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Ujjwal Kundu

Category : 80TTA - .., TDS on i.., TDS..,
Solved
March 9, 2019 5:50 pm
  • 80TTA - Income from interest on saving banks Accounts
  • TDS on income other than salary
  • TDS
Dear sir
My FD interest is 8000 and my SB account interest is 7000;
Does bank deduct TDS as total interest income is 8000 + 7000 = 15000 ?
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Amlan Dutta
Bank does not deduct TDS on saving interest ...even in FD , bank will not deduct TDS if interest income is below 10,000 rs ...however both interest are taxable and have to be shown in income from other sources ..
i.e under income from other sources you will show 8000+7000 =15000 Rs as interest inco...
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  • March 9, 2019
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Asha Bernard

Category : 44ADA ( ..,
Solved
March 9, 2019 2:32 pm
  • 44ADA ( Profession)
Hi Sir
I had filed an ITR for professional income under ITR 3 for which I received a defective return as my income exceeded 2.5L and I did not maintain books of accounts.
Now I would like to file a response and adopt presumptive taxation under 44ada. So can I file ITR 4 as response?
Also when I fill in...
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Amlan Dutta
Assesse can change return under curing, but not all professions can use presumptive taxation under 44ADA ...your profession has to be specified profession ..only then you can use 44ADA ...as regards , financial particulars , you only need to financial details particular to profession
(I have...
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  • March 9, 2019
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Ujjwal Kundu

Category : Refund f..,
Solved
March 9, 2019 1:08 am
  • Refund for Bank deducted TDS
TDS deducted from FD account and after filling return and claiming refund it is reflected in SB rather than FD account. Is it right sir?
Actually people invest in FD, in order to get a certain figure but each year TDS deducted & they received the refund value in SB account. Simply they will get less...
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Amlan Dutta
Say, taxable income only contributed by Fixed deposit of 2 lakh rs and TDS deducted 20,000 Rs so taxpayer qualifies for refund of 20,000 rs (since taxable income below threshold level) when he/she files tax return ...

Now, in the tax return there is a very specific field for putting in bank accoun...
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Say, taxable income only contributed by Fixed deposit of 2 lakh rs and TDS deducted 20,000 Rs so taxpayer qualifies for refund of 20,000 rs (since taxable income below threshold level) when he/she files tax return ...<br /><br />Now, in the tax return there is a very specific field for putting in bank account details where the taxpayer is required to put in details of the saving account where he wants the refund to be credited ...whatever saving account details he/she provides , the refund is credited to that saving account ...so, I may have a FD with axis but i may seek a refund in ICICI savings account<br /><br />P.s - question will be deleted if you don't select question category carefully next time
  • March 9, 2019
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RISHABH MEHRA

Category : Arrear R..,
Solved
March 8, 2019 11:55 pm
  • Arrear Relief under section 89
My arrears has been settled in GPF so that deductions U/S 80 c gets affected i.e. if it was not settled in GPF then I can take my other investment u/s 80C.
so can I claim relief under section 89?

as it is settled in GPF ,then I want to know should I add this arrear amount in my gross income as Arrear ...
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Amlan Dutta
Even if arrears was received in GPF , it still forms a part of gross total income and has to be shown in total income and shall anyways reflect in form 16 ....arrears relief can be seeked under section 89 ...i have already answered on the process ...wouldn't like to repeat ....... i will not be in a...
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  • March 9, 2019
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