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sagar patel

Category : BASICS O..,
Solved
August 8, 2018 6:43 pm
  • BASICS OF INCOME TAX
Dear Sir, i have income from speculative business so which head in show my income. like PGBP or income from Capital Gain and can i deduct expenses related to speculative business.
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Amlan Dutta
when you are yourself mentioning business , how can you think of showing income under capital gains head .....you can surely take expenses benefit.....there is nothing that prevents taking eligible expenses benefit under business head ...non eligible expenses shall however be disallowed
  • August 8, 2018
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MOHAMMEDYASIN

Category : Taxation..,
Solved
August 8, 2018 6:15 pm
  • Taxation of Post office interest
Is post office RD of 5 years is taxable? If yes, where is to display in income, also, it is exempted or not. Is interest of RD is exempted under 80TTA, i.e my saving interest is 8500 and RD interest is 15000, how to calculate in return.
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Amlan Dutta
Yes, Recurring deposits( doesn't matter whether in Post office or banks) it is taxable under income from other sources ...No exemption of 80 TTA is available on RD ...that is available to only saving interest...you will show under other sources 23500 and claim under 80 TTA 8500rs
  • August 8, 2018
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NAWNIT KUMAR

Category : INCOME S..,
Solved
August 7, 2018 1:28 am
  • INCOME SCHEDULE - CAPITAL GAINS
Hey! I bought some property few years back and sold that in last FY, and bought another property in my wife's name. Do I need to pay tax for the total amount of property?
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Amlan Dutta
It is preferable to buy property in your name ...anyways , if you have invested the capital gains in the new property , you can still benefit of capital gains exemption.......
  • August 7, 2018
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PARTHA SARATHI MAJEE

Category : Rectific..,
Solved
August 6, 2018 5:12 pm
  • Rectification u/s 154
Dear Amlan , first of all very very greatful to u for your precious it related information.Today i was called by higher authority of cpc by mobile for my query as asked to u by me in earlier query category"how to fill 10e".He told me according to current utility of 10e you have to fill AY for respec...
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Amlan Dutta
Earlier the three options would include " reprocess the case"...that is what is required here ....i.e no changes , but simply reprocessing is required ....
  • August 7, 2018
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Amlan Dutta
Can you please attach the screenshot of rectification options
  • August 31, 2018
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