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deepak

Category : Income t..,
Solved
June 21, 2016 5:54 pm
  • Income tax
Amlan Jee

Recently one of my friend has incurred capital loss short term for rs 25000.
He does not want to carry forward the loss in coming years ready to book loss,
Please tell how to compute or pass this entry in ITR 2
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Amlan Dutta
Simply use the capital gain schedule in ITR 2 to portray this.
There , once the sale and the purchase figures are put , the return itself computes the loss

Say, i show sale value as 100 Rs and cost as 150 Rs , then the return itself computes loss as 50
This loss will get adjusted with eligible incom...
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  • June 22, 2016
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Narsi Reddy Nallamilli

Category : Income t..,
Solved
June 21, 2016 5:17 pm
  • Income tax
Hi,
Please help, me with this question.
I have received x amount from my friend and I have transferred this amount to another person. Then after some day that person transferred back the amount to me. So does it mean my taxable income in 2*x amount?
Thank you,
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Amlan Dutta
Say , Ram gives you 100 Rs and you transfer 100 Rs to Shyam...Shyam after a few days returns the 100 Rs to you ...so you still have 100 , where is the question of it becoming 200 (2x i.e 2 x 100 ) .....but , yes i am assuming that shyam has returned your 100 Rs and not given you further 100 Rs .....
  • June 21, 2016
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Dhananjay Prajapati

Category : Income t..,
Solved
June 21, 2016 4:36 pm
  • Income tax
One of my friend wants to file ITR (SAHAJ) NIL TAX RETURN starting from the AY 2011 -12 till AY 2016-17?

But is it possible to file all the previous pending returns in this AY 2016-17 by selecting an options of belated return i.e sections 139(4) OR is there any options to be selected?
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Amlan Dutta
No , it is not possible ...at this stage he can only file belated return for AY 2015 16 and due return for AY 2016 17 ...all earlier years , ask him to forget about it .
  • June 21, 2016
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A Sanyal

Category : Income t..,
Solved
June 21, 2016 11:02 am
  • Income tax
Hi Amlan, firstly thanks much for your wonderful tutorials on Income Tax filing on youtube! Now, I have a query regarding efiling for AY16-17 using ITR-1 online. Actually while doing the e-filing in the Income Tax portal, I noticed that the "SCH TDS1" section of "Tax Details" tab was prefilled and t...
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Amlan Dutta
That is not the reason why you get the message "Salary disclosed in B1 is less than 90% of the salary specified in TDS1"
What it means is that the salary that you declared in income schedule is less than the salary you declared in the TDS schedule ( which is not possible )

Edit the prefilled figures t...
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  • June 21, 2016
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A Sanyal
Ok, thank you! So that means I need to edit the pre-filled field "Income Under Salary" of "SCH TDS1" section?
  • June 21, 2016
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