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MANISH MITTAL

Category : Selectio..,
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March 13, 2017 1:14 pm
  • Selection of Return
Which ITR I have to file. I have capital gain too from sale of mutual funds.

Also my main source of income is commission earned from distribution of mutual funds???

Is it ITR 2 or ITR 4 ????
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Amlan Dutta
Income from profession and sale of mutual funds (capital gains )...this can be represented using ITR 3 and so you can file using ITR 3 for AY 2018 19 ( for different years you need to study whether the return has those income heads)
  • April 18, 2018
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MANISH MITTAL

Category : Income t..,
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March 13, 2017 1:01 pm
  • Income tax
Hi Sir,

I am an Independent financial adviser ( Free Lancer) . In this Financial Year (2016-17) my income is Rs 672000 (round figure) through commissions of mutual funds and tax free bonds . Also I have made investment under 80 C (1.5 lakhs) and 80 D (12k) to save tax but still around 30k more to be...
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Amlan Dutta
1.) Saving tax - Explore section 80 ..not possible in my scope to understand what all investments shall suit you ...study 80 C to 80 U ...whatever looks good , you can invest accordingly

2.) Not before 15th March , but advance tax as per earlier dates also
Return shall compute what tax needs to be p...
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  • March 21, 2017
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MANISH MITTAL
Hi sir,
Thanks for reply...I have studied all sections from 80C to 80U but 1 query still remain Unanswered....

Is there is a provision of showing Expenses in earning this income like travelling, petrol , Internet charges etc for free lancers like me though I have no documentary proof of it. If yes, ho...
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  • March 23, 2017
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Amit Nakrani

Category : Income t..,
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March 12, 2017 1:25 pm
  • Income tax
Hi Amlan, While declaring investments with organisation I forgot to declare "house rent loss" so that it can be deducted from my income. Now my finance department is suggesting to mention it during IT return (its ITR-1 form). My question is, where I can mention "house rent loss" in ITR-1 form during...
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Amlan Dutta
Well i think that you are referring to the rent that you pay and therefore a part of your HRA must be exempt and because you haven't declared the rent receipts etc , the company has not given you any HRA exemption ...while filing return you can compute exempt HRA as per calculations and reduce charg...
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  • April 18, 2018
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Rahul Singh

Category : Arrear R..,
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March 8, 2017 2:01 pm
  • Arrear Relief under section 89
Dear Sir, I have watch your YouTube Sessions. It was very much usefull. Sir, my fried has got a job on 23Sept 2015. but his salaries arrears got credited in April for 6 months (Rs 202000). His annual salary is around 40000. Now during filing ITR he want a relief by filling 10E. Since gross income g...
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Amlan Dutta
Check his form 16 ...it shall mention chargeable income from salary and also the relief that is applicable ...for claiming that relief first fill form 10 E online and you should be fine ....of the taxable income that arrives, the threshold based on his age is determined by the slabs of which the fir...
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  • April 19, 2018
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