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Bandanjeet Singh Deosi

Category : Income t..,
Solved
April 18, 2016 11:15 am
  • Income tax
Hii Amlam I have a question that i am a tenant and pay rent so where i use this expenditure in ITR
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Amlan Dutta
You cannot show this as expenditure but you can claim benefit under section 80 GG ( if you are not getting any HRA from the company you work )..this section is expecially for people who don't get HRA and face the rent burden .....you can claim deduction benefit as per eligibility in this section

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How to claim tax deduction benefit under 80 GG for rent paid in absence of HRA(Live)
How to claim tax deduction benefit under 80 GG for rent paid in absence of HRA(Live) #makeknowledgfree Video Link - https://www.youtube.com/watch?v=K92U_oSc8...
  • April 18, 2016
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PRABIR PAUL

Category : Income t..,
Solved
April 16, 2016 8:23 pm
  • Income tax
Mr. B want to filing his return (ITR1) for AY 2016-2017. He was created 2 NSC RS. 50,000 on December 2015 and another one Rs. 40,000/- on January 2016. He didn't create this NSC a/cs in beginning of the year i.e. April 2015. Now Mr. B is eligible to get exemption on this 50,000+40,000=90,000 in 80c ...
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PRABIR PAUL
1) sir, as you told me that "Hence it is to be declared as income as other sources . Note that since interest is not given back to the investor and reinvested in the NSC instrument , so investor must show first interest income as income from other sources and then claim deduction benefit under secti...
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  • April 18, 2016
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PRABIR PAUL
2) Sir, Mr. B has created a NSC on 5th June 2014 Rs. 60,000. We know that He can get a exemption for filing return (ITR1) FY 2014-2015 Rs. 60,000 But sir can you tell me, is he able to get exemption on same NSC a/c Rs. 60,000 for filing return (ITR1) FY 2015-2016 and FY 2016-2017? Actually I just w...
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  • April 18, 2016
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PRABIR PAUL

Category : 80 C Ded..,
Solved
April 16, 2016 6:56 pm
  • 80 C Deduction- Life insurance premium, deferred annuity,.contributions to providend fund, etc
Can I get any exemption if I will create SIP(Systematic Investment Plan)?
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Amlan Dutta
Yes , under 80 C until the extent of the 1.5 lakhs but you should read the policy carefully and it should state this clearly ....SIP is nothing but Mutual fund and the composition ( Equity /debt /Hybrid) will eventually dictate whether it will enjoy deduction benefit or not ...can you tell me the n...
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  • April 16, 2016
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PRABIR PAUL

Category : Income t..,
Solved
April 16, 2016 5:36 pm
  • Income tax
1)If Mr. B have a own property but he lives in rented house then is he able to exemption or claim on HRA?

2) When Mr. B claiming HRA i.e. when he filing the return then is he should be provide any proof to income tax department for HRA exemption?
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Amlan Dutta
Here are answer to your queries ,

1.) Yes , he is eligible ...there is no connection between owning house ( income head is house property head) and HRA ( income head is salary head ) since the heads are different ...so one can claim salary head allowances definitedly while having own house property
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1285 (HRA) Can person living in rented apartment claim benefit of HRA as well?
1285 (HRA) Can i take both HRA benefit and house rent benefit? Project - Make Knowledge Free Video Link - https://www.youtube.com/watch?v=2fM40lC7WSg By Amla...
  • April 16, 2016
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PRABIR PAUL
Thank you sir, thank you so much for your kind information but sir can you confirm me one thing I need to send the hard copy of Rent receipt when I will send ITR - V to Bangalore CPC or not? If not then when I have send the Rent receipt hard copy to My Assessing officer?
  • April 16, 2016
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