Answer Posted / vivek ramakrishnan

Well, let's say you've earned Rs. 5 lacs in FY 2010-11 (i.e
for the period 01 Apr 2010 to 31 Mar 2011).

When do you file your tax returns for this? ==> It's
usually in June or July 2011.

June 2011 is actually the next year (you earned Rs. 5 lacs
for the year ended 31 Mar 2011, remember?). June 2011 falls
under FY 2011-12 (since it falls under the period 01 Apr
2011 to 31 Mar 2012).

Since you file your returns in June 2011, and hence your
tax is assessed in June 2011, this year i.e. FY 2011-12 is
called the "Assessment year".

The previous year, i.e. FY 2010-11 is called...well,
the "Previous year"

In TDS Challan, i had written the TAN No of my company wrongly and i file it to the Govt. what can i do now? is there any problem reg this? wat is my next step? shall i give any letter to TDS Circle in this regarding? how can i approach them? Kindly help me immdly with the procedure.

2588

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Dear Sir, I am working in account department. I want to know, Why service tax rate is change in every type of service. For Example - Rent Bill Service Tax Rate - 10.30% Taxi Bill - Service Tax Rate - 4.12% Why it change

2082

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th point in when will details wil get filled in ER1 2a and 2B?capg

1810

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i am new to this tax system if you don't mine "please help me"

1987

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CASH SALE OF Rs. 10000/- WITH TAX. THEN WHAT SHOULD BE THE ENTRY BEHIND THIS IN BOTH SIDE SALES AND TAXATION.

2221

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How can deduct tds from auction cases (timber)

2045

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if the goods are purchased against H Form, is there any specified time limit winthin which they should be exported?; if yes then wat is that limit?

5549

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Provision entry for current Year Income Tax A/c ----Dr To Income Tax Payable A/c Adjustment entry in next Year Income tax payable---Dr To bank A/c kindly tell me which head of income tax a/c and income tax payble a/c

1826

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What is the %age of T.A.,D.A.,H.R.A.,BASIC

4468

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IS THERE IS ANY EXUMTION FOR THE NEW CONCER TO NOT THE DEDUCT TDS IN THE 1st YEAR OF ITS INCORPORATION IF THE TURNVOER EXEED THE SPECIFIED LIMIT IN THE 1st YEAR.

2427

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what is the rate of interest when an assesse paid tax after the due date in the prescribed time limit?

1991

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what is the actual use of pure agent in tally erp 9 and why we use in tally .and what is the role of pure agent

2267

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what is fillup form when company issue c form

2360

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WHAT IS THE LIMIT ABOVE WHICH WE CAN DEDUCT THE TDS ON VARIOUS CATEGORY LIKE PRIFESSION, CONTRACTOR, INTEREST, RENT, SALARY ETC.

2238

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please provide to us the rules of wct in andhra pradesh (Hyderabad)

2257

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