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Munir Rasiwala

Category : Income t..,
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March 27, 2016 5:58 pm
  • Income tax
My next question is

Based on my form 26as it only shows TDS by company that employed me.Should I strictly stick to that while filing.

There is no mention of income from share trade that I did in that year.Is it possible that it did not come in 26as because i did not submit some form to the bank t...
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Munir Rasiwala
Thanks Amlan for your answer,
I watched the videos you mentioned and further to this next question is that my employer has mentioned a certain tds deducted in form 26as for assessment year 2014-2015 ...now since this was few years back I cannot immediately trace the transaction of salary deposit so c...
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  • March 29, 2016
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Munir Rasiwala
ok thanks for your reply ,further to my case I received intimation 139(9) to rectify the wrong details I had put while processing ITR1 for assesment year 2014-2015,the notice mentions says a possible solution as follows,please see screenshot attached

NOTICE SAYS ------"The tax payer should pay the ba...
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ok thanks for your reply ,further to my case I received intimation 139(9) to rectify the wrong details I had put while processing ITR1 for assesment year 2014-2015,the notice mentions says a possible solution as follows,please see screenshot attached<br /><br />NOTICE SAYS ------"The tax payer should pay the balance tax liability and furnish complete details in the corrected xml. Kindly ensure that there is no tax payable at the time of uploading the corrected XML."<br /><br /><br />I do have a previous payable amount to tax office for assessment year 2012-2013 are they referring to that can you please explain in simple what this means if my understanding is incorrect or it is on ly for this assesment year 2014-2015
  • April 4, 2016
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Munir Rasiwala

Category : Income t..,
Solved
March 27, 2016 5:45 pm
  • Income tax
hi,
first i must say your video are truly knowledge base and inspiring,great work sir.

My question is about ITR1 revision,i saw some of your videos but got only information that the return cannot be revised as i am already late.. but please read below details and confirm what is to be done now

I r...
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Amlan Dutta
In future correspondence with me , always make it a point to very clearly mention whether you speak of previous financial year or assessment year

For AY 2014 15 ( Implying financial year 2013 14 ), you were need to file return of income with details of income and taxes for the financial year 2013 1...
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1009 (Rectification) How to submit Online Rectification request for correcting data in tax return
1018(Income tax) How to file Online Rectification request for correcting data in tax return Video - https://www.youtube.com/watch?v=3XEex6eqCsI Narration - B...
  • March 27, 2016
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Vipul Acharya

Category : Income t..,
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March 27, 2016 5:09 pm
  • Income tax
Whether receipts from running buses can be declared under Income Tax Act?
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Amlan Dutta
If income head is from profession and this receipts from running buses pertain to travel for the profession , then you can claim expenses for the same. Under any other head , they shall not be allowed.
  • March 27, 2016
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Vimal Kumar

Category : Income t..,
Solved
March 27, 2016 4:52 pm
  • Income tax
Hi Amlan,

I have a query regarding Form 26QB(Purchase of Immovable Property u/s 194IA). I got a note from CPC that this is not yet filled for the property which I bought in year 2014.
Can you please guide me on below -
1. As per my understanding, the 1% TDS has to be deducted by buyer during purchase ...
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Amlan Dutta
Say the property price is 100 Rs , then you have to deduct 1 rs and pay seller 99 Rs.

This 1 Rs , you shall have to deposit using challan and fill form 26 QB (TDS return ) and then using these details register in TDS trace website to generate TDS certificate form 16 B which you are supposed to hand o...
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  • April 1, 2016
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Vimal Kumar
Thanks Amlan for detail response as this is certainly useful.

In summary, I will need to check with Seller if my additional 1% he can return now once I make the payment and share with him Form 16B.

The other thing which I was thinking is will it not be the case that Seller would have paid the 1% TDS h...
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  • April 3, 2016
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