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Ankit shakya

Category : Deducted..,

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July 29, 2018 8:20 pm

Hello sir,
bank deducted TDS on my FDs but not reflected in 26 AS what should I do while FD interest is below 10000rs
Plz help how to refund my TDS
Thanks

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Amlan Dutta

Take up with bank for revising TDS returns so that deducted TDS starts appearing in your tax credit statement.....Until TDS deducted deposited doesn't reflect in 26as , you cannot take credit of the same in the tax return.....

August 1, 2018

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Anmol SHARMA

Category : Communic..,

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July 29, 2018 7:48 pm

Sir in form 16 my investment detail are more then I actually invested. And I am filling ITR According my actual investment. So there is difference in ITR income and form 26 and form 16. My income is less then 3 lakh and no tax due in both cases. Is it ok that in future no problem would aries ?

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Amlan Dutta

Proposal for adjustment of income on account of difference between taxable income in form 16 /26 as and filed return may arise but it would make no difference because in either case taxable liability is zero ......

May 2, 2019

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Kapur

Category : Multiple..,

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July 29, 2018 5:35 pm

Hi Amlan, Thank you for making knowledge genuinely free through the work you have put in over the years.

My query is, I have received 2 Copies of PART A (Form16) from my company as they had changed their entity/ PAN/ TAN. Q1 is separate while Q2+Q3+Q4 are together and only one PART B is available. H...

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Amlan Dutta

Refer to your form 26 as , the breakup of income along with TDS credit would would be outlined clearly there ...

May 2, 2019

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Preetam

Category : Income f..,

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July 29, 2018 3:38 pm

What amount is required to be filled in Letable value?

I bought the house on Dec 28, 2017 and the Tenants were already occupied for rent. I only continued the rent of rs 5000/Month with them with rent agreement starting from Dec.
My doubt is, What amount needs to be filled in for this Assessment year?...

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Amlan Dutta

This falls in category -House property which was partly let out and partly vacant during the year....in such cases where house property was partly let out and partly vacant during the year, there are two scenarios which affect the actual rent received owing to such vacancy ....
For you the rent is to be considered 60,000 rs only (Scenario 2 applies to your case ) .........................
Scenario 1 - When the actual rent received or receivable is more than the expected rent despite the vacancy , in that case the gross annual value is taken as actual rent received as it is higher than the expected rent ...expected rent is higher of the of the municipal value or fair rent .....

Scenario 2 - When the actual rent received or receivable is less than the expected rent due to the vacancy of the property for some time during the year ......The gross annual value shall be actual rent received or receivable (For period let out) for calculating Income under the head House Property even if same is less than Deemed Annual Value. This provision is brought to ensure that an assessee is not harassed in cases where he has already lost rent for few months.
Act " Section 23(1)(‘c) is “where the property or any part of the property is let and was vacant during the whole or any part of the previous year and owing to such vacancy the actual rent received or receivable by the owner in respect thereof is less than the sum referred to in clause (a), the amount so received or receivable”.

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November 26, 2018

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Amlan Dutta

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November 26, 2018

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