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SUMAN CHATTERJEE

Category : LTCG on .., NRI Taxa..,
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July 26, 2018 12:05 pm
  • LTCG on stocks
  • NRI Taxation
Hello Amlan - I understand LTCG upto 1L p.a is exempted. So if I have,
LTCG from stocks - 90k (Before 31/01/18)
LTCG from equity MF - 30k (Before 31/01/18)
How should I file this in ITR2? Only Fyi, My Residential status will be NRI.
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Amlan Dutta
All long term capital gains from equity stock as well as equity mutual oriented funds for residents as well as non residents shall be exempted from levy of tax for all gains before 31.01.2018 ....You can report this in exempt income schedule of the ITR 2 ( had it been FY 2016 17 this was possible to...
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  • July 26, 2018
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hanif

Category : Income t..,
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July 26, 2018 12:01 pm
  • Income tax
dear amlan. this is hanif...how are you , i have a query...an individual senior citizen source of income through fd's, scss , bank interest is calculated and accordingly the tax comes to around rs 80000/- (no advance tax is paid ) can we pay this huge amount as self assessment tax before filing for ...
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Amlan Dutta
For senior citizens, no penal interest for non payment of advance tax applies ...It is not a question of whether he can , HE MUST surely pay the self assessment tax and also compulsorily must seek credit in schedule IT of the return before uploading ITR .......
  • July 26, 2018
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hanif
many thanks for your reply.mr amlan, sorry to ask u again...but honestly speaking what is " HE MUST compulsorily must seek credit in schedule IT of the return. please explain the above line ...please mr amlan....
  • July 26, 2018
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PREM

Category : Exempt I..,
Solved
July 26, 2018 11:52 am
  • Exempt Income
Policy maturity amount received and TDS 2% deducted on benefit amount.now where to show this maturity amount with bonus in ITR 1,If it showed in income than have to pay tax according to sab.and showed in 10D than shows refund because 2% TDS is in 26 AS.what to do plzzz help
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Amlan Dutta
If TDS deducted (U/s 194DA) , it indicates that the policy maturity proceeds is taxable..if pension policy , then such happens when annual premium of policy ( booked after April 2012 ) is more than 10% of sum assured ....Here, you will have to offer entire maturity proceeds as income under other sou...
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  • July 26, 2018
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Rakesh

Category : STCG on ..,
Solved
July 26, 2018 10:15 am
  • STCG on Stocks
Ok sir thanks a lot.but sir 1 querry is here.for example i have 4500 rs stcg and also some loss stcg loss in equity share.so it will auto matically setoff and remaining gain will be my gain.sir i have to show quartely breakup of original 4500 rs or the amount which is showing after setting up short ...
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Amlan Dutta
From my studies, i observe that you are required to show only the net gain in the corresponding quarter ...say, you had incurred loss of 10 rs and profit of 20 Rs , you will only show net gain of 10 Rs and the corresponding quarter in which it occurred .... You would like to take a second opinion ....
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  • November 27, 2018
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