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Kary

Category : Income t..,
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July 6, 2016 8:36 pm
  • Income tax
Hi,

I have a same old question about Form 15G, but in my case I have left my job after working for 3.5 years and since then I have been doing my post grad,so no income. Now its been 5 years for my PF account(Started in July 2011).....so am I exempted from any TDS?
Around 1 lakh in PF account

Thank in...
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Amlan Dutta
If PF is maintained during 5 years of continuos service , only then it becomes exempt.
In your case , there was no 5 years of continuous service so it is fully taxable like explained below

From the accumulated PF , add employer contribution and interest thereon and show in salary schedule of tax retur...
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  • July 7, 2016
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smita shroff

Category : Income t..,
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July 6, 2016 7:23 pm
  • Income tax
Mny Mny Thxs !!
Can you "inherit" short and long term capital Loss?
Mr X dies and leaves his property, shares, debentures, etc to his son Ramesh.
Ramesh transfers all the investments of his father to his name.

Mr X also had some Capital Losses ( Long Term & Short Term ) arising out of the sale/maturi...
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Amlan Dutta
Give me some time to study and respond ...but know one thing LTCG/LTCL(loss) on equity mutual funds is exempt ...so , though it will go to son , that goes to no taxable head and cannot be used for adjustment ...besides this the other things will be inherited by the son and can be used for adjustment...
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  • July 7, 2016
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Aman Sandhu

Category : Income t..,
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July 6, 2016 1:55 pm
  • Income tax
Thanks for your kind support.

AS guided by you, following are details for my PF amount; Employee’s share + interest & Employer’s share + interest for last four years.
YEAR Employee+int. Employer+int. TDS ITR Status
FY 2010-11 4974+473 4974+473 TDS-0.00, Return not filed...
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Amlan Dutta
I have already answered ...please don't expect me to do calculations for you ...
Add employer contribution and interest thereon and show in salary schedule of tax return ITR 1 .

Employee contribution to the extent deduction benefit was taken under section 80C was taken for will get added ...also add...
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  • July 6, 2016
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RAMESH SUBRAMONI

Category : Income t..,
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July 6, 2016 12:06 pm
  • Income tax
Good morning Mr.Amlan,
I have just viewed your video on YOUTUBE for the form 26QB and I was very impressed with all the information and style of your presentation.Really it was very helpful to get an overall idea of this new section as most of the auditors and tax consultants i spoke to in the last c...
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Amlan Dutta
This form is nothing but TDS return 26 QB and it is because of newly introduced TDS section 194 IA , which come into effect from June 01, 2013. . This section will not be applicable for sale agreements made before June 01, 2013 irrespective of the date of receipt of consideration.

This section cle...
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  • July 6, 2016
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