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Pawan Kumar

Category : Contract..,
Solved
April 17, 2019 11:03 am
  • Contract TDS u/s 194 C (1%)
Dear Amlan Sir,
i am a salaried govt employee. i got a amount i.e. Rs.129 & TDS Deducted Rs. 1.30 u/s 194 C.
May I file ITR-1
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Amlan Dutta
Yes, for such a insignificant amount, it is better to offer such income under other sources in ITR 1(though it pertains to contract payment) ..(assuming that you have no other income source else ITR will vary accordingly to reflect scope of taxable income )...You can claim TDS credit in the TDS sch...
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  • April 17, 2019
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RITESH TAUNK

Category : Filing r..,
Solved
April 14, 2019 8:18 pm
  • Filing return of earlier previous years
Dear Amlan,

I am Filing Return against Notice for FY 2013-14.
My Form 26AS says that ITZ Cash Card Ltd (Deductor) has Credited total amount of Rs 1605.00 and Tax Deducted is Rs 160.50 and TDS Deposited is Rs. 160.50 and STATUS is Final. Therefore I have filled the SCHEDULE TDS of ITR Form claimin...
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Amlan Dutta
Please know that the TDS sections help identify the income source.
For example if TDS is done using section 192, one knows the income source must have been salary , likewise if TDS is done using 194 A , then one knows the income source must have been interest , on similar lines if TDS is done ...
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  • April 14, 2019
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Arun Kurrey

Category : Standard..,
Solved
April 13, 2019 11:42 am
  • Standard deduction of 40000 u/s 16(ii)
Dear Amlan Sir,

My father retired on 30 April 2018. He got Salary of Apr-18 i.e Rs 1,48,491 and got pension from May-18 to Mar-19 i.e 16,989 Per Month, so total Rs 186879 in this AY 2019-20. Income From Other Sources stood at 2,91,369,

in this case, how much Standard deduction will be applicable. ...
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Arun Kurrey
Thanks sir,
but according to — Income Tax India (@IncomeTaxIndia) April 5, 2018
It is clarified that a taxpayer who is in receipt of pension from his former employer shall be entitled to claim a deduction of Rs. 40,000/- or the amount of pension, whichever is less, under Section 16 of the Act.

in this ...
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  • April 13, 2019
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Amlan Dutta
You dad received pension of 16989 per month from may to march i.e for a period of 11 months ..... since he received pension for 11 months so total pension received during the year was 16989 x 11 = 186879 Rs ...standard deduction available to a pensioner is lesser of 40,000 Rs or actual pension re...
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  • April 14, 2019
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Prashant Goyal

Category : Return p..,
Solved
April 12, 2019 10:30 pm
  • Return processed but revision needed
Hi Amlan,
I am a salaried person with some interest income from bank FDs. For FY 2017-2018 while filing my tax returns I made an error in the TAN of bank, consequently income tax dept did not recognize any interest income and refunded me the tax i had paid on this interest income. In good faith i re...
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Amlan Dutta
A part of the question makes no sense ...even if department doesn't recognise TAN, it will not allow the TDS that has been claimed ( because incorrect TAN means a different deductor who has not deducted TDS ) but department should surely recognize your interest income offered. The tax liability sha...
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  • April 12, 2019
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Prashant Goyal
Thanks Amlan. Well, thing's unfolded exactly the way i described. Bottom line, post the TAN rectification they have raised a demand for the refund which as I mentioned previously i have already paid. There is no net liability on my side. Anyways I was thinking of filing another rectification (which ...
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  • April 12, 2019
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