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Nilesh Patil

Category : Refund R..,
Unsolved
July 29, 2018 2:02 pm
  • Refund Return
Dear Sir,
i am salaried person, i want to file income tax Gross salary is 2,20,000 and i am also LIC agent so my LIC commission is Rs.23,023 and on commission LIC is deduct TDS Rs.1,152.

Where do i show LIC income in ITR 1 and how do i get refund of my deducted TDS amount?
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Vishal D

Category : Tax Comp..,
Solved
July 29, 2018 1:31 pm
  • Tax Computation
Sir

Bank has already deducted TDS of 10 percent on FD interest. So if I show the whole amount under income from other sources, since I fall in 20 percent bracket it shows 20 percent as TDS to be paid but I only want to pay 10 percent remaining. Then how do I put the amount under income from other s...
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Amlan Dutta
The taxes will get computed at 20 % but since you have already paid 10 % , so despite computing tax as per slabs ( say it works out to be 20% ), you will get credit of TDS paid of 10% which you will be claiming in TDS schedule ( schedule2) and in effect required to pay only balance ( tax liability -...
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  • July 29, 2018
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Vishal D

Category : Tax Comp..,
Solved
July 29, 2018 12:06 pm
  • Tax Computation
Sir,

1.Under 26AS form, an income is showing from Regional office i.e. 194A but I do't know what income is that, as I have not got that income. So do I still need to pay TDS on that amount.And how can I rectify or remove that amount which is showing against Regional office.

2.Under form 26AS the amoun...
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Amlan Dutta
1.) Take up with the regional office ...it is some kind of interest income since TDS u/s 194 A denotes interest income...perhaps they have deducted for some other employee with identical PAN and put your PAN in their place ....unfortunately since it appears in your 26 as , assessing office may call ...
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  • July 29, 2018
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PARTHA SARATHI MAJEE

Category : Arrear R..,
Solved
July 29, 2018 9:04 am
  • Arrear Relief under section 89
Amlan sir, Is there any specific rule of calculating arrear ...
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Amlan Dutta
I don't have time to go through all these but i get your point... in short , whether you got relief in those years for arrears credited in those years from earlier years is irrelevant and doesn't prevent /alter the computation method for arrears received in the income year ...........................
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  • August 31, 2018
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