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Sudam Maharana

Category : Tax Comp..,
Solved
July 28, 2019 6:39 pm
  • Tax Computation
Dear Amlan ji, I hv little confusion in calculating income tax, hope u wl clarify.
This AY I hv received my last year salary arrears and I m also eligible for 80GG deduction. Below r d salary details.
Gross total salary including arrears - 689105
Arrears - 39227
80C-150000
80D-5400
80G-1200
NPS own-47055
...
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Amlan Dutta
Sorry, this site is not meant for all this , you can seek form 16 from employer and put in the respective figures in the ITR website and you shall get the tax computation computed by utility itself based on slabs on taxable income!

Just so that you know the concept , tax is applied on taxable income...
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  • July 29, 2019
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Sudam Maharana
Thank u Amlan ji for your replay. I think there is some twist while taking relief u/s 89 along with 80GG deduction.
  • July 30, 2019
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Prasad Shirodkar

Category : LTCG on ..,
Solved
July 28, 2019 3:17 pm
  • LTCG on stocks
Hello Sir, Thanks for your help on my earlier questions. Your answers to various questions has been very helpful. I have a question regarding taxation on LTCGMy mom has 200 shares from Bayer Cropscience. They were transfered to her name after my fathers death. She wants to sell the shares. What is t...
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Amlan Dutta
Earlier they used to be exempt under 10(38)....this has now been removed ...taxability u/s 112 A applies ...gains till 1 lakh rs still remain exempt ...over that any arising capital gains are taxed at 10 % .......
  • July 28, 2019
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Shashank Yadav

Category : Taxabili..,
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July 28, 2019 2:57 pm
  • Taxability of Interest Income
Dear Sir

I have a query that

On FD interest bank deduct 10% TDS so is it necessary to show FD interest in irt at "income from other sources".

Sir can I file itr without showing FD interest at "income from other sources" and without claiming TDS which is deducted on Fd interest.
Because bank has alr...
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Amlan Dutta
Brush up your concepts seeing some fundamental articles ...i cannot cement fundamentals in my answers ...anyways long story cut short , taxability is as per slabs on total income whereas TDS is done as per TDS sections ...for bank interest it is done at 10 % , however the actual taxability of the FD...
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  • July 28, 2019
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Saptarshi Kundu

Category : DTAA..,
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July 28, 2019 10:19 am
  • DTAA
I work in a MNC, and currently at Canada. My tax residency is Canada for the FY18-19, and while filling the ITR2 for the FY18-19 I got confused on where to show my Foreign Income from Salary. I believe it should be declared under EI (Exempted Income) - however not sure where exactly I need to show m...
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Amlan Dutta
If your taxable residential status for FY 2018 29 is non resident , the Canadian income doesn't fall under scope of indian taxable income ....

i personally don't believe that it has to be offered under exempt income head as well ......the articles of DTAA putting in tax relief by credit /deduction/e...
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  • July 28, 2019
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