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rohit

Category : LTCG on ..,
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July 22, 2018 12:06 pm
  • LTCG on stocks
if income ONLY from longterm capital gain 4,45,000 rs ( NO intraday , NO fno , NO shorterm ) dividend income 35,000 HOW MUCH tax is applicable and he file itr 2 or itr 3
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Amlan Dutta
Dividend fully exempt , when was this LTCG realised ...until dates provided , i can't comment ...if it was before December 31st 2017 , then this too is exempt and simply ITR 1 can be used and both declared under exempt income reporting section
  • July 23, 2018
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PIYUSH

Category : TAXABILI..,
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July 22, 2018 11:22 am
  • TAXABILITY OF SALARY ALLOWANCES
Hi Amlan,
I got following exemption from my FORM 16, i hope i have declared correctly . please advise. meanwhile we get 2200 meals coupons every month ( 26400 yearly ) . however there is no mention of this amount in form 16 or in our tax sheet . here is snap from pay roll. thanks
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Amlan Dutta
Yes, this is correct ...well done ...hardly anything for me to answer here .... the first is transport allowances exempt under 10(14(ii) i.e 1600 per month translating to 19200 Rs and the second is actually tax free medical reimbursement until 15000 Rs under section 17(2) ....i am not sure of what h...
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  • July 22, 2018
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PIYUSH
ty for quick reply. you are savior. in my next visit to Mumbai , i would surely hope/wish to meet you
  • July 22, 2018
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BHUSHAN DEORE

Category : Taxabili..,
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July 22, 2018 7:39 am
  • Taxability of Life insurance plans
I took a policy(single premium) from life insurance company and premium is 100000 in year 2010 and Term is 8 Years, they have deducted 1% tax of maturity amount, that amount is shown in 26as. total maturity amount is 138160. i have just gain 38160 after 8 Years of Period.
what exact income to show...
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Amlan Dutta
Unfortunately, since pol;icy is prior to 2012 and since annual premium exceeds 20 % of sum assured , so this sum is not exempt under section 10 (10 D)...Here the entire proceeds i.e the entire sum paid 138160 Rs is taxable under other sources and taxability shall be as per slabs depending on which...
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  • July 22, 2018
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Ashvin Vyas

Category : Interest..,
Solved
July 22, 2018 5:10 am
  • Interest TDS (U/s 194 A) (10%)
HI Amlan,

I need to show the saving account interest in TDS2 while filing return but How to fill the TDS2 details in ITR-1 efile return as it ask for TAN number, tax deducted etc as My form 26AS will not have the information for the saving interest.

Attached is the photo for the details which i n...
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Amlan Dutta
On savings there is no TDS , so there is no question of taking tax credit of zero TDS ...So, you will be leaving the TDS schedule blank for saving interest...had the bank deducted TDS , the same would have appeared in your 26 as statement but since it is savings interest so there has been no TDS d...
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  • July 22, 2018
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