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SANJAY RAMESHBHAI SOLANKI

Category : Income t..,
Solved
April 28, 2018 4:40 pm
  • Income tax
Hi sir,
i want to sale my house & purchaser wants to pay 500000 cash & bal.amt. by chq.
is there any restriction & provision regarding cash limit for receiving & giving.
please guide me ?
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Amlan Dutta
Well, what it means is that he wants to pay unaccounted 5 lakh rupees ( black money) and remaining accounted (white money) ...better take whole sale value in white to avoid problems later on ...whatever is the agreement value ,take the whole money in white ...say agreement value is 40 lakhs ...take ...
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  • April 28, 2018
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NIRAJ SINGH
You may also refer Sec 269ST. Watch this video

https://youtu.be/ke0gJDja_Io
YouTube
  • April 29, 2018
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NIRAJ SINGH

Category : Income t..,
Solved
April 28, 2018 10:14 am
  • Income tax
My Query is:- What to do in this Scenario to resolve such Tax Credit Mismatch issue
My Sir had filed his Income Tax Return for the AY 2017-18 & TAX Credit Mismatch of Rs11512 is shown
I am attaching 3 Pics:-
a) Screenshot of Tax Credit Mismatch screen
b) Form 26AS
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Amlan Dutta
You surely are eligible for credit, since the figure is appearing in your tax credit statement .. you can apply for rectification and select the tax credit mismatch option .....check this video out , it should help understand the process on how to submit rectification request

Video Link - https://www...
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  • April 28, 2018
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NIRAJ SINGH

Category : TCS..,
Solved
April 28, 2018 9:58 am
  • TCS
Form 26AS pic is attached. Please tell me the TAX Treatment for the AY 2018-19
My friend has taken a Car Loan of Rs1134990 & Form 26AS shows TCS of Rs11350
My Query is:-
a) Can we claim TCS of Rs11350
b) Where we will show Rs1134990 (i.e., Amount Paid)
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Amlan Dutta
a.) He can surely claim credit and he shall be doing it in schedule TCS for the same ....

b.) The amount paid shall be depicted under under Schedule TCS, column 3
(Note the loan amount is not income and therefore not to be shown in the income s...
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a.) He can surely claim credit and he shall be doing it in schedule TCS for the same .... <br /> <br />b.) The amount paid shall be depicted under under Schedule TCS, column 3 <br />(Note the loan amount is not income and therefore not to be shown in the income schedule at all , it is just to be depicted in the amount paid portion of the tax details schedule)
  • April 28, 2018
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NIRAJ SINGH

Category : Income t..,
Solved
April 28, 2018 9:12 am
  • Income tax
TDS under section 194A is deducted. Two information is given----
1) TDS Amount.
2) Amount Credited on which TDS is deducted.

My query is "Amount Credited is inclusive of both Fixed Deposit's interest & Savings Interest or It shows only FD's interest
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Amlan Dutta
Amount credited is just reflective of FD interest ...for savings , you can take the statement and sum up the interest credit entries
  • April 28, 2018
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