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akshay jain

Category : BASICS O..,
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July 5, 2018 2:58 pm
  • BASICS OF INCOME TAX
My income is rs 150000 is it compulsory for me to file itr. My gain from IPO rs5000 should i show while filling return.Is it necessary to show interest from bank saving account in other income head? Is it compulsory for all pan card holders to file a return whether they earn or not
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Amlan Dutta
Next time, i request to please not post multiple short queries. You can club all your questions for a similar category.

1.) My income is rs 150000 is it compulsory for me to file itr. .

Unless your gross income exceeds threshold levels i.e. 2.5 lakhs , you are not required to file return of income

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  • July 5, 2018
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NITIN CHOPRA

Category : Return f..,
Solved
July 5, 2018 1:08 pm
  • Return for Salary, Interest
If a person retire in middle of year say in May 2017 , how to fill the Income tax form for Salary + Pension i.e. for two with Salary and rest of 10 months with Pension. Please explain.
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Amlan Dutta
Case (i) Pension breakup is not given,
Salary = Salary basic + total pension
Non exempt allowances = ( Form 16 gro...
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Vai

Category : 80CCD(1B..,
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July 5, 2018 12:59 pm
  • 80CCD(1B) - Employee contribution NPS.
Hi Amlan, I have watched your Youtube video on NPS contribution. I have a question on it. I am not working since last 2 years. Still I had invested 50000 Rs in my NPS Account (Tier-1) on my own. Can I claim tax benefit for this against 80 CCD(1B) while filing ITR, even though I am not employee any m...
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Amlan Dutta
NPS deduction benefit under 80CCD(1B) is irrespective of the type of employment. So, a government employee, a private sector employee, self employed or an ordinary citizen can claim benefit of Rs 50,000 under Section 80CCD(1B). So, in your case, you surely can( You may consider a second opinion)...

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Amlan Dutta
Also, next time, please be careful to select question category properly to avoid your entry getting deleted from my website
I will also not be answering any further questions which are without proper category selections
  • July 8, 2018
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JK Jain

Category : 44ADA ( ..,
Solved
July 5, 2018 11:40 am
  • 44ADA ( Profession)
In what category teaching in painting/sewing comes.Whether it comes in business or profession. She has been filing ITR4 for last more than 10 yrs.When last year in ITR4 it categorised AE, AD and ADA, she filed return ITR4 Sugam under profession category (ADA) taking income more than 50%and professi...
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Amlan Dutta
The income fall from profession only but not listed professions to take benefit of section 44ADA. She will file ITR 3 showing income from profession on normal basis.

She cannot file presumptive return ITR 4 ( ITR 4S earlier ).
Section 44ADA entitles specified professionals to offer income on presu...
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Amlan Dutta
Also, next time, please be careful to select question category properly to avoid your entry getting deleted from my website
I will also not be answering any further questions which are without proper category selections
  • July 8, 2018
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