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HEMANT SUREKA

Category : ITR 2..,
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June 11, 2018 10:42 pm
  • ITR 2
I have incurred Long term capital loss on sale of shares where STT was paid and was traded in NSE Ltd during the FY 2017 18 . Please mention where should i show the buy sale figures in ITR 2 form for AY 2018 19
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Amlan Dutta
Long term capital loss from shares ( delivery ) is exempt head and so need not be shown in return ...The concept flows like this that loss from a head whose income is exempt shall also be treated as exempt ...so, when LTCG is exempt , LTCL is also treated as exempt and need not be show in return bec...
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  • June 12, 2018
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KARMVEER SINGH

Category : 80CCD(1B..,
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June 11, 2018 9:53 pm
  • 80CCD(1B) - Employee contribution NPS.
What to do when my employer didn't show deduction u/s 80ccd(1b) and he show entire amount u/s 80cccd. And I have already made investment of Rs 150,000 u/s 80c excluding Nps(my contribution).Can I claim deduction u/s 80ccd(1b). In future after return filing I can also receive notice u/s 143(1a) for m...
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Amlan Dutta
You surely can claim NPS investment under 80 CCD (1B)...actually this is a perfect case where you must. Well , you may get a communication for proposal of adjustment but you can always reply and defend your position which will be accepted since you are claiming in accordance with provisions of the a...
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  • June 11, 2018
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BALAKRISHNAN

Category : ASSESSME..,
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June 11, 2018 8:44 pm
  • ASSESSMENT PROCESS
Hi Amlan,

Thank you so much for all your contributions , i have a Query , I filed ITR1 - Original returns and forgot to show exempted income( HRA and Conveyance ) so i filed revised return , and after checking your videos on how to file ITR1 for AY 2018-19 i came to know i missed to update salary b...
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Amlan Dutta
There should be no problem but i advise that you file a revised return showing all the exempt salary allowances as well ... there will be no problem and assessing officer will consider the latest filed return only ...you will get a 143(1) intimation for the latest return ( everybody gets a 143(1)...
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  • June 11, 2018
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FIROZ ALAM

Category : Exempt I..,
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June 11, 2018 10:26 am
  • Exempt Income
While filing ITR 1 FOR A/Y 2018-19, how to report exempt salary allowances like HRA, conveyance allowances & Uniform Allowance. Can i add transport and uniform allowance and mention it together .
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Amlan Dutta
Transport and uniform allowance is covered under 10(14(i)
Basically, the amount exempt under section 10 (14)(i) which covers Travelling allowance, daily allowance , conveyance allowance , helper allowance , academic allowance an...
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Transport and uniform allowance is covered under 10(14(i) <br /> Basically, the amount exempt under section 10 (14)(i) which covers Travelling allowance, daily allowance , conveyance allowance , helper allowance , academic allowance and uniform allowance shall be least of the following 1.) Amount received 2.) Amount actually spend towards the performance of the duty You will show the exempt portion in exempt income for reporting purpose (see the attached screenshot) (Refer to my video on how to show salary exempt allowances in tax return) Regarding HRA, eligible portion of it is exempt under section 10(13A)........ you can show it accordingly.
  • June 11, 2018
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