tax or after deducting fails to pay the tax as required by or under this Act, he or it shall be liable to pay simple interest, –

    (i) at one per cent for every month or part of a month on the amount of such tax from the date on which such tax was deductible to the date on which such tax is deducted; and

    (ii) at one and one-half per cent for every month or part of a month on the amount of such tax from the date on which such tax was deducted to the date on which such tax is actually paid.

    It is clear from Sec 201(1A)(ii) that the interest should be calculated from the date of deduction to the date of payment and it is to be converted to months, e,g, if delay is for less than 30 days (a month) even 1 day 1 month interest and if it is more than 30 days but less than 60 days : 2 months and so on.

    The Traces is calculating interest on month to month basis. E.g. even if TDS was deducted on 31.05.13 and paid on 08.06.13 (due date is 07.06.13), interest is being charged for 2 months instead of 1 month as per statute.

    Had the intention of the Statute had been to demand tax on monthly basis, the wording should have been “from the month in which such tax was deducted to the month in which such tax is actually paid”.

  124. SATYA says:

    I am a practicing C.A. I have a client whose status is a society. It has been running educational institution and the gross receipts exceed rupees one crore for the past several years. It has no 12A registration. It has not filed income tax return right from its inception. Now I wish to file the return for the A.Y. 2012 – 13 and 2013-14. In this background I wish to know what is the appropriate form ITR 5 or ITR 7? If it is ITR 5, under what head income has to be offerred? whether business/other soources? If it is business the provisions of sec.44AB would apply. To avoid it I would opt for income from other sources head. Here my query is since our client is maintaining regular books u/s 44AA, whether P&L a/c and B/S are required to be filled in the ITR? Once I fill the P&L a/c, the question of applicability of 44AB would arise. Can I fill income from other sources head directly by showing gross fees and claiming deductions u/s 56 without feeding the p&l and b/s in the ITR? Or shall I fill the P&L and B/S and and nullify the amount shown( i.e. net profit as per P&L a/c.)under the head income from business by filling the relevant colums such as considered under other heads of income (i.e. income from other sources)? In such a case can I avoid attracting the provisions of sec 44AB?

  125. SANDEEP JHA says:

    Dear Sir,

    Can anyone published the refrence with case law for allowablity of Directors Medical Expeses in foreign and their attendatns??

    Eagrly waiting.


    Sandeep Jha

  126. S RAMESH KUMAR says:







  128. B.K.SHEIKH ADVOCATE says:

    dear sir plz write anything about wrong communication and wrong demand raised by CPC (TDS) Ghaziabad to Govt deductors who have filled his TDS returns on due date 31.07.13 for 1qrt but CPC sent notice for late filling levy for 16 days i.e RS 3200, it is mental and physical harassment of deductors and professionals

  129. Ashok Kumar Kanunga says:

    As per F.No. 4-2/2014-NCM., G.O.I, Ministry Of Minority Affairs, Dated: 6th Feb 2014, JAIN COMMUNITY are covered under Sec2(c) Of National Commission Of Minority Act 1992 as minority So, CAN JAINS CONTINUE WITH HUF I.T File?

    Ph: 080 22255531.

  130. Jobins N J says:

    Dear Santosh,

    In order to get the tax benefit on account of losses incurred for the current year you have to do the following..

    a. File current year income tax return within the due date of filing the return by showing your losses.

    b. File the income tax return of the next year and claim set off of previous years losses.

    This will help you to save taxes on the next year.

  131. S RAMESH KUMAR says:




  132. Praveen says:

    Dear Santosh

    You can avail a tax benefit, but before that make sure that you have filed your Income Tax returns within due date specified U/s. 139. Income Tax Act specifies that the assessee should file the return within specified date, so you can carry forward your losses to next year and can be claimed under same head. I mean
    In case of business loss in current year, same loss can be carried forward to next year and can be claimed with profit from business in next year. (to claim such loss return should be filed within specified timelimit mentioned in Act)

  133. Huntington Beach Iphone Repair says:

    I am in fact happy to read this webpage posts which contains plenty of valuable information, thanks
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  134. Siddhant Jagga says:

    1. In the past I had taken a home loan for ancestral property renewal/ renovation of Rs 2 Lakhs and repaid back the complete amount. I claimed rebate also on it.
    2. Now I wish to have a home of my own and has been granted home loan for it. Will rebate be applicable for this fresh loan.
    3. Please uprise

  135. Rahul says:


    How many time we can file revised return? What is the time period for revised return? what will be the interest and penalty for late filing return and reduced payment of tax as per Kerala VAT? What will happen if there is a difference in between monthly return and annual return?

  136. Rishi says:

    A Company has a keyman policy. it has asssign to keyman in 2011 with consideration. now maturity of policy will be received by keyman in this accounting year i.e 2012-2013. now my question is as per amendmend in budget said keyman polic is chargeble to tax or not? before amendmend it was exempted u/s 10(10d)

  137. Nita Rani says:

    My question is:
    Is there any Income tax rebate after paying house tax. If yes, please tell under which section we can avail it.

  138. vijay says:

    Hay Good,

    I hope massages of mine finds you in the best of health & spirit.
    where the sales return effect when sale return form against f from

    Vijay chopra

  139. rakesh says:

    I am business man doing business since 1996 and my sales tax assessment is in progress of 2009-2010 of 31/03/2010,now I have taken some goods from local traders from my own city ,now the department says that from which firm u have purchased the goods are bogus and there nos are cancelled on 10/12/2012 and u are requested to pay the tax ,so pls guide me what should I do

  140. kalpeshpatel says:

    my assessee are doing business and their turnover is below 1 crore for a.y.2013-14 and their profit is more than 8% we are fleling their return as per u/s 44ad and not maintaining books of accounts as per incometax law but assessee maintain books of accounts for other law like vat servicetax and bank pourpose the profit shown in it return as per book maintain by other law can it department can object and refuse to grant benifit u/s 44 ad due to maintain books for other law kindly solve my querry

  141. kalpesh patel says:


  142. S HARI KRISHNA says:

    Dear Sir/Madam,

    Sub: Request to notify the e-return changes in advance and extend due date

    We would like to compliment the Income Tax Department for introducing e-filing of 3CD report and other e-initiatives. However, we would like to bring to your kind attention the difficulties being faced by us while e-filing due to the constant changes in the Department e-return software without any prior notice. We will come to know of the changes only when we get an error message as ‘Invalid xml’ while uploading the returns. As we take the consent of assessees’ and keep ready the returns to file, it creates a lot of problems to re-prepare the returns as per the latest schema.
    At this juncture, we would like to bring to your notice the practice followed by NSDL in the case of e TDS returns. NSDL notifies the new schema in their website at least 7 to 30 days in advance before blocking the acceptance of TDS e-returns prepared in old format. If this best practice is followed by the Income Tax e-filing website also, then it will surely avoid the difficulties which we are facing now.
    As per the new 3CD e-filing procedure, we need take up the following actions for each Assessees;

     Digital signature of Assessees and CA has to be obtained
     Digital signatures have to be registered in IT Dept. website
     CA registration in IT Dept. website
     Registered CA has to be added in Assessees’ list of CAs
     Preparation of Tax audit report
     Audited financial accounts have to be signed and scanned for uploading
     Valid e-report has to be uploaded
     Work list approval by the Assessee
    Therefore, e-fling requires a lot of attention and it is time consuming. Therefore, in case of any further changes in your e-return software kindly provide reasonable time-gap before blocking the acceptance of e-returns prepared in old format.

    As this is the first year of implementation of 3CD e-return, we are facing a lot of hardship and difficulties. We are under tremendous pressure to do and re-do the same thing due to changes in the schema. Due to frequent changes in schema and additional workload, we are unable to complete our audits within the due date. By your order dated 26-Sept-13, the due date for filing e-report is extended. However, due date to complete the audit has not been extended. Under the circumstances, we request you to extend the due date of filing returns for the Assessment Year 2013-14 by two months.

    Please look into this matter and take positive action at the earliest.

  143. kalpeshpatelilling says:

    my assessee are doing business and their turnover is below 1 crore for a.y.2013-14 and their profit is more than 8% we are fleling their return as per u/s 44ad and not maintaining books of accounts as per incometax law but assessee maintain books of accounts for other law like vat servicetax and bank pourpose the profit shown in it return as per book maintain by other law can it department can object and refuse to grant benifit u/s 44 ad due to maintain books for other law kindly solve my querry

  144. Sethuram says:

    if the Apartment Residents Welfare Association does not adopt Bye Laws and also not registered Can the Owner–member refuse to accept the decisions taken by such Association in their meetings.

  145. RS Bhatnagar says:

    I am a retired Defence Service officer.I watch your program”TAX GURU”regularly.It is very informative and educative.I convey my ‘BIG THANKS’to you for the same.
    2. I wish to seek your kind advice on the following tax-related issue.
    3.My daughter,who is a major by age,is staying in U.S.A. and has now become a citizen of U.S.A. She has a Savings Bank Account jointly with her mother ,in State Bank Of India at JODHPUR,in which she is the ‘FIRST ACCOUNT HOLDER’
    4.Out of my savings,I deposit some money regularly in her this Account as ‘GIFT’to her. As I understand,on the Principal Amounts of GIFT, NO income tax is to be paid but it’s interest income is taxable.Kindly advise:-
    (a) if Incometax is required to be paid here in INDIA on the entire amount of Interest earned
    Interest income upto Rupees Two Lakh will be Tax-free, as Basic Tax Exemption Limit and Income Tax will be
    Required to bepaid on amount above Rs Two Lakh and for which FORM-15 G can be submitted to the Bank
    (b) Also,can the Tax-exemption on initial Rs.10,000/= of Interest earned on Savings Bank Account can be availed/
    Claimed under Section 80TTA.
    Yours sincerely
    WG CDR R.S. Bhatnagar

  146. RP. says:

    Dear Sir,

    we M/S. ABC P.LTD.- HARYANA received material from m/s. XYZ LTD. – RAJASTHAN for processing /job work without cst/vat. we have processed the goods and return to m/s. XYZ LTD.RAJASTHAN without cst/vat charges.
    in this condition who will issue FORM – F

    1. WE ABC P LTD. HR.
    3. BOTH

    Thanking you,


    For abc p ltd.

  147. harishankar rawal says:

    what if one surrender the PAN on which tax credits and paper income tax return have been submitted.whether tax credits on surrendered PAN will be transferred to new PAN by IT Deppt.and similarly the ITR1. Pl.clear my doubts.

  148. harishankar rawal says:

    Respected Sir,
    I have requested several times through email to IT Deptt.concerned cell to send my password of PAN Card. I got reply that password has been sent to your registered email ID. I don’t recall that This PAN is registered by me. Had it been registered by me the activation code and link would have been sent to my mobile and email ID.Sir, have only on mobile N0.from 2005 till date and only one email.ID from 2007.
    I want to Re-register the PAN for e-filling.Pl.suggest the way out to this problem.

  149. TUSHAR says:

    Respected Sir,

    Are there any chances of extending the due date for filing the income tax return for Assessment Year 2013-14 who are liable for audit. As the procedure has became time consuming

  150. Piyush Kumar says:

    Respected Sir,
    Assessment Year 2013-14, I have not received form No 16 from the present employer, but I received the salary certificate by the present employer. but my question is if I fill the ITR 1 as per the salary certificate and when I go to the TDS sheet than what I will in the BSR Code & challan No
    Please Help Me
    Piyush Kumar

  151. SUDARSHAN says:

    Ledger- 1 Unsecured loans- XYZ ( Individual ) for the year 2012-2013
    Date Particulars Amont Date Particulars Amount
    31.3.2013 To Balance c/d 500000.00 01.04.2012 By Balance b/d 500000.00

    Total Rs: 500000.00 Total Rs: 500000.00

    Ledger -2 Interest paid A/c- Indirect Exp- 2012-2013
    Date Particulars Amont Date Particulars Amount
    30.04.2012 To Cash ( Being Interest paid to XYZ ) 5,000.00 31.03.2013 By Transfer to P & L A/c 60,000.00
    31.05.2012 ” ” 5,000.00
    30.06.2012 ” ” 5,000.00
    31.07.2012 ” ” 5,000.00
    31.08.2012 ” ” 5,000.00
    30.09.2012 ” ” 5,000.00
    31.10.2012 ” ” 5,000.00
    30.11.2012 ” ” 5,000.00
    31.12.2012 ” ” 5,000.00
    31.01.2013 ” ” 5,000.00
    28.02.2013 ” ” 5,000.00
    31.03.2013 ” ” 5,000.00
    Total Rs: 60,000.00 Total Rs: 60,000.00

    Note 1 Ledger -1 is Loan Account where there are no transactions during the year and only opening balance is being again carried
    forwared as closing balance of Loans at the year end and interest on same is paid seperately through Interst paid account

    Note 2 Ledger -2 is Interest paid account for the above ledger 1 unsecured loans

    Queries Following Questions need to be answered Ans this with explanation for ans given
    (a) Does above two ledger accounts voilates provisions of section 269SS, 269T, or 40(a)(3) or any other provisons of Income tax Act ? (a)
    (b) Assessee being a trader following mercantile method of accounting does he voilated mercantile method of accounting ? (b)
    ( C ) Is this nesseary to Credit interest to Loan Account instead of debiting same to Interest paid account in profit and loss account ? ( C )
    ( d ) Is Cash payment of interest ( Rs 5000 one entry ) , in nominal account is bared by any provision of the income tax act ? ( d )
    (e) Does it makes any difference if instead of Interest paid and unsecured loans, these are Interest received and Loans and Advances ( Assets ) Accounts ? (e)
    (f) Will any reporting requirement will arise for above while doing 44AB Audit ? (f)

  152. S PRAKASH says:

    NO.12/1, 9TH CROSS, S.S.PURM, TUMKUR-572102.
    PHONE: 0816-2275959, 9141736080.
    Hon’ble Finance Minister,
    Govt. of India, North Block,
    NEW DELHI-110001.
    Hon’ble Sir,
    Sub: Return filing for Asst. Year 2013-14 under section 44AB
    And problem of wrong adjustment made by CPC- Reg
    -0- We are sorry to note that the department has not following the direction so the Hon’Delhi High Court in rectifying the mistakes and wrong adjustments made by the CPC without following any procedures laid down under the Income Tax Act itself. The local jurisdictional income tax officers are not caring for even genuine problems of the assesses whenever the returns are e-filed and many officers are advising us to file the hard copy and not to use the e-filing facility to reduce the problems of the CPC and to get the rectifications done on a faster mode. Just to get the rectification done by the CPC one has to follow un-necessary procedures and correspondence and e-filing of the rectification application etc., which an ordinary assessee cannot follow all these and the department can easily eat the fruits of its wrong things without any natural justice. The Board is not taking any hard steps for easy and early rectifications and in between the assessee and representatives are suffering because of this. The Board knows very well that the returns of income for the assessment year 2013-14 will be filed after 1/04/2013,but every year it will not notify the forms and the e-filing facility will not be opened will June or July and it is practical experience of all who are depending on e-filing facility. Now a days the Banks and other financial institutions will ask for the copy of the IIR V and one has to answer that the department has not started accepting the returns for 2013-14.Is it not a shame on part of the department?
    The amendment to 44AB and raising the limit to One Crore has not effected on the small assessee as due to strict introduction of the VAT by all the State Governments the turnover of even a small of the smallest trader has increased because of input tax mechanism, and the Central Government knows it very well and under the circumstances the limit for 44AB would have been kept at 5 Crore and individual assessee should be kept out of the preview of the 44AB. The Central Government is thinking of introducing GST and if the same happens the turnover of all the traders will increase by two fold. This fact should be kept in mind before fixing the 44AB audit turnover limits. The law of 44AB is like “law without justice”. Lewis Carroll in Alice in Wonderland says : “ ‘I’ll be judge, I’ll be jury said cunning old Fury I’ll try the whole cause, and condemn you to death”
    The history of the 44AB audit has shown that the same has not resulted in any quality increase in the collection of the revenue nor has deducted any huge block money or irregularities of the assessee nor has reduced the work of the department. Even where the 44AB audit has been done by a CA the Department has disallowed the climes of the assessee while passing order u/s 143(3).Even it has not helped the department to increase the tax base and it remains at the same level as expressed by the Hon’Finance Minister in the Parliament itself. This is because of the complexity in tax laws in the name of simplicity. Here we have to quote Sri Nani A Palkhivala from his preface to the Eight Edition of Income Tax, By, Kanga and Palkhivala:
    “Today the Income Tax Act 1961 is a national disgrace. There is no other instance in Indian jurisprudence of an Act mutilated by more than 3300 amendments in less than thirty years. Simple provisions like Section 11 to 13 (which deals with exemption of the income of charitable trusts) have suffered no less than fifty amendments.
    The tragedy of India is the tragedy of waste-waste of national time, energy and manpower. Tens of millions of man-hours, crammed with intelligence & knowledge of tax-gatherers, taxpayers and tax advisers- are squandered every year in grappling with the torrential spate of mindless amendments. The feverish activity achieves no more good than a fever.
    Our law reports bear witness to the fact that generally a case reaches hearing in the High Court in twenty years and in the Supreme Court in thirty years, after the relevant assessment year. The situation is continuously aggravated by the deluge of new amendments – the indigestible verbiage; and the flood of litigation is heavier today than ever before”
    In the same book mentioning about the object of tax policy:-
    “Two things strike the student of Indian income-tax with trepidation and amazement- the precipitate and chronic tinkering with the law by bureaucrats who are the unacknowledged legislators of India, and the anaesthetized patience of the Indian public .Truly, we Indians area “low arousal” people. We endure injustice and unfairness with feudalistic servility and fatalistic resignation. The poor of India endure inhuman conditions which would lead to a bloody resolution in any other country. The rich endure foolish laws and maddening amendments which benefit none circumvent the law than to fight for its repeal.
    Taxes are the lifeblood of any government, but it cannot b e over emphasized that the blood is taken from the arteries of the taxpayers and therefore, the transfusion has to be accomplished in accordance with the principles of justice and fair play.
    Every government has a right to levy taxes. But no government has the right in the process of extracting tax, to cause misery and harassment to the tax payer and the gnawing feeling that he is made the victim of palpable injustice”.
    If we see the present tax policies and the working of the CPC and the administration of TDS and TCS shows how carelessly the tax policies are framed and administered by the Government.
    Specially in Karnataka this year the availability of CA’s for the 44AB audit is doubtful as the Department of Co-Op Audit has allotted all the audit work of the co-operative societies to the CA’s and most of them have been allotted more than 50 to 65 societies and the limit for the audit as fixed by the ICAI is only 40.Under the circumstances the Board should think now itself to reconsider the limit of 44AB audit or it should be made applicable only for Corporate Sector and keeping away the individual assessees from the ambit of 44AB audit. To know more details about this kindly logon to http://www.sahakaradarpana.kar.nic.in and link http://sahakaradarpana.kar.nic.in/ca/CAPanelOrder.aspx where you can see for yourself that how the limit for 44AB audit will work out for the assessment year 2013-14. The voluntary compliance of returns will come down if these restrictions are put for filing the returns of income. The tax collection process should be smooth.
    We request the Finance Minister to consider the facts and circumstances under which we are requesting for the amendment to 44AB or increasing the limits of the 44AB or restrict the 44AB to the corporate sector or where the public money is involved. And further we would like to remind your good self “What is the argument on the other side? Only this that no case has been found in which it has been done before. That argument does not appeal to me in the least. If we never do anything which has not been done before, we shall never get anywhere. The law will stand still whilst the rest of the world goes on; and that will be bad for both” (Denning L.J).
    Thanking you sir,
    Yours faithfully,
    For Tumkur Dist., Tax Bar Association (Reg.,)
    Copy With Respects to:-
    1. The Chairman,
    Central Board of Direct Taxes,
    North Block, New Delhi-110001.
    2. Ms.Rita Dogra,
    Under Secretary to Govt. of India,
    Ministry of Corporate Affairs,
    Shastri Bhawan,
    “A” Wing, 5th Floor,
    Dr.Rajendra Prasad Road,
    New Delhi-110001.
    3. Shri.Rajesh Kumar Bhoot,
    Director (TPL-III),
    Central Board of Direct Taxes,
    North Block, New Delhi-110001.

  153. b c jain says:

    1. In many case , the matters before the Hon’ble ITAT are restored to the files of Commissioner of Income Tax [Appeal] Such matters are not taken up for hearing for years together by the concerned CIT[A] . The law does not permit to direct the CIT[A] to take up the matter restored to him in reasonable time and matters remain pending for long. It is appreciated that when very complicated legal issues are involved, the ld CIT[A] may take time to study the legal / factual position , but the hearing of the case must be taken in reasonable time by the ld CIT[A] . Even the rewritten communications to CIT[A] for early fixation of the appeal fail to bring any result . The writ in court of law is expensive exercise and not possible to be taken up by all persons . Is there any remedial measures ? whether approach to CCIT or CBDT useful ? Even these authorities are not permitted in law to direct the ld CIT{A} for deciding the appeals within time frame . Any other suggestion / guidance shall be appreciated.

    2. Where appeal filing fees to ITAT is paid in excess of the required amount of fees payable , how the excess amount is to be claimed back ? The registry office suggests that only the assessing officer is entitled to grant refund. The assessing officer advises such collections are not reflected in his Demand / collection register > suggestion / guidance for claiming the refund shall be appreciated.

  154. HEMA WAGH says:

    respected sir
    I want to know about to file e-tds for salary whether the employees tds deducected by two different employer within one financial year 2012-2013.

  155. Jitender arora says:

    Dear sir,

    Please tell me, will reverse mechanism rule apply on CO-operative Societies. i means in Milk sector … Because in this rule nowhere is written about .. co operative societies

  156. Rakesh says:

    I am business men.my gross turnover is 25 Lacks. & my net profit 5%. what,am i liable for income tax audit u/s 44AB? Plz, reply

  157. Venkatakrishnan says:

    Self is working in construction company & we are shifting mtrl from store to various location where the work is under process. My question is whethear TDS is applicable for transporter, which is enaged on trip basis,also note transporter have provided PAN card to us.

    Requesting your kind reply.

  158. SHYAMAL ROY says:

    which % amount have to be deposited for an INCOME TAX appeAL

  159. karthikeyan says:

    One of my customers etds efiling made as nil return for 26Q4 initially. Now they like to make some corrections in the same quarter file. how can I download “conso file ” from tdscpc.gov.in site. Anyone help me in this regard. please.

    95855 24309

  160. rakesh says:

    dear sir,
    in the year 1982 i purchased a site in name of my mother and elder mother worth 2100000/- and on this day i have sold the same land for 2cr odd,which is divided in 2 parts. now i want to know what will be the capital gain for this. and what kind of property should i buy i,e; a resident site or a commercial site.

    kindly suggest,

    thanking you

  161. Mohit says:

    Exercise 1: Point of Taxation – Intellectual Property Services – Rule 8
    (a) Nilgiris, one of the leading departmental stores in Southern India, has permitted the use of its brand name against a fixed royalty of Rs.10 Lakhs per month. The invoice for the period ended 31.01.2011 for Rs.10 Lakhs is raised on 12.02.2011. Payment is received on 15.02.2011. Determine the POT.
    (b) What will be the POT if the invoice was raised on 17.03.2011.
    (c) What will be the POT if the agreement terms contained an income of 5% of sales made every year. The Invoice for this income is raised on 15.03.2011 which is paid on 17.03.2011.

    Exercise 2: Change in Effective Rate of Tax
    (a) M/s Saravana Bavan has been roped in by M/s ICAI for providing food during the CPE meeting. The Firm provided the service for the CPE meeting on 12.03.2012 on which date the ST rate is 10%. However, the invoice for the same is raised for Rs.1,00,000 (inclusive of ST) on 23.03.2012 on which the date the ST rate is 12%. Determine the rate applicable. (Note: Payment is received on 15.03.2012)
    (b) What would be your conclusion if the invoice is raised only on 15.04.2012.
    (c) M/s Glow Ltd, an Event Management Company arranges cultural events for M/s Infosys Ltd. However, the company received an advance of Rs.5,00,000 from Infosys on 15.03.2012 for arranging the show on 15.04.2012. The Invoice for the same is raised on 15.04.2012. ST Rate was increased from 10% to 12% on 17.03.2012

    Exercise 3: Relevant Date for Taxable Value
    (a) M/s Green Trends Pvt Ltd decided on 01.02.2013 that as a special offer for its members, the charges for hairdressing shall be reduced from Rs.150 to Rs.100 with retrospective effect from 01.12.2012. However, during the period between 01.12.2012 to 31.01.2012, the Company has carried out 500 hairdressings with Invoice and Payment being received on the same day. Determine the taxable value of such service.

    Exercise 4: Relevant Date for Exchange Rate
    M/s Standard and Poor’s issues a monthly insight on the global markets, mainly focusing on international commodity markets. M/s B Ltd, accessed such report online by paying the monthly subscription charges of USD 1,500 per month. The Company paid USD 1,500 p.m. on 25.04.2012 for the period 01.05.12 to 31.12.12. The Exchange rates were (a) Rate notified on 25.03.12 by CBEC for bill of entries to be filed in April 2012 – Rs.52, (b) RBI Rate on 25.04.2012 – Rs.54, (c) Actual rate of settlement – Rs.55.

    Exercise 5: Exemptions to Transport of passengers
    M/s Transporters Ltd carried out the following activities during the FY 2011 – 12:
    Nature of Service Rs.
    (a) Radio taxis for customers in Delhi 10 Lakhs
    (b) It operates a fleet of air planes (both domestic and international). Domestic Transport tickets 99 Lakhs
    (c) Vehicles let out on hire to B Ltd for carrying its employees 2 Lakhs
    (d) Transport of passengers from Chennai to Bangalore, with 3 or 4 stops in between 15 Lakhs
    (e) Charges for accompanied bags charged from the above passengers 1 Lakh
    (f) Vessels between the Chennai Port and Port Blair for public transportation of passengers 15 Lakhs
    (g) Operation of cruise ships 30 Lakhs
    (h) International Transport from India to other countries 75 Lakhs
    (i) Domestic transport of passengers from Assam to Chennai by road 5 Lakhs

    Exercise 6: Classification
    (a) Mr.A, a Chartered Accountant, verified the books of accounts of Mr.B. What is the nature of this service –
    (b) DLF property developers has conceptualized, designed and developed a residential complex for the employees of Central Government. The company carried out the entire activities from start to finish.
    During the course of service, the company employed an architect for design and an interior decorator for furnishing the complex. However, a separate fees is not negotiated for such services and are hence included in overall price negotiated. Determine the classification.

    (c) M/s Taj Hotels Ltd provides a package for 7 days hotel accommodation inclusive of food. How should such service be classified?

    (d) M/s India Airlines is engaged in transportation of passengers from one place to another. However, the company also supplies food during transportation. The airlines raise a single consolidated bill for such service. How to classify such service?

    (e) Boarding Schools provide education and also dwelling for the students. Explain the classification.

    (f) M/s Fitness One services provides fitness services. However, as part of its services, it also provides Ayurveda and Meditation as a therapy during the course of fitness services. Explain.
    (g) M/s A Ltd is engaged in providing computer training to an Educational Institution to train the faculties. The Company roped in Mr.A, who is computer professional and a leading faculty for training the students and consideration is Rs.15 Lakhs. Whether Mr.A is liable for service tax.

    Exercise 7:
    (a) M/s Shaadi.Com, which is an online matrimony service, charged Rs.20,000 from its customers. However, it did not charge any service tax as it thought that its services are exempt from service tax since it is related to religious activity. Later it came to know the activity is chargeable to tax @ 12.36%. Determine taxable value and service tax.

    (b) M/s A Ltd charged Rs.10,10,300 inclusive of service tax @ 10.3%. However, the correct rate of service tax was 12.36%. Determine the Taxable Value and Tax liability.

    Service Tax Procedures
    Exercise 8: Payment by cheque
    The due date for payment of ST is on 05.06.2012. The Assessee drew a cheque dated 04.06.2012 and remitted into the ST department on 05.06.2012. But the cheque got cleared only on 10.06.2012. Is the assessee liable for interest?

    Exercise 9: Non–Payment of Service Tax
    (a) S Ltd. provides Management Consultancy Services that are subject to service tax. In respect of the services rendered during the month of December, 2011 the service tax of Rs.1 lakh was remitted to Government treasury on January 20, 2012. Arrive at the penalty u/s 76 of the Finance Act, 1994.
    (b) Also calculate the interest payable in the above case.
    (c) Determine the penalty if the true and additional disclosures are available in the records.

    Exercise 9: Payment of Excess Service Tax
    (a) M/s Z Ltd provided services to M/s A Ltd for a consideration of Rs.30 Lakhs + 12.36% on 15.03.2012. However, M/s A Ltd paid Rs.24 Lakhs + 12.36% to M/s Z Ltd on 17.06.2012. M/s Z Ltd accepted the same as a final consideration in full satisfaction of the claims, as there was deficiency of service. Z Ltd wrote off the balance amount from its books on 18.07.2012 Determine implications of this situation.
    (b) What would be your answer if the payment is reduced because of insolvency of M/s Z Ltd.

    Exercise 37: Collection of Excess Service Tax
    M/s Apollo Hospitals Ltd charged service tax of Rs.2 Lakhs on its medical services rendered to an individual on 15.10.2012. However, the company came to know later that medical services are not liable for service tax. Advice the Service Provider.

  162. Raju says:


    Can i take benefit of Housing Loan from parents + Loss on the same property which is rented out.

    For e.g I take home loan from parents of RS 10,000,00
    Monthly EMI towards Loan 12,500 (150000 Annually)

    Rent from property 3000 PM (36000 Annually)
    Municipality tax and other expenses(roughly 15000)

    Loss on property 36000-15000-150000 = -129000

    Is it possible to claim both 150,000 (interest paid to parents)
    + 129000 loss on property

    If either of one is possible
    what sort of document is required to show housing loan from parent

    I.e. how to show money borrowed from parents. should cheque be given to builder from parents account(similar to bank)
    Money should be transferred to my account and then give a cheque to builder.

  163. Raju says:


    Can I take benefit of Housing Loan on property from parents + Loss on the same property which is rented out


    For e.g. I take home loan from parents of RS 10,000,00
    Monthly EMI towards Loan 12,500 (150000 Annually)

    Rent from property 3000 PM (36000 Annually)
    Municipality tax and other expenses(roughly 15000)

    Loss on property 36000-15000-150000 = -129000

    Is it possible to claim both 150,000 (interest paid to parents)
    + 129000 loss on property

  164. Darshan says:

    sir, My Client is Reg: Under Sec 15 COT, Shoe and Slipper Dealer, having Not turnover exceeding Rs 20 lac PA, Recently VAT Officer i.e.. CTO visited and inspected Stocks and Asked us to file a Trading Account(TA) as on date of Inspection, the Same was prepared by our accountant and filed, Further the closing Stock as per TA was 635000, and Physical Stock were Worth Rs 840000, ther Officer Proposes that v have made URD Purchase and should have paid the Input Tax On Purchase Made from URD, hence by suppressing the purchases have made offense Punishable, further v r asked to Pay Tax At Rate of 14.5% on stock in excess found and penalty in addition, but we have recorded all sale n Pur n have never skipped any entry. the profits may very on every such sale and on many purchase made under Discount Schemes from suppliers hence the Profits margin was not confirmed to arrive at correct closing stocks. and if the stock were found less the officer would propose suppression of sale Notice. any way tax payers shall be penalized on trap Account. Please state what to appeal. what are the substantial Question of Law.

  165. Manan Shah says:

    I had purchased property on 17th April 2008 for 53,50,000/- with home loan of Rs.30,00,000/-, in joint names of my & my brother,

    We repaid full home loan in February 2013, & also will be selling the flat in March 2013 for 1,50,00,000/-

    What will be capital gain tax,

    The amount paid as interest on home loan will it be calculated in my income & not allowed as deductions for capital gain tax ?

    Please reply as soon as possible & help us in understanding the tax liability ,


  166. naveen says:

    i have sold a property on 15th Feb 2013 for rupees 40 lac possession of property given. the said property is a residential house came from will of my grand mother which was originally bought for rupees 50000/-, construction done for five lac in 1985. the sale proceed are rupees 25 lac received on 15th feb2013 and i have also paid for registry charges which was 2,50,000 thousand rupees mentioned in registered sale deed. rupees fifteen lac received via pdc for 5 lac on 15th April 2015 and 10 lac on 15th Nov 2015 mentioned in registered sale deed.

    when will capital gain arise and at what amount?

  167. Venkatakrishnan says:

    Why Admission Fees is not eligible for tax exemption while claim tuition fees? Also spouse eduction fee is not eligible for tax exemption? please expalin

  168. kunal says:

    what is taxability if license purchase from outside india for use of company only not for sale and payment made for training provided related to software purchase

    what is tax effect
    service tax, vat, excise, Tds,
    who is liable to pay above taxes at ti,e of purchase of license and at time of training provided.

    if u have any article for above then send me.

  169. PRIYANKA says:

    please help.

    Facts: if a person has received pension of Rs. 100000 , say in A.Y. 2007-08 , and offered the same for taxation . However , due to revision in the Govt. policies he had returned the same pension along with interest (100000 +10000) to get enhanced compensation in terms of new guidelines announced by the govt.
    QUERRY: Wheteher the amount reimbursed to the govt. in this year i.e. A.Y. 2013-14
    a. will be adjusted against any other income and if yes, then in which A.Y.
    b.which sections are relevant

  170. neetesh says:

    is there any circular regarding nps, whether 10% of salary includes in gross salary for the income statement or not. please help

  171. shyam gupta says:

    WE HAVE PURCHASE HOUSE IN MAY-2011 NOW I WANT TO SOLD & Buy New House at other location

    Pls guide us about tax

  172. V.NARAYANAN says:

    I am working in state public sector corporation and they are paying gratuity under payment of gratuity act. as per act there was no maximum number of service, where as some persons told that maximum number of service was only 33 years. If i put 37 years, kindly inform me whether 33 years or 37 years will be taken as per gratuity act


  173. harshul sharma says:

    can i get the reply of all queries asked above…….
    please e-mail me…. this is will be helpful for me….

  174. harshul sharma says:

    @sonal only amount collected over and above 10,00,000 Rs. is liable for service tax. however if u hv collected before that u are required to submit the same.

  175. shivanand says:

    Consultanion in Bangalore

    We are are services providers in Bangalore,
    We provide services on VAT,Service tax ,Excise and Customs, Foreign trades (DGFT), local licences (BBMP,Food,etc) PF, salary processing, and other allied labour Act including Imports and exports , insurance matters.
    we are providing our services to small, medium & large scale companies as per law of land .We too familier with ESI Act, salary processing, Minimum Wages Act, Labour Welfare Act, Bonus and Gratuity Act etc.
    Please send valuable queries on mail at – shivanand.tandsi@gmail.com

  176. HARISH AERY says:

    I would like to send articles on Income tax, Pb.VAT & CST Acts. I am a regular reader of Tax.guru but I don,t find information of Pb VAT Act. So will be my special field. If this is ok then send me confirmation.

  177. DEVRAJ says:

    i purchased a resi house under cons in march 2010 and sae agreement made in march 2010.possesion will in april 2013.if i sale in april2013 it will be LTCG. IF I REINVESTin resi housee iwlll be able to get benefit

  178. naveen kumar rana says:

    with your reference CMPQ 7569679, I had received refund cheque which I returned to Mumbai SBI due to mentioned wrong account no. SBI Mumbai confirmed me for received all document . as well as CPC Bengaluru also confirmed me they have received all document dt on 15 Nov12.

  179. pundalik kadam says:

    Dear Sir
    i purchased Row house from builder which agrrement to sale made in dated 22.04.2011 of value 10.28 lac, builder demanding on possession now 5%, what will i do ?

  180. ANANTRAMAN says:

    While I have received assessment and refund for AY 2011-12 and 2012-13, the refund for the earlier period AY 2010-11 for which the return was filed on 30-06-2010 has still not been received. May I expect some help please.









  183. Bhavesh Shah says:

    i want to know whether Diamond industry (cut and polished diamond business) is termed as manufacturing activity for additional depreciation @ 20%??? (Kindly give reply in the light of Supreme Court Decision Gem Star – 2001)

  184. charee says:

    Dear Sirs I want to know about the applicability or otherwise of TDS on the interest earned by STATE GOVT TRANSPORT EMPLOYEES PROVIDENT FUND TRUST on the Deposits made by the Trust with Nationalised Banks. They claim that they need not pay any TDS on the amount of interest earned by them out of the Deposits.How to verify whether they are actually exempted from paying TDS? .Any blanket permission is given by IT Dept.?To whom to contact/consult in this regard? Are Govt Transport employees provident fund trust are exempted fully ie even there total income itself exempted from IT? Kindly give a detailed reply in this matter at the earliest.

  185. S.K.Kapoor says:

    What is tax liability of a person of Indian origin who acquires Nationality of another country but has income from bank deposits or real estate income & dividends?
    Bank has changed his saving account to NRO account and started deducting TDS at 30.1%
    Can he file online return and get refund, as his income in India will be below INR 100000/=?

  186. Kamal Kumar says:

    I am a registered dealer in Punjab, i purchased a material from Maharashtra, but after six months it was found that material is not usable the Maharashtra dealer charted Excise Duty and CST, and I have supplied him “C” Form. I have send back the goods on my invoice charging same excise duty and CST, whether CST is applicable on purchase return also or not ? pls suggest

    1. VINAY AHUJA says:

      If the goods are return within 6 months then CST is not chargeable

  187. Sagar says:

    I want to know that, Can it necessary to J1 & J2 list with form 231 for sex monthly return, if my business in not in TAX AUDIT & VAT AUDIT

    1. VINAY AHUJA says:

      Sagarji Now it is compulsory for all the dealer to file Annexure J-1 and J-2 along with form 231

  188. Ashok Sarvaiya says:

    We have taken service tax No. since last 4 to 5 Years under Business Auxilliary Services. And we are paying service tax Regularly. In 2010-11 our turn over was 15 Lakhs & 2011-12 our turn over was 8.5 lakhs, we have collected and paid the service tax there on. Now we would like to know if in current year i.e 2012-13 our turn over may be below 10 lakhs and we are not going to collect Service Tax. So we would like to know whether Service Tax is chargeable or not ? And if our turnover may be more than 10 lakhs so we will exemption limit for 10 Lakns, and on balance we will pay the service tax. Kindly clarify the same & oblige

  189. manish mehrotra says:

    sir i have an advt agency and i do advertisement for my client on indian railway trains and on government state buses….i would like to know that space selling for advertisement on train and buses is exempted from service tax or is ST payable…..pls let me know…thanks

  190. RAGHAVENDRA B K says:

    please send me daily updates new/ matter

  191. michael dcosta says:

    sub brokerage / commission for real estate received prior to 1/7/2011 . would like to know whether service tax applicable. original broker has paid service tax
    please advice

  192. Manish says:

    Hi there,

    Please allow me bring your attention that my pan no is ATFPK3635D and I took someone’s help to create my account and he also processed my tax filing. Now he is not reachable and I cannot access my account because on resetting password it is sending password to his id and I cannot use other option because I don’t know secret question. I don’t have any idea why it is sending my password to his mail while I got acknowledgement mails from CPC on my mail it means they have my id in their records.

    Please help me out right now I am just feeling very helpless because I cannot create another account because my pan no is already in their records. my email id is manish2aug@gmail.com


  193. Sourabh says:


    I just took a home on rent of Rs. 19000 per month, but my landlord is refusing to give his pan no. as he is saying my ca has refuse me to give pan no., I tried a lot to make him understand that I require that to claim hra in my salary but is not trying to get it, what should i do

  194. Sonal says:


    I have one querry. If newly started service provider company crosses its exemption limit of Rs. 1000000 during their first financial year. Whether the company is liable to pay tax on first 10 lacs

  195. miral says:

    octroi amount can be include in turnover




  197. Suresh says:

    11-9-2012 10.00am.

    My wife is a Singapore citizen and resides in Singapore since last fifty years, visiting India once a year, at most for 15days. Years passby without going to India.

    She has inherited ancesteral property in India, and sold all the properties realising losses(due to indexing calculations as the properties were inherited in 1971) in most of them except one, which leads to the question tht I am asking answers to.

    1.She has been assessed in Singapore from the time she became Singapore Citizen in 1980/81. She has been a housewife and had no income and as advised by the government, people with no income need not file returns, and she stopped filing from the time of the announcement.

    2. When she sold the properties in India 2009,2010,2011 she filed returns in India(has Indian residence address but as above stated doesnt visit India and when she does is not more than a fortnight in any one year) and none in Singapore as propeprty sales resulted in Lossess (no income)

    3. The last property sold in 2012 (Sale Deed registered in August 2012) resulted in substantial profit.

    4. Being a Singapore citizen, no tax is payable on Long Term Capital Gains in Singapore. When approach was made to Singapore Tax authorities , was advised as there is no Capital Gains tax in Singapore, she need not file any return.

    5. The properties being in India, attract Indian Tax on Long term Capital Gains 20% Tax. Sale proceeds have been remitted from India to Singapore through Banks and applications as required by the Reserve Bank India were submitted to the remitting bank who than remitted the proceeds. (Form and application for remittance under U/S 195 of the Income tax act –Annexure A, B Certificate, Form A2, Purpose of remittance form etc as required were submitted.

    6.Now the returns have to be filed in July/August 2013, and the question of advance tax/deduction arises.

    7.MY QUESTION IS, Is she liable for Indian Tax as a Singaproe citizen not residing in India for more than 15days in any given year. Singapore authorities say that as there is no Capital Gains Tax in Singapore, there can be no claim or set off or even the necessity of filing return in Singapore.

    Please give clarity and advise.


  198. devaki says:

    sir wat about expenses,tax treatment if partnership firm converts into pvt limited company
    .how may returns have to be filed?
    is the
    new pvt limited co., have a chance to consider expenses of partnership firm?

  199. Mukesh says:

    Dear Sir/Madam

    In Service tax negative list, there is an item of agriculture wherein loading,unloading packing storage or warehousing .I want to know if we provide services like wheat,sugar loading & unloading in port area will it be exempt or taxable? I mean, negative list is applicable on agriculture product loading & unloading port area Please help me.

  200. Ajay says:

    I need to contact the authors of one of the articles. How does one go about that.

  201. Dhilip says:

    I have submitted my Income Tax Return and form 16 to Income Tax Office Tambaram. Acknowledgement Receipt Number: 114523, Date: 04-08-2010

    They have sent the refund to my old address, and the same is returned to the tambaram office on 09-01-2012. For this i have attached online statement.

    And then i have submitted a request letter with my current address proof to tambaram office on 27-03-2012. I waited for some time with no response from the income tax office.

    After that i have sent a complaint to IT Ombudsman on 21-05-2012, For this i got a reply from Ombudsman on 28-05-2012 stating that i have to make a complaint to Joint Commissioner of Income Tax, Tambaram.

    After that i have submitted a written complaint to Joint Commissioner of Income Tax, Salary Range, Ward I-(1) on 13th of June 2012.

    Waited for a month with no response or reply or TDS refund, So Again i wrote a complaint to IT Ombudsman requesting for TDS refund.

    Answers i would like to know from you now

    1. Will the Ombudsman take my case this time, is there any chance to reject my complaint now, since i have approached him for the same reason before.

    2. If he rejects what should i do next?

    3. In my last letter to Ombudsman i didn’t mentioned that i need refund amount with interest. Will they send the refund with interest? If yes, then at what rate of Interest?

    4. I have mentioned that refund it directly to my account, and also provided my account details, can they send it directly to my account or not?

    Thanks in advance, i would like to know answers, please reply.

  202. PRADEEP says:

    Dear Sir, your articals are very helpful for me, I am filling my return for financial year 2011-12
     here i want to know one thing that in challan 280 I have ticked on regular assessment tax instead of filling self assessment tax , then Income tax department will consider it right or wrong type of payment. or what penalties will appeared for doing this? or I would be able to fill my return or not.

    please solve my problem asap.


  203. Yudhishthira says:

    My wife is working as a contractual faculty in a college. They get monthly salary. The college has not given Form 16 to them and instead gave form 16A. The TDS (@10%)  has been deducted under section 194J . Can I fill ITR1 and claim refund on the tax deducted.

    1. BHUVNESH SINGH says:


  204. meenakshi sundaram says:

    We have paid service tax excess  to the tune of  Rs 2 lacs during May 2011. Under Sec 11B of Central excise Act we have to apply before one year.(Now it is almost 13 months)How to claim after one year ? What is the remedy ?

  205. rakesh shah says:

    i have a query pls help by clarifying

    if an assessee has paid 1 lac each in his own ppf account and in the ppf account of his two minor children (total 3 laks) and has claimed benefit of exemption under IT 80 c for his own account only i.e for 1 lac only
    Can post office deny interest in the accounts of his 2 minor chidlren

  206. James says:

    Title : 
    Is it possible to receive a huge amount from my foreign friend in my SBI bank a/c for real estate investment?

    Main Query:
    I am establishing partnership firm in India, it’s between me and my foreign friend who is Canadian citizen, we will deal in real estate in buying, selling, developing townships etc.
    In partnership firm, the taxes are 30% as we all know, remaining will be distributed among both of us.
    On the other hand, Because of trust factor and finding some investors for my foreign partner for their business we have reached to this level where my partner is even ready to transfer the amount in my personal bank account so no 30% taxes will be given in case if we buy property through my name using the money which w’d come in my personal account rather buying through firm name. We also know that foreigners can’t buy Property in India on their names so my partner is even ready if I buy property on my name. 
    So is it possible that i receive huge amount in my own SBI bank account so major properties can be buy using my name and rest in partnership firm name, at time of giving back the profit to my partner, i use my own bank account to transfer the funds to my partner so 30% taxes will be given only on those properties what w’d have been bought using firm name, 
    what documents can i show to the income tax department at time of receiving the huge amount from my partner and sending the profit money to my partner at the time of selling the properties?
    Can i show my partnership deed not only just for the prove of firm existence BUT also at the time of doing transaction from personal account, to prove we are genuine and doing these transactions for business purposes.
    Partnership deed has got all partnership clauses, also included my name, my partner name, Addresses and signature of both.
    Also, my real brother is NRI who is in Qatar (I am not NRI) who also has SBI NRI account, w’d it be ok to use his NRI account for receiving and sending money for my business transactions AND showing the same partnership deed which is on the stamp paper in case if i or my brother w’d be questioned, but problem is, NRI account belongs to my brother and partnership deed is between me and my foreign friend, Please suggest what to do?
    Looking forward to see reply, Thank you. 

    Email me at : avior1408@yahoo.com

  207. alpesh says:

    We are dealing in automatic and semi automatic packaging/strapping machines. we would like to know that what will be the import duty structure for HS code 84224000. Also can any one guide whether MRP based import duty will be applicable or else regular.

  208. Shashi Bhushan says:

    Dear Sir,
    I purchased a house registered on my wife name. But we have take housing loan on both names (self and wife’s name) . She is house wife and I am paying the EMI. Please let me know is there any way to claim the income tax benifit in this situation.

  209. SURENDER BISHT says:

    my client are submit the ITR a.y. 2009-10, and refund claim 160000/- approxment but his case are come in scrutiny and demand are Rs. 76645/- so we are letter in department this demand are dedected in our TDS refund amount but ITO are not dedect this amount .

  210. Prakash says:

    Can advantage of Excise notification No. 9/2003 can be taken recently? Please guide me, this is very important for me.

  211. ESI PF CONSULTANTS IN DELHI 99 10 427 437 says:

    Harish Kumar & Company (HKC) is an ESIC & PF consultancy services provider company. We provide services for ESIC, PF, salary processing, and other allied labour Act. Although HKC is located at Delhi, we do not have any limit for providing our services for the labour law compliance. HKC is a fastest growing consulting firm for PF Act , ESI Act, salary processing, Minimum Wages Act, Labour Welfare Act, Bonus and Gratuity Act etc.

  212. kuldip says:

    My emplyoer is paying Provident Fund on Gross salary instead of Basic. And now our CA says the diffrence between (Gross salary and Basic salary) is taxable. Please advise is this coreect on not if not please help to get the supoort so that I can show them and get relief from Tax burden.

  213. sankar says:

    Dear sir,
    I had constructed a house in chennai by taking loan from LIC and availing the tax benefits. I almost repaid the loan. Now i am planning to take a flat with second loan in hyderabad, where i am staying. Is it possible for me to claim the tax exemption benefits or not for the second one. The tax exemption i got from my first loan was very less, but in case of second loan, its huge, so is it possible to close the first loan & claim the second one exemptions or continue the both. Please revert for my query.

  214. hemant bahri says:

    i am regular read the articles & other case which are very help me for practising me. thanks to the the team members of tax guru.

  215. Ramakrishna says:

    Require the latest updates

  216. Mohit Ahuja says:

    please send me the latest updattions related to DT IDT & any news regarding govt. updations

  217. santosh says:

    I have losses of 50,000 this year, can i claim any tax benefit and under what section ? Pls help this isvery ugent

  218. Munna kumar singh says:

    here the tax related articles is really helpful for freshers like.  

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