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Mrudula

Category : How to p..,
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September 12, 2018 9:04 pm
  • How to pay advance tax
This year my other income is coming around 100000 in various Bank FD and RDs and NSC (45000 in interest) Do I have to pay advance tax even though I am salaried because I have not declared them to my employer.? How do I pay advance tax?
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Amlan Dutta
If total tax liability is 10000 Rs more, then you are liable to pay advance tax ...In your case, first figure out whether the taxable liability shall exceed 10,000 rs . If yes , then pay advance tax using challan 280...check video tab on how to pay advance tax
  • September 13, 2018
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Keval Shah

Category : ASSESSME..,
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September 12, 2018 8:43 pm
  • ASSESSMENT PROCESS
Hi sir , i was handling my friends father assessment. There are demands from earlier years in site , also in past few letter were submitted . But half of documents are not available right now. What is the correct course of action should i do now. I am not able to trace demands & letters .
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Amlan Dutta
Download income tax returns for relevant assessment years

Firstly , check scope of taxable income (check savings also) and arising tax liability that was declared in tax return
Check the tax credit available to you that was used to meet the tax liability declared in ITR

Now check , whether i...
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  • September 13, 2018
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Rajesh Iyer

Category : Income t..,
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September 10, 2018 3:54 pm
  • Income tax
If a person in India earns ₹20 crore in a F. Y., out of which he gave 2 crore to his friend as a wedding gift by making deeds and all documentation. Now on what sum of money does the giver has to pay tax at the end of F. Y.? On ₹20 cr or on ₹18 cr?
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Amlan Dutta
The entire 20 Crore shall be taxable in the hands of the giver ( doner) as per the income head and taxed as per corresponding income head it belongs to and as per slab based taxation ..........

For the friend (donee) it shall be exempt , since it is received on his wedding...There are 2 cases one...
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  • September 11, 2018
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Shivam pandey

Category : Form 10 ..,
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September 9, 2018 2:00 am
  • Form 10 E not submitted online
Dear sir,
I filed a return for ay 16-17 and claim rebate u/s 89(1) and i forgot to file form 10 e and my return has been processed and demand has been raised by department and rebate of u/s 89(1) has not been given as intimation 143(1)(a).can I file form 10 e and rectify the return for this year ...
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Amlan Dutta
Yes this is a very common case ...you need to fill up and submit form 10 and apply for rectification under reprocess option......i believe rectification option for AY 2018 19 hasn't losses so far .....you may have to wait sometime to submit rectificstion ...watch tutorial for this
  • September 9, 2018
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