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dinesh khanna

Category : Income t..,
Solved
May 5, 2016 4:22 pm
  • Income tax
I am 60 year old ,from 2015-2016 my income is only from rent ( my house and shop) and bank fdrs. how i will income tax return. last year my income was from business now i rented my property
when i try fill my return on line there was no rebate of 30% on my rent , how can i show it and how can i get ...
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Amlan Dutta
You seem to be using ITR 1 and so you don't see the 30 % rebate (Basically in ITR 1 , you put the net value i,e value after deductions )

Anyways , since there are multiple properties in your case, so you cannot use ITR 1 and you must use ITR 2A ...in ITR 2A , you will have clear breakup for claiming...
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You seem to be using ITR 1 and so you don't see the 30 % rebate (Basically in ITR 1 , you put the net value i,e value after deductions )<br /><br />Anyways , since there are multiple properties in your case, so you cannot use ITR 1 and you must use ITR 2A ...in ITR 2A , you will have clear breakup for claiming rebates etc <br /><br />Basically the rent that you receive for the property is the gross annual value ...deduct the municipal taxes paid and you arrive at net annual value <br /><br /><br />On this net annual value , two deductions are allowed <br />1.) 30 % of net annual value <br />2.) Loan interest if any<br /><br />There is no tax benefit for property taxes paid (It is only for municipal taxes and that too only if you have receipt of it) <br /><br />Here, check this tutorial for showing tax filing for let out house property<br /><br />https://www.youtube.com/watch?v=daThsrAuiiw
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764 (Income tax) How to fill House property schedule in ITR 2 for Let Out house
764 (Income tax) How to fill House property schedule in ITR 2 for Let Out house Video Link - https://www.youtube.com/watch?v=daThsrAuiiw
  • May 5, 2016
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PRABIR PAUL

Category : 80GG - R.., Exempt H..,
Solved
May 4, 2016 8:18 pm
  • 80GG - Rent Paid
  • Exempt HRA U/s 10(13A)
Hi! Amlan Ji.Please read it carefully and understand what I want to mean:-
We know that we need to calculate the exemption of HRA by 3 different types.
Suppose think that you are a employer and you are calculating the HRA exemption amount for an employee. After calculating the HRA exemption you foun...
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Amlan Dutta
Don't mix two different topics
(1) HRA exemption and

(2)Deduction under section (80 GG) ( which applies only when no HRA is being received by the assessee.

In case, employee gets HRA , HRA exemption will be calculated as per what HRA section stipulates only ( No second thoughts on this )
No questi...
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How to claim tax deduction benefit under 80 GG for rent paid in absence of HRA(Live)
How to claim tax deduction benefit under 80 GG for rent paid in absence of HRA(Live) #makeknowledgfree Video Link - https://www.youtube.com/watch?v=K92U_oSc8...
  • May 4, 2016
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Rahul Kr

Category : Indirect..,
Solved
May 3, 2016 4:22 pm
  • Indirect taxes
Hello Amlan.
To open a bank account in the business name, I heard that service tax registration is needed. Thanks to you, By watching your video only I filed my ST1 step by step as instructed by you. Yesterday I could view the issued ST2.
My problem is, Hence this ST2 is issued in my name, How would b...
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Amlan Dutta
Not very sure of this ...but in a proprietorship business , the business is not different from the propietor ....bank can open when you explain them the situation ..i , Amlan can open up a current account in my name or my business name because both are same entity in case of a proprietorship busine...
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  • May 3, 2016
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PRABIR PAUL

Category : Income t..,
Solved
May 3, 2016 2:55 am
  • Income tax
Hi! Amlan ji I am filing 24q q4. One of our employee was joined on May 2015 and resigned on Aug 2015. We have deducted TDS from his salary and filing the return in q1 and q2 Now I want to provide him his form 16. Is q1 and q2 enough to generate form 16 for him or I have to file his details in 24q q4...
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Amlan Dutta
I have no practical idea of TDS filing ...you will have to ask someone who does TDS filing on regular basis ...as far as i know , it is only in quarter 4 of 24 Q TDS return filing that the Annual Statement has to be filed ...and it is then that the TDS certificate (form 16) is generated ...so i...
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  • May 3, 2016
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