Hello sir. I received rs.30500 from my father as a CASH but I deposited in my bank account. FIRST ALTERNATIVE -- If I show in exempt incomes for reporting purposes by/s 56(2)X then any evidence required.( means I don't have evidence regarding these .) .. SECOND ALTERNATIVE--- is it ok to not to sh...
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Amlan Dutta
Not needed but better to execute a gift deed for evidence and better to show it in ITR ...there is no such thing called threshold limit etc ...any amount from relative is exempt ...if it was not deposited in bank , then it could have been avoided ...now that it has been accounted better to show it ...
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- August 9, 2019
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How to show Gift from relative in return(U/s 56(2)
Company Act
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General
Income tax
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E verification
E verify using AADHAR OTP
E verify using Netbanking
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Clarification over income head
Previous year
Residential status
Selection of Return
Return for Salary, Interest
Tax Computation
Who is required to file
Clubbing of income
Common Issues
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Documents to be attached
How to file return of earlier years
How to show investments not considered in form 16
Send acknowledgement after 120 days
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Not taken credit of paid taxes
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How to file return for deceased assesse
How to register as legal heir
Deductions
80 C Deduction- Life insurance premium, deferred annuity,.contributions to providend fund, etc
80 CCC- Payment in respect of Pension Fund etc
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80CCD(2) - Employer contribution towards NPS
Employee contribution towards NPS
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Taxation of Sukanya Samridhi scheme
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80 DDB - Senior citizen - Self or dependent
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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
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Tax implication for NRI while buying property
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Registration
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How to show Gift from relative in return(U/s 56(2)
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Border Area allowance U/s 10(14)(ii)
Child Education Allowance U/s 10(14)(ii)
Daily allowance U/s 10(14)
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Hostel Expenditure Allowance U/s 10(14)
HRA Allowance U/s 10 (13A)
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Taxability of Earned Leave Encashment
Transfer Allowance U/s 10(14)
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Washing allowance U/s 10(14)(i)
How to show employer NPS in return
Salary (ITR 1)
How to show Bonus in return
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Multiple form 16
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HOW TO MAKE TAX PAYMENT
How to pay advance tax
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Contract TDS u/s 194 C (1%)
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TDS ON NRI PURCHASE
TDS Return filing
Tax payment
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How to download tax returns
TAXATION OF AOP
TAXATION OF RESIDENTIAL WELFARE ASSOCIATION
TAXATION OF DIFFERENT INSTRUMENTS
Taxability of Family pension( U/s 57)
Taxability of Futures and Options
Taxability of Interest Income
Taxation of Fixed deposit
Taxability of Life insurance plans
Taxability of Endowment Plans
LIC Jeevan Anand Endowment plan
Taxability of ULIP
SBI Wealth Builder ULIP Plan
Taxability on surrendering of Life insurance
Surrendering of ULIP plans
Taxability of lottery winnings (U/s 115BB)
Taxability of pension
Taxability of PF
Taxability of PF - Withdrawal before 5 years
Taxability of PF - withdrawing after 5years
Taxation of Bitcoin /Cryptocurrencies
Taxation of Mutual Funds
Taxation of SIP
Taxation of NSC
Taxation of Post office interest
Taxation of stipend income
Taxation of Articleship stipend
Taxation of Research Fellowship
TRANSFER PRICING
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JAVA utility not getting saved
Salary in income schedule less than 90% of salary income in TDS schedule
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Request
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Sir, My mother given me Rs 12 lakhs from her FD through online mode transaction sometime ago.
my questions is
1. Do I need to pay tax for that money?
2. Do I need to take money either as LOAN or as GIFT ? If I want to earn money through further FDs ( without clubbing).
(What should I do to ma...Sir, My mother given me Rs 12 lakhs from her FD through online mode transaction sometime ago.
my questions is
1. Do I need to pay tax for that money?
2. Do I need to take money either as LOAN or as GIFT ? If I want to earn money through further FDs ( without clubbing).
(What should I do to make it use as FDs)
3. Do this money (12 lakhs) will be count in my overall income in financial year ?
my questions is
1. Do I need to pay tax for that money?
2. Do I need to take money either as LOAN or as GIFT ? If I want to earn money through further FDs ( without clubbing).
(What should I do to ma...Sir, My mother given me Rs 12 lakhs from her FD through online mode transaction sometime ago.
my questions is
1. Do I need to pay tax for that money?
2. Do I need to take money either as LOAN or as GIFT ? If I want to earn money through further FDs ( without clubbing).
(What should I do to make it use as FDs)
3. Do this money (12 lakhs) will be count in my overall income in financial year ?
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Admin Typed:
Amlan Dutta
The tax treatment in this case( to be considered as gift) is guided by Section 56(2) of income tax act 1961....Basically , any sum of money being received by relative is exempt from levy of tax ......If your mother gift's money to you, , then you are exempted from paying any tax on gift amount as ...The tax treatment in this case( to be considered as gift) is guided by Section 56(2) of income tax act 1961....Basically , any sum of money being received by relative is exempt from levy of tax ......If your mother gift's money to you, , then you are exempted from paying any tax on gift amount as you receive gift from 'relative' as per Income Tax Act,1961.
Here, since for daughter, mother falls under relative purview, any sum of money received from assessee by his mother is exempt in assesse's hands ....Just get a gift deed executed by any lawyer ...it will keep you protected in case of any assessment proceedings
Now to answer your questions, 1.) You need to pay no tax for that money 2.) Get a gift deed done ....Interest on that money shall be taxable in your hand and shall not get clubbed to your mother....clubbing provisions are only applicable in specific situations under Section 64 (1) (ii) and this doesn't fall in any of those cases....... Interest earned on FD will be treated as your income only and shall not be clubbed with your mother's income. 3.) No , it doesn't form a part of total income and is rather exempt income , so you need to show it in exempt income portion of the return ...say you put it in FD and earn interest say 1 lakh Rs , then this 1 lakh rs shall form a part of your total income and shall be offered under other sources portion of the tax return
( Just for knowledge , the scope of relative covers the following
i. Spouse of the individual
ii. Brother or sister of the individual - YOUR CASE
iii. Brother or sister of the spouse of the individual
iv. Brother or sister of either of the parents of the individual
v. Any lineal ascendant or descendant of the individual
vi. Any lineal ascendant or descendant of the spouse of the individual
vii. Spouse of the person referred to in clauses (ii) to (vi).)
(Next time select question category properly )
Here, since for daughter, mother falls under relative purview, any sum of money received from assessee by his mother is exempt in assesse's hands ....Just get a gift deed executed by any lawyer ...it will keep you protected in case of any assessment proceedings
Now to answer your questions, 1.) You need to pay no tax for that money 2.) Get a gift deed done ....Interest on that money shall be taxable in your hand and shall not get clubbed to your mother....clubbing provisions are only applicable in specific situations under Section 64 (1) (ii) and this doesn't fall in any of those cases....... Interest earned on FD will be treated as your income only and shall not be clubbed with your mother's income. 3.) No , it doesn't form a part of total income and is rather exempt income , so you need to show it in exempt income portion of the return ...say you put it in FD and earn interest say 1 lakh Rs , then this 1 lakh rs shall form a part of your total income and shall be offered under other sources portion of the tax return
( Just for knowledge , the scope of relative covers the following
i. Spouse of the individual
ii. Brother or sister of the individual - YOUR CASE
iii. Brother or sister of the spouse of the individual
iv. Brother or sister of either of the parents of the individual
v. Any lineal ascendant or descendant of the individual
vi. Any lineal ascendant or descendant of the spouse of the individual
vii. Spouse of the person referred to in clauses (ii) to (vi).)
(Next time select question category properly )
Poonam
sorry to disturb you again, Sir.... one more thing I want to ask......... my mother transfered an amount through ONLINE mode ...... so there are proof documents available in terms of bank statement ,....... is this will be sufficient documents .........or still i need to done gift deed......... a...sorry to disturb you again, Sir.... one more thing I want to ask......... my mother transfered an amount through ONLINE mode ...... so there are proof documents available in terms of bank statement ,....... is this will be sufficient documents .........or still i need to done gift deed......... and how should i mention this in ITR.
Amlan Dutta
Its better to get a gift deed done ...the deed itself specifies the mode of payment etc other things ...deed keeps you safe ....though even without a deed , there wont be any problem but sometimes the tax authorities insist for gift deed .....
Amlan Dutta
The tax treatment in this case( to be considered as gift) is guided by Section 56(2) of income tax act 1961....Basically , any sum of money being received by relative is exempt from levy of tax ......If your mother gift's money to you, , then you are exempted from paying any tax on gift amount as ...The tax treatment in this case( to be considered as gift) is guided by Section 56(2) of income tax act 1961....Basically , any sum of money being received by relative is exempt from levy of tax ......If your mother gift's money to you, , then you are exempted from paying any tax on gift amount as you receive gift from 'relative' as per Income Tax Act,1961.
Here, since for daughter, mother falls under relative purview, any sum of money received from assessee by his mother is exempt in assesse's hands ....Just get a gift deed executed by any lawyer ...it will keep you protected in case of any assessment proceedings
Now to answer your questions, 1.) You need to pay no tax for that money 2.) Get a gift deed done ....Interest on that money shall be taxable in your hand and shall not get clubbed to your mother....clubbing provisions are only applicable in specific situations under Section 64 (1) (ii) and this doesn't fall in any of those cases....... Interest earned on FD will be treated as your income only and shall not be clubbed with your mother's income. 3.) No , it doesn't form a part of total income and is rather exempt income , so you need to show it in exempt income portion of the return ...say you put it in FD and earn interest say 1 lakh Rs , then this 1 lakh rs shall form a part of your total income and shall be offered under other sources portion of the tax return
( Just for knowledge , the scope of relative covers the following
i. Spouse of the individual
ii. Brother or sister of the individual - YOUR CASE
iii. Brother or sister of the spouse of the individual
iv. Brother or sister of either of the parents of the individual
v. Any lineal ascendant or descendant of the individual
vi. Any lineal ascendant or descendant of the spouse of the individual
vii. Spouse of the person referred to in clauses (ii) to (vi).)
(Next time select question category properly )
Here, since for daughter, mother falls under relative purview, any sum of money received from assessee by his mother is exempt in assesse's hands ....Just get a gift deed executed by any lawyer ...it will keep you protected in case of any assessment proceedings
Now to answer your questions, 1.) You need to pay no tax for that money 2.) Get a gift deed done ....Interest on that money shall be taxable in your hand and shall not get clubbed to your mother....clubbing provisions are only applicable in specific situations under Section 64 (1) (ii) and this doesn't fall in any of those cases....... Interest earned on FD will be treated as your income only and shall not be clubbed with your mother's income. 3.) No , it doesn't form a part of total income and is rather exempt income , so you need to show it in exempt income portion of the return ...say you put it in FD and earn interest say 1 lakh Rs , then this 1 lakh rs shall form a part of your total income and shall be offered under other sources portion of the tax return
( Just for knowledge , the scope of relative covers the following
i. Spouse of the individual
ii. Brother or sister of the individual - YOUR CASE
iii. Brother or sister of the spouse of the individual
iv. Brother or sister of either of the parents of the individual
v. Any lineal ascendant or descendant of the individual
vi. Any lineal ascendant or descendant of the spouse of the individual
vii. Spouse of the person referred to in clauses (ii) to (vi).)
(Next time select question category properly )
- November 24, 2018
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Income tax
ASSESSMENT PROCESS
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BASICS OF INCOME TAX
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Tax Computation
Who is required to file
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Common Issues
Difference in salary figures in form 16 and 26 as
Documents to be attached
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Send acknowledgement after 120 days
Common Mistakes
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Deductions
80 C Deduction- Life insurance premium, deferred annuity,.contributions to providend fund, etc
80 CCC- Payment in respect of Pension Fund etc
Deduction benefit of NPS
80CCD(2) - Employer contribution towards NPS
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Taxation of Sukanya Samridhi scheme
80CCD(1B) - Employee contribution NPS.
80CCG - Investment made under an equity savings scheme
80D - Health Insurance premium
80DD - Expenditure towards medical treatment of dependant
80DD - Dependent person with disability
80DD - Dependent person with severe disability
80DDB - Medical Treatment of specified disease
80 DDB - Senior citizen - Self or dependent
80 DDB - Super Senior citizen - Self or dependent
80DDB - Self or dependent
80E - Interest on loan taken for higher education
80EE - Interest on loan taken for residential House property
80EE Eligibility
80G - (Eligible Amount)- Donations to certain funds, charitable institutions, etc
80GG - Rent Paid
80GG Eligibility
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
80TTB - Income on deposits for senior citizens
80U - In case of a person with Disability
80U - Self with disability
80U - Self with severe disability
Defective Returns
How to respond to Defective Notice
Due date for filing returns
e Grievance ( e Nivaran)
Delay in processing of returns
Disallowance of Tax credit in 26 AS.
e Proceedings
Exempt Income
Exempt Earned leave at Retirement
Exempt gift income u/s 56(2)(iv)
Exempt Gratuity Income u/s 10
Exempt HRA U/s 10(13A)
Exempt LIC moneyback u/s 10(10 D)
Exempt LTCG u/s 10(38)
Exempt PF interest
Exempt Recognised PF interest u/s 10 (12)
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Home loan interest benefit under 80 EE
How to compute income from house property
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Income from commercial shop
Income from let out property
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How to claim loan benefit during construction(Section 80 EE)
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Late Filing after belated period also over
Notices
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Difference in salary income in return and 26 as
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Revision after agreeing to proposed adjustment
Disagree to demand for communication of proposed income
Compliance notice for Non Filing of Returns
Income above threshold level
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Demand under section 143(1)a
Intimation Notice under 143(1)a
Reassessment Notice under section 148
NRI Taxation
DTAA
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DTAA India Australia
DTAA (Credit by Deduction)
DTAA INDIA USA
Tax implication for NRI while buying property
PENALTY
Penalty under section 234 F
Penalty under section 271 F
Rebate and Relief
Arrear Relief under section 89
Form 10 E not submitted online
How to correct form 10 E
How to fill form 10 E
Rebate under section 87 A
Registration
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Employer category
How to convert return to xml for uploading
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Exempt HRA when not shown in Form 16
How to fill nature of income in ITR1 (exempt)
How to show Gift from relative in return(U/s 56(2)
TAXABILITY OF SALARY ALLOWANCES
Border Area allowance U/s 10(14)(ii)
Child Education Allowance U/s 10(14)(ii)
Daily allowance U/s 10(14)
Helper/Assistance Allowance U/s 10(14)
Hostel Expenditure Allowance U/s 10(14)
HRA Allowance U/s 10 (13A)
Research Allowance U/s 10(14)
Taxability of Earned Leave Encashment
Transfer Allowance U/s 10(14)
Transport allowance u/s 10(14)(ii)
Uniform allowance U/s 10(14)(i)
Washing allowance U/s 10(14)(i)
How to show employer NPS in return
Salary (ITR 1)
How to show Bonus in return
How to show salary arrears in return
How to show salary income from Multiple companies
Multiple form 16
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How to take Interest TDS credit in ITR 2
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Salary mismatch in form 16 and 26 as
TDS mismatch in Form 16 and 26 AS
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Return processed but revision needed
Revised Return U/s 139(5)
Time period for filing revised returns
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TAX CREDIT
Schedule IT (Taking credit of taxes paid)
ADVANCE TAX
Cases when advance tax exempt
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How to pay advance tax
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How to fill in challan details for self assessment tax
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TDS
Property TDS( U/s 194 IA)
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TDS Credit
26 AS TDS not prefilling ITR
Deducted TDS not appearing in form 26 as
HOW TO MAKE TAX PAYMENT
How to pay advance tax
How to pay demand tax
How to pay self assessment tax
TDS on income other than salary
Consultancy TDS U/s 194 J (10%)
Contract TDS u/s 194 C (1%)
Interest TDS (U/s 194 A) (10%)
TDS ON NRI PURCHASE
TDS Return filing
Tax payment
Tax site related issues
How to download returns after filing
How to download tax returns
TAXATION OF AOP
TAXATION OF RESIDENTIAL WELFARE ASSOCIATION
TAXATION OF DIFFERENT INSTRUMENTS
Taxability of Family pension( U/s 57)
Taxability of Futures and Options
Taxability of Interest Income
Taxation of Fixed deposit
Taxability of Life insurance plans
Taxability of Endowment Plans
LIC Jeevan Anand Endowment plan
Taxability of ULIP
SBI Wealth Builder ULIP Plan
Taxability on surrendering of Life insurance
Surrendering of ULIP plans
Taxability of lottery winnings (U/s 115BB)
Taxability of pension
Taxability of PF
Taxability of PF - Withdrawal before 5 years
Taxability of PF - withdrawing after 5years
Taxation of Bitcoin /Cryptocurrencies
Taxation of Mutual Funds
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Taxation of Post office interest
Taxation of stipend income
Taxation of Articleship stipend
Taxation of Research Fellowship
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Hi Sir,
I received an amount of Rs 1,32,000 from my brother who is an NRI , under which category head of ITR1 should it be shown by me or can i take exemption under Gift.
I received an amount of Rs 1,32,000 from my brother who is an NRI , under which category head of ITR1 should it be shown by me or can i take exemption under Gift.
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Admin Typed:
Amlan Dutta
The tax treatment in this case is guided by Section 56(2) of income tax act 1961....Basically , any sum of money being received by relative is exempt from levy of tax ......
Here, since brother falls under relative purview, any sum of money received from assessee by his brother is exempt in assess...The tax treatment in this case is guided by Section 56(2) of income tax act 1961....Basically , any sum of money being received by relative is exempt from levy of tax ......
Here, since brother falls under relative purview, any sum of money received from assessee by his brother is exempt in assesse's hands ....
Whether he is a NRI or not has no relevance. Just for knowledge , the scope of relative covers the following
i. Spouse of the individual
ii. Brother or sister of the individual - YOUR CASE
iii. Brother or sister of the spouse of the individual
iv. Brother or sister of either of the parents of the individual
v. Any lineal ascendant or descendant of the individual
vi. Any lineal ascendant or descendant of the spouse of the individual
vii. Spouse of the person referred to in clauses (ii) to (vi).
viii. In case of a Hindu undivided family, any member thereof.
Here, since brother falls under relative purview, any sum of money received from assessee by his brother is exempt in assess...The tax treatment in this case is guided by Section 56(2) of income tax act 1961....Basically , any sum of money being received by relative is exempt from levy of tax ......
Here, since brother falls under relative purview, any sum of money received from assessee by his brother is exempt in assesse's hands ....
Whether he is a NRI or not has no relevance. Just for knowledge , the scope of relative covers the following
i. Spouse of the individual
ii. Brother or sister of the individual - YOUR CASE
iii. Brother or sister of the spouse of the individual
iv. Brother or sister of either of the parents of the individual
v. Any lineal ascendant or descendant of the individual
vi. Any lineal ascendant or descendant of the spouse of the individual
vii. Spouse of the person referred to in clauses (ii) to (vi).
viii. In case of a Hindu undivided family, any member thereof.
Amlan Dutta
The tax treatment in this case is guided by Section 56(2) of income tax act 1961....Basically , any sum of money being received by relative is exempt from levy of tax ......
Here, since brother falls under relative purview, any sum of money received from assessee by his brother is exempt in assess...The tax treatment in this case is guided by Section 56(2) of income tax act 1961....Basically , any sum of money being received by relative is exempt from levy of tax ......
Here, since brother falls under relative purview, any sum of money received from assessee by his brother is exempt in assesse's hands ....
Whether he is a NRI or not has no relevance. Just for knowledge , the scope of relative covers the following
i. Spouse of the individual
ii. Brother or sister of the individual - YOUR CASE
iii. Brother or sister of the spouse of the individual
iv. Brother or sister of either of the parents of the individual
v. Any lineal ascendant or descendant of the individual
vi. Any lineal ascendant or descendant of the spouse of the individual
vii. Spouse of the person referred to in clauses (ii) to (vi).
viii. In case of a Hindu undivided family, any member thereof.
Here, since brother falls under relative purview, any sum of money received from assessee by his brother is exempt in assess...The tax treatment in this case is guided by Section 56(2) of income tax act 1961....Basically , any sum of money being received by relative is exempt from levy of tax ......
Here, since brother falls under relative purview, any sum of money received from assessee by his brother is exempt in assesse's hands ....
Whether he is a NRI or not has no relevance. Just for knowledge , the scope of relative covers the following
i. Spouse of the individual
ii. Brother or sister of the individual - YOUR CASE
iii. Brother or sister of the spouse of the individual
iv. Brother or sister of either of the parents of the individual
v. Any lineal ascendant or descendant of the individual
vi. Any lineal ascendant or descendant of the spouse of the individual
vii. Spouse of the person referred to in clauses (ii) to (vi).
viii. In case of a Hindu undivided family, any member thereof.
- August 31, 2018
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Company Act
Feedback
General
Income tax
ASSESSMENT PROCESS
Processing of returns
E verification
E verify using AADHAR OTP
E verify using Netbanking
How to change AO Jurisdiction
Time period for processing
BASICS OF INCOME TAX
Assessment year
Clarification over income head
Previous year
Residential status
Selection of Return
Return for Salary, Interest
Tax Computation
Who is required to file
Clubbing of income
Common Issues
Difference in salary figures in form 16 and 26 as
Documents to be attached
How to file return of earlier years
How to show investments not considered in form 16
Send acknowledgement after 120 days
Common Mistakes
Not taken credit of paid taxes
Deceased Filing
How to file return for deceased assesse
How to register as legal heir
Deductions
80 C Deduction- Life insurance premium, deferred annuity,.contributions to providend fund, etc
80 CCC- Payment in respect of Pension Fund etc
Deduction benefit of NPS
80CCD(2) - Employer contribution towards NPS
Employee contribution towards NPS
80CCD(1) - Employee contribution towards NPS
Taxation of Sukanya Samridhi scheme
80CCD(1B) - Employee contribution NPS.
80CCG - Investment made under an equity savings scheme
80D - Health Insurance premium
80DD - Expenditure towards medical treatment of dependant
80DD - Dependent person with disability
80DD - Dependent person with severe disability
80DDB - Medical Treatment of specified disease
80 DDB - Senior citizen - Self or dependent
80 DDB - Super Senior citizen - Self or dependent
80DDB - Self or dependent
80E - Interest on loan taken for higher education
80EE - Interest on loan taken for residential House property
80EE Eligibility
80G - (Eligible Amount)- Donations to certain funds, charitable institutions, etc
80GG - Rent Paid
80GG Eligibility
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
80TTB - Income on deposits for senior citizens
80U - In case of a person with Disability
80U - Self with disability
80U - Self with severe disability
Defective Returns
How to respond to Defective Notice
Due date for filing returns
e Grievance ( e Nivaran)
Delay in processing of returns
Disallowance of Tax credit in 26 AS.
e Proceedings
Exempt Income
Exempt Earned leave at Retirement
Exempt gift income u/s 56(2)(iv)
Exempt Gratuity Income u/s 10
Exempt HRA U/s 10(13A)
Exempt LIC moneyback u/s 10(10 D)
Exempt LTCG u/s 10(38)
Exempt PF interest
Exempt Recognised PF interest u/s 10 (12)
Exempt Statutory PF interest u/s 10 (11)
Exempt Transport allowance u/s10(14)
Exempt ULIP maturity U/s 10(10 D)
FILING AY 2018 19
Filing Issues
Filing return of earlier previous years
Section 119(2)(b) Delayed filing
Section 92 CD Advance Pricing agreement
HOW TO FILE RETURNS
Belated return
Time period for belated return
Due return U/s 139(1)
Nil Return
Refund Return
Refund for Bank deducted TDS
Refund for LIC Commission
Refund for TDS on professionals
How to fill ITR
How to fill Salary breakup in ITR 1
How to fill salary income in TDS schedule
How to show HRA in ITR 1
INCOME HEAD - BUSINESS PROFESSION
Disallowances for Business Profession
Permissible expenses for Business
Presumptive taxation
44 AD ( Business income)
Preparing Balance sheet
44ADA ( Profession)
How to fill financial particulars of Business/Profession
Profession
Filing return for LIC agent
INCOME HEAD - OTHER SOURCES
Taxability for winnings on lottery
INCOME SCHEDULE - CAPITAL GAINS
Capital Gains exemption
Compulsory land acquisition
RFCTLARR
LTCG Exemption u/s 54
LTCG Exemption u/s 54 EC
Mutual Funds
Debt Mutual Funds
Equity Mutual Funds
Sale of House property
Stocks (delivery)
LTCG on stocks
STCG on Stocks
Taxability of ESOPS
Taxability of Foreign ESOPS
INCOME SCHEDULE - HOUSE PROPERTY
Deduction benefit for House property
Deduction benefit for let out property
Deduction benefit for self occupied house property
Difference in deduction benefit of 24(b) and 80 EE
Home loan interest benefit under 80 EE
How to compute income from house property
Deemed let out property
Income from commercial shop
Income from let out property
Income from Self occupied property
Tax benefit for prepossession loan repayment
How to claim loan benefit during construction(Section 80 EE)
INCOME SCHEDULE - SALARY
Deduction U/s 16
Entertainment Allowance
Standard deduction of 40000 u/s 16(ii)
Tax on Employment
Taxability of Gratuity
Computation of Gratuity
Gratuity during service
Gratuity on resignation
Gratuity on retirement
Late Filing after belated period also over
Notices
Communication of proposed adjustment u/s 143(1)(a)(vi)
Difference in salary income in return and 26 as
Inconsistency between other source income in filed return and 26 as
Agree to demand for communication for proposed adjustment
Revision after agreeing to proposed adjustment
Disagree to demand for communication of proposed income
Compliance notice for Non Filing of Returns
Income above threshold level
Income below threshold level
Demand under section 143(1)a
Intimation Notice under 143(1)a
Reassessment Notice under section 148
NRI Taxation
DTAA
DTAA ( Tax credit method)
DTAA India Australia
DTAA (Credit by Deduction)
DTAA INDIA USA
Tax implication for NRI while buying property
PENALTY
Penalty under section 234 F
Penalty under section 271 F
Rebate and Relief
Arrear Relief under section 89
Form 10 E not submitted online
How to correct form 10 E
How to fill form 10 E
Rebate under section 87 A
Registration
RETURN FILING
Employer category
How to convert return to xml for uploading
ITR 1
Exempt HRA when not shown in Form 16
How to fill nature of income in ITR1 (exempt)
How to show Gift from relative in return(U/s 56(2)
TAXABILITY OF SALARY ALLOWANCES
Border Area allowance U/s 10(14)(ii)
Child Education Allowance U/s 10(14)(ii)
Daily allowance U/s 10(14)
Helper/Assistance Allowance U/s 10(14)
Hostel Expenditure Allowance U/s 10(14)
HRA Allowance U/s 10 (13A)
Research Allowance U/s 10(14)
Taxability of Earned Leave Encashment
Transfer Allowance U/s 10(14)
Transport allowance u/s 10(14)(ii)
Uniform allowance U/s 10(14)(i)
Washing allowance U/s 10(14)(i)
How to show employer NPS in return
Salary (ITR 1)
How to show Bonus in return
How to show salary arrears in return
How to show salary income from Multiple companies
Multiple form 16
ITR 2
How to take Interest TDS credit in ITR 2
ITR 3
ITR 4
ITR 5 (Firms)
ITR 6 (Companies)
Salary mismatch in form 16 and 26 as
TDS mismatch in Form 16 and 26 AS
Return signing capacity
REVISION AND RECTIFICATION
Rectification
Rectification - Tax credit mismatch
Rectification - Taxpayer wanting to correct data
Rectification u/s 154
Return processed but revision needed
Revised Return U/s 139(5)
Time period for filing revised returns
Tax Audit
TAX COMPUTATION
TAX CREDIT
Schedule IT (Taking credit of taxes paid)
ADVANCE TAX
Cases when advance tax exempt
Computation of advance tax
How to fill in challan details for advance tax
How to pay advance tax
Penalties for non payment of advance tax
Self assessment tax
How to fill in challan details for self assessment tax
Status of Booking in 26as
TCS
TDS
Property TDS( U/s 194 IA)
Salary TDS (u/s 192)
TDS Credit
26 AS TDS not prefilling ITR
Deducted TDS not appearing in form 26 as
HOW TO MAKE TAX PAYMENT
How to pay advance tax
How to pay demand tax
How to pay self assessment tax
TDS on income other than salary
Consultancy TDS U/s 194 J (10%)
Contract TDS u/s 194 C (1%)
Interest TDS (U/s 194 A) (10%)
TDS ON NRI PURCHASE
TDS Return filing
Tax payment
Tax site related issues
How to download returns after filing
How to download tax returns
TAXATION OF AOP
TAXATION OF RESIDENTIAL WELFARE ASSOCIATION
TAXATION OF DIFFERENT INSTRUMENTS
Taxability of Family pension( U/s 57)
Taxability of Futures and Options
Taxability of Interest Income
Taxation of Fixed deposit
Taxability of Life insurance plans
Taxability of Endowment Plans
LIC Jeevan Anand Endowment plan
Taxability of ULIP
SBI Wealth Builder ULIP Plan
Taxability on surrendering of Life insurance
Surrendering of ULIP plans
Taxability of lottery winnings (U/s 115BB)
Taxability of pension
Taxability of PF
Taxability of PF - Withdrawal before 5 years
Taxability of PF - withdrawing after 5years
Taxation of Bitcoin /Cryptocurrencies
Taxation of Mutual Funds
Taxation of SIP
Taxation of NSC
Taxation of Post office interest
Taxation of stipend income
Taxation of Articleship stipend
Taxation of Research Fellowship
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
Indirect taxes
GST
Request
SITE TESTING
TESTIMONIALS
Gifted money to my mother. Will she show it in exempt income? And where should i mention it in my itr?
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BIBEK
My mother will show it in exempt income. True.
But do I also have to show it in my itr that i gifted a sum to my mother? If yes, where?
But do I also have to show it in my itr that i gifted a sum to my mother? If yes, where?
- July 15, 2018
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BIBEK
Thank You for clearing my doubt.
- July 16, 2018
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