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keval vakani

Category : Communic..,
Solved
May 31, 2018 1:31 pm
  • Communication of proposed adjustment u/s 143(1)(a)(vi)
Respected Sir,
i filled NIL INCOME-TAX RETURN FOR ASSESSMENT YEAR 2017-18
now i got a notice from income-tax department as below

Addition of income appearing in Form 26AS which has not been included in computing the total income in the
return-143(1)(a)(vi)

Head of Income Form used for Income as...
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Amlan Dutta
I can see from your tax credit statement I.e Form 26 as , that you had interest income and salary income ....However you have shown only only salary income while filing return of income ....Basically you had FD accrued interest income from UCO bank (Rs 9325 ) & two with Bank of India ( Rs 9785 & ...
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I can see from your tax credit statement I.e Form 26 as , that you had interest income and salary income ....However you have shown only only salary income while filing return of income ....Basically you had FD accrued interest income from UCO bank (Rs 9325 ) & two with Bank of India ( Rs 9785 & Rs 4757)....all this shall total to 23868 Rs /- ...you haven't considered this in your scope of taxable income and that is why the department is proposing to add this ...i see that your total income is 2.07 lakhs ...even if you add this , the taxable income will be 2.31 lakhs which is below threshold level and so it shall still remain a nil return ....but , you are now needed to do the following steps ..... Head towards e proceeding in your dashboard...opt for yes and click on prima facie adjustment hyperlink ...then next click on submit which shall show the table for proposed adjustment ...since in this case the demand is valid , you will click on agree and submit ....you are now required to submit revised return under section 139(5) .......You can mail me your credentials in case you want me to file this for you ...i will be recording it though for the benefit of all ...you can alternatively watch my tutorial on how to revise return after receiving such adjustment notice! <br /> Youtube video Link - https://www.youtube.com/watch?v=Lthwwwupth4
I can see from your tax credit statement I.e Form 26 as , that you had interest income and salary income ....However you have shown only only salary income while filing return of income ....Basically you had FD accrued interest income from UCO bank (Rs 9325 ) & two with Bank of India ( Rs 9785 & Rs 4757)....all this shall total to 23868 Rs /- ...you haven't considered this in your scope of taxable income and that is why the department is proposing to add this ...i see that your total income is 2.07 lakhs ...even if you add this , the taxable income will be 2.31 lakhs which is below threshold level and so it shall still remain a nil return ....but , you are now needed to do the following steps ..... Head towards e proceeding in your dashboard...opt for yes and click on prima facie adjustment hyperlink ...then next click on submit which shall show the table for proposed adjustment ...since in this case the demand is valid , you will click on agree and submit ....you are now required to submit revised return under section 139(5) .......You can mail me your credentials in case you want me to file this for you ...i will be recording it though for the benefit of all ...you can alternatively watch my tutorial on how to revise return after receiving such adjustment notice! <br /> Youtube video Link - https://www.youtube.com/watch?v=Lthwwwupth4 +2
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  • May 31, 2018
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Bhavesh Gohil

Category : RETURN F..,
Solved
May 31, 2018 1:21 pm
  • RETURN FILING
Dear Almanji

Suppose as per Bank Interest Certificate Rs.1,19,000.00 and 26 as Rs.1,13,000.00 Display and when I have file ITR 1 file F.Y.2017-18 saw amount Rs.1,10,000.00 which amount consider and file file ITR F.Y.2017-18.

Thanks in Advance
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Amlan Dutta
Tell bank to file TDS return properly so that the 26 as figures also reflect the correct interest income ....you can put in 1,19,000 once the figures start to appear correctly in 26 as ...what the return prefills has no consequence ..basically the 26as figures are considered for income and tax credi...
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  • May 31, 2018
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deepak

Category : INCOME S..,
Solved
May 31, 2018 1:13 pm
  • INCOME SCHEDULE - CAPITAL GAINS
dear amlan jee
if i have occured loss in share market and do not wish to show in itr
can i omit bcause it is neccessary to get your account audited if you want to carry loss forward pls guide
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deepak
sorry in a hurry and confusion i had posted query any way thanx a lot for answering it again,loss is basically capital loss on delivery basis in stocks,could you pls guide me where i have to put the loss in itr 2,will it be forwarded automatically putting - negative value in shares section under ful...
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  • May 31, 2018
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Amlan Dutta
If it is loss from delivery, then it is treated as capital gains ....so business income/loss doesn't arise and so question of audit doesn't arise .....You can simply fill the capital gain schedule with respect to stocks ....it will automatically compute the losses and carry it forward ...you shall b...
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  • May 31, 2018
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RAVIKUMAR JENTIBHAI NAGAR

Category : Taxation..,
Solved
May 31, 2018 12:30 pm
  • Taxation of Fixed deposit
sir, my annual income is not taxable in fy 2017-18 but this year I got Rs. 500000/- amount on bank FD (seven-year maturity) so now my income taxable or not
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Amlan Dutta
Every assessment year is treated separately ...for given assessment year , for individual if the gross total income exceeds threshold level , then he/she is required to file return of income ...assuming that you are a non senior resident individual , your threshold level is 2.5 lakhs for FY 2017 1...
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  • May 31, 2018
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