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Kumar rohit

Exempt Income...
11 minutes ago Unsolved
Hi,

thanks for the video , it is really helpful, I checked others videos also for information but I think you have explained it better than others.
many of my got doubt got cleared.

my father is a Govt employee and I was trying to fill the income tax for him.
There is difference in salary as per the fo...
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Sanjay sen

INCOME TAX...
54 minutes ago Unsolved
Sir,
Income chargeable in 26as and form 16 partA which is 649659.00 matches but in form 16 partB income chargeable is 636305.00
Even if I add the allowance to the extent exempt u/s 10 which is 13879(as given in form 16 partB) it does not match with 649659( as given in form16 partA and 26as). So what ...
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manoj

General...
2 hours ago Unsolved
Hello Amlan sir
I am little bit confused my Income had are Professional (contract Employee),Fd interest and pension.This Year (2018) i invest some money in Mutual funds (lump sum) which ITR from i filed and why not Itr4.....?
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Deepak bajpai

TCS...
3 hours ago Solved
Sir I have purchase a car for rs 1200000 the TCS of rs 12000 is deducted by me and shown my 26as forms I am a goverment employ and fill my itr for last 5 years how I claim this amount may I claim it or not how I fill my itr
My TDs of rs 87000 is also deducted from my employer
What can I do
Please reve...
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Amlan Dutta
Since you have bought car for 12 lakhs , this 12 lakhs is not any income and therefore you are not required to show the 12 lakhs under any income schedule ...however , since tax has been collected at source , you can surely claim this TCS( tax collected at source ) amount in ITR 1 and use this cre...
Since you have bought car for 12 lakhs , this 12 lakhs is not any income and therefore you are not required to show the 12 lakhs under any income schedule ...however , since tax has been collected at source , you can surely claim this  TCS( tax collected at source ) amount in ITR 1  and use this credit for meeting your tax liability ....check answer option - video for tutorial on this topic...Under tax details tab , head towards TCS schedule and fill details accordingly (check attached pictures)...you can also refer to the answer options - video for video on this topic                                                                                       P.s - As per new introduction in Budget 2016, and newly inserted Sub Sec. 1F of Section 206C.,Finance minister, Mr. Jaitley had proposed to impose a provision for collection of Tax at source at the rate of 1%, in case of Sale of Motor Vehicle and finally it was passed and law amended. Effective date is 1st June, 2016                                                                                                                       Act – “ Every person, being a seller, who receives any amount as consideration for sale of a motor vehicle of the value exceeding ten lakh rupees, shall at the time of receipt of such amount, collect from the buyer, a sum equal to one percent of the sale consideration as income tax.Since you have bought car for 12 lakhs , this 12 lakhs is not any income and therefore you are not required to show the 12 lakhs under any income schedule ...however , since tax has been collected at source , you can surely claim this  TCS( tax collected at source ) amount in ITR 1  and use this credit for meeting your tax liability ....check answer option - video for tutorial on this topic...Under tax details tab , head towards TCS schedule and fill details accordingly (check attached pictures)...you can also refer to the answer options - video for video on this topic                                                                                       P.s - As per new introduction in Budget 2016, and newly inserted Sub Sec. 1F of Section 206C.,Finance minister, Mr. Jaitley had proposed to impose a provision for collection of Tax at source at the rate of 1%, in case of Sale of Motor Vehicle and finally it was passed and law amended. Effective date is 1st June, 2016                                                                                                                       Act – “ Every person, being a seller, who receives any amount as consideration for sale of a motor vehicle of the value exceeding ten lakh rupees, shall at the time of receipt of such amount, collect from the buyer, a sum equal to one percent of the sale consideration as income tax.
  • 3 hours ago
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Saiyeda Mohiyul Ain

Income below threshold level...
4 hours ago Solved
Hello sir
I have only fd interest income that is less taxable income of 250000(individual). I was charged just 14/- tax by bank ..but my concern is..am i correct in saying it's not mandatory to file if income is less like above..but if i do so(not bothered about refund 14/-)...will it be non complia...
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Amlan Dutta
You are not required to file if gross total income is less than threshold levels. I can't comment on what department does or not ...and the 14 Rs TDS doesn't make sense ...Under section 194, 10 % TDS shall be done ......it is your choice whether you want to file or not in such case ...earlier years...
  • 3 hours ago
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Saiyeda Mohiyul Ain
Even I don't know..it says for 143 /-, 14/-tax deducted ..there were 2 sections under same bank... 1)details of tax deducted at source and above 2) details of tax deducted at source for 15g...their it's 63000 and 0 tax..
I don't know the reason why tax was deducted as form 15g was given.. so I am s...
  • 2 hours ago
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Manjit kumar

General...
4 hours ago Unsolved
Sir Maine F/Y 2014-15 ka TDS return Ko verify nahi karne ki wajah se receive nahi kar sakaa, kya mai use current F/Y me claim kar Sakta hu
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Amlan Dutta
No , you cannot e-verify the acknowledgement for FY 2014 15 now ...the time period allowed is 120 days for acknowledgement to reach department or e - verification ....
  • 3 hours ago
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DAK

Exempt Income...
4 hours ago Solved
Hello Amlan Sir,
I have a PPF Account in SBI which will mature in 2024 only. I understand that [U/s 10(11)-Statutory PF received] interest income from PPF is exempt and it has to be shown in IT Return for Reporting purpose. Account statement for the FY 2017-18 shows a credit interest of Rs.27, 894/-...
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Amlan Dutta
Very good question ....It is to be shown and reported under 10(11) ...accrued income is also a form of receipt only......
  • 3 hours ago
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Deepak

General...
5 hours ago Solved
Hi Amlan,

While filling tax return for FY 2017 -18, it is showing some amount in Interest u/s 234 B and 234 C
I had switched company in Nov 2017 and submitted investment proofs in both the companies.It seems both the companies considered my investment of Rs. 169305 (PPF and medical insurance) and ...
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Amlan Dutta
Well , my solution would not be the one you would like to hear though ...in this case you will pay self assessment tax using challan and meet the balance tax liability before taking credit and uploading return ....we are at mercy of the deductors at times...sorry, if the answer doesn't strike the r...
  • 4 hours ago
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G SATEESH

General...
6 hours ago Solved
Hello Sir
I am a PSU employee. In addition a lorry(Transports Cement) is there in the name of me. But all the payments will be done to my fathers bank account. But total payment is showing in my 26AS. TDS is also not deducted.What should i do..How and Which ITR should i file?....thank you
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Amlan Dutta
If the payment is showing in your account , it is your income and has to be reflected in income ...in this case since it appears to be contract income , you will fill business income schedule w.r.t to these income
  • 4 hours ago
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G SATEESH
what about the ITR...which one should i file
  • 4 hours ago
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