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sunil kumar garg

Category : Interest..,
Solved
June 21, 2018 7:56 pm
  • Interest TDS (U/s 194 A) (10%)
2 fd yearly basis in sbi bank . 1 fd mature on august and other on december....
continue from 2012 on yearly basis.
i always deposit 15g in april of every year.
so i assure that no tds will deduct on my fd. so i ignore bank statements.


but when i see my 26 as .in fy 2017-18 and in fy 2016-17 there is ...
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Amlan Dutta
1. Why bank deduct tds inspite of deposited 15 g. is bank responsible for my tds.
- Bank should not have , you should meet the manager and discuss

2. Can i claim tds fy 2017-18 and 2016 -17
-For FY 2017 18 , yes you can claim back deducted TDS ( watch tutorial)

-for FY 2016 17 since belated per...
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  • June 22, 2018
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Divya

Category : Exempt I..,
Solved
June 21, 2018 2:56 pm
  • Exempt Income
Dividend income from domestic company Under Schedule EI and Dividend Gross under Schedule OS : Is it same . Should we enter the same amount in both fields
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Amlan Dutta
For AY 2018-19, dividends until 10 lakh is exempt ....say someone has earned dividend 11 lakhs , then 10 lakhs shall be exempt and 1 lakhs shall be taxable ...so, he will show using exempt income schedule exempt dividend for Rs 10 lakhs ( this shall remain tax free) and using the other income sour...
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For AY 2018-19, dividends until 10 lakh is exempt ....say someone has earned dividend 11 lakhs , then 10 lakhs shall be exempt and 1 lakhs shall be taxable ...so, he will show using exempt income schedule exempt dividend for Rs 10 lakhs ( this shall remain tax free) and using the other income sources show taxable dividend income of Rs 1 lakh ( this will be taxable).... For AY 2018-19, dividends until 10 lakh is exempt ....say someone has earned dividend 11 lakhs , then 10 lakhs shall be exempt and 1 lakhs shall be taxable ...so, he will show using exempt income schedule exempt dividend for Rs 10 lakhs ( this shall remain tax free) and using the other income sources show taxable dividend income of Rs 1 lakh ( this will be taxable)....
  • June 22, 2018
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Divya
Awesome, many thanks Amlan.
  • June 22, 2018
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Divya

Category : Income t..,
Solved
June 21, 2018 1:13 pm
  • Income tax
Hi Amlan ,

First Part :

I had redeemed few of my stocks and MF after 12 months gap and elss after 3 years gaps in Dec 2017.I have to fill STCG as well as LTCG . So LTCG come around 183K . STCG I am yet to do . I also had surrendered a pension plan of LIC before its term. Could you tell me 1) wher...
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Amlan Dutta
1.) LTCG realized in Dec 2017 is exempt

2.) If you surrender your pension plan before maturity, the surrender value will be added to your income and taxed as per your slab..This income will be added in income from other sources ...in case you took any 80 C benefit of the pension plan , that all wil...
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  • June 21, 2018
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Divya
Thank you Amlan ..lot of it answers .. I will fill up ITR and see how it looks like .
  • June 21, 2018
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Mahendrakumar Kolhe

Category : How to s..,
Solved
June 21, 2018 11:59 am
  • How to show Gift from relative in return(U/s 56(2)
A daughter (NRI) wants to transfer her Tax Saving Bonds (Demat form) in her Mother's (RI) name.

What will be the tax implications for both of them?
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Amlan Dutta
The tax treatment of gifts in this case is guided by Section 56(2) of income tax act 1961....However, note that gifts received by by relative is exempt from levy of tax in the hands of the donee

Here, since daughter falls under relative purview, any sum of money received from assessee by daughter i...
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  • November 27, 2018
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