Categories
Normal Grid Pagination Scroll
Saptarshi Kundu

Category : DTAA..,
Solved
July 28, 2019 10:19 am
  • DTAA
I work in a MNC, and currently at Canada. My tax residency is Canada for the FY18-19, and while filling the ITR2 for the FY18-19 I got confused on where to show my Foreign Income from Salary. I believe it should be declared under EI (Exempted Income) - however not sure where exactly I need to show m...
View More
  • Hide Placeholder
  • Hide Discussion
Amlan Dutta
If your taxable residential status for FY 2018 29 is non resident , the Canadian income doesn't fall under scope of indian taxable income ....

i personally don't believe that it has to be offered under exempt income head as well ......the articles of DTAA putting in tax relief by credit /deduction/e...
View More
  • July 28, 2019
  • LikeLike
  • 1 person
  • Select as Answer
Kalyan Ghosh

Category : Income t..,
Solved
July 28, 2019 7:54 am
  • Income tax
My son works in a Multi National Company.He has purchased some Mutual Fund Schemes ans Shares in 2018-19,but so far has not sold anything.NO CAPITAL LOSS OR GAIN.
1)In what ITR Form(Probably ITR 2) Mutual Fund Schemes ans Shares are shown
2)If there is no sell ie NO CAPITAL LOSS OR GAIN.is it mandator...
View More
  • Hide Placeholder
  • Hide Discussion
Amlan Dutta
This is troubling many people, but please understand that the investment into Mutual funds and shares doesn't translate into income by itself ...it translates to income/loss when they are redeemed (sold) ...here, since assesee hasn't sold there is no question of loss /gain and as such they cannot be...
View More
  • July 28, 2019
  • LikeLike
  • Select as Answer
Prasad Shirodkar

Category :
Solved
July 27, 2019 9:14 pm
Dear Sir:
I apologize for making repost. I am able to upload image now. I can see it in preview.
In my form 16A, the total tax deducted from my employer is Rs.72388. I also have interest from FD. The tax deducted on this interest is Rs. 1492. But the TDS credit claimed out of (5) is entered as 0. D...
View More
  • Hide Placeholder
  • Hide Discussion
Amlan Dutta
Yes you have to take the credit , what it means is that 1492 was deducted as tax and if you keep credit field 0 means that though 1492 was deducted, you want to claim nothing of it which would be bizzare so therefore you shall claim whole credit of 1492 rs deducted TDS to towards discharge your tax ...
View More
  • July 27, 2019
  • LikeLike
  • Select as Answer
Gurjaint singh

Category : Exempt I..,
Solved
July 27, 2019 8:57 pm
  • Exempt Income
Dear sir
My father was expire in a road accident on dated 13/09/2000
My MACT case was pending in punjab& haryana high court since 18 years
High court give his final decision on dated 08/08/2018 and order the new india insurance company give compensation 715200
And paid interest 9% annum 18 years Rs 1158...
View More
  • Hide Placeholder
  • Hide Discussion
Amlan Dutta
The compensation is surely tax free ..as regards the interest , a plea has been filed by advocate Amit Sahni, who has sought quashing of Section 194A(3)(ix) of the Income Tax Act, 1961 (as amended up-to-date), which mandates to deduct tax upon the interest accrued upon the award and compensation gr...
View More
  • July 28, 2019
  • LikeLike
  • Select as Answer