Categories
Normal Grid Pagination Scroll
Divya

Category : Exempt I..,
Solved
June 21, 2018 2:56 pm
  • Exempt Income
Dividend income from domestic company Under Schedule EI and Dividend Gross under Schedule OS : Is it same . Should we enter the same amount in both fields
  • Hide Placeholder
  • Hide Discussion
Amlan Dutta
For AY 2018-19, dividends until 10 lakh is exempt ....say someone has earned dividend 11 lakhs , then 10 lakhs shall be exempt and 1 lakhs shall be taxable ...so, he will show using exempt income schedule exempt dividend for Rs 10 lakhs ( this shall remain tax free) and using the other income sour...
View More
For AY 2018-19, dividends until 10 lakh is exempt ....say someone has earned dividend 11 lakhs , then 10 lakhs shall be exempt and 1 lakhs shall be taxable ...so, he will show using exempt income schedule exempt dividend for Rs 10 lakhs ( this shall remain tax free) and using the other income sources show taxable dividend income of Rs 1 lakh ( this will be taxable).... For AY 2018-19, dividends until 10 lakh is exempt ....say someone has earned dividend 11 lakhs , then 10 lakhs shall be exempt and 1 lakhs shall be taxable ...so, he will show using exempt income schedule exempt dividend for Rs 10 lakhs ( this shall remain tax free) and using the other income sources show taxable dividend income of Rs 1 lakh ( this will be taxable)....
  • June 22, 2018
  • LikeLike
  • 1 person
  • Select as Answer
Divya
Awesome, many thanks Amlan.
  • June 22, 2018
  • LikeLike
  • Select as Answer
Divya

Category : Income t..,
Solved
June 21, 2018 1:13 pm
  • Income tax
Hi Amlan ,

First Part :

I had redeemed few of my stocks and MF after 12 months gap and elss after 3 years gaps in Dec 2017.I have to fill STCG as well as LTCG . So LTCG come around 183K . STCG I am yet to do . I also had surrendered a pension plan of LIC before its term. Could you tell me 1) wher...
View More
  • Hide Placeholder
  • Hide Discussion
Amlan Dutta
1.) LTCG realized in Dec 2017 is exempt

2.) If you surrender your pension plan before maturity, the surrender value will be added to your income and taxed as per your slab..This income will be added in income from other sources ...in case you took any 80 C benefit of the pension plan , that all wil...
View More
  • June 21, 2018
  • LikeLike
  • 1 person
  • Select as Answer
Divya
Thank you Amlan ..lot of it answers .. I will fill up ITR and see how it looks like .
  • June 21, 2018
  • LikeLike
  • Select as Answer
Mahendrakumar Kolhe

Category : How to s..,
Solved
June 21, 2018 11:59 am
  • How to show Gift from relative in return(U/s 56(2)
A daughter (NRI) wants to transfer her Tax Saving Bonds (Demat form) in her Mother's (RI) name.

What will be the tax implications for both of them?
  • Hide Placeholder
  • Hide Discussion
Amlan Dutta
The tax treatment of gifts in this case is guided by Section 56(2) of income tax act 1961....However, note that gifts received by by relative is exempt from levy of tax in the hands of the donee

Here, since daughter falls under relative purview, any sum of money received from assessee by daughter i...
View More
  • November 27, 2018
  • LikeLike
  • Select as Answer
Devendra Kumar Chauhan

Category : TAXABILI..,
Solved
June 20, 2018 11:46 pm
  • TAXABILITY OF SALARY ALLOWANCES
sir i am govt employ & according to the government orders i am taking family planning allowance of rs 210/-per month total of yearly rs 3000/-only.therefore i want to know that above allowance is exempt,if it is exempt then which section it covers pl help me
  • Hide Placeholder
  • Hide Discussion
Amlan Dutta
Any allowance other than that listed under section 10 is totally taxable ...There is no mention of family planning as a allowance ..so the total 3000 rs pension that you receive is totally taxable
  • June 23, 2018
  • LikeLike
  • Select as Answer