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GAURAV SINGH

Category : Home loa..,
Solved
June 30, 2019 6:54 pm
  • Home loan interest benefit under 80 EE
I have taken a home loan against an under construction property. Its a joint loan between me and my spouse (both are salaried employees). I would like to know following from you related to interest on 80EE Interest on loan taken for residential house property.

1. I understand i have to enter details...
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Amlan Dutta
Since under construction property , so no question of claiming interest benefit under normal computation ...as far as 80 EE is concerned , it allows you to avail 50,000 rs( both together ) benefit towards interest ...How much each can claim shall depend upon co ownership ratio...if you both are inve...
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  • July 1, 2019
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Amlan Dutta
1. I understand i have to enter details of Interest Paid in section B - Type of House property. But do i have to also enter details under 80EE
No, property under construction , you dont have to and you cannot claim loan interest benefit for under construction property
2. Can you please explain me, ho...
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  • July 3, 2019
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Harendra Rawat

Category : Exempt R.., Exempt P..,
Solved
June 28, 2019 11:13 pm
  • Exempt Recognised PF interest u/s 10 (12)
  • Exempt PF interest
Dear Sir,
After serving for nearly 6 years, I resigned from my previous organisation last year in Feb 2018. Then after, during FY 2018-19, I received a certain withdrawal amount of EPF from the recognised PF trust of my organisation and a certain withdrawal amount of Employee Pension Scheme from EPFO...
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Amlan Dutta
You are right for the provident fund part and you need to show it in the exempt income reporting section ...as far as pension is concerned, this appears more to me like commuted pension (just so that you should know when a person forgo a portion of the pension and receive a lumpsum amount by surrend...
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  • June 29, 2019
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Venkatramani

Category : Taxabili.., Taxabili..,
Solved
June 28, 2019 7:01 pm
  • Taxability of PF
  • Taxability of PF - Withdrawal before 5 years
Hi Amlan,
I am not in employment since February 2018 till today (28th June 2019). I have not completed 5 years of continuous service. I submitted PF Claim (via unifiedportal-mem.epfindia.gov.in) and have received refund of the entire PF (employer and employee) this June 2019 amounting to Rs.4.25 lakh...
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AYUSH
You can claim refund of aforesaid amount just remember to file the disclosure purpose what I think.. But I want amlan sir to through light on that.
  • June 28, 2019
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Amlan Dutta
Even if 80 C was filled with Home loan principal , if you had availed 80 C on account of PF contribution in those year ITR's ,same alone shall be considered as savings for that year ... ...basically,EPF contribution is made up of four components - employee's contribution, employer's contribution, i...
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  • June 28, 2019
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Leela Sai Rama Krishna

Category : Filing r..,
Solved
June 28, 2019 12:51 am
  • Filing return for LIC agent
My Dad is LIC agent by profession. He gets income from LIC, Star Health insurance etc. He has a 3 storeyed building, in which he rented for 2 floors and stays in other. He has another house, rented . For Filing ITR for AY 2019-20, Can you throw some light on which form should be used.
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Amlan Dutta
For individuals , return to be selected in such a way that the taxable income from applicable income heads can be deducted ...here income is from profession and house property ...so, select return that allows for income from these heads to be depicted ..
For AY...
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  • June 28, 2019
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AYUSH
Sir for propose of lic commission and other 3rd party I would recommend you to show file business income, for purpose of property income you can file house property head and would recommend itr 3
  • June 28, 2019
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