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AV Desh

Category : TAXABILI..,
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July 20, 2018 8:37 am
  • TAXABILITY OF SALARY ALLOWANCES
Sir, please confirm Briefcase reimbursement and newspaper magazine allowance are exempted or not?
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Amlan Dutta
No , they aren't ...other than salary allowances clearly outlined under section 10, nothing lse by whatever name is not exempt partially or totally ...
  • April 30, 2019
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Sravan

Category : Revised ..,
Solved
July 20, 2018 8:23 am
  • Revised Return U/s 139(5)
Hi
I am not written challan number and amount (tax paid)
And I submitted directly ITR
What is the solution for it.
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Amlan Dutta
Simply revise return and while filling the return again this time , show the details of tax paid in schedule IT ...check answer option - video for procedure of revising return
  • July 20, 2018
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Yash S

Category : Arrear R..,
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July 20, 2018 5:00 am
  • Arrear Relief under section 89
Hi Amlan,

I worked for a company from Feb 2011 to July 2014 and then switched to another company however did not withdraw or transfer my provident fund money in 2014. Currently In Nov 2017 i withdrew my that Provident fund account money before rendering 5 years of continuous service. Could you please...
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Aruna

Category : HRA Allo..,
Solved
July 20, 2018 3:52 am
  • HRA Allowance U/s 10 (13A)
Hi Amlan,
Thanks for the super helpful videos! Wanted some clarifications.

a. Based on what's you've mentioned already, if I've given my rent receipts to my employer, and I have HRA allowance in Form 16, then I cannot and should not fill 80GG. Correct?

b. While declaring exempt income (under Taxe...
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Amlan Dutta
Point-wise answer below,
a. Based on what's you've mentioned already, if I've given my rent receipts to my employer, and I have HRA allowance in...
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Point-wise answer below, <br /> a. Based on what's you've mentioned already, if I've given my rent receipts to my employer, and I have HRA allowance in Form 16, then I cannot and should not fill 80GG. Correct? <br /><br />Answer - Correct. Section 80GG is for those who do not get HRA benefit and want to seek relief for rent paid<br /><br />b. While declaring exempt income (under Taxes Paid & Verified section), if I've filled Section 10(14)i with the exempt income as mentioned in Form 16. <br />- If I'm getting HRA+Travel allowance + Medical reimbursement, the exempt income would automatically contain the total of all of this, correct? So I should only put the total exempt as mentioned in Form 16, and not do a break up of HRA exempt, Medical reimbursement claimed etc. because it would be doubling it? <br /><br /><br />Answer - Check attached picture ...Say Exempt HRA = 10 Rs , medical reimbursement = 10 rs <br />You will show exempt HRA using 10(13A) and medical reimbursement using any other and description as tax free medical reimbursement under section 17(2) ...you won't club and show 20 Rs . There is no question of doubling when we mention separately . Rather it gives more clarity ( maybe i am missing what you meant )<br /><br /><br />c. Under Tax Details, when having a single employer, 'Income chargeable under salaries' would be the same as what turns up in Section B1(iv) Income chargeable under the 'head' salaries (i+ii+iii+iv), correct? <br />- Even if my employer has missed out filing for March and I only have 11 months worth showing up in my 26AS (that means auto-fill value is wrong), I fill what is there in Form 16, under Gross total income (which is the same as B1(iv)). <br /><br />Answer - Yes, your concept is right regarding chargeable income, but the field ( Chargeable income from salary) is B1(vi) in the return and point 6 of form 16 <br />In TDS schedule, also you are required to fill the same chargeable income and not the gross salary which prefills the ITR <br />(i have attached a picture to make clear)<br /><br /><br />d. B3 Income from other sources, I've filled out the interest I receive from my fixed deposits. and under 80TTA, I've filled out the total income from interest on savings. <br />- Under Tax Details TDS2 for the bank, for amount which is subject to tax deduction, I would then remove the prefill and put the calculated FD interest+non exempt savings interest, correct?<br /><br />Answer - Your income treatment is correct <br />You will fill it for figures reflecting in 26 as ...whatever interest has been deducted on FD interest and savings interest shall be well reflected in 26 as ...you are required to fill it accordingly ..
Point-wise answer below, <br /> a. Based on what's you've mentioned already, if I've given my rent receipts to my employer, and I have HRA allowance in Form 16, then I cannot and should not fill 80GG. Correct? <br /><br />Answer - Correct. Section 80GG is for those who do not get HRA benefit and want to seek relief for rent paid<br /><br />b. While declaring exempt income (under Taxes Paid & Verified section), if I've filled Section 10(14)i with the exempt income as mentioned in Form 16. <br />- If I'm getting HRA+Travel allowance + Medical reimbursement, the exempt income would automatically contain the total of all of this, correct? So I should only put the total exempt as mentioned in Form 16, and not do a break up of HRA exempt, Medical reimbursement claimed etc. because it would be doubling it? <br /><br /><br />Answer - Check attached picture ...Say Exempt HRA = 10 Rs , medical reimbursement = 10 rs <br />You will show exempt HRA using 10(13A) and medical reimbursement using any other and description as tax free medical reimbursement under section 17(2) ...you won't club and show 20 Rs . There is no question of doubling when we mention separately . Rather it gives more clarity ( maybe i am missing what you meant )<br /><br /><br />c. Under Tax Details, when having a single employer, 'Income chargeable under salaries' would be the same as what turns up in Section B1(iv) Income chargeable under the 'head' salaries (i+ii+iii+iv), correct? <br />- Even if my employer has missed out filing for March and I only have 11 months worth showing up in my 26AS (that means auto-fill value is wrong), I fill what is there in Form 16, under Gross total income (which is the same as B1(iv)). <br /><br />Answer - Yes, your concept is right regarding chargeable income, but the field ( Chargeable income from salary) is B1(vi) in the return and point 6 of form 16 <br />In TDS schedule, also you are required to fill the same chargeable income and not the gross salary which prefills the ITR <br />(i have attached a picture to make clear)<br /><br /><br />d. B3 Income from other sources, I've filled out the interest I receive from my fixed deposits. and under 80TTA, I've filled out the total income from interest on savings. <br />- Under Tax Details TDS2 for the bank, for amount which is subject to tax deduction, I would then remove the prefill and put the calculated FD interest+non exempt savings interest, correct?<br /><br />Answer - Your income treatment is correct <br />You will fill it for figures reflecting in 26 as ...whatever interest has been deducted on FD interest and savings interest shall be well reflected in 26 as ...you are required to fill it accordingly .. +2
  • July 20, 2018
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