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Sai K

Category : TDS Cred..,
Solved
July 2, 2018 1:56 am
  • TDS Credit
Hi Amlan, All,
I am filling ITR-2 (TDS schedule 2). I am claiming the tax credit as per my Form 26AS.

I see that the structure slightly differs from that of ITR-1's TDS Schedule-2. Need quick help on the right way of filling this sub-section

TDS credit in the name of : self
"Tax Deduction ...
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Amlan Dutta
This is basically a question of being able to take tax credit on account of deducted TDS and i see your confusion just lingers over claiming of tax credit in own hands ...
Since you have figures of TDS , i will use your own figures .... ...
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This is basically a question of being able to take tax credit on account of deducted TDS and i see your confusion just lingers over claiming of tax credit in own hands ... <br /> Since you have figures of TDS , i will use your own figures .... <br />Total amount credited: 9000 <br />Name of deductor: ABC Bank <br />Tan: HYDB01657F <br />Total Tax Deducted: 1030 <br />Total TDS deposited: 1030 <br /> <br />(Check attached ITR sheet for how to depict these , i changed TAN because that is invalid number) <br /> TDS credit in the name of : self <br /> TAN of bank - HYDB01657F<br />Name of Deductor : ABC bank <br />Deducted in own hands Col (7) : 1030<br />Claimed in own hands Col (9)" : 1030 ( here , you may decide not to claim credit and rather carry forward a part of the credit and therefore this option ...you must claim deducted TDS totally for tax credit and therefore this option. Now when you see Tax paid and verification you will see the credit reflect else the deducted TDS wont appear there unless you show it being claimed in your hands.
This is basically a question of being able to take tax credit on account of deducted TDS and i see your confusion just lingers over claiming of tax credit in own hands ... <br /> Since you have figures of TDS , i will use your own figures .... <br />Total amount credited: 9000 <br />Name of deductor: ABC Bank <br />Tan: HYDB01657F <br />Total Tax Deducted: 1030 <br />Total TDS deposited: 1030 <br /> <br />(Check attached ITR sheet for how to depict these , i changed TAN because that is invalid number) <br /> TDS credit in the name of : self <br /> TAN of bank - HYDB01657F<br />Name of Deductor : ABC bank <br />Deducted in own hands Col (7) : 1030<br />Claimed in own hands Col (9)" : 1030 ( here , you may decide not to claim credit and rather carry forward a part of the credit and therefore this option ...you must claim deducted TDS totally for tax credit and therefore this option. Now when you see Tax paid and verification you will see the credit reflect else the deducted TDS wont appear there unless you show it being claimed in your hands. +2
  • July 2, 2018
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Sai K
Thank you Amlan..


All, for your information -
I also found an old related video (by Amlan). For the benefit of others, here is the link: https://www.youtube.com/watch?v=S6OSkplYmO8
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  • July 2, 2018
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Prashant Kumar

Category : Taxabili..,
Solved
July 1, 2018 11:10 pm
  • Taxability of Family pension( U/s 57)
Hi Amlan,
Since last year my mother is getting Monthly Family pension. You have mentioned in one of your recent videos that it is calculated under Income from other sources. I have 2 question related to that
1. Do we need to request the employer for tax forms to get the exact pension amount. Not sur...
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Amlan Dutta
Yes, under section 57, family pension is treated as income from other sources

1.) Form 16 is a salary TDS certificate , you wont get any such TDS certificate for family pension

2.) You can calculate using net family pension credited to your mother's account ..

While offering family pension for income ...
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  • July 2, 2018
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Hemant Kolte

Category : Taxabili..,
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July 1, 2018 10:06 pm
  • Taxability of Gratuity
Hey Amlan,
For the year 2017-2018 my raise letter contains salary bifurcation which include gratuity around 17 K but neither included in my salary slip nor in Form 16.
is gratuity is exempted? what should i do ? . I work for private company and not going to retire soon
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Amlan Dutta
Any gratuity amount received by an employee (Govt or Private employee) during his service is taxable. In your form 16 , the gross salary must already contain gratuity not showing it separately and since it is not exempted so it does not reflect in section 10 exempt allowances as well. You simply fi...
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  • July 3, 2018
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DAHIPHALE BALAJI NAGNATH

Category : 26 AS TD..,
Solved
July 1, 2018 9:51 pm
  • 26 AS TDS not prefilling ITR
Amlan sir I m filing itr for my father assement year 2018 19 when I entered the details form 16 and 26 as showing that tax deduction is 9081 ...But, in ITR when i check, it prefills with 6043 Rs plz solve my problem I'm sending copy of form 16
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Amlan Dutta
If salary TDS schedule is showing different figures, you can always edit it to show correct salary TDS figures from 26 AS ...leave TCS, IT schedule blank if they don't apply to your case .

( Question has been edited ...Please draft questions properly in future )
  • July 3, 2018
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