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ASMI DOSHI

Category : Income t..,
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June 7, 2016 1:11 pm
  • Income tax
Hi, I am into small Beauty Parlor business in Andheri. it is first time i am paying tax, my all deals of income and expenditures are in cash only except FDR(Fixed deposit ) interest.If any query will come, what proofs I can keep ready to show? Thanks
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Amlan Dutta
For your income statement , you will need to make a Profit loss statement ...here profit means all income and loss means all expenses ...you should be in a position to justify by all bank entries all such income and expenses ( pertaining to the business ) ...best in your case , i feel you should us...
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  • June 8, 2016
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ASMI DOSHI
Again Thanks Amlan!! I filed my return on 29th june as per your guidence.
  • July 4, 2016
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Rajendran kanniyakumari

Category : TDS..,
Solved
June 6, 2016 7:24 am
  • TDS
sir, my friend is a govt.servant , his tax not deducted from salary , his only tax deducted from SBI savings question is. which column fill in the tax details wheather shc TDS -1 ( Sch TDS1 - Details of Tax Deducted at Source from SALARY [As per FORM 16 issued by Employer(s)] ...
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Amlan Dutta
Your question itself answers the doubt
The TDS is deducted on savings bank interest

Clearly therefore he cannot use schedule 1 which is for claiming tax credit for deducted salary TDS.
Therefore, clearly he will use schedule 2 which is for filling TDS on non salary ( in this case saving interest )


No...
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  • June 6, 2016
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Rajendran kanniyakumari
Thanks, sir.
  • June 7, 2016
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Rajendran kanniyakumari

Category : TDS..,
Solved
June 6, 2016 7:18 am
  • TDS
SIR , when we are fill ITR 1 FORM , in tax details income from other source
Sch TDS2 - Details of Tax Deducted at Source from Income OTHER THAN Salary [As per Form 16 A issued by Deductor(s)]
qusetion is
1.what is the meaning of ( Amount out of (5) claimed this year(6) )??
what figure i should fill...
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Amlan Dutta
Supposed TDS deducted is 100 rs on salary ,, what amount claimed means is how much TDS credit you wanna take of deducted TDS ...you can obviously claim any amount till 100 Rs but nothing more...

It is foolish to claim anything less also and therefore usually assesse claims full amount of TDS deducted...
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  • June 6, 2016
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Rajendran kanniyakumari
Thank you, sir
  • June 7, 2016
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Rajendran kanniyakumari

Category : BASICS O..,
Solved
June 6, 2016 6:59 am
  • BASICS OF INCOME TAX
sir, please answer my few questions
1.what is the meaning of no demand no refund???
2.can I re-submit the return again after filed in belated mode and claim it
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Amlan Dutta
1.) No demand no refund means that after the assessment of the tax return that has been filed , the assessing officer has determined that there is neither any tax demand that is to be raised nor any refund that has to be credited back to the assessee

2.) No, belated returns cannot be revised ......in...
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  • June 6, 2016
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Rajendran kanniyakumari
Thank you, sir,
  • June 7, 2016
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