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Gobinda Kundu

Category : PENALTY.., TDS Retu.., TDS Cred..,
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  • PENALTY
  • TDS Return filing
  • TDS Credit
  • TDS
  • Salary TDS (u/s 192)
  • Filing return of earlier previous years
  • Income tax
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    Solved
    July 29, 2019 12:21 am
    • PENALTY
    • TDS Return filing
    • TDS Credit
    • TDS
    • Salary TDS (u/s 192)
    • Filing return of earlier previous years
    • Income tax
    Hello Sir,

    I worked in a PSU Bank from 19.09.2016 to 31.03.2018. However, in reality I worked from joining to 31.10.2016. At other times I was at home on leave without pay. Evidently, for the FY 2017-18 I did not earn a single paise from the bank. Now, in my new job which I joined in August, 2018 w...
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    Amlan Dutta
    Just check whether the gross income for that year exceeded threshold levels i.e 2.5 lakhs , if not , you are not required to file return of income ...besides it is not the banks duty to inform you about deducted tds i.e ignorance cannot be cited as a excuse or put on the deductor ....but i think it ...
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    • July 29, 2019
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    Gobinda Kundu
    Yes Sir! For that FY, I did not earn a single paise as salary from the bank...the little that I earned as interest on savings for that account was around Rs 2000 (Two Thousand) only. So obviously, I am not taxable. Yes, it is the bank's fault for having deducted TDS. So my query to you now is - shou...
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    • July 29, 2019
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    Sudam Maharana

    Category : Tax Comp..,
    Solved
    July 28, 2019 6:39 pm
    • Tax Computation
    Dear Amlan ji, I hv little confusion in calculating income tax, hope u wl clarify.
    This AY I hv received my last year salary arrears and I m also eligible for 80GG deduction. Below r d salary details.
    Gross total salary including arrears - 689105
    Arrears - 39227
    80C-150000
    80D-5400
    80G-1200
    NPS own-47055
    ...
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    Amlan Dutta
    Sorry, this site is not meant for all this , you can seek form 16 from employer and put in the respective figures in the ITR website and you shall get the tax computation computed by utility itself based on slabs on taxable income!

    Just so that you know the concept , tax is applied on taxable income...
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    • July 29, 2019
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    Sudam Maharana
    Thank u Amlan ji for your replay. I think there is some twist while taking relief u/s 89 along with 80GG deduction.
    • July 30, 2019
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    Prasad Shirodkar

    Category : LTCG on ..,
    Solved
    July 28, 2019 3:17 pm
    • LTCG on stocks
    Hello Sir, Thanks for your help on my earlier questions. Your answers to various questions has been very helpful. I have a question regarding taxation on LTCGMy mom has 200 shares from Bayer Cropscience. They were transfered to her name after my fathers death. She wants to sell the shares. What is t...
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    Amlan Dutta
    Earlier they used to be exempt under 10(38)....this has now been removed ...taxability u/s 112 A applies ...gains till 1 lakh rs still remain exempt ...over that any arising capital gains are taxed at 10 % .......
    • July 28, 2019
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    Shashank Yadav

    Category : Taxabili..,
    Solved
    July 28, 2019 2:57 pm
    • Taxability of Interest Income
    Dear Sir

    I have a query that

    On FD interest bank deduct 10% TDS so is it necessary to show FD interest in irt at "income from other sources".

    Sir can I file itr without showing FD interest at "income from other sources" and without claiming TDS which is deducted on Fd interest.
    Because bank has alr...
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    Amlan Dutta
    Brush up your concepts seeing some fundamental articles ...i cannot cement fundamentals in my answers ...anyways long story cut short , taxability is as per slabs on total income whereas TDS is done as per TDS sections ...for bank interest it is done at 10 % , however the actual taxability of the FD...
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    • July 28, 2019
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