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Devendra Kumar Chauhan

Standard deduction of 40000 u/s 16(ii)...
pl clarify standard deductions
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Amlan Dutta
This is available for FY 2018 19 , salaried class people will now get standard deduction (Under section 16 for Rs 40,000/- which will replace the conveyance allowance(19200 rs) and the medical reimbursement(15000 Rs) ...no documentation etc proof needs to be submitted ...
  • August 4, 2018
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sudhir padhy

Gratuity on resignation...
I resigned one company and joined another. My previous company has paid me gratuity, but its not mentioned in form 16. How can I file that? In schedule s - 7 - iv - Other allowances I can only see "Death cum retirement gratuity recieved", under which section can I show this?
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Amlan Dutta
You will show exempt gratuity income under exempt head " death cum retirement gratuity received" only ...the word retirement here is extensive in scope and applies to resignation as well ...once service is over on account of one reaching age limit is termed superannuation, that is called superann...
  • August 1, 2018
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Rahul verma

INCOME SCHEDULE - SALARY...
Sir,my friend has received fees for checking the 10th board exam copy and the deptt shown it in other source of income in form 16 and they deducted the tax also.But while filing the itr for other source of income in efiling it is mentioned that sch TDS2 it must be fill.please guide me on this matt...
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Amlan Dutta
Say, they paid him 1000 Rs and deducted TDS 10 Rs ( This shall appear in the form 26 as )...he is required to fill the income from other sources as 1000 Rs and take tax credit for deducted TDS in schedule 2 of the tax return...all details like TAN number, deductor name , etc etc shall be available ...
Say, they paid him 1000 Rs  and deducted TDS 10 Rs ( This shall appear in the form 26 as )...he is required to fill the income from other sources as 1000 Rs and take tax credit for deducted TDS in schedule 2 of the tax return...all details like TAN number, deductor name , etc etc shall be available in his tax credit statement for the deducted TDS ..Check attached pictures. Say, they paid him 1000 Rs  and deducted TDS 10 Rs ( This shall appear in the form 26 as )...he is required to fill the income from other sources as 1000 Rs and take tax credit for deducted TDS in schedule 2 of the tax return...all details like TAN number, deductor name , etc etc shall be available in his tax credit statement for the deducted TDS ..Check attached pictures.
  • July 24, 2018
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Anurag Kumar

Taxability of Gratuity...
Gratuity received at the time of job switch is taxable or Exempted from tax?
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Amlan Dutta
Same rules for gratuity for resignation as at the time of retirement
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  • July 19, 2018
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Mukund Athavale

Taxability of Gratuity...
I retired in July 2017 from a private company. I got gratuity of Rs.19 lakh which got settled in August 2017. The tax on gratuity was deducted at source considering the tax free gratuity of Rs. 10 lakh.
Now as the tax free limit on gratuity for private companies has been changed as per order dated 2...
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Amlan Dutta
No, you received gratuity before the gratuity revision date ( which was somewhere in Jan 2018 )...Only post Gratuity revision date , will the Gratuity taxation rates be revised and not prior to it , else even people receiving gratuity in 2015 16 will state that they have been treated unfairly with r...
  • July 8, 2018
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Rakesh Ranjan

INCOME SCHEDULE - SALARY...
Sir,
With the basics of filing ITR that I have learnt from your channel I have decided to file my mom's ITR this year.
But a few entries in the salary slip of the financial year 17-18 is making it very difficult for me.
One of the entries is of the Year 2016.
This can be unique case for us viewers t...
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Amlan Dutta
No, please don't mail salary slip etc ...I have already made a tutorial on how to file return for salaried guys showing salary breakup with form 16 and salary slips ...you may refer that ....

The basic idea is to reflect chargeable income from salary , arrive at taxable income and let the return comp...
  • July 5, 2018
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Hemant Kolte

Taxability of Gratuity...
Hey Amlan,
For the year 2017-2018 my raise letter contains salary bifurcation which include gratuity around 17 K but neither included in my salary slip nor in Form 16.
is gratuity is exempted? what should i do ? . I work for private company and not going to retire soon
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Amlan Dutta
Any gratuity amount received by an employee (Govt or Private employee) during his service is taxable. In your form 16 , the gross salary must already contain gratuity not showing it separately and since it is not exempted so it does not reflect in section 10 exempt allowances as well. You simply fi...
  • July 3, 2018
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DEEPAK

INCOME SCHEDULE - SALARY...
sir ,
1. Bonus is a part of basic salary or allowances
2. leave encasement is come under basic salary or allowances (i am getting 30days leave encasement every year )
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Amlan Dutta
You can claim bonus under profits in lieu of salary . Leave encashment is a part of salary Use your form 16 and subtract from gross the basic pay for 12 months .The figure that you get contains all non exempt allowances including earned leave encashment. Check my video on how to fill salary schedule...
  • June 13, 2018
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Gajendra Arvind

INCOME SCHEDULE - SALARY...
I am an Indian Resident working in a MNC. This organization has stocks listed in US but not in India. An RSU of this company got vested for the first time in FY 2017-18 and I understand that the equivalent amount awarded as RSU is reported in Form 16 as perquisites income. I am in the process of fil...
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Gajendra Arvind
Would someone be able to assist on this? I am stuck, awaiting clarification on the above. Meanwhile, I went through the following article and I guess it provides sufficient details on how to fill Schedule FA for RSUs and ESPPs but it doesn't address Point 3 above.
  • June 11, 2018
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Gajendra Arvind
https://www.bemoneyaware.com/blog/are-espp-esop-in-mnc-to-be-filed-in-itr-as-foreign-assets/
  • June 11, 2018
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