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Fire your tax related quieries and i would get it solved!!!

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  #2251  
Old 23rd March 2017, 01:10 AM
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Default Re: Fire your tax related quieries and i would get it solved!!!

I bought IT stuff for 1 lac as well as furniture worth 1 lacs around, air conditioning still to be purchased


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  #2252  
Old 23rd March 2017, 09:41 AM
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Default Re: Fire your tax related quieries and i would get it solved!!!

Quote:
Originally Posted by princy01 View Post
I bought IT stuff for 1 lac as well as furniture worth 1 lacs around, air conditioning still to be purchased
Only a tax expert can tell you about depreciation available on these capital assets. I dont have current info.
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  #2253  
Old 2nd April 2017, 07:18 PM
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Default Re: Fire your tax related quieries and i would get it solved!!!

Quote:
Originally Posted by elwavetrader View Post
Nikhil Sir

Please reply.
If the total Income (after providing for the 30% deduction) is in excess of exempted limit.
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  #2254  
Old 2nd April 2017, 07:22 PM
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Default Re: Fire your tax related quieries and i would get it solved!!!

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Originally Posted by princy01 View Post
Is it an idea or business need?

Bought new pc 5 monitors for trading purposes, is it idea or business expenses

Buying air conditioner too, that's an expense?

I think my turnover is high so will get audit done anyways
all the assets used for business are covered and depreciation is provided under different slab rates.

for IT products like computers depreciation is at 60%...for furniture etc 15% depreciation is permitted.

However, AO has the power to verify whether the assets are being used for business purpose or not.
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  #2255  
Old 2nd April 2017, 08:25 PM
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Default Re: Fire your tax related quieries and i would get it solved!!!

The new 1 page ITR form, can the traders use it ?
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  #2256  
Old 2nd April 2017, 08:33 PM
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Default Re: Fire your tax related quieries and i would get it solved!!!

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Originally Posted by timepass View Post
The new 1 page ITR form, can the traders use it ?
No, not for business class
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  #2257  
Old 2nd April 2017, 08:59 PM
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Default Re: Fire your tax related quieries and i would get it solved!!!

Quote:
Originally Posted by timepass View Post
The new 1 page ITR form, can the traders use it ?
Bhai, this newly introduced 1 page ITR is ITR 1 and so cannot be used by traders.

This new ITR form is meant for those, who have (any one or both)
1. Salary income
2. Income from house property, only 1 house property, if one has more than 1 hose property then, cannot use this form.

But a problem is there and this new ITR form may not be used by most of the individual. As dept has notified that, this form to be used by only these 2 categories, (and the fools) gone silent on income from other sources, and most of individuals have this sort of income, you, me, he, everyone. Which income is this. This is bank interest income, in any form. And no clarifications has been given for this.

So untill any clarification is not given of this aspect, this new form will be of no use for most of the individuals.
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  #2258  
Old 21st April 2017, 01:08 PM
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Default Re: Fire your tax related quieries and i would get it solved!!!

Is anyone facing this annoying problem while linking Aadhaar card to PAN card on the I-T site?

My name, DOB and gender are all exactly the same as in my PAN card but despite that, I get an authentication error while linking the two on the income tax efiling site. I tried multiple times, but it's failing. It should be a simple task but it's turning out to be a nightmare!
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  #2259  
Old 22nd April 2017, 06:27 AM
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Default Re: Fire your tax related quieries and i would get it solved!!!

Quote:
Originally Posted by natjay View Post
Is anyone facing this annoying problem while linking Aadhaar card to PAN card on the I-T site?

My name, DOB and gender are all exactly the same as in my PAN card but despite that, I get an authentication error while linking the two on the income tax efiling site. I tried multiple times, but it's failing. It should be a simple task but it's turning out to be a nightmare!
may be site facing some problem
as mine was done quickly.
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  #2260  
Old 22nd April 2017, 09:53 AM
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Default Re: Fire your tax related quieries and i would get it solved!!!

Quote:
Originally Posted by TraderRavi View Post
may be site facing some problem
as mine was done quickly.
I'm trying since the last few days, bhai. Today also the same problem & error.
Despite the push for digital this and that, govt departments are still way behind the curve.
Not very user friendly at all.

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