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NIRAJ SINGH

Category : TCS..,
Solved
April 28, 2018 9:58 am
  • TCS
Form 26AS pic is attached. Please tell me the TAX Treatment for the AY 2018-19
My friend has taken a Car Loan of Rs1134990 & Form 26AS shows TCS of Rs11350
My Query is:-
a) Can we claim TCS of Rs11350
b) Where we will show Rs1134990 (i.e., Amount Paid)
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Amlan Dutta
a.) He can surely claim credit and he shall be doing it in schedule TCS for the same ....

b.) The amount paid shall be depicted under under Schedule TCS, column 3
(Note the loan amount is not income and therefore not to be shown in the income s...
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a.) He can surely claim credit and he shall be doing it in schedule TCS for the same .... <br /> <br />b.) The amount paid shall be depicted under under Schedule TCS, column 3 <br />(Note the loan amount is not income and therefore not to be shown in the income schedule at all , it is just to be depicted in the amount paid portion of the tax details schedule)
  • April 28, 2018
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NIRAJ SINGH

Category : Income t..,
Solved
April 28, 2018 9:12 am
  • Income tax
TDS under section 194A is deducted. Two information is given----
1) TDS Amount.
2) Amount Credited on which TDS is deducted.

My query is "Amount Credited is inclusive of both Fixed Deposit's interest & Savings Interest or It shows only FD's interest
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Amlan Dutta
Amount credited is just reflective of FD interest ...for savings , you can take the statement and sum up the interest credit entries
  • April 28, 2018
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Mohit

Category : 44ADA ( ..,
Solved
April 27, 2018 11:53 pm
  • 44ADA ( Profession)
Providing web site development services by individuals fall under which section 44ad or 44 Ada, but as per 26 as TDS deducted us 194 j? Please clear my doubt in choosing section
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Mohit
Acutely this TDS deducted on amc of maintaining web site......and my other income is under PROFESSIONAL.........
  • August 23, 2018
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Mohit
I got the notice from income tax department regarding this mismatch of income ( 99% 94 j and 1 % 94 c )
  • August 23, 2018
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NIRAJ SINGH

Category : 44 AD ( ..,
Solved
April 27, 2018 11:23 pm
  • 44 AD ( Business income)
My friend Ram is a Qualified B.Tech Engineer running a Coaching Center, where class 1 to 10 students can take classes. His total fee collection (i.e., Gross Turnover Or Gross Receipts) is Rs 20lakh
In which section he can show his income--44ADA Or 44AD?
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Amlan Dutta
Running a coaching centre is a business ...so he is clearly required to use section 44AD and not 44ADA( which is for professionals) ...i guess that is anyways better for him because now he can show presumptive income at 8 % which section 44AD allows rather than the ginatly 50 % required by 44ADA for...
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  • April 27, 2018
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