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NAGARAJ

Category : Clubbing..,
Solved
April 7, 2019 1:21 pm
  • Clubbing of income
Hi Amlan,

I have opened a bank account, and a Demat account in the name of my wife in the month of March 2019, who is a housewife, and transferred Rs. 4,00,000 from my bank account (This amount is credited in March 2019 to my account from closure of a 2 year house lease agreement).

Out of Rs. 4,00...
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Amlan Dutta
All income that is generated from equity and interest both shall be clubbed to your income ...better to close her account and create one in your name to avoid all these unnneccesary clubbing Many people to transfer assets to othe...
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  • April 8, 2019
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Raj Tiwari

Category : TDS..,
Solved
April 4, 2019 3:03 pm
  • TDS
Hello Sir,
My salary does not meet tax slab but my FD meets. TDS deducted from my FD in the month of DEC 2018 is reflecting in form 26A, but TDS deducted in month of JAN and FEB is not reflecting in form 26A. Please guide me how can I file TDS return??

TDS deducted in DEC:- 100 Rs.
TDS deducted...
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Amlan Dutta
First, figure your taxable income ...Lets do it together....... Sum total of chargeable salary plus FD plus any other chargeable income( income on which tax applies ) forms your gross total income . That minus eligible savings will help you arrive at taxable income on which tax as per slabs shall ...
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  • April 4, 2019
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Ujjwal Kundu

Category : INCOME S..,
Solved
April 4, 2019 12:59 pm
  • INCOME SCHEDULE - HOUSE PROPERTY
Dear Amlan sir
I reside in my father's house and I don't have any house property. So during efile itr1, what to select in the row "type of house property"? Self occupied? Or let out? Or nothing select? If I select "self occupied" it means that I've a house property, but actually I don't have.
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Amlan Dutta
You will leave type of house property as it is i.e in select mode itself which means that you have selected nothing ...as regards the question , you have answered it yourself. When it is not your house, there is no question of generating income from it a nd hence you cannot declare it. Your fath...
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You will leave type of house property as it is i.e in select mode itself which means that you have selected nothing ...as regards the question , you have answered it yourself. When it is not your house, there is no question of generating income from it a nd hence you cannot declare it. Your father being the rightful owner alone shall declare the house property in the return for declaring income, if any. You will simply keep the house property section blank and fill nothing there .....Please refer to my basic series of tutorials on youtube because it may not always be possible for me to answer such basic stuff
  • April 4, 2019
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Joel MS

Category : REVISION..,
Solved
April 4, 2019 2:09 am
  • REVISION AND RECTIFICATION
Hi Amlan,

Income tax department has been incorrectly claiming the following two things
1)There is inconsistency between salary income - Rs 1,08,000
2)There is inconsistency between Other Source income - Rs 12,805

1)
I claimed (my house rent ) HRA Exemption in my ITR2 for Rs 1,08,000. This amount ...
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Amlan Dutta
1.) As regards department's communication for proposing adjustment for Salary Income , I think your claim for offering lower salary on account of unconsidered HRA is very well valid and justified and more importantly permissible complying with the law. I beleive that you have opted for e proceedings...
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  • April 4, 2019
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Joel MS
Thanks for your thoughts. Let me try my luck again.
  • April 13, 2019
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