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Arun Mishra

Category : Clarific..,

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June 30, 2018 5:51 pm

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Clarification over income head

Dear Sir
I have Income from interest on FDRs & SB and one time honorarium for checking answer books in one institutional examination. As advised by you earlier, I want to file ITR-1 and show both the aforesaid income as Income from Other sources (IFOS). But, in ITR-1, I find only one row “B-3”. ...

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Amlan Dutta

I thought i already answered this , you will club the income from both and offer it under income from other sources.....

June 30, 2018

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Arun Mishra

Category : Clarific..,

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June 27, 2018 7:41 pm

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Clarification over income head

I have pension from a PSB and interest on FDRs & SB a/cs. I have three questions as under:

(1) During FY 2017-18, I received one time honorarium for being an examiner to evaluate the answer books of an examination conducted by an accounting institution. On this honorarium, TDS is deducted u/s 194J....

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Amlan Dutta

1.)The income received by evaluating the answer books of an examination can either be treated as Income from Other Sources or professional income ...In this case better to treat as income from other sources and file ITR 1
If it is treated as Income from Other Sources - you can simply file ITR 1
If i...

1.)The income received by evaluating the answer books of an examination can either be treated as Income from Other Sources or professional income ...In this case better to treat as income from other sources and file ITR 1 <br />If it is treated as Income from Other Sources - you can simply file ITR 1<br />If it is treated as Income from profession - you would be required to file ITR 3 <br /> <br />2.) Yes you can do it, check attached picture for the same on where you need to show it in ITR <br /> <br />3.) If you are using the quickfiling utility online, it gets filled automatically , but sometimes , it doesn't prefill correctly ...you may edit to fill correct figures .....

June 27, 2018

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PANKAJ SHUKLA

Category : Clarific..,

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May 16, 2018 11:18 pm

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Clarification over income head

Dear Sir,
In my salary SBI account there is auto sweep facility. Here is some of the amount is auto transfered in this account (sweep account) and interest is credited. My question is that interest on sweep account is taxable or not? How and where to show saving account interest and sw...

Amlan Dutta and PANKAJ SHUKLA

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Amlan Dutta

This is treated as saving interest ( taxable)income iand to be shown in income from other sources ( infact remember that any taxable interest income is always to be offered as income under head ' income from other sources only '.....

May 17, 2018

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