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Sanjib Basak

Category : Exempt I..,
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July 24, 2018 12:25 pm
  • Exempt Income
Sir
I have received for Rs 240000/_ from LIC. One policy is Maturity for FY 17-18. How show this amount in ITR 1 and this a exempt income and which section?
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Amlan Dutta
The guiding section for exemption for all pension plans is 10(10 D) ...but there are exceptions to the rule ...if Policy taken after April 2012 and the annual premium less than 10% of the sum assured, then the whole sum received at maturity is exempt under section 10(10D) ...Check attached image on ...
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The guiding section for exemption for all pension plans is 10(10 D) ...but there are exceptions to the rule ...if Policy taken after April 2012 and the annual premium less than 10% of the sum assured, then the whole sum received at maturity is exempt under section 10(10D) ...Check attached image on how to represent this
  • July 24, 2018
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Sanjib Basak

Category : Deductio..,
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July 24, 2018 12:13 pm
  • Deduction benefit for House property
A taxable person received in his bank account Rs 5 Lakh from ICICI Home loan A/c For FY 17-18. Where this amount show in ITR 1?
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Amlan Dutta
The sanctioned loan that he has received in his bank account need not be shown in ITR ...


The loan repayment only needs to be shown on account of the deduction benefits that are available in case of home loan ....the interest portion of loan repayment under section...
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  • July 24, 2018
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Rahul verma

Category : INCOME S..,
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July 24, 2018 11:54 am
  • INCOME SCHEDULE - SALARY
Sir,my friend has received fees for checking the 10th board exam copy and the deptt shown it in other source of income in form 16 and they deducted the tax also.But while filing the itr for other source of income in efiling it is mentioned that sch TDS2 it must be fill.please guide me on this matt...
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Amlan Dutta
Say, they paid him 1000 Rs and deducted TDS 10 Rs ( This shall appear in the form 26 as )...he is required to fill the income from other sources as 1000 Rs and take tax credit for deducted TDS in schedule 2 of the tax return...all details like TAN number, deductor name , etc etc shall be available ...
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Say, they paid him 1000 Rs and deducted TDS 10 Rs ( This shall appear in the form 26 as )...he is required to fill the income from other sources as 1000 Rs and take tax credit for deducted TDS in schedule 2 of the tax return...all details like TAN number, deductor name , etc etc shall be available in his tax credit statement for the deducted TDS ..Check attached pictures. Say, they paid him 1000 Rs and deducted TDS 10 Rs ( This shall appear in the form 26 as )...he is required to fill the income from other sources as 1000 Rs and take tax credit for deducted TDS in schedule 2 of the tax return...all details like TAN number, deductor name , etc etc shall be available in his tax credit statement for the deducted TDS ..Check attached pictures.
  • July 24, 2018
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Rahul verma

Category : Transpor..,
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July 24, 2018 11:46 am
  • Transport allowance u/s 10(14)(ii)
Sir in form 16 my employer has not shown transport allowance exemption under u/s 10 still Can i claim transport allowance exemption in Itr .
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Amlan Dutta
If transport allowance was part of your salary and the exemption has not been considered by the employer, then you can claim eligible exemption at the time of filing return ...however , if transport allowance itself was not given to you, then there is no question of being eligible for exemption und...
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  • July 24, 2018
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