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Ketan Zunjarrao

Category : Rectific..,
Solved
June 11, 2018 2:05 am
  • Rectification u/s 154
I wrongly enter in rectification tds year, due to same, whole tds amount payble to me. How cn i sort this
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Amlan Dutta
Rectify again under tax credit mismatch option and correct accordingly
  • June 11, 2018
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Mrudula

Category : Taxation..,
Solved
June 10, 2018 7:15 pm
  • Taxation of NSC
Sir,
I had purchased NSC worth Rs. 45000 (10000+10000+10000+10000+5000) few years back and I had not shown them in my ITreturns Now they had matured and now I will get 90000. Pls tell me how much tax would I have to pay on these NSC?
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Amlan Dutta
NSC is a interest bearing instrument ...note that in interest bearing instruments , only the interest is to be offered for tax and not the principal

Offer interest income (i.e Interest minus principal ) as interest income under income from other sources and pay tax as per slabs ....typically howeve...
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  • June 10, 2018
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Ankush kaundal

Category : Income t..,
Solved
June 10, 2018 4:55 pm
  • Income tax
Hi Amlan,
I have a query regarding family pension, my mother is receiving family pension and her income tax on pension will be around 22000 + around 15000 income tax on bank fd’s, so my doubt is whether she is eigible to pay advance tax or not?
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Amlan Dutta
Are these monthly or yearly figures ...anyways , advance tax is liable only if the taxable income for the year exceeds 10,000 Rs ...also , if your mom is senior ( greater than 60 years ), than advance tax won't apply to her since she does not have income from business /profession...basically , seni...
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  • June 10, 2018
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Hema Latha

Category : Delay in..,
Solved
June 10, 2018 11:24 am
  • Delay in processing of returns
Hi Amlan Ji, Good Morning.. An organization is deducting TDS and crediting the same to Government every month with in time. But due to some reasons the returns of all quarters are not filed till now for the FY 2017-18. Can those returns be filed now? Is there any penalty for non filing of TDS return...
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Amlan Dutta
There are huge repercussions of non filing of TDS on time ...not only interest , late fees and penalty also applies when one doesn't file TDS returns on time ....
  • June 12, 2018
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