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DIVYANSH TRIPATHY

Category : Exempt g..,
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July 20, 2019 1:07 am
  • Exempt gift income u/s 56(2)(iv)
Thanks sir for your earlier response, i have two question

1.) give and take transaction means i ( i am not taxable person below threshold limit ) gave rs 10000 to my brother , he is taxable person. he refund me the same amount after 2 month . it is just an reverse transaction. how to show rs 10000 ...
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Amlan Dutta
1.) Give and take doesn't translate to income for either parties ...it need not be shown in ITR 1 2.) If it is given in form of gift , it is exempt else not , but better to show it as gift .....he will show it as exempt under exempt income reporting section using other field and mention gift from...
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  • July 20, 2019
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Vicky

Category : Income t.., DTAA IN.., Tax paym..,
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July 20, 2019 12:36 am
  • Income tax
  • DTAA INDIA USA
  • Tax payment
Hi Amlan,
Thanks for replying to my post earlier regarding which ITR to filed while I worked 6 months as Employee and 6 months as Technical Consultant for FY 18-19(AY 19-20). You told to file ITR4.
I have a foreign account in US in which i got my last Salary in Feb 2018...FY 18-19 (AY 19-20) I have b...
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DIVYANSH TRIPATHY

Category : Return f..,
Solved
July 19, 2019 9:04 pm
  • Return for Salary, Interest
hello sir, thanks for your video on youtube it really help me a lot. i have one question. my brother receive salary of rs 600000 p.a and he also received cash of rs 35000 as a part time tution. i understand the salary part but where to show rs 35000 ( part time tution fee received in cash deposited ...
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Amlan Dutta
He can show it under income from other sources in ITR 1 and use the any other field and under description mention tuition income!( Refer attached image)
He can show it under income from other sources in ITR 1 and use the any other field and under description mention tuition income!( Refer attached image)
  • July 20, 2019
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Chetan Yewale

Category : DTAA.., Income t.., Tax paym..,
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July 19, 2019 5:29 pm
  • DTAA
  • Income tax
  • Tax payment
Hi Amlan,I have some income earned from UK. In Aug 2018, I returned back to India. I then transferred my earnings over there back to India in my savings account here. I have paid the taxes in the UK.Then from September 2018 - my salary income in India started.Please let me know if1. I need to disclo...
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Amlan Dutta
Since you have been in india for more than 182 days you are a resident and hence your UK income is taxable as well .....You will claim tax relief on doubly charged UK tax as per DTAA tax relief mechanism laid out ( not possible for me to illustrate here ) ...you can use ITR 2 , shouldn't be a issue
  • July 20, 2019
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