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Ritesh Chaudhari

Category : How to p..,
Solved
March 25, 2019 7:18 pm
  • How to pay self assessment tax
Hello Sir,
My brother's company have not considered proper income for Tax calculation.
After corrected income he need to pay 30000 Tax .
As per my understanding, he need to pay tax amount as either Advance tax ( Before 31 march) or self-assessment tax(After 1 Apr).
Will, Income tax department apply Inte...
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Ritesh Chaudhari
Thank Amlan.
  • March 28, 2019
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Ritesh Chaudhari
Dear Sir,

My brother have done advance tax payment but advance tax payment is not showing on 26A Tax Credit statements.
Is there any time lines to get reflect of advance tax payment in to 6A Tax Credit statements.
  • March 29, 2019
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Sunil Sahoo

Category : Income t..,
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March 25, 2019 9:12 am
  • Income tax
My father gets pension income from his previous employer where he retired from . I want to know whether he can avail benefit of standard deduction of Rs 40000 in F Y 18-19 . i being salaried am availing the standard deduction but i want to know whether pensioners can avail the standard deductio...
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Amlan Dutta
Yes, he can ...There was some confusion in this regard as to whether It has already been clarified by the CBDT vide notification dated April, 2018 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, ...
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  • March 25, 2019
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Sunil Sahoo

Category : Presumpt..,
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March 21, 2019 10:56 am
  • Presumptive taxation
My wife coaches students after completing her education. Will her income be treated as income from profession? If so, which is the code to use under section 44ADA or 44AD?
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Sunil Sahoo
Section 44ADA is applicable to an eligible profession which is defined u/s 44AA(1) of I-T Act, 1961. Your wife is coaching few students, which can be construed as she is engaged in teaching profession. The said profession is not an eligible profession u/s 44AA(1).She will not be eligible to avail t...
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  • March 21, 2019
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Sunil Sahoo

Category : Taxabili..,
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March 21, 2019 10:51 am
  • Taxability of Gratuity
My father retired from retired from a bank on November 11th, 2018. His gratuity amount is approximately 22 Lakh rupees. His employer said that tax exemption on the gratuity is only up to Rs 10 lakh and has added 12 lakhs rs to taxable income. Is this correct
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Amlan Dutta
As per Section 10(10)(ii) of the I-T Act 1961, gratuity received under the Payment of Gratuity Act, 1972 is exempt in the hands of employees to the extent of the limit prescribed. The maximum limit amount of gratuity under the Payment of Gratuity Act, 1972 has been enhanced from Rs 10 lakh to Rs 20 ...
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  • July 10, 2019
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