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Sudarshan patidar

Category : Section ..,
Solved
May 14, 2018 4:14 pm
  • Section 119(2)(b) Delayed filing
Hi Amlan,

How to raise condonation request for delay for filing of returns not filed for FY 2015 16 and 2016 17 upto 31st March 2018
Assessee has genuine hardship ( he suffers serious disease like heart block and refund amount is 55,000.
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Amlan Dutta
The condonation process is not online and has to be done through paper application to CIT under section 119(2)(b)... go and meet him if possible through representation or assesse himself ...Once condonation approved, return filed using section 119(2)(b) shall be processed by the assessing officer ...
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The condonation process is not online and has to be done through paper application to CIT under section 119(2)(b)... go and meet him if possible through representation or assesse himself ...Once condonation approved, return filed using section 119(2)(b) shall be processed by the assessing officer <br /> <br /> Now, to give some background , the section 119(2)(b) offer's relief to taxpayer in terms of filing but with permission <br /><br />Section 119 of the Income Tax Act, 1961 is about to Instructions to subordinate authorities providing measures for the purpose of efficient management of the Revenue and give relief from undue hardship to the assessee.<br /><br />Section 119(2)(b) provides that CBDT for avoiding genuine hardship authorize income tax authority to admit an belated application or claim for any deduction, exemption, refund or any other relief even after the expiry of the period specified under the Act for making such claim or application.<br /><br />However, note no Condonation for claim of refund or loss shall be entertained beyond six years from the end of the assessment year for which application or claim is made. The limit of six years is uniform for all authorities considering the application or claim.<br /><br />Eg:- Suppose , belated period of filing is over and someone could not submit return due to genuine hardship and has excess TDS interest credit ( from banks) for which he seeks refund , he can use this section to his benefit <br /> <br /> In this case assesse has genuine hardship so he will apply for condonation request to principal commissioner /CIT( since value is less than 10 lakhs) ....He will also use offline utility and select section 119(2)(b) to file this return ...once condonation request is accepted , the filed return shall be processed by the assessing officer Not immediately , but i may make shortly tutorial for this subject.
  • May 14, 2018
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Ace Wings

Category : Selectio..,
Solved
May 14, 2018 1:58 pm
  • Selection of Return
Hi Amlan, For AY 2018-19,
For an Indian doctor residing in India and practising in a rented polyclinic and having stocks and mutual funds & doing some activity as stargazing or private coaching as income sources, and income around 2 lakhs, is ITR-3 the correct form to fill? Do you have a tutorial te...
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Amlan Dutta
Am assuming the following.......................
AY 2018 19 - Non senior resident individual
...
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  • May 14, 2018
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Ace Wings
Thank you.
  • May 14, 2018
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Korak Das

Category : Refund R..,
Solved
May 13, 2018 8:04 pm
  • Refund Return
Hello Sir,
I am an Insurance Consultant by profession. So, as per rules TDS deducts from my commission once it cross ₹15,000.
Sir, i would like to know how do i file return to apply for TDS return at home by myself? Already i have logged in IT portal.
I will be very glad to have your kind reply.
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Amlan Dutta
Am assuming the follwing
AY 2018 19 - Non senior resident individual

Taxability of income is as per income slabs ....If your total scope of taxable income falls below threshold level ( 2.5 lakhs) then you can claim refund of any tds deducted .....you may decide to use section 44ada and show income...
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  • May 14, 2018
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BISWARANJAN SWAIN

Category : Exempt P..,
Solved
May 13, 2018 6:49 pm
  • Exempt PF interest
Dear Amlan
There's an interest credit of 10000/- in my SBI PPF A/C in FY 17-18.My question is whether it's mandatory to show this income in ITR? If so then which section it would be. 10(11) or 10(12) or any other?
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Amlan Dutta
Am assuming the follwing
AY 2018 19 - Non senior resident individual

Show under exempt reporting schedule .... exempt Under section 10 (11).... Check my tutorial on how to show exempt income im tax return....
  • May 14, 2018
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