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SAIKAT DAS

Category : Return f..,
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Dear Amlan, I want to know about
1. how can i save income tax upto 7lacs /annum??

2.Below 4 lacs income ,Paying income tax or Create a new LIC policy ,which is better and why??
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Amlan Dutta
1.) If someone is earning 7 lakhs per annum ,then the tax liability is around 12500 + 40000 =52500 plus cess ....To save tax , he/she can invest in permissible deduction sections under 80 ...a very popular saving is investing under 80 C in PPF to the tune of 1.5 lakhs ...this alone shall make taxabl...
ADITYA MAHATO

Category : Return f..,
Solved
sir
Gob bless u for this noble service. I have FD and savings interest on two different banks but it is not shown in my 26 AS , is it necessary to show on ITR1, if it is less than 10000 and gross salary is more than Rs. 300000, from where can I get it. If u have any tutorial on it please give me the...
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Amlan Dutta
Both saving and FD interest are taxable income , you can check your account statement for the credited interest from savings and accrued interest from fixed deposit ....it doesn't matter what the amounts are , they need to be shown in the return ....take up with your bank so that the FD starts refle...
Zoya

Category : Return f..,
Solved
hello sir,
greetings of the day,

I seek to know where shall we fill the amount of "tax paid by employer" i.e professional tax as been reflected in form 16 while filing ITR 2 ? i am filing it through excel utility

Thanks in advance
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Zoya
I was trying to attach screenshot but seems there is some problem at my end as its not uploading . But i figured out sir its "professional tax" that has been deducted and paid
Amlan Dutta
This is eligible deduction under section 16 ...So, you shall mention this tax on employment i.e professional taxes paid under deduction sunder section 16 ...check attached picture
This is eligible deduction under section 16 ...So, you shall mention this tax on employment i.e professional taxes paid  under deduction sunder section 16 ...check attached picture
NITIN CHOPRA

Category : Return f..,
Solved
If a person retire in middle of year say in May 2017 , how to fill the Income tax form for Salary + Pension i.e. for two with Salary and rest of 10 months with Pension. Please explain.
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Amlan Dutta
Case (i) Pension breakup is not given,
Salary = Salary basic + total pension
Non exempt allowances = ( Form 16 gro...
Anwesha Ghorai

Category : Return f..,
Solved
As a nil return payer the employer didn't provide 16A. In schedule TDS2 bank deducted interest on FD which was made on Aug'17 for 2.5 year & total interest above 10K. I submitted 15G for 2017-18.Which value to be written in Col 6 i.e. the claim amount? Is the amount is totally refundable?
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Amlan Dutta
Employer provides TDS certificate form 16 and not 16 A .....if your taxable income i.e salary plus interest minus any savings (i.e 80 C to 80 U) is below threshold levels , then since your tax liability shall be nil so any TDS deducted by the bank shall be refunded back ...request that you watch a r...
Naresh Yadav

Category : Return f..,
Solved
Dear,sir I have a one question is I am sallired employee and have income of interest of lic premium .so which ITR have filled.ITR 1or ITR 3
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Amlan Dutta
Selection of return must be such that a person can depict all income heads applicable to him /her in the return ...in your case , your scope of income is from salary and interest income ( income from other sources) ...clearly the same can be presented using ITR 1 ....so , you can use ITR 1 ...you ha...
Selection of return must be such that a person can depict all income heads applicable to him /her in the return ...in your case , your scope of income is from salary and interest income ( income from other sources) ...clearly the same can be presented using ITR 1 ....so , you can use ITR 1 ...you have no business income so why should you use ITR 3 and complicate matters ..........check the attached picture where you shall put the salary and the interest income.......
Naresh Yadav
Thank you sir.