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Narendra Sharma

Category : Income t..,
Solved
June 28, 2016 3:35 pm
  • Income tax
Hello Amlan,

1. In ITR-4S is it necessary to fill "E 10. Amount of the Cash Balance" under Financial Particulars of the Business ?

2. Can I show 45% of gross turnover as presumptive income in ITR-4S under section 44AD, instead of 8% ?
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Amlan Dutta
1.) If you fill , it's good

2.) Minimum 8 % is required to be declared which means that you can declare anything more as well ......
Hope that clears your issue.
  • June 29, 2016
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Narendra Sharma
Regarding the 1st point, will they accept my ITR if I leave that item empty? Actually my savings account has a high balance, almost twice the gross receipts in the last financial year.
  • June 29, 2016
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Sourav Halder

Category : Income t..,
Solved
June 27, 2016 6:12 pm
  • Income tax
Hi Amlan, My mother is an agent of post office and LIC. Upto last year i.e. AY 2015-16 she filed her ITR through a consultancy. I have seen from her online income tax account that the person of consultancy filed her last year ITR using ITR 4S. It was accepted and the refund of TDS was d...
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Amlan Dutta
I may have created many tutorials in the past some of which were updated to the extent of the knowledge i then possessed.

Surely, agent income cannot be treated as business income , so ITR 4S is out of question
Now , with my recent understanding the TDS on agent income plays a major role in determini...
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  • June 28, 2016
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PRABIR PAUL

Category : Income t..,
Unsolved
June 27, 2016 2:46 pm
  • Income tax
Hi,
Amlan Ji,

1)I am not sure but maybe debt mutual fund is not allowed for deduction in under section 80c whether equity mutual fund is allowed for deduction in under section 80c. If my concept is correct then can you please tell me why debt mutual fund doesn't allowed for deduction in under secti...
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bhagyesh mahajan

Category : Income t..,
Solved
June 23, 2016 6:05 pm
  • Income tax
How to show gift of gold from father (whose value is around 10 lacks) in the ITR
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Amlan Dutta
Since this is exempt income , it has to be reported in exempt income reporting section of the return ...In ITR 1 , there is no separate exempt income schedule and so it can be simply reported and in case you are using any different return to portray your scope of taxable income , then you can use th...
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  • June 24, 2016
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