Thursday, 15 October 2015

Solution of Notice of Defective Return under section 139(9)

Common cases when notice for defective return is sent:

– when you have filled up details of taxes paid, but have not provided income details, the Income Tax Department deems it defective.

– A notice for defective return is sent when tax deducted has been claimed as a refund, but no income details are provided in the return.

– The Department sends you a notice for defective return under Section 139(9), when you haven’t paid your taxes in full.

– when you are required to maintain balance sheet and profit and loss statement, but haven’t attached them with your income tax return, the tax return is declared defective.

– When total presumptive income under Section 44AD is less than 8% of gross turnover or recepits, ITR-4 has to be filed. A notice is sent when the filing is made on ITR-4S instead of ITR-4.

– the name mentioned on the income tax return does not match with the name on the PAN card.


when you haven’t paid your taxes in full.

You have to pay the remaining tax i.e showing up under field AMOUNT PAYABLE

1)Go to https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp
2)CHALLAN NO./ITNS 280 (payment of Income tax & Corporation Tax)
3)Fill the necessary details and pay the SELF ASSESSMENT TAX.
4) Get the Challan related details accordingly.

Downloading the Returns you filed in XML Format :

1)Go to https://incometaxindiaefiling.gov.in/e-Filing/UserLogin/LoginHome.html
2)Click on View Returns/Forms or Go to My Account Menu-->Click on Efiles Returns/Forms
3)Click on Ack. No of the corresponding Assessment Year.
4) In Download/Status Description you will have XML & ITR/FORM options.
5)Click on XML option and downlaod it.

Download the ITR TAX UTILITY following the below steps.

1)Go to https://incometaxindiaefiling.gov.in/e-Filing/Services/DownloadItrLink.html
2) For the Specific ITR1/ITR2/ITR2A.... which ever you got to file download the corresponding JAVA utility.
3)Once you download, Unzip it and click on ITR.bat
4)Now you can import the XML file (which is containing DEFECTS), by clicking on OPEN option.
5)You got to give the Login credentials of E-filing if asked.
6)Once the importing is done successfully, you can view all the data i.e filed by you earlier.
7)In the IT tab, add the Challan details that you have paid (Amount Payable )
8)In PART A - GENERAL tab,under Filing Status section, you got to fill the corresponding details.
    a)Return filed* ----- "18"-In Response to a notice u/s 139(9) where the original return filed was a defective retun
   b)Whether original or revised return?  -----Original
   c)Notice Number ----- Your  Communication Reference No----- (Eg : CPC/0000/B5/1000000001)
   d)If revised/defective/Modified, then enter Receipt No  ------ This is your Efiling                Acknowledgement No.
   e)Date of filing Original Return(DD/MM/YYYY)------Give the corresponding one
   f)If filed, in response to a notice u/s 139(9)/142(1)/148/153A/153C enter date of such notice --- --Please enter the date of the notice you recieved in your gmail/any email id.
  g)Residential Status*  ------RES-Resident
 h)Are you governed by Portugese Civil Code as per section 5A?(If "YES" please fill schedule 5A)*----- --No

9)After filling the above 2 tabs, click on Re-Calculate button.
10)Go to Part B- TTI tab, check Amount Payable.  It should be ZERO now.
11)Now Click on SAVE button so that it will be saved as XML format.
12)So, Now the Rectified XML is generated.

13)Now login to  https://incometaxindiaefiling.gov.in/e-Filing/UserLogin/LoginHome.html
14)Go to e-File Menu-->click on e-File in response to Notice u/s 139(9)
    Enter the Necessary details along with Acknowledgement no.
Upload the Rectified XMl i.e prepared above.
It will ask the same data which is provided in 8th Step.
So, give all the details.

15) That's it. you are done.

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Wednesday, 14 October 2015

Top 10 companies that pay more than 25% dividend



1.ITC

2.PAGE INDUSTRIES

3.P&G Hygiene

4.ASIAN PAINTS

5.Dabur India

6.GlaxoSmithKline Consumer Healthcare

7.Supreme Industries

8.HDFC

9.GRUH

10.PIDILITE INDUSTRIES





Sunday, 11 October 2015

White/Yellow water coming out from Left EAR continuously

Symptoms : 1) Pain in Left Ear
                    2)White water comes out from Left Ear.
                    3)Yellow water comes out from Left Ear.
                    4)Ear beat comes like heart beat from Left Ear.
                   

Occurs Because of
                         1)Pouring Hydrogen Peroxide in Left ear for removing Wax.
                         2)H202 might have caused a burning sesation in  the Left Ear drum slightly when you are pouring it.
                         3)Used Earbuds forcibly for removing Wax.
                         4)Small tiny hole might have formed in the Ear drum thru which the water is coming out.


Remedy.
------------

1) IPOD-CV tablets  1 tablet at morning and 1 tablet  at night. (For 5 days)
2)OTOCIN EAR drops 2 drops  at morning, 2 drops at evening and 2 drops at night.
3)INTRIZ PLUS 1 tablet at morning and 1 tablet  at night. (For 5 days)
4)Anac-R  (Optional) one tablet at Lunch.

Note  : If you feel more pain while using Ear drops, Please stop using it.

These are not my own Prescriptions. I have got this Prescription from a ENT Doctor for the specific Symptom I faced. So I am posting it accordingly. If you are using the above remedies, Please check whether the symptoms I mentioned above are been facing by you too. At your own risk only you got use this medicines.

1)IPOD-CV tablets
Cefpodoxime & Pottasium Clavulanate Tablets
6 tablets--Rs.234
This medication is used to treat a wide variety of bacterial infections. This medication is known as a cephalosporin antibiotic. It works by stopping the growth of bacteria.
This antibiotic treats only bacterial infections. It will not work for viral infections (e.g., common cold, flu). Unnecessary use or misuse of any antibiotic can lead to its decreased effectiveness.

2)OTOCIN EAR DROPS
Otocin Ear Drops is an antifungal medication commonly used in the treatment of fungal infections of both humans and animals such as vaginal yeast infections, oral thrush, and ringworm. It is also used to treat athlete's foot and jock itch.
Price-Rs.36


3)INTRIZ PLUS tablets
(levocetirizine HCI phenylephrine ambroxol paracetamol)
It is prescribed for maintenance of blood pressure and is used locally as a nasal or ophthalmic vasoconstrictor. contraindications Narrow-angle glaucoma, concomitant administration of monoamine oxidase inhibitors, or known hypersensitivity to this drug prohibits its use.
C-Off (Phenylephrine 10mg + Levocetrizine 2.5mg + Paracetamol 500mg + Caffeine 30mg Tablets)
Benefits:
•Phenylephrine relieves Nasal congestion
•Levocetirizine is more potent at suppressing weal & flare
•Paracetamol brings down associated fever & pain
•Caffeine elevates dull mood
Ambroxol: is a clinically proven systemically active mucolytic agent.The breakdown of acid mucopolysaccharide fibers makes the sputum thinner and less viscous and therefore more easily removed by coughing. Although sputum volume eventually decreases, its viscosity remains low for as long as treatment is maintained.
Usage:
•Rhinitis
•Sinusitis
•High Fever
•Common Cold Flu.
10 Tablets-- Rs.60


4)Anac-R
aceclofenac paracetamol rabeprazole combination
10 tablets -- Rs.120





 

Monday, 7 September 2015

How to earn maximum interest from PPF account?

If you want to earn maximum interest on your PPF account then invest money once in the year but before 5th April. In this way, you can earn interest throughout the year because the money you have invested will be the lowest balance for every month hence you can get maximum interest. If you don’t have onetime money and you want to add the money every month then invest it before 5th day of every month. 

Analysis:

§  When you invest Rs. 60,000 once a year but before 5th Apr, for 8.7% Interest Rate, then you get the interest Rs. 5,220 and the final amount will be Rs. 65,220.

Which soap do you use? Toilet soap or bathing bars?


Toilet soap is the soap used as a toiletry and the toiletry means - an object or cosmetic used in making up, dressing, etc. Due to the word toiletry, we misunderstood the concept of toilet soap. Cambridge dictionary defines the toilet soap as “a sweet-smelling soap that is intended for washing the body”.

Soap is used to clean the body and it is catagorised as toilet soap and bathing bar. The distinction (toilet soap and bathing bar) is made on the basis on amount of fatty material used to manufacture the soap. The thing to note is higher fatty material soap has better cleaning ability. Toilet soap contains more fatty material than bathing bar, so they soften the skin than bathing bar.

Total Fatty Matter (TFM) :
The soaps are rated in terms of Total Fatty Matter (TFM) contents. Good TFM soap has a good cleaning and nourishing property. TFM is a measure (in %) for identifying the amount of fatty matter present in soap i.e. more the fatty material present in soap, it is good for skin. In ideal saponification process, the ratio of fats to bases is 5:1. If we consider 5:1 ratio then TFM value of soap is 83.3% (but observed max value of TFM is 80%).


According to Bureau of Indian Standards (BIS), there are two types of soap - toilet soap and bathing bar. TFM content in bathing bar should be less than 60% but not less than 40%, while toilet soaps are categorized in three sub-categories depending on their TFM content. The TFM content of Grade I toilet soap should be 76% or above. TFM content of Grade II toilet soap should be less than 76% but not less than 70%. TFM content of Grade III toilet soap should be less than 70% but not less than 60%.

Summary :
*Toilet soap High amount of fatty material and TFM ranging from 60-80%
* Bathing bar Less amount of fatty material and TFM ranging from 40-60%

  TFM % in 3 Grades.
---------------------------------------------
Grades                TFM%
---------------------------------------------
GRADE 1       76% or above

GRADE 2      > 70%   and < 76%

GRADE 3      >60% and <70%






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