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Amit Debnath

Category : Income t..,
Solved
June 27, 2017 5:17 am
  • Income tax
Hi Amlan,My wife is doing share trading for last 3-4 years. STCG amount is between 45-50 K. Last year ( AY 2016-17), once I filled up ITR then short term capital gain was not taxed but this year its taking 15% tax.Anything has changed this year ?
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Amlan Dutta
Specified income from STCG is always adjusted for minimum threshold level and then taxed ...so since here STCG is hardly 50,000 rs which is far below the minimum threshold level of 2,50000 rs there is no question of this being taxed this or the earlier years.
  • March 29, 2018
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Niki

Category : DTAA..,
Solved
June 23, 2017 10:16 am
  • DTAA
I watched the video on how to calculate Tax return in case of Foreign income

https://www.youtube.com/watch?v=642rekY35WU

But I am still not able to get which algorithm to calculate in case of USA as the country.

Taking the same example you took:

My Indian Salary: 10 Lakh
US Salary: 20 Lakh
Tax Deducted i...
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Amlan Dutta
i have already explained that for USA you need to follow deduction method i.e salary 20-6=14 lakhs usa and 10 lakh indian , so 24 lakhs salary income ....now put in figures of deduction and arrive at taxable income ...tax shall get computed as per slabs
  • March 29, 2018
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ANARV HANDOO

Category : Income t..,
Solved
June 11, 2017 7:26 am
  • Income tax
Hi Amlan,

I am facing issues while submitting my ITR for year 2015-2016.

I submitted the ITR from 'cleartax' last year, however failed to submit my actual papers to Bangalore.

I got emails from incometax department to submit my actual papers, however was unable to do so.

Please find the last ema...
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JITENDRA
1. Log on to Income Tax India efiling website. If you have not registered in this website then please register to get ID and Password. Normally the ID will be the PAN number. "https://incometaxindiaefiling.gov.in/e-Filing/UserLogin/LoginHome.html" 2. You will see the ITR records in the dashbo...
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  • June 12, 2017
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Amlan Dutta
Check logging into the site and whether it allows you to still e-verify ...in many a cases , the department is allowing the assesse to seek condonation(check tutorial) for delay of sending acknowledgement and then processing their returns ...if everything fails , then you are required to meet your...
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  • April 18, 2018
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MANISH MITTAL

Category : Income t..,
Solved
June 10, 2017 3:43 pm
  • Income tax
I am filing return of this Assessment year 2017 18. During filing they have charged me a penalty of Rs 996 under section 234 C ( Deferment of paying advance tax). But how can i pay in advance tax. How can i assume my income as my earnings is always from commissions of selling mutual funds and it ...
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Amlan Dutta
Advance tax in case like yours is hard to predict ...what one does is pays a fixed advance amount based on approximation of every year average tax liability and then claim refund at the end ( if more advance has been deposited )... at least this way you don't create any interest tax liability......
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  • March 30, 2018
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