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santosh kumar Sahoo

Category : Taxabili..,
Solved
July 28, 2018 10:29 pm
  • Taxability of Interest Income
I am a salaried employee getting 9lakh PA. my bank FD interest is 16342 and bank deducted 1634 as tax. Where to show my interest 16342 and 1634 in ITR I
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Amlan Dutta
Any taxable interest income is to be offered under other sources only ...so ,you shall show Fixed deposit interest income under other sources... .You will take credit of deducted TDS in TDS schedule ...you can refer to my videos for the same ...
  • November 27, 2018
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sagar patel

Category : Notices..,
Solved
July 28, 2018 4:08 pm
  • Notices
i have filed IT Return in under section 139(9). but actually i have not received notice and not filed before return. my client have need 3 current return for foregone visa purpose so what is possibility of notice from Dept. and how to give replay practically.
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Amlan Dutta
all due returns filed using 139(9) are invalid and shall shortly be rejected ...file fresh return for your clients under section 139(1)...i think the system shall permit ...wrong sections cannot be used for filing returns ....department will not send any notice ...under tax filing status , correctl...
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  • July 28, 2018
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A RAVI

Category : Taxabili..,
Solved
July 28, 2018 3:25 pm
  • Taxability of Family pension( U/s 57)
Namaste Sir Ji,

Could you please tell me regarding ITR for family pension. My father expired 4 years ago and My mother is getting a pension of 21200/ month.

Is this an exempt from tax?? At the same time, We have a commercial Vehicle from which we get an 60000/month in mothers account.

We use to give...
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Amlan Dutta
1.) Family pension is not exempt income and it's treatment is specified under section 57, Basically, family pension is offered as income from other sources
You can calculate using net family pension credited to your mother's account ..
While offering family pension for income , don't forget to take ...
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  • November 27, 2018
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raghav bajaj

Category : Deductio..,
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July 28, 2018 1:47 pm
  • Deduction benefit for House property
Sir, my mother has a residential house property which was purchased 7 years back, until last year we had a mortgage loan on that property in the name of my father amounting to 28 lakhs , in FY 2017-18 on that property we have taken house loan worth 40 lakh in the name of my father out of which 28 l...
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Amlan Dutta
Simply put , if loan has been used for personal purpose , no benefit under 24(b) or 80 C can be taken ..If however, utilization of loan towards property purchase(already constructed) can be shown , you can take benefit ...In this case since the mortgaged loan has been used for personal purpose, as...
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  • November 27, 2018
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