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RAM

Category : Income t..,
Solved
August 15, 2018 11:53 pm
  • Income tax
Tax Rebate for wrong payment received and adjusted in next FY
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Amlan Dutta
Under non exempt allowances head ...i.e.if the allowances reflect in your form 16 and are non taxable , they will appear in non exempt allowances portion of the ITR ....Check your pay slips and form 16 and fill ITR accordingly ...refer video tutorial for the breakup directions ..
  • August 15, 2018
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RAM
Sir, My query is unsolved, Please Solve.
  • August 17, 2018
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TUSHAR

Category : How to c..,
Solved
August 15, 2018 10:30 pm
  • How to compute income from house property
I have 1 flat in Mumbai, which given to bank employee rs. 20000 per month rent. They give me 18000 after deduct 10% of tax rule.
Another part I stay in rent in another room in Mumbai and I give rent to Mr. Rex to rs. 20000.
What will calculations done ?
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Amlan Dutta
For the first house you derive income from House property and shall accordingly fill house property schedule for let out property .....for the other room that you pay rent , there is no income for you so you have nothing to show ...in case you get HRA , you will get some exemption based on eligibili...
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  • August 15, 2018
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vikas

Category : Who is r..,
Solved
August 15, 2018 4:01 pm
  • Who is required to file
Sir is it mandatory for everyone to file an ITR who have a pan card or else he has to pay the penalty. Because I am a mobile mechanic and earn a very small amount. Do I need to file itr and which one?
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manish
Hello, If you are a salaried person i.e. if you are working for someone as a mechanic, then you can file ITR-1. this will help you in your future like when you require loan or something else.
also you can file ITR-1 and show income from other sources if not salaried.
  • August 15, 2018
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Amlan Dutta
You are basically wanting to know compliance requirement i.e as to when a individual is required to file return...for individual assesse , if gross total income is below threshold levels , he /she is not required to file return ...so, If your gross total income is below 2.5 lakhs(assuming you are b...
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  • August 15, 2018
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Aadhi

Category : INCOME H..,
Solved
August 14, 2018 8:51 am
  • INCOME HEAD - OTHER SOURCES
Should we need to pay advance tax despite TDS deduction for winning from lotteries ?
Tax liability has increased showing surcharge interest penalty etc though having 17.55 lacs TDS deducted @ 30% on 58.5 lacs . Now 2.5 lacs amounted to pay in extra,
Previous year tax liability less than 10000
Any way ...
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Amlan Dutta
There is no connection between payment of advance tax and TDS deduction ...if tax liability exceeds 10,000 rs , then one is required to pay advance tax - straight and simple ...what happened in earlier years has no relevance to the question...


if your liability is more than 10000 rs you are require...
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  • August 15, 2018
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