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dhiraj gopalkrishna janja

Category : TDS mism..,
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May 10, 2018 3:54 pm
  • TDS mismatch in Form 16 and 26 AS
hello sir, my ques. is form no 16A and 26AS TDS doesn't match . What should i do

Also, which value fill should i fill in ITR 1 for salary income from form 16 or 26 AS
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Amlan Dutta
Normally, the last quarter TDS figures takes time to appear in form 26 AS ...you will be able to only claim credit to the extent appearing in form 26 AS ...so in case you see no progress in form 26 AS as far as TDS is concerned , take it up with your employer (for filing of TDS returns ) ...regards ...
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Normally, the last quarter TDS figures takes time to appear in form 26 AS ...you will be able to only claim credit to the extent appearing in form 26 AS ...so in case you see no progress in form 26 AS as far as TDS is concerned , take it up with your employer (for filing of TDS returns ) ...regards income , you will use form 16 to put in chargeable income from salary in the return<br /><br />Like in below case , i cannot put income from salary from 26 AS because if you observe closely it is my gross salary (salary + perquisites + profit ) , so i will have to consider only my form 16 salary ( point 6 ) i.e 1174206 <br /><br />As regards TDS , i check my form 16 and see 134940 rs has been deducted but to get full credit of the same , i have to ensure that the same appears in form 26 as ..if it doesn't , i will inform my employer in this regard and wait for updation to claim salary TDS credit.
Normally, the last quarter TDS figures takes time to appear in form 26 AS ...you will be able to only claim credit to the extent appearing in form 26 AS ...so in case you see no progress in form 26 AS as far as TDS is concerned , take it up with your employer (for filing of TDS returns ) ...regards income , you will use form 16 to put in chargeable income from salary in the return<br /><br />Like in below case , i cannot put income from salary from 26 AS because if you observe closely it is my gross salary (salary + perquisites + profit ) , so i will have to consider only my form 16 salary ( point 6 ) i.e 1174206 <br /><br />As regards TDS , i check my form 16 and see 134940 rs has been deducted but to get full credit of the same , i have to ensure that the same appears in form 26 as ..if it doesn't , i will inform my employer in this regard and wait for updation to claim salary TDS credit. +2
  • May 10, 2018
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Dilip dwivedi

Category : How to f..,
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May 10, 2018 10:37 am
  • How to fill Salary breakup in ITR 1
Dear amlan sir
I want to fill up itr 1for AY 2018-19 but some problem are create in salary details.options.. My salary have (-basic salary+d.a+hra+bonus)and no other allowances
Plz help as soon as possible so that I can fill itr..my problems are
1- what amount of salary's (basic,da,hra,bonus)are e...
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Amlan Dutta
You should have your pay slip and a copy of your form 16 ...now you have gross salary mentioned in form 16 ( inclusive of salary plus all non exempt allowances ...so clearly you only need to remove salary portion to get the non exempt allowances portion ...

Step - 1 - Identify the Gross salary

I.e th...
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You should have your pay slip and a copy of your form 16 ...now you have gross salary mentioned in form 16 ( inclusive of salary plus all non exempt allowances ...so clearly you only need to remove salary portion to get the non exempt allowances portion ...<br /><br />Step - 1 - Identify the Gross salary <br /><br />I.e this salary is salary+ all non exempt allowances ( da, non exempt HRA , washing etc etc whatever applies since this may vary from person to person)<br />This will be point 1 (a) of form 16 i.e salary as section 17(1) <br /><br />...........( say 10 lakhs )<br /><br />Step - 2 Separate the basic salary from the gross chargeable figure <br /><br />Now our aim is to remove salary from the non exempt allowances , here you shall need your 12 month payslips ( just consider the basic portion only ) <br /><br />Ignore everything else i.e DA & every other allowance i.e washing HRA etc etc other exempt and non exempt allowances ) ...Put this under salary <br /><br />........(say 6 lakhs )<br /><br />Step - 3 - Arriving at Non exempt allowances <br /><br />This is gross salary (alone) MINUS salary as in step 2 MINUS the exempt allowances (say 20,000) as indicated in form 16 <br /><br />Therefore you shall compute i.e <br />i.e Gross salary(Point 1(a) of form 16) MINUS salary as calculated in step (2) minus i.e sum total of exempt allowances under section 10 (Point 2 of form 16)<br /><br />....10 lakhs - 6 lakhs -0.2 = 3.8 lakhs (value of non exempt allowances)<br />so figure for non exempt allowances is 3.8 lakhs .......<br /><br /><br />Step - 4 -Value of perquisites under section 17(2)<br /><br />Check figures for perks , perquisites , etc from point 1(b) of form 16 (section 17(2))..If not present or indicated as nil , you will put 0<br /><br />Step 5 - Profits in lieu of salary( section 17(3)<br /><br />Check figures for perks , perquisites , etc from point 1(c) of form 16 (section 17(3))..If not present or indicated as nil , you will put 0.<br /><br />Step 6 - Deduction under section 16<br /><br />Check this from from Point 4 of form 16 <br />Usually (a) Entertainment allowance and <br />(b)tax on employment etc (say 2500 Rs )<br /><br />Step - 7 - You will therefore finally arrive at figure for chargeable income from salary which is presented for tax <br /><br />(Note - If it doesn't match form 26 as , it is okay since 26 as depends on TDS filing and usually for companies show the gross amount credited )<br /><br />(Step - 7 - show the exempt allowances for salary like Exempt HRA, exempt conveyance etc etc in reporting schedule )<br /><br /><br />Take care so that the chargeable income from salary (point 6 of form 16 ) should match presented salary income in return<br /><br /><br />(Check attached pictures for my real live case )
You should have your pay slip and a copy of your form 16 ...now you have gross salary mentioned in form 16 ( inclusive of salary plus all non exempt allowances ...so clearly you only need to remove salary portion to get the non exempt allowances portion ...<br /><br />Step - 1 - Identify the Gross salary <br /><br />I.e this salary is salary+ all non exempt allowances ( da, non exempt HRA , washing etc etc whatever applies since this may vary from person to person)<br />This will be point 1 (a) of form 16 i.e salary as section 17(1) <br /><br />...........( say 10 lakhs )<br /><br />Step - 2 Separate the basic salary from the gross chargeable figure <br /><br />Now our aim is to remove salary from the non exempt allowances , here you shall need your 12 month payslips ( just consider the basic portion only ) <br /><br />Ignore everything else i.e DA & every other allowance i.e washing HRA etc etc other exempt and non exempt allowances ) ...Put this under salary <br /><br />........(say 6 lakhs )<br /><br />Step - 3 - Arriving at Non exempt allowances <br /><br />This is gross salary (alone) MINUS salary as in step 2 MINUS the exempt allowances (say 20,000) as indicated in form 16 <br /><br />Therefore you shall compute i.e <br />i.e Gross salary(Point 1(a) of form 16) MINUS salary as calculated in step (2) minus i.e sum total of exempt allowances under section 10 (Point 2 of form 16)<br /><br />....10 lakhs - 6 lakhs -0.2 = 3.8 lakhs (value of non exempt allowances)<br />so figure for non exempt allowances is 3.8 lakhs .......<br /><br /><br />Step - 4 -Value of perquisites under section 17(2)<br /><br />Check figures for perks , perquisites , etc from point 1(b) of form 16 (section 17(2))..If not present or indicated as nil , you will put 0<br /><br />Step 5 - Profits in lieu of salary( section 17(3)<br /><br />Check figures for perks , perquisites , etc from point 1(c) of form 16 (section 17(3))..If not present or indicated as nil , you will put 0.<br /><br />Step 6 - Deduction under section 16<br /><br />Check this from from Point 4 of form 16 <br />Usually (a) Entertainment allowance and <br />(b)tax on employment etc (say 2500 Rs )<br /><br />Step - 7 - You will therefore finally arrive at figure for chargeable income from salary which is presented for tax <br /><br />(Note - If it doesn't match form 26 as , it is okay since 26 as depends on TDS filing and usually for companies show the gross amount credited )<br /><br />(Step - 7 - show the exempt allowances for salary like Exempt HRA, exempt conveyance etc etc in reporting schedule )<br /><br /><br />Take care so that the chargeable income from salary (point 6 of form 16 ) should match presented salary income in return<br /><br /><br />(Check attached pictures for my real live case ) +3
  • May 10, 2018
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Jitendra B
Dear Amlan, This excel if you can send or attach, it will be helpful to use as a template.
  • September 5, 2018
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SHIVAM KAMLESH SAHAY

Category : Request..,
Solved
May 9, 2018 9:00 pm
  • Request
Good evening Sir, I am sorry if I am bothering you. Please can you tell me when will you launch your book Sir. thank you.
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Amlan Dutta
It may take some time on account of the recent changes in the act and also considering the fact that a task force is being set up to redraft the income taxes....
  • May 10, 2018
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Biswajit Sarkar

Category : Income t..,
Solved
May 7, 2018 11:28 pm
  • Income tax
Hi Amlan,
Thanks a lot for such a great initiative.
Learn lots of thing from your YouTube videos.
Recently I received a mail from income tax department regarding tax filing.

As per mail "it was found that it contains arithmetical errors/ incorrect claims/ inconsistencies with respect to Audit Report /Fo...
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Amlan Dutta
Check tutorial for adjustment intimation notice under section 143(1)(a)...if you don't agree , then head towards the eassessment and reply accordingly ....form 26 as is not the correct picture of chargeable income , form 16 alone can help one to determine chargeable income but you should be able to ...
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  • May 9, 2018
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