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KARMVEER SINGH

Category : Income t..,
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July 14, 2016 10:10 am
  • Income tax
TREATMENT OF LEASE RENT IN CASE OF BANK EMPLOYEE WHILE BANK DO NOT GIVE HRA AND ALSO DEDUCT RS 333/ MONTH FOR LEASE RENT RECOVERY. WHATS TREATMENT NEED TO DO BY BANK EMPLOYEE WHILE FILLING ITR.
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Amlan Dutta
Treatment for leased property is same as let out property ...assesse will compute income from house property let out on lease and take credit for deducted TDS .....

1.) Income portion

Say , income from lease = 20,000
So , Gross annual value = 2,40,000 Rs
Say Municipal taxes paid = 10,000 Rs

So , ne...
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  • July 14, 2016
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Vivek Shukla

Category : Income t..,
Solved
July 13, 2016 11:54 pm
  • Income tax
Last Financial year 15-16, I was in UK for 8 months so by terminology I am NRI .So do I need to file ITR?Lets say I am filing the same, so I need to select 'NRI' in drop down?I am having form 16 and form 26AS. Is there anything which I need to look for/worry?
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Amlan Dutta
Your person status is individual and your tax residential status for FY 2015 16 is Non resident . So basically for the year under consideration i.e FY 2015 16 ( Assessment year 2016 17 ) , you are a non resident individual . For a individual , compliance ( act of filing a return ) is mandatory when ...
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  • July 14, 2016
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Vivek Shukla
1 more questions:
Do I need to declare my foreign accounts too?
  • July 24, 2016
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NITISH KAPOOR

Category : Income t..,
Solved
July 13, 2016 10:36 pm
  • Income tax
Dear Mr Amlan

Mr Ram (Govt Emp.) Was Expired (On Job) on 02.04.2014, Due to his death, Pension is going pay to his wife, Pension of period 03.04.14 to 31.03.2015 is paid in FY 2015-16 (i.e. NExt year),and Salary arrear of Mr Ram (Oct 2013 to 02.04.2014) is also paid to his wife in same FY 2015-16 ...
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NITISH KAPOOR
Sir But these was issue is Amount and tax deduction Shows in Deceased's Wife 26AS. Deceased 26AS Shows Nil.
  • July 14, 2016
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Amlan Dutta
Then show income for wife and claim TDS accordingly.
Check the section for TDS and decide income head accordingly

Always while posting question, please provide full information . Don't give me half information .

I gave you the treatment earlier based on what you posted and you add new information...
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  • July 14, 2016
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Jayesh Bhapkar

Category : Income t..,
Solved
July 13, 2016 1:47 pm
  • Income tax
Hi Amlan,

Thank you for resolving queries of everyone.

I have below query,

I forgot to submit medical bills to my employer. Can I get tax exemption for medical bills while filing ITR ?
If yes, in which section I can declare the medical bills amount ? Can I deduct the amount from my total income ?

Thanks...
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Amlan Dutta
Here it is important to understand the difference between medical allowance and medical remibursement .Medical allowance is provided by your employer and is totally taxable but as soon as you submit bills for your treatment etc , it becomes medical reimbursement and this reimbursement is exempt to t...
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  • July 13, 2016
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Jayesh Bhapkar
Thanks Amlan. This clarifies my doubt.
Waiting for your youtube video on this regard
  • July 14, 2016
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