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romeshkunder

Category : Revised ..,
Solved
July 24, 2018 8:15 pm
  • Revised Return U/s 139(5)
hi, i forgot to give a breakup of my salary while filling a itr form and i e verified it can i fill the form again.
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Amlan Dutta
Yes, you can fill it again , the process is called revision..check video answer option for relevant video on how to revise return
  • July 24, 2018
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Utkarsh

Category : How to f..,
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July 24, 2018 7:44 pm
  • How to fill Salary breakup in ITR 1
My income in Part A of form16 is Rs 2000/- less from the income chargable under head salaries in part B of Form16. Part A income ( which is Rs2000/- less from income chargable under head salaries) is shown in form 26AS. Which income will I show in filling itr.
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Amlan Dutta
Income in Part A is gross receipts not chargeable income i.e the total salary that is paid ...what you see in Part B is chargeable income in point 6 i.e salary income which is finally chargeable to tax ...you will offer Chargeable income( like the name suggests ) for tax ...select query category pro...
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  • July 24, 2018
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Sukanta Ghosh

Category : Exempt H..,
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July 24, 2018 7:24 pm
  • Exempt HRA when not shown in Form 16
Sir, Its my wife's Form 16 B. under the head of gross salary, an amount of 114197/- is shown as HRA. No other exemption is given under HRA. We are living in a rented apartment with a rent of 18000/- pm. We also do have rent receipts. Is there any provision of getting any exemption?
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Amlan Dutta
If HRA exemption has not been provided, you can claim exempt HRA as per section 10(13) and reduce it from non exempt allowances
  • July 24, 2018
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Vinod

Category : Sale of ..,
Solved
July 24, 2018 5:51 pm
  • Sale of House property
Sir,
Please advice on the Cost of acquisition with indexation (ITR2 - LTCG)
Buy: Sale Agreement - Date: 10Nov2006 Amount: Rs.25,86,000/-
Sale Deed - Date: 7Jun2008 Amount: Rs. 14,17,000/-
Sell: Sale Agreement & Deed in Nov2017 for Amount Rs.38,00,000/-
What value(Amount and CII) to be considered...
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Amlan Dutta
For sale, deed price or stamp valuation price whichever is higher shall be considered as per provision of section 50C..For purchase, cost of acquisition has to be considered......Check attached cost inflation index chart ...assume for a moment cost price is 14.17 lakhs in FY 2008 (when CII was 13...
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For sale, deed price or stamp valuation price whichever is higher shall be considered as per provision of section 50C..For purchase, cost of acquisition has to be considered......Check attached cost inflation index chart ...assume for a moment cost price is 14.17 lakhs in FY 2008 (when CII was 137)...now check CII in the year of sale to figure out CII factor for figuring out indexed cost for the year of sale ....since, you have sold it now in FY 2017 18 ,, we check CII for FY 2017 18 which is 272 ...so , indexed cost price is 14.17 x ( 272/137) i.e 14.17 x 1.98 = 28.36 lakhs...since property held for more than 2 years you are eligible for capital gains..... For sale, deed price or stamp valuation price whichever is higher shall be considered as per provision of section 50C..For purchase, cost of acquisition has to be considered......Check attached cost inflation index chart ...assume for a moment cost price is 14.17 lakhs in FY 2008 (when CII was 137)...now check CII in the year of sale to figure out CII factor for figuring out indexed cost for the year of sale ....since, you have sold it now in FY 2017 18 ,, we check CII for FY 2017 18 which is 272 ...so , indexed cost price is 14.17 x ( 272/137) i.e 14.17 x 1.98 = 28.36 lakhs...since property held for more than 2 years you are eligible for capital gains.....
  • July 25, 2018
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