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bapandebnath@yahoo.com

Category : Income t..,
Solved
March 27, 2016 12:57 am
  • Income tax
Sir
kindly help me out.


For AY-2014-15 my Gross Total Income was Rs. 630921/- according to form 16.


After E-filing AY-2014-15, I came to know that employer contributed Rs.100441/- towards pension fund (as arrears of last 4 year).

I did not know about Form 10E and filled revised, where in Gros...
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Amlan Dutta
Firstly , why did you subtract your pension arrears from the gross total income ...Thta is not to be done ...rather the form 16 itself should reflect the figures i.e gross total income considering pension arrears ...if it doesn't , then you need to add it ...next under relief under section 89 , clai...
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  • March 27, 2016
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bapandebnath@yahoo.com
sir
But how assessing officer initiated refund of my revised filing???
  • March 27, 2016
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Dev Acharya

Category : Income t..,
Solved
March 26, 2016 10:20 pm
  • Income tax
Hi Amlan, I would like to ask you about tax refund. my friend said he has a tax refund of Rs 11500 for AY 2011-12. Can he apply now?
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Amlan Dutta
No. For seeking refund , one has to file a refund return . For any assessment year , one can file return maximum until 1 year from the end of the assessment year or completion of assessment whichever is earlier. So , the last date for filing return for AY 2011 12 would be maximum 31st March 2013. ...
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  • March 27, 2016
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sumit dalmia

Category : Presumpt..,
Solved
March 26, 2016 7:57 pm
  • Presumptive taxation
i want to know who can eligible for ITR4S. Any retail shopkeeper, small contractor, are able to file return by ITR4s
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Amlan Dutta
Yes , as long as turnover of the business is less than 1 Cr ( now revised to 2 CR for AY 2016 17 ), and business is not that of weight carrying vehicles, one can avail presumptive taxation benefit under section 44AD.
  • March 27, 2016
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sumit

Category : Income t..,
Solved
March 26, 2016 3:03 pm
  • Income tax
hi Amlan ,

please tell me how to take tax benefit on higher education loan . if i paid interest in this year 17305 on education loan .
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Amlan Dutta
While filing tax return, you can claim deduction benefit under section 80 E for education loan interest ...Say your salary income is 10 lakhs ...now under deduction section under section 80 E , you will take deduction benefit 17305 Rs ....your taxable income will therefore become (10lakhs - 17305 )...
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  • March 27, 2016
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