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Roopali Lalwani

Category : TDS Retu..,

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January 30, 2019 2:48 am

Hi,

I failed to submit the investment proofs to my employer before their deadline. I want to understand how should I claim the 80C deductions while filing the returns? We use form 16 to fill ITR and in this case, 80C investment in my form 16 will be 0.

While filling the ITR, do I just enter 1,50,000 ...

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Amlan Dutta

You can file as per actuals , if you have invested in eligible investment under 80 C , you can claim that deduction despite having not declared that in investments to the company . You don't need to attach anything but your case is likely to be auto picked by system for mismatch in form 16 and filed...

January 30, 2019

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Roopali Lalwani

Could you please share a link to your video? I had a hard time finding it yesterday, maybe I am not looking for the right keywords.

January 31, 2019

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Amlan Dutta

Sorry at present i lack the time for all this ...i will see if i can create a video library later for the site

January 31, 2019

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Amlan Dutta

January 30, 2019

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Vipin Ambedkar

Category : Intimati.., How to c..,

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January 29, 2019 9:36 am

Hi sir,
My friend name is jitendra kumar , In ay 2018 -19 he filing itr1 with form 10e by CA
Income tax department has sent intimation u/s 1431a outstanding demand 16920₹ on date 12/12/2018 .my friend share this case with me .i saw the form 10e that CA putting the wrong amount relief claim u/s 8...

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Amlan Dutta

You have yourself already identified the mistake , the difference amount is what the department is claiming ...check whether the form 10 E figures under salary arrears is actually 15478 or the employer made a mistake Why has the CA put in 32513 Rs....Typically some do such false figure represent...

January 29, 2019

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S V

Category : TDS on i..,

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January 27, 2019 12:09 pm

Hi,
My 26AS shows Rs. 1 Lakh tax deducted at source by HDFC Bank.
I have claimed this 1 Lakh as TDS in my ITR-2 (claimed full amount in current year, no b/f or carry fwd.)
However, in Income Tax Dept. intimation u/s 143(1) they have considered only 90,000 as TDS (in calculation by ITD) and raised a de...

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Amlan Dutta

Simple, you shall file a rectification for tax credit mismatch ...check my tutorial on how to do this in case you are not sure of the steps ......(since your tax credit statement shows TDS of 1 lakh ( hopefully under "F" implying accounts finalised ", you are entitled to full credit of the deducted ...

January 27, 2019

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S V

Hi,

In the Income Tax Dept. website, there is an option to view the Tax Credit Mismatch (My Account >> Tax Credit Mismatch). I did that and found out that HDFC Bank TDS CLAIM AMOUNT is 1,00,000 whereas AMOUNT AVAILABLE IN 26AS is 93,000.

On downloading 26AS (My Account >> View Form 26AS (Tax Credit))...

January 30, 2019

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Amlan Dutta

January 27, 2019

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Joydeep Chakma

Category : Income t..,

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January 27, 2019 10:23 am

Amlan sir, can you please explain me about declaring the investments for IT returns?

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Joydeep Chakma

Sir that means declaration of these investments needs to be done for the ones who do job? I meant, only those who are employed need to declare such type of investment for IT Returns ? If no, sir please tell us how can we declare our investments ? Sir can we find how these things are done in the vid...

January 30, 2019

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Amlan Dutta

For employer like already explained they need to deduct TDS on taxable income ...taxable income is salary - savings and therefore it is required to be provided......ELSS qualifies for savings under 80 C and therefore details needs to be provided to the employer ...say salary 10 lakhs and ELSS investment 1.5 lakhs , if you don't provide ELSS details of investment then the employer will not consider 1.5 lakh benefit and consider taxable income 10 lakhs while deducting TDS and hence deduct more TDS...if you provide details then employer will consider taxable income 8.5 lakhs for deducting TDS ....as far as income from ELSS is concerned , until you redeem the ELSS (sell ELSS) , there is no question of income ( which i can't keep repeating 100 times)...and just so that you understand the concept , please note that the banks are also required to deduct TDS but not on taxable income but on interest income( and likewise for other deductors barring employer deductor ) ...for interest income it is merely TDS at 10 % and so no need of giving bank deductor details of deductions because for them the required expense is interest on which they have to deduct TDS and not interest income - deductions ...and this is same for all other deductors and therefore we don't provide details of investments to anyone else because no other deductor requires taxable income for deducting TDS ...you may ask what if they deduct more, they cant and even if they do , you can claim refund while filing return ... ...i will make a video for this but i cannot keep solving such basic questions again and again ....request that you watch my basic video series so that first the basic concepts get clear , this site cannot teach you basics ...that you will have to learn by reading books or watching videos ...this site can only help in addressing queries once those basic concepts are clear ...that said, i won't mind others answering you , but personally i lack the time to do all these ...you can see how india works ...noone is answering questions despite such a platform being provided but will say big big words .

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February 3, 2019

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