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Deepjyoti Das

Category : Selectio..,

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December 17, 2018 1:56 am

I have recieved Rs.5430 from flipkart affiliate marketing, also received Rs.15000/- interest from savings and FD accounts and also earned Rs.2500/- by selling equity shares on short term. Please kindly help me which ITR to be filed???

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Amlan Dutta

She can select return form ITR 2 ...if you want to know the reasoning, read further.......
1.) Affiliate i...

She can select return form ITR 2 ...if you want to know the reasoning, read further.......
1.) Affiliate income from Flipkart ( Amazon/ Snapdeal)
This is commission income , The deductor shall deduct TDS @ 5 % under section 194 H on the commission it provides for affiliate marketing. I believe it is the simplest to offer commission income as income from other sources head ....( though people may have views of offering it as income from business profession as well) Interest income (Both from savings and FD ) has to be offered under other sources ...note for savings portion , she can claim deduction benefit under 80 TTA for lesser of saving bank interest or 10,000 Rs .... Add both interest income and affiliate income and offer it under other sources head of the ITR.

2.) I see that the assessee also has capital gains income ( Short term) taxable at 15 %.......
Offer it under Capital gains head of the ITR
Since all the income heads i.e income from other sources and capital gains is available in ITR 2, so she can depict scope of taxable income using ITR 2.
(In case you want to offer commission income under business profession head, you shall be using ITR 3. (I won't advise filling ITR 3 )

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December 17, 2018

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Amlan Dutta

She can select return form ITR 2 ...if you want to know the reasoning, read further.......
1.) Affiliate i...

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December 17, 2018

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M S Banerjee

Category : Equity M..,

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December 16, 2018 4:49 pm

I want to know whether monthly dividend of HDFC Balanced Advantage Fund is taxable for a individual for FY 2018 19

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Amlan Dutta

No it should not be taxable , what was proposed was to introduce DDT in the hands of the fund itself i.e HDFC funds after computing profits will first have to pay taxes on it and then distribute dividends ....Note however, that the dividend in the hands of the investor stays tax free ... ( Earlier...

December 16, 2018

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Santosh

Category : REVISION..,

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December 14, 2018 8:34 pm

Hello Sir,

My outstanding demand for Assessment year 2011 and 2017 has been adjusted in 2018 return. but i have already paid demand 2017 before adjustment of 2018 return.

Than how do we claim that amount which i have paid against 2017 outstanding demand.I can see that amount in 2017 26AS .

Out...

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Amlan Dutta

You need to meet your assessing officer in person and discuss this case in person ...online rectification of passed order won't help ....you can seek refund of adjusted amount but it has to be now done manually only ( he has to pass rectification order) ...carry this tax credit statement to justify ...

December 15, 2018

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Santosh

Is rectification for assessment year 2017-18 can refund the amount? .

December 17, 2018

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Nithin Venugopal

Category : Deductio..,

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December 13, 2018 9:24 pm

Hello Sir;

Could you please tell the logic behind providing the deductions to Individual assessees in Income Tax Act under Chapter VI-A specifically 80C, 80CCC, 80CCD?

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Amlan Dutta

I am not very clear on what you want to know but the deductions are provided so that individuals can save tax by investing in eligible investments ...........there is not enough space in this forum to address each section in detail ........i won't be able to waste further time answering theory ...al...

December 14, 2018

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