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Hemen

Category : Arrear R..,
Solved
June 29, 2018 3:10 pm
  • Arrear Relief under section 89
Dear Amlan
I have a query actualy confusion regarding relief under section 89. I got 7th CPC salary arrear (70%) this FY 2017-18 for the FYs 2015-16, 2016-17 and 2017-18 from my employer. From which they cut 10% towards NPS and showed it u/s 80ccd(1) and 80 ccd(2) for the FY2017-18 AY 2018-19 with re...
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Hemen
you mean, i consider the lump sum amount right. and Amlan i am not get any revise option in case of 10E like ITR -1. i am filling it as it is and it shows original not revised in "view forms". is it correct amlan? thank you amlan.
  • June 29, 2018
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Hemen
Yes it is not processed yet. Thank you Amlan.
  • June 29, 2018
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Shubham Bauskar

Category : TAX CRED..,
Solved
June 29, 2018 2:04 pm
  • TAX CREDIT
Chalan serial number not showing in form 26as of self assessment tax and i don't have chalan reciept
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Amlan Dutta
Actually i believe that the challan number is appearing the remarks column by mistake i.e 51395 .... i think so , because challan number is a 5 digit number and personally i believe that the 5 digit number doesn't make sense in the remarks column ...you can put that in the challan number and proce...
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  • June 29, 2018
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Jagruti Patil

Category : Taxabili..,
Solved
June 29, 2018 12:50 pm
  • Taxability of Interest Income
Hello Sir,
I got Interest on saving account as 11000 on last financial year but I had not declare this income in my Employer.
So this amount and 80TTA deduction is not get reflected on my Form 16.
If I declare this income at the time of ITR filling will it create any problem ?
Can income tax depart...
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Jagruti Patil
I have one more query Bank have not deducted any TDS on this amount so as per my understanding I need not to mentioned this amount in TDS2 section. I only need to mentioned this amount in interest in other sources and in 80TTA section
  • June 29, 2018
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Amlan Dutta
TDS doesn't apply on savings interest...but that doesn't mean that this is not income ...it has to be shown under income from other sources and deduction benefit taken under 80 TTA as i have already replied ...since no TDS deducted , so TDS schedule shall be kept blank...
  • June 29, 2018
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Harsh Chhabra

Category : Income t..,
Solved
June 29, 2018 12:47 pm
  • Income tax
Hi Amlan
I saw your tutorial regarding balance sheet in ITR4 and you said that we should wrtite only the particulars which are related to business in NOB BP but if we want to disclose our other assets also like land, shop, house etc. where can we show them?
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Amlan Dutta
You can show that in asset liability schedule (check attached pictures although this becomes applicable only for total income exceeding 50 lakhs) ....the balance sheet is for the business alone and the fund position w.r.t to it i.e the asset liability position strictly w.r.t business. Though , if yo...
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You can show that in asset liability schedule (check attached pictures although this becomes applicable only for total income exceeding 50 lakhs) ....the balance sheet is for the business alone and the fund position w.r.t to it i.e the asset liability position strictly w.r.t business. Though , if you want to understand the subject better , in case of a propietor business , the business and the propietor (individual conducting the business ) are not considered to be distinct but the return is built in such a manner that you show the business balance sheet separately...P.s the idea behind making balance sheet compulsory is that the department wants to check income figures w.r.t balance sheet ...i.e it should not so happen that person having high net-worth in business is offering a meagre amount for taxation...... You can show that in asset liability schedule (check attached pictures although this becomes applicable only for total income exceeding 50 lakhs) ....the balance sheet is for the business alone and the fund position w.r.t to it i.e the asset liability position strictly w.r.t business. Though , if you want to understand the subject better , in case of a propietor business , the business and the propietor (individual conducting the business ) are not considered to be distinct but the return is built in such a manner that you show the business balance sheet separately...P.s the idea behind making balance sheet compulsory is that the department wants to check income figures w.r.t balance sheet ...i.e it should not so happen that person having high net-worth in business is offering a meagre amount for taxation......
  • June 29, 2018
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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
Until you select category properly, i will also not be answering any further questions
  • July 8, 2018
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