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Jitendra B

Category : How to f.., Income t..,
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July 23, 2019 5:32 pm
  • How to fill ITR
  • Income tax
In ITR1 dropdown, there is a dropdown "Nature of Employment". One of that value is "Not Applicable". Which taxpayer category can choose "Not Applicable" for the Nature of Employment?
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Amlan Dutta
This is for unemployed people i.e If taxpayer has no salary/pension and is using ITR 1 to depict income from other heads - House property or interest etc , then clearly employment doesn't apply to him/her. He/she would the select employment category "Not applicable" in such a case for the simple fac...
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  • July 23, 2019
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SAIKAT DAS

Category : 80 C Ded..,
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July 23, 2019 10:17 am
  • 80 C Deduction- Life insurance premium, deferred annuity,.contributions to providend fund, etc
If I pay my lic policy premium from my bank account, where I am nonfiler, can my mother claim 80c benefit for my lic policy?

2nd Question: Is bank account matters for claim 80c deduction?
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Amlan Dutta
No you cannot claim , the person who pays for it can claim benefit ....In case of an individual, deduction is available in respect of policy taken in the name of taxpayer or his/her spouse or his/her children. however in this case since you paid for the LIC policy and in your name , your mom cannot ...
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  • July 23, 2019
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BIBEK

Category : INCOME S..,
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July 23, 2019 1:01 am
  • INCOME SCHEDULE - CAPITAL GAINS
Where to show long term capital loss in ITR 2 ?
And against what can I set it off ?
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Jitendra B
You can directly go to Schedule CG Section B4 to enter the details and LTCL will come populated auto calculated. Otherwise, you can enter all shares wise equity mutual fund wise details in Schedule 112A which is not mandatory and that schedule will calculate the LTCL and populate the Schedule CG Sec...
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  • July 23, 2019
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Jitendra B
Dear Amlan, my question is continuously related to unlisted shares to be declared is getting deleted for wrong category. Can you please post whether the Delisted Shares of NSE and BSE are to be declared in ITR2 form as Unlisted?
  • July 25, 2019
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Janaki Das

Category : 44ADA ( ..,
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July 23, 2019 12:39 am
  • 44ADA ( Profession)
Hi Amlan, Greetings of the day.

I'm working for a software company and also doing freelancing. I'm earning about same amount income from both. Can you please suggest which ITR form should I fill. Also please suggest can I go with freelancing income under presumptive income.

Edit: I'm a Software Pr...
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Amlan Dutta
Presumptive section clearly classifies which all professions are covered ...if your qualifies for technical consultancy you can else no .....i beleive you qualify and can use ITR 4 for AY 2019 20 to reflect your scope of taxable income from both salary and profession
  • July 23, 2019
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