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TRIPATI SAHU

Category : Revised ..,

Solved

March 2, 2019 11:50 pm

Dear sir my friend has revised itr return of Ay2018-19. In its first itr he has refund of 20000 which was wrong so he revised itr return of refund(1000).but the first itr has been processed and he got the refund of 20000.sir what he will do and how will return the the remaining 19k.

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Amlan Dutta

He needs to meet the assessing officer and take this up as soon as possible ...department may issue a demand notice and he has to pay the demand accordingly

March 4, 2019

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Sharad Kad

Category : Self ass..,

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February 26, 2019 9:08 pm

Hello sir,
My TDS was deducted by our department, deduction shown in form 26AS but now I get notice from income tax department to pay self assessment tax.
Sir I am confuse now I have already paid tax through tds why they should inform me to pay self assessment tax
...

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Amlan Dutta

In a subsequent query that you posted, you have answered your question yourself..... you haven't mentioned TAN number correctly of the deductor and hence were not given tax credit ....in this case what you can do is submit rectification for tax credit mismatch, fill in correct details of deducted T...

March 4, 2019

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Ayush Gupta

Category : Permissi..,

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February 23, 2019 1:43 pm

Hi Amlan, I am starting a business from mid March 2019 and planning to purchase a laptop before commencement for business purpose. Will I be able to show the same as business expenditure, if not, What will the appropriate way to show it on the books? Please guide me with the best option refering the...

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Amlan Dutta

If the laptop is being used for the business, then the expense can be shown but being a capital item , you can only show a part of it as expense ( refer to the concept called depreciation).....

March 20, 2019

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Akbar Basha E

Category : Arrear R..,

Solved

February 23, 2019 8:32 am

Sir, I am a Govt employee from Andhra Pradesh. At the time of FY 2014-15, Not necessary to efiling whose taxable income is below Rs 500000/-. So I had not done efiling for that year. Now I got PRC Arrears of FY 2014-15 in November' 2018. Now how to claim tax relief by 10E. If i want to submit 10 E f...

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Amlan Dutta

Unfortunately the department is disallowing the arrear relief under section 89 if the tax return for the year for which arrears has been received has not been filed ...This has now become a common case ...but anyways you can still try ...you will fill and submit form 10 E online and then claim relief in return ...i won't be able to help you with calculations and how to fill form etc ...for that refer my video on youtube .... The formula for relief is

(Tax on total income inlcuding arrears - tax on total income excluding arrears (Step 1 ) (For the year in which arrears recieved ) (X1-X2)
Minus
Tax on total income inlcuding arrears - tax on total income excluding arrears (Step 1 ) (For the year in which arrears due ) (Y1-Y2)

Simple way of calculating tax relief under section 89
Step - 1
Let this be X
Tax on total income inlcuding arrears - tax on total income excluding arrears (Step 1 ) (For the year in which arrears recieved ) (X1-X2)
Let this be X
Step - 2 - Calculating difference in tax with /without arrears for years for which arrears received
Let this be Y
Tax on total income inlcuding arrears - tax on total income excluding arrears (Step 2 ) (Of the year to which arrears belong ) A1-A2
Repeat step 2 , in case there are multiple years for which arrears is recieved i.e B1-B2,C1-C2
Y = A1-A2 + B1-B2 + C1-C2 +D1-D2
Step 3 - Relief under section 89 - (Step 1 - step 2 ) = X - Y
(Note that x will always be greater because arrears on account of A,B,C,D get added to X i.e year in which tax computed
Note that in the return we simply claim this figure as relief from tax under section 89
(This is not only for salary arrears but also other eligible arrears as mentioned in section 89 )Most important is to therefore remember that assessee after claiming tax relief benefit under section 89 for arrears must not forget to submit form 10 E online in the income tax website else his request claimed in return for relief under section 89 shall be disallowed during intimation assessment.....

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February 23, 2019

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Akbar Basha E

Ok, thank you Sir

February 23, 2019

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Amlan Dutta

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February 23, 2019

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