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Filing return of earlier previous years
Section 119(2)(b) Delayed filing
Section 92 CD Advance Pricing agreement
General
INCOME TAX
ASSESSMENT PROCESS
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DEDUCTIONS UNDER SECTION 80
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80DDB - Medical Treatment of specified disease
80 DDB - Senior citizen - Self or dependent
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80E - Interest on loan taken for higher education
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80G - (Eligible Amount)- Donations to certain funds, charitable institutions, etc
80GG - Rent Paid
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80GGA - Certain donations for scintific research or rural development
80GGC - - Donation to political party.
80QQB - Royalty income of authors of certain books
80RRB - Royalty on patents
80TTA - Income from interest on saving banks Accounts
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Exempt Income
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FILING AY 2018 19
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TRANSFER PRICING
UTILITY FILING ISSUES
JAVA utility not getting saved
Salary in income schedule less than 90% of salary income in TDS schedule
Unclaimed TDS bought forward and current year TDS separate rows
You can execute a gift deed by visiting a lawyer ...the deed has a certain drafting style ..it mentions the donor and donee details , the relationship , the mode of payment , the amount , the tax payment details etc (lawyer shall be able to guide on this )...Since wife falls under the definition of ...
You can execute a gift deed by visiting a lawyer ...the deed has a certain drafting style ..it mentions the donor and donee details , the relationship , the mode of payment , the amount , the tax payment details etc (lawyer shall be able to guide on this )...Since wife falls under the definition of relative, so the 65 lakhs in her hand is exempt but note that if she invests this money anywhere, then the income from the investment based on income head shall get clubbed to your account ( U/s 64 attracting clubbing provisions ) ...for example , if say she puts the money in FD, then the interest income (say 4.8 lakhs) from this gets clubbed to your income under income from other sources.)
You can execute a gift deed by visiting a lawyer ...the deed has a certain drafting style ..it mentions the donor and donee details , the relationship , the mode of payment , the amount , the tax payment details etc (lawyer shall be able to guide on this )...Since wife falls under the definition of ...
You can execute a gift deed by visiting a lawyer ...the deed has a certain drafting style ..it mentions the donor and donee details , the relationship , the mode of payment , the amount , the tax payment details etc (lawyer shall be able to guide on this )...Since wife falls under the definition of relative, so the 65 lakhs in her hand is exempt but note that if she invests this money anywhere, then the income from the investment based on income head shall get clubbed to your account ( U/s 64 attracting clubbing provisions ) ...for example , if say she puts the money in FD, then the interest income (say 4.8 lakhs) from this gets clubbed to your income under income from other sources.)
hello sir . my brother is in job and getting salary around rs 650000/ p.a, now if he transfer money to father bank account rs 30000 every month so whether father is liable to tax or not
Here son has gifted to father ...we have to check son from the purview of relative as per income tax ....since ,son falls in the definition of relative, any money received by son( relative ) is tax free i.e exempt in the hands of father ...it will not be taxable in the hands of father ...select quer...
Here son has gifted to father ...we have to check son from the purview of relative as per income tax ....since ,son falls in the definition of relative, any money received by son( relative ) is tax free i.e exempt in the hands of father ...it will not be taxable in the hands of father ...select query category properly next time (last warning)
Here son has gifted to father ...we have to check son from the purview of relative as per income tax ....since ,son falls in the definition of relative, any money received by son( relative ) is tax free i.e exempt in the hands of father ...it will not be taxable in the hands of father ...select quer...
Here son has gifted to father ...we have to check son from the purview of relative as per income tax ....since ,son falls in the definition of relative, any money received by son( relative ) is tax free i.e exempt in the hands of father ...it will not be taxable in the hands of father ...select query category properly next time (last warning)
Hi Amlan, My employer gives 3300 as Diwali gift which they show in exempted income in tax slips. Is 56(2) the place to record it in ITR? If yes, I guess, I need to choose 'Any Other' option in exempted income section to report it. Thanks
Hello Amlan, 1. In case of Marriage, (a). Is it necessary to show the gifts received in form of : Money(cash & in digital form), jewellery ,Mobile, other items from spouse/relatives. And gift/Money received from other guests in ITR-1? (b). Is the limit of 50,000 under section 56 applies here too? ...
Hello Amlan, 1. In case of Marriage, (a). Is it necessary to show the gifts received in form of : Money(cash & in digital form), jewellery ,Mobile, other items from spouse/relatives. And gift/Money received from other guests in ITR-1? (b). Is the limit of 50,000 under section 56 applies here too?
if yes, then how to convert gifts( as usual in large no.) value in form of money? And, where to show them in ITR-1. if No, will there no problem & implications arises at later stage?
(a). Is it necessary to show the gifts received in form of : Money(cash & in digital form), jewellery ,Mobile, other items from spouse/relatives. And gift/Money received from other guests in ITR-1?
This are all exempt but must be shown under exempt...
(a). Is it necessary to show the gifts received in form of : Money(cash & in digital form), jewellery ,Mobile, other items from spouse/relatives. And gift/Money received from other guests in ITR-1?
This are all exempt but must be shown under exempt income reporting section under any other - as separate entries received during marriage
Ask valuation agency to value those items ......valuation certificate is enough ....go to a local lawyer ...he shall guide you to any valuation agency
(b). Is the limit of 50,000 under section 56 applies here too? No , during marriage , everything is exempt ...Marriage and inheritance are two cases where anything received is exempt whether be it from relative or non relative.....no limit etc of 50,000 .......
Avoid words like " in detail etc" ...i write only when i get time and only till the extent i feel is needed
(a). Is it necessary to show the gifts received in form of : Money(cash & in digital form), jewellery ,Mobile, other items from spouse/relatives. And gift/Money received from other guests in ITR-1?
This are all exempt but must be shown under exempt...
(a). Is it necessary to show the gifts received in form of : Money(cash & in digital form), jewellery ,Mobile, other items from spouse/relatives. And gift/Money received from other guests in ITR-1?
This are all exempt but must be shown under exempt income reporting section under any other - as separate entries received during marriage
Ask valuation agency to value those items ......valuation certificate is enough ....go to a local lawyer ...he shall guide you to any valuation agency
(b). Is the limit of 50,000 under section 56 applies here too? No , during marriage , everything is exempt ...Marriage and inheritance are two cases where anything received is exempt whether be it from relative or non relative.....no limit etc of 50,000 .......
Avoid words like " in detail etc" ...i write only when i get time and only till the extent i feel is needed
