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RASHMI VARSHNEY

Category : Demand u..,
Solved
July 10, 2018 3:41 pm
  • Demand under section 143(1)a
Good Morning Sir,
my query is
a salaried person not mention his interest income in itr-1 , He received a INTIMATION U/S 143(1) OF THE INCOME TAX ACT, 1961 from the department whose responses were given in the same month but forgot, now he has got a demand letter of 154, what should he do and how?
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Amlan Dutta
I think , he is agreeing to the demand ...in case , that is true, he is required to pay the demand using challan 280 ...That's all there is to it ...

Next time be careful to select question category properly else entry shall be deleted ...also question without categories shall not be answered.......
  • July 11, 2018
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Abhishek Kumar

Category : How to f..,
Solved
July 10, 2018 2:46 pm
  • How to fill salary income in TDS schedule
My Form 16 part A shows,
Summary of amount paid/credited and tax deducted at source thereon in respect of the employee, Total = Rs. 5,67,014

My Form 16 part B shows,
Salary as per provisions contained in sec.17(1) = Rs. 5,67,015
Less :Allowance to the extent exempt u/s 10 = Rs. 89,987
Less Dedu...
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Amlan Dutta
Firstly , Rs 4,74,628 is your chargeable income and not gross total income ...the concept here floats like this that it is this chargeable income from salary which is finally chargeable to tax and not gross salary income i.e 5,67,015 ....Form 26 as usually prefills the gross salary income in the T...
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  • July 10, 2018
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AYUSH
Yep abhishek you have correctly reported hra and conveyance allowance.
  • July 10, 2018
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Debkanta Paul

Category : Stocks (..,
Solved
July 10, 2018 1:05 pm
  • Stocks (delivery)
Hi Amlan I am doing intraday & delivery based trading and I want to show them as business income .
1)Then what will be my total turnover?( Is it the addition of intraday + delivery turnover)
2) If the total turnover is less than 2 crores but more than 20 lakhs and I want to opt for Presumtive scheme 4...
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RAJ
1) add both T.O
2)fill ITR 3
  • July 10, 2018
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Amlan Dutta
1.) Delivery trades are not considered in business income , rather it is a part of capital gains

Only intraday or Future and options contracts entered into are to be used for turnover computation ...ITR 4 can't be used if income from capital gains is there( However if such is exempt than it can be...
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  • July 10, 2018
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Narendra Rawat

Category : Selectio..,
Solved
July 10, 2018 10:29 am
  • Selection of Return
Sir my main source of income is coaching centre i teach students upto 12 class my earning is 400000 pa around , no books of account i want to know that should i show this in Buiseness income or professional income,which ITR should i file
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RAJ
its business. fill ITR 3
  • July 10, 2018
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Lokesh Jangid
Yes Narendra Rawat You can file ITR U/S4 44AD
  • July 11, 2018
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