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Indranil Phukan

Category : HOW TO F..,
Solved
June 9, 2018 12:54 am
  • HOW TO FILE RETURNS
Hi I am a salaried employee but recently I was doing intraday trading. In trading I have incurred losses only. So in such case what ITR needs to be filled. If there is a you tube video that explains about the process of filing in such case, please provide the link to the same. Thanks in advance
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Amlan Dutta
This is considered as speculative business . In case of business , if there is loss , audit is mandatory under 44AB ...so , get audit done under 44AB and file ITR 3 (department will consider return defective if submitted without submitting audit report first )
  • June 9, 2018
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Honey

Category : ASSESSME..,
Unsolved
June 8, 2018 6:30 pm
  • ASSESSMENT PROCESS
Hi Amlan, I have commission income from a credit co-operative society and i do trade in share market in both equity and F&O...i got profit in equity and loss in F&O...My question is, Do i need to maintain a balance sheet and can i adjust my loss in Business with profit/gains from other incomes like ...
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Amlan Dutta
Interest income = Income from other sources , Equity = Capital gains , F&O = Normal business income .If loss in business, you need to first submit audit report and then upload return ..for business , interhead loss adjustment can happen with any head other than salary ...return itself will do the lo...
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  • June 9, 2018
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Sravana Kumar

Category : INCOME S..,
Solved
June 7, 2018 5:04 pm
  • INCOME SCHEDULE - HOUSE PROPERTY
Hi Sir,

Thank you for your video posted. I am able to understand 90% of my form returns for ITR1. One thing I dont understand .Please help me to understand, where to fill the amount.

In my form 16, section 7 has -56760 rs (Minus 58760) which is getting deducted from "Income chargeable under the...
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Amlan Dutta
Section 24 deduction pertains to permissible deductions for income from house property and this is most likely to be home loan interest repayment for the year FY 2017 18 .... you must have declared this loan repayment interest portion to your employer, for considering savings, at the start of the...
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Section 24 deduction pertains to permissible deductions for income from house property and this is most likely to be home loan interest repayment for the year FY 2017 18 .... you must have declared this loan repayment interest portion to your employer, for considering savings, at the start of the year ...you will mention this under income from house property ...see attached picture on where exactly you are supposed to fill this picture ...may make a video for this ...can you help me with a with your form 16 picture (screenshot here or mail to my id which would help me make the video) ....
  • June 7, 2018
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Anushri Jain

Category : Income t..,
Solved
June 7, 2018 2:27 am
  • Income tax
Good evening Sir,

I have a HDFC bank account. Total interest on the saving a/c I got is 12106. But problem is that my form 16 Part B is not showing claimed it under 80TTA as I have not declared it to employer as they neither ask me to do so. So, I have not declared to them. I have filled ITR also w...
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Amlan Dutta
You can only attach picture,/Jpeg files here not pdf .....anyways this is a valid communicatio for proposal of adjustment ...under e proceedings you shall opt yes and agree to the demand...you are then required to file a revised return showing this income as well ....it's very simple, i will see if ...
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  • June 7, 2018
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Anushri Jain
Thank You, for hearing my concern.. Sir...It will be more helpful if you make a video for this..That video will elucidate and clear the things to me in a very lucid way.
  • June 7, 2018
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