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Hemen

Category : 80D - He..,
Solved
August 1, 2018 3:50 pm
  • 80D - Health Insurance premium
Dear Amlan
Recently I have noticed that in ITR-1 , u/s 80 D is divided into 3 parts out of which premium and preventive health checkup part I know about it. But I have no idea about medical expenditure part. Means condition, limit etc. would you please give a little bit knowledge about it. thanking y...
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Amlan Dutta
That is in addition to medical insurance and limit is 5000 rs for expenses towards preventive medical checkup
  • August 1, 2018
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Ramesh Kumar

Category : ITR 2..,
Solved
August 1, 2018 7:18 am
  • ITR 2
How do I mention following thing in ITR-2 of excel utility?
1. Exempt Income of interest for saving account below 1000
2. Dividend of Rs 5000
3. Rs 9963 of interest earned(in 17-18) from tax saver deposit started in 2012
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Amlan Dutta
1. Exempt Income of interest for saving account below 1000
It is not exempt ...say figure is 1000 Rs , you will show it under income from other sources and claim deduction benefit under
80 TTA for lower of 10000 rs or saving interest

2. Dividend of Rs 5000
In exempt income schedule

3. Rs 9963 of interes...
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1. Exempt Income of interest for saving account below 1000<br />It is not exempt ...say figure is 1000 Rs , you will show it under income from other sources and claim deduction benefit under <br />80 TTA for lower of 10000 rs or saving interest<br /><br />2. Dividend of Rs 5000<br />In exempt income schedule<br /><br />3. Rs 9963 of interest earned(in 17-18) from tax saver deposit started in 2012<br />This refers to FD interest income - again totally taxable without any deduction benefit <br />So you will put in income from other sources 1000 + 9963 = 10963 Rs
1. Exempt Income of interest for saving account below 1000<br />It is not exempt ...say figure is 1000 Rs , you will show it under income from other sources and claim deduction benefit under <br />80 TTA for lower of 10000 rs or saving interest<br /><br />2. Dividend of Rs 5000<br />In exempt income schedule<br /><br />3. Rs 9963 of interest earned(in 17-18) from tax saver deposit started in 2012<br />This refers to FD interest income - again totally taxable without any deduction benefit <br />So you will put in income from other sources 1000 + 9963 = 10963 Rs +2
  • August 1, 2018
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sudhir padhy

Category : Gratuity..,
Solved
August 1, 2018 1:06 am
  • Gratuity on resignation
I resigned one company and joined another. My previous company has paid me gratuity, but its not mentioned in form 16. How can I file that? In schedule s - 7 - iv - Other allowances I can only see "Death cum retirement gratuity recieved", under which section can I show this?
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Amlan Dutta
You will show exempt gratuity income under exempt head " death cum retirement gratuity received" only ...the word retirement here is extensive in scope and applies to resignation as well ...once service is over on account of one reaching age limit is termed superannuation, that is called superann...
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  • August 1, 2018
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Bhupendra Singh

Category : 80CCD(2)..,
Solved
July 31, 2018 9:07 pm
  • 80CCD(2) - Employer contribution towards NPS
Subject: Regarding NPS contribution by the employer

Dear Amlan Ji
I am fortunate to see your videos regarding filing of ITR and I must say that you are doing a noble voluntary work. Thanks for all such efforts.

I have a small query: (Will keep it simple in few lines)

(1) I am a Govt. Employee and along ...
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Amlan Dutta
Income is put under relevant head only ...you cannot show stock gains in House property or business gains under salary ...if you do so charging section itself shall fail and return deemed useless ..there is no way pension qualifies for income from other sources.

Pension i.e (Employer contribution tow...
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  • July 31, 2018
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Bhupendra Singh
Dear Amlan Ji

Thanks for your prompt reply. However my query is little bit different. I forgot to attach the image last time. Please find it so that my confusion would be more clear to you as well:

Actually my employer contribution does not reflect in my monthly salary. Moreover in Form 16 (A&B) and a...
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Dear Amlan Ji<br /><br />Thanks for your prompt reply. However my query is little bit different. I forgot to attach the image last time. Please find it so that my confusion would be more clear to you as well:<br /><br />Actually my employer contribution does not reflect in my monthly salary. Moreover in Form 16 (A&B) and as well as in 26AS also, it does not get added to make the gross salary (first head of ITR form). However, in Form 16B you can see that the office mentions it (the employer contribution to NPS) for the first time (No. 7: Any other income reported by employee [c] TIER-I, Inst. Const.) then they add it there in the head GROSS TOTAL INCOME.<br /><br />Now my confusion is, while filing ITR, where should I mention it because there is no option like this (refer to the attached image). I doubt whether I should show it as income from other sources. I seriously need your guidance on this. I am open for other informations, if required.<br /><br /><br />Thanks and regards<br />Bhupendra
  • August 2, 2018
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