Categories
Normal Grid Pagination Scroll
Pawan Kumar

Category : Contract..,
Solved
April 17, 2019 9:33 am
Dear Amlan Sir,
i am a salaried govt employee. i got a amount i.e. Rs.129 & TDS Deducted Rs. 1.30 u/s 194 C.
May I file ITR-1
  • Hide Placeholder
  • Hide Discussion
Amlan Dutta
Yes, for such a insignificant amount, it is better to offer such income under other sources in ITR 1(though it pertains to contract payment) ..(assuming that you have no other income source else ITR will vary accordingly to reflect scope of taxable income )...You can claim TDS credit in the TDS sch...
View More
  • April 17, 2019
  • Like
  • Select as Answer
Pawan Kumar

Category : TDS on i..,
Solved
April 11, 2019 2:35 pm
Dear Sir,
I take a LIC single Premium Policy with Rs 200000 on Sep 2015 and On Pre Maturity at May 2018 I Get Rs. 241368 and TDS @1% of Rs. 2414
How I Show this on ITR-1
  • Hide Placeholder
  • Hide Discussion
Amlan Dutta
For life insurance policy taken after 1st April 2012, section 10 (10 D) stipulates that in order for the proceeds to be tax free the premium must be less than 10 % of sum assured .
In this case since premium exceeds 10 % of sum assured , so maturity proceeds become complet...
View More
  • April 11, 2019
  • Like
  • Select as Answer
sagar dipak parab

Category : TDS on i..,
Solved
March 19, 2019 8:42 pm
I having Flexi RD A/c opened on 05-02-2014 through onlinesbi site for 5 year Maturity date is 05-02-2019.  I have total deposited 1,71,000/- in 5 year. On 04th Feb system has directly credited wrong  Interest amount 3,66,231 & same amount debited as a Debit branch penalty. In addition 34,044/- T...
View More
  • Hide Placeholder
  • Hide Discussion
Amlan Dutta
You will show only actual interest income in return ... regards the TDS already deducted , the deductor alone can revise the TDS return and correct it! For figures reflecting wrongly in the tax credit statement which you wont be able to show in return, you may get a mismatch notice ! you shall be...
View More
  • March 20, 2019
  • Like
  • Select as Answer
Ujjwal Kundu

Category : 80TTA - .., TDS on i.., TDS..,
Solved
March 9, 2019 4:20 pm
Dear sir
My FD interest is 8000 and my SB account interest is 7000;
Does bank deduct TDS as total interest income is 8000 + 7000 = 15000 ?
  • Hide Placeholder
  • Hide Discussion
Amlan Dutta
Bank does not deduct TDS on saving interest ...even in FD , bank will not deduct TDS if interest income is below 10,000 rs ...however both interest are taxable and have to be shown in income from other sources ..
i.e under income from other sources you will show 8000+7000 =15000 Rs as interest inco...
View More
  • March 9, 2019
  • Like
  • Select as Answer