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hanif

INCOME TAX...
Dear Amlan, The ITR Form released for AY 2018-19 also requires the employees to give a break-up of their salary. ITR-1 utility for AY 2018-19 has also been amended. It now requires the employees to report their taxable salary, allowances, perquisites, etc. separately and then they have to give the d...
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Amlan Dutta
I have already replied , i cannot explain in a more simpler fashion ...in simple words , your form 16 contains all details and my earlier answer explains in detail what to put where

Note - i will edit and give detailed answer later when i get time.
  • Yesterday, 1:22 pm
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hanif
many thanks, will really appreciate if u answer in detail.......
  • Yesterday, 2:39 pm
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Varsha Rani

Deductions...
Sir in form 16 deduction under 80TTA is not showing as i had not declared in income declaration form of employer.Can I put it in ITR filing. Also Full amount invested in PPF is put for deduction under 80Cor only amount invested during that FY or only interest given in that FY?
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Amlan Dutta
This year , they have started a system where they will not agree to the deduction benefit if it doesn't appear in form 16 ...however you surely can claim and later submit rectification to intimation again requesting for deduction benefit under 80 TTA ....i believe that shall open uo e proceedings wh...
  • Yesterday, 1:24 pm
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hanif

INCOME TAX...
Dear Amlan, i have a query.i have been paying advance tax regularly ie.june, sept,oct and march. my office do cut TDS also.my question is can i pay my full tax at the time of efiling.is it compulsory to pay advance tax. will i get any notice for not paying advance tax.
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Amlan Dutta
Assuming that you are a non senior resident ( less than 60 years) , If you have more tax liability due than already deducted TDS, then you are required to pay advance tax....you can , if you have not paid advance tax , at the time of filing pay self assessment tax ( but int that case you shall be ...
  • Yesterday, 7:41 am
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PARAS SOMARWAL

Arrear Relief under section 89...
Dear amlan.. I recieved salary of last 3 year..now i want relief under section 89.. It same problem of 30000 teachers in Rajsthan state for AY 2018-19.. So i request u make video tutorial with my docoment.. If U like than I send mail to u
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Amlan Dutta
Check this video solution for claiming relief for multiple year salary arrears ( Don't forget to submit form 10 E online)
Link- https://www.youtube.com/watch?v=-RROImaMvAQ


I won't commit that i will again make a video solution for your case
However , to help yourself , you can send form 10 E along wi...
  • Yesterday, 6:53 am
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Debashis Chakraborty

Section 119(2)(b) Delayed filing...
Sir, is it possible to file ITR for AY 2017-2018 by any means?
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Amlan Dutta
You can seek condonation from principal commissioner of income tax under section 119 (2)(b)...if he agrees then you can submit time barred return using this section alongwith 139 and your assessing officer shall process....
  • Yesterday, 6:49 am
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Varsha Rani

Sir, in my 26AS form, both income from salary & FD interest are summarized in same column due to same bank. Can I take only 194 A column income to show in income from other sources in ITR?
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Amlan Dutta
Attach the 26 AS screenshot please
Check entries pertaining to TDS section 192
Add all such entries for salary income

Check entries of credit on which TDS done under section 194 A
All such entries for interest income ( income under other sources)

Same approach for TDS credit as well

claim tax credit...
Attach the 26 AS screenshot please <br />Check entries pertaining to TDS section 192 <br />Add all such entries for salary income <br /><br />Check entries of credit on which TDS done under section 194 A <br />All such entries for interest income ( income under other sources)<br /><br /> Same approach for TDS credit as well <br /><br />claim tax credit on account of TDS separately salary TDS in schedule 1( ( TDS for salary under section 192) and interest TDS in schedule 2 (TDS done under section 194 A)........
  • April 19, 2018
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hanif

Return signing capacity...
Dear Amlan, many thanks for your prompt reply.it really helped me.

i have a query here, in ITR 1 form at the bottom on the last page it says "I further declare that i am making this return in my capacity as __________ and i am also competent to make this return and verify it. i myself preparing my....
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Amlan Dutta
Yes , you need to put individual ...basically person can be individual/ HUF /Company etc etc ...What it means is that you are filling return as a individual ...

Also, you must e-verify the return acknowledgement by net banking or Aadhar OTP.........until you e verify the acknowledgement , the submi...
Yes , you need to put individual ...basically person can be individual/ HUF /Company etc etc ...What it means is that you are filling return as a individual ...<br /><br />Also, you must  e-verify the return  acknowledgement by net banking or Aadhar OTP.........until you e verify the acknowledgement , the submitted return won't be processed by the assessing officer.<br /><br />Video Link for e verification  -   https://www.youtube.com/watch?v=ussW3o8uBHM
  • April 19, 2018
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TUSHAR

Late Filing after belated period also over...
X' is Gov. Employee. can he return fill today AY 2017-18, because file under 119 (2)(b) along with section 139 is shown. what he do?
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Amlan Dutta
No it does not work like that, he can prepare a application for condonation in delay of filing of returns and back up with reasons of genuine hardship for not being able to do so . This application is to be submitted to the Principal commissioner of Income Tax. In case he agrees to condone delay ,...
No it does not work like that, he can prepare a application for condonation in delay of  filing of returns and back up with reasons of genuine hardship for not being able to do so . This application is to be submitted to the Principal commissioner of Income Tax. In case he agrees to condone delay  , only at that stage , the assesse can  use the section 139 read with section 119(2)(b) to prepare return . Only if the condonation request is accepted , then the jurisdictional assessing officer will agree to process the time barred return else no.
  • April 19, 2018
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SRINIVASA NAIDU

hi sir, can you tell me about TDS applicable on buying asset(Immovable property) from NRI?
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Amlan Dutta
TDS on NRI purchases is to be deducted irrespective of the transaction value of the property( unolike domestic transfers where only TDS has to be deducted if the sale value exceeds 50 lakhs ) ......Section 195 clearly stipulates that the buyer is to deduct 20 % TDS on capital gains after obtaining a...
  • April 18, 2018
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hanif

ITR 1...
dear amlan,
how r u? there is a confusion in filling a new column ie.allowance not exempt. i get a salary slip where in there is a break up of BASIC + CCA +,REFRESHMENT, + HRA, +CONVEYANCE = gross salary and minus PT+ VPF + IT = net salary. do i have to add cca/refreshment/hra/conveyance in the allo...
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Amlan Dutta
i can't go into detail of these , but the salary schedule in ITR 1 is nothing new and we have already seen the same salary schedule earlier in ITR 2 and other higher tax forms of last years where salary schedule was kept separately.....( people are used to using the ITR 1 for filing and so the pres...
i can't go into detail of these , but the salary schedule in ITR 1 is nothing new and we have already seen the same salary schedule earlier  in ITR 2 and other higher tax forms of last years where salary schedule was kept separately.....( people are used to using the ITR 1 for filing and so the present schedule  may have looked a bit different comparing earlier years returns)<br /><br /><br />you need to do this with your form 16 and not your salary slips ...once you get your form 16 ( check part b of it ), try and see the income chargeable under head salary(Point 6 )....this is what gets offered for tax after giving benefit of all exemptions etc ...<br /><br /><br />Say, gross salary( say 100 Rs) ,  <br />(ii)Exempt allowances  say 20 Rs ->(Exempt HRA(10) , exempt conveyance(10 Rs)).....................Not taxable<br />(iii)Non exempt allowances  say 10 Rs ->( Taxable HRA (10 Rs) )...................... ................Taxable<br />(iv)Perks, perquisite say 10 Rs ->  Profit in lieu of salary (bonus etc  0 rs  )   .................Taxable<br /><br />(v)Deductions say 10 Rs ->  ( Tax  on employment (10 Rs) , Entertainment (0 Rs))<br /><br />Then, salary under field 1 (salary excluding everything )= 100- (20+ 10+10)= 60<br /> Exempt allowances is = 20 rs,  Non Exempt allowances = 10 Rs <br /> Perks/perquisites = 10 rs  ..<br /><br />Deductions (10 Rs)<br />entertainment allowance =  0 Rs , Tax on employment = 10 rs ,<br /><br /> So, income chargeable under salary head shall be <br />= 60+10(non exempt allowances)+ 10(perks , if any)  -( deductions)<br />= 80- deductions <br />= 80 - 10 <br />= 70 Rs.<br />This shall be point 6 of your form 16 ( Not that bonus is totally taxable , other allowances may be partially exempt ( which is made clear in form 16 ) <br /><br />See this video - https://www.youtube.com/watch?v=r1syPCJ11KY<br />Read Description as well in the video (shows filling up of salary schedule in a similar live case )
  • April 18, 2018
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SWARNA CHANDRIKA

Hi, I've 4 FDs in SBI, which my father used to handle, recently he got very sick,so asked me to submit 15G form online.when I logged into the A/C I found that the bank has deducted 20% TDS from all the fixed deposits(despite giving Form 15G and PAN Card number) and also my found that bank has not up...
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Amlan Dutta
There is and really depends on how well the banks co-operate ...here, you will have to request bank to revise the TDS return they submitted. Anyone who deducts TDS has to submit a TDS Return of all the TDS deducted by them and that is how this information reaches your Form 26AS. At present since th...
  • April 17, 2018
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Chaitanya Kumar

Double Tax Avoidance Agreement...
I'm resident of India and in US now for temp work, as part of global tax i'm being asked to pay tax for medical insurance paid in US and which is non-taxable in US and also in India. Do i need to pay/calculate tax for medical insurance amount? pls suggest
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Amlan Dutta
W.r.t indian taxation system, no .
  • April 16, 2018
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