1] I have submitted ITR form but I have to pay tax. Where can I pay post submission of ITR form? I checked https://www.incometaxindia.gov.in/Pages/tax-services/pay-tax-online.aspx with CHALLAN NO./ITNS 280 but that does not allow me to consider payment for FY2018-19. is this correct url for individ...
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
Category : Income t.., How to f.., Due date..,
View MoreIncome tax How to fill ITR Due date for filing returns Tax payment Residential status Tax Computation Selection of Return Deduction U/s 16 INCOME HEAD - OTHER SOURCES 80TTA - Income from interest on saving banks Accounts TAX COMPUTATION NRI Taxation ITR 2
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
Hi Amlan, first let me thank you for your valuable feed back, thanks. I have few more queries related to ITR filing, please find below;
1.I assume ITR filing date has been extended to August 31st, is it for ITR-2 filing
2.Which ITR form to use for a student studing in USA, left on August 9th 2018 - to...Hi Amlan, first let me thank you for your valuable feed back, thanks. I have few more queries related to ITR filing, please find below;
1.I assume ITR filing date has been extended to August 31st, is it for ITR-2 filing
2.Which ITR form to use for a student studing in USA, left on August 9th 2018 - total 131 days in india
3.Residential status will be NRI
4.In ITR-2 for NRI it is asking for TIN, so do we need to mention TIN of USA ITR filing (filed nil USA return for 2018)
5.what to mention for - total period of stay in india during previous years
6.total period of stayin india during the 4 preceding years (in days) please suggest from which preceding years (student was out of india in 2017 for 75 days and in 2016 for 21 days, so de we need to calculate by deducting it)
7.Income in india for 2018-19 was Rs.4,80,000 (salary) but do we need to mention professional tax deductions of Rs.2400/-
8.Income from other sources Rs.10282 (savings bank interest) (fyi the person is out of india for more then 182 days, but till yet haven't changed SB account to NRO- is it okay Coz under NRO account SB interest is taxed at 30-33%, so how do I calculate it, please suggest)
9.Rs.941 interest income from NCD (do I need to calculate tax on it, how, please suggest)
10.Investment in PPF 1,50,000
11.deductions under 80TTA Rs.10,000/ possible for NRI
12.Do I need show exempt income like PPF interest and gift
13.do I need to show movable assests like investments in mutual funds, if so under which head
14. As the total income is less Rs.3.50k but still under tax computation it is calculating tax plus Rs.1000 as late filing penalty, please suggest
Please suggest on above queries, thanks once again
Best
Samir Mehta
1.I assume ITR filing date has been extended to August 31st, is it for ITR-2 filing
2.Which ITR form to use for a student studing in USA, left on August 9th 2018 - to...Hi Amlan, first let me thank you for your valuable feed back, thanks. I have few more queries related to ITR filing, please find below;
1.I assume ITR filing date has been extended to August 31st, is it for ITR-2 filing
2.Which ITR form to use for a student studing in USA, left on August 9th 2018 - total 131 days in india
3.Residential status will be NRI
4.In ITR-2 for NRI it is asking for TIN, so do we need to mention TIN of USA ITR filing (filed nil USA return for 2018)
5.what to mention for - total period of stay in india during previous years
6.total period of stayin india during the 4 preceding years (in days) please suggest from which preceding years (student was out of india in 2017 for 75 days and in 2016 for 21 days, so de we need to calculate by deducting it)
7.Income in india for 2018-19 was Rs.4,80,000 (salary) but do we need to mention professional tax deductions of Rs.2400/-
8.Income from other sources Rs.10282 (savings bank interest) (fyi the person is out of india for more then 182 days, but till yet haven't changed SB account to NRO- is it okay Coz under NRO account SB interest is taxed at 30-33%, so how do I calculate it, please suggest)
9.Rs.941 interest income from NCD (do I need to calculate tax on it, how, please suggest)
10.Investment in PPF 1,50,000
11.deductions under 80TTA Rs.10,000/ possible for NRI
12.Do I need show exempt income like PPF interest and gift
13.do I need to show movable assests like investments in mutual funds, if so under which head
14. As the total income is less Rs.3.50k but still under tax computation it is calculating tax plus Rs.1000 as late filing penalty, please suggest
Please suggest on above queries, thanks once again
Best
Samir Mehta
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Amlan Dutta
Please find below pointed answers to your queries,
1. I assume ITR filing date has been extended to August 31st, is it for ITR-2 filing
Due date when extended is not form wise like 31st August for ITR 2 , 20th September for ITR 1 , 15th December for ITR 3 etc ..
It is for all individuals having non au...Please find below pointed answers to your queries,
1. I assume ITR filing date has been extended to August 31st, is it for ITR-2 filing
Due date when extended is not form wise like 31st August for ITR 2 , 20th September for ITR 1 , 15th December for ITR 3 etc ..
It is for all individuals having non audited accounts ....
Individuals select returns based on their income heads
Some Individuals may have income heads which is there in ITR 1 , some may have income heads in ITR 2 and likewise ITR 3 , 4 etc ...
Date extension is for all individuals. So, all individuals can now file due returns be it ITR 1 /2/3/4 depending on their income upto 31st August,2019 for AY 2019 20.(assuming they are not subject to audit)
2. Which ITR form to use for a student studying in USA, left on August 9th 2018 - total 131 days in india
Selection of return shall depend on his scope of taxable income such that return contains all those income heads...if just salary, interest , then ITR 1 can be used ( provided resident )...if non resident , then ITR 2 has to be used.
3. Residential status will be NRI.
Not really sure you understand how tax residential status is figured , for someone going out for study , the 182 day criteria is not required
If he/she stayed in India for 60 days or more in the relevant previous year and for at least 365 days during the 4 preceding previous years, he still qualifies to be a resident .....here figure out whether this criteria is fulfilled which i think is positive and so it is a case of resident
4.what to mention for - total period of stay in india during previous years
- as per case ...this is to evaluate if he has stayed more than 60 days in FY 2018 19 ...if he has left on August 9th 2018 , the you can put 131 like you have already indicated
5.Total period of stay in india during the 4 preceding years (in days) please suggest from which preceding years (student was out of india in 2017 for 75 days and in 2016 for 21 days, so do we need to calculate by deducting it)
- as per case again -----this is to evaluate if he has stayed at least 365 days during the 4 preceding previous years i.e from FY 2014 15 , FY 15 -16 FY 16-17, FY ... 17 1-8
- Calculate and check...i think easily here given what you are stating for FY 2016 AND FY 2017 alone, the number is more than 365 days seeing your figures , so clearly a resident
7.Income in india for 2018-19 was Rs.4,80,000 (salary) but do we need to mention professional tax deductions of Rs.2400/-
-Obviously , this is a valid deduction U/s 16
8.Income from other sources Rs.10282 (savings bank interest) (fyi the person is out of india for more then 182 days, but till yet haven't
changed SB account to NRO- is it okay Coz under NRO account SB interest is taxed at 30-33%, so how do I calculate it, please suggest)
- It doesn't matter, be it savings or NRO both interest is taxable and has to be offered for tax
9.Rs.941 interest income from NCD (do I need to calculate tax on it, how, please suggest)
- To be offered as interest income under income from other sources
10.Investment in PPF 1,50,000
- Show under 80 C.
11.Deductions under 80TTA Rs.10,000/ possible for NRI
- yes, available FOR NRI but here it is resident ....figure out tax residency properly first ...don't just presume things
read up basics , i will not be answering basic things always so don't expect answers from me for basic queries --i neither have time nor inclination to answer basic things
12.Do I need show exempt income like PPF interest and gift
-Better to show
13.do I need to show movable assets like investments in mutual funds, if so under which head
- Not needed
14. As the total income is less Rs.3.50k but still under tax computation it is calculating tax plus Rs.1000 as late filing penalty
- Not possible that late fee for filing for AY 2019 20 is being applied , due date is extended till 31st August so late filing cannot be applied
1. I assume ITR filing date has been extended to August 31st, is it for ITR-2 filing
Due date when extended is not form wise like 31st August for ITR 2 , 20th September for ITR 1 , 15th December for ITR 3 etc ..
It is for all individuals having non au...Please find below pointed answers to your queries,
1. I assume ITR filing date has been extended to August 31st, is it for ITR-2 filing
Due date when extended is not form wise like 31st August for ITR 2 , 20th September for ITR 1 , 15th December for ITR 3 etc ..
It is for all individuals having non audited accounts ....
Individuals select returns based on their income heads
Some Individuals may have income heads which is there in ITR 1 , some may have income heads in ITR 2 and likewise ITR 3 , 4 etc ...
Date extension is for all individuals. So, all individuals can now file due returns be it ITR 1 /2/3/4 depending on their income upto 31st August,2019 for AY 2019 20.(assuming they are not subject to audit)
2. Which ITR form to use for a student studying in USA, left on August 9th 2018 - total 131 days in india
Selection of return shall depend on his scope of taxable income such that return contains all those income heads...if just salary, interest , then ITR 1 can be used ( provided resident )...if non resident , then ITR 2 has to be used.
3. Residential status will be NRI.
Not really sure you understand how tax residential status is figured , for someone going out for study , the 182 day criteria is not required
If he/she stayed in India for 60 days or more in the relevant previous year and for at least 365 days during the 4 preceding previous years, he still qualifies to be a resident .....here figure out whether this criteria is fulfilled which i think is positive and so it is a case of resident
4.what to mention for - total period of stay in india during previous years
- as per case ...this is to evaluate if he has stayed more than 60 days in FY 2018 19 ...if he has left on August 9th 2018 , the you can put 131 like you have already indicated
5.Total period of stay in india during the 4 preceding years (in days) please suggest from which preceding years (student was out of india in 2017 for 75 days and in 2016 for 21 days, so do we need to calculate by deducting it)
- as per case again -----this is to evaluate if he has stayed at least 365 days during the 4 preceding previous years i.e from FY 2014 15 , FY 15 -16 FY 16-17, FY ... 17 1-8
- Calculate and check...i think easily here given what you are stating for FY 2016 AND FY 2017 alone, the number is more than 365 days seeing your figures , so clearly a resident
7.Income in india for 2018-19 was Rs.4,80,000 (salary) but do we need to mention professional tax deductions of Rs.2400/-
-Obviously , this is a valid deduction U/s 16
8.Income from other sources Rs.10282 (savings bank interest) (fyi the person is out of india for more then 182 days, but till yet haven't
changed SB account to NRO- is it okay Coz under NRO account SB interest is taxed at 30-33%, so how do I calculate it, please suggest)
- It doesn't matter, be it savings or NRO both interest is taxable and has to be offered for tax
9.Rs.941 interest income from NCD (do I need to calculate tax on it, how, please suggest)
- To be offered as interest income under income from other sources
10.Investment in PPF 1,50,000
- Show under 80 C.
11.Deductions under 80TTA Rs.10,000/ possible for NRI
- yes, available FOR NRI but here it is resident ....figure out tax residency properly first ...don't just presume things
read up basics , i will not be answering basic things always so don't expect answers from me for basic queries --i neither have time nor inclination to answer basic things
12.Do I need show exempt income like PPF interest and gift
-Better to show
13.do I need to show movable assets like investments in mutual funds, if so under which head
- Not needed
14. As the total income is less Rs.3.50k but still under tax computation it is calculating tax plus Rs.1000 as late filing penalty
- Not possible that late fee for filing for AY 2019 20 is being applied , due date is extended till 31st August so late filing cannot be applied
Amlan Dutta
Please find below pointed answers to your queries,
1. I assume ITR filing date has been extended to August 31st, is it for ITR-2 filing
Due date when extended is not form wise like 31st August for ITR 2 , 20th September for ITR 1 , 15th December for ITR 3 etc ..
It is for all individuals having non au...Please find below pointed answers to your queries,
1. I assume ITR filing date has been extended to August 31st, is it for ITR-2 filing
Due date when extended is not form wise like 31st August for ITR 2 , 20th September for ITR 1 , 15th December for ITR 3 etc ..
It is for all individuals having non audited accounts ....
Individuals select returns based on their income heads
Some Individuals may have income heads which is there in ITR 1 , some may have income heads in ITR 2 and likewise ITR 3 , 4 etc ...
Date extension is for all individuals. So, all individuals can now file due returns be it ITR 1 /2/3/4 depending on their income upto 31st August,2019 for AY 2019 20.(assuming they are not subject to audit)
2. Which ITR form to use for a student studying in USA, left on August 9th 2018 - total 131 days in india
Selection of return shall depend on his scope of taxable income such that return contains all those income heads...if just salary, interest , then ITR 1 can be used ( provided resident )...if non resident , then ITR 2 has to be used.
3. Residential status will be NRI.
Not really sure you understand how tax residential status is figured , for someone going out for study , the 182 day criteria is not required
If he/she stayed in India for 60 days or more in the relevant previous year and for at least 365 days during the 4 preceding previous years, he still qualifies to be a resident .....here figure out whether this criteria is fulfilled which i think is positive and so it is a case of resident
4.what to mention for - total period of stay in india during previous years
- as per case ...this is to evaluate if he has stayed more than 60 days in FY 2018 19 ...if he has left on August 9th 2018 , the you can put 131 like you have already indicated
5.Total period of stay in india during the 4 preceding years (in days) please suggest from which preceding years (student was out of india in 2017 for 75 days and in 2016 for 21 days, so do we need to calculate by deducting it)
- as per case again -----this is to evaluate if he has stayed at least 365 days during the 4 preceding previous years i.e from FY 2014 15 , FY 15 -16 FY 16-17, FY ... 17 1-8
- Calculate and check...i think easily here given what you are stating for FY 2016 AND FY 2017 alone, the number is more than 365 days seeing your figures , so clearly a resident
7.Income in india for 2018-19 was Rs.4,80,000 (salary) but do we need to mention professional tax deductions of Rs.2400/-
-Obviously , this is a valid deduction U/s 16
8.Income from other sources Rs.10282 (savings bank interest) (fyi the person is out of india for more then 182 days, but till yet haven't
changed SB account to NRO- is it okay Coz under NRO account SB interest is taxed at 30-33%, so how do I calculate it, please suggest)
- It doesn't matter, be it savings or NRO both interest is taxable and has to be offered for tax
9.Rs.941 interest income from NCD (do I need to calculate tax on it, how, please suggest)
- To be offered as interest income under income from other sources
10.Investment in PPF 1,50,000
- Show under 80 C.
11.Deductions under 80TTA Rs.10,000/ possible for NRI
- yes, available FOR NRI but here it is resident ....figure out tax residency properly first ...don't just presume things
read up basics , i will not be answering basic things always so don't expect answers from me for basic queries --i neither have time nor inclination to answer basic things
12.Do I need show exempt income like PPF interest and gift
-Better to show
13.do I need to show movable assets like investments in mutual funds, if so under which head
- Not needed
14. As the total income is less Rs.3.50k but still under tax computation it is calculating tax plus Rs.1000 as late filing penalty
- Not possible that late fee for filing for AY 2019 20 is being applied , due date is extended till 31st August so late filing cannot be applied
1. I assume ITR filing date has been extended to August 31st, is it for ITR-2 filing
Due date when extended is not form wise like 31st August for ITR 2 , 20th September for ITR 1 , 15th December for ITR 3 etc ..
It is for all individuals having non au...Please find below pointed answers to your queries,
1. I assume ITR filing date has been extended to August 31st, is it for ITR-2 filing
Due date when extended is not form wise like 31st August for ITR 2 , 20th September for ITR 1 , 15th December for ITR 3 etc ..
It is for all individuals having non audited accounts ....
Individuals select returns based on their income heads
Some Individuals may have income heads which is there in ITR 1 , some may have income heads in ITR 2 and likewise ITR 3 , 4 etc ...
Date extension is for all individuals. So, all individuals can now file due returns be it ITR 1 /2/3/4 depending on their income upto 31st August,2019 for AY 2019 20.(assuming they are not subject to audit)
2. Which ITR form to use for a student studying in USA, left on August 9th 2018 - total 131 days in india
Selection of return shall depend on his scope of taxable income such that return contains all those income heads...if just salary, interest , then ITR 1 can be used ( provided resident )...if non resident , then ITR 2 has to be used.
3. Residential status will be NRI.
Not really sure you understand how tax residential status is figured , for someone going out for study , the 182 day criteria is not required
If he/she stayed in India for 60 days or more in the relevant previous year and for at least 365 days during the 4 preceding previous years, he still qualifies to be a resident .....here figure out whether this criteria is fulfilled which i think is positive and so it is a case of resident
4.what to mention for - total period of stay in india during previous years
- as per case ...this is to evaluate if he has stayed more than 60 days in FY 2018 19 ...if he has left on August 9th 2018 , the you can put 131 like you have already indicated
5.Total period of stay in india during the 4 preceding years (in days) please suggest from which preceding years (student was out of india in 2017 for 75 days and in 2016 for 21 days, so do we need to calculate by deducting it)
- as per case again -----this is to evaluate if he has stayed at least 365 days during the 4 preceding previous years i.e from FY 2014 15 , FY 15 -16 FY 16-17, FY ... 17 1-8
- Calculate and check...i think easily here given what you are stating for FY 2016 AND FY 2017 alone, the number is more than 365 days seeing your figures , so clearly a resident
7.Income in india for 2018-19 was Rs.4,80,000 (salary) but do we need to mention professional tax deductions of Rs.2400/-
-Obviously , this is a valid deduction U/s 16
8.Income from other sources Rs.10282 (savings bank interest) (fyi the person is out of india for more then 182 days, but till yet haven't
changed SB account to NRO- is it okay Coz under NRO account SB interest is taxed at 30-33%, so how do I calculate it, please suggest)
- It doesn't matter, be it savings or NRO both interest is taxable and has to be offered for tax
9.Rs.941 interest income from NCD (do I need to calculate tax on it, how, please suggest)
- To be offered as interest income under income from other sources
10.Investment in PPF 1,50,000
- Show under 80 C.
11.Deductions under 80TTA Rs.10,000/ possible for NRI
- yes, available FOR NRI but here it is resident ....figure out tax residency properly first ...don't just presume things
read up basics , i will not be answering basic things always so don't expect answers from me for basic queries --i neither have time nor inclination to answer basic things
12.Do I need show exempt income like PPF interest and gift
-Better to show
13.do I need to show movable assets like investments in mutual funds, if so under which head
- Not needed
14. As the total income is less Rs.3.50k but still under tax computation it is calculating tax plus Rs.1000 as late filing penalty
- Not possible that late fee for filing for AY 2019 20 is being applied , due date is extended till 31st August so late filing cannot be applied
- August 4, 2019
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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
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ITR 5 (Firms)
ITR 6 (Companies)
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REVISION AND RECTIFICATION
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Return processed but revision needed
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Time period for filing revised returns
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ADVANCE TAX
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HOW TO MAKE TAX PAYMENT
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Contract TDS u/s 194 C (1%)
Interest TDS (U/s 194 A) (10%)
TDS ON NRI PURCHASE
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TAXATION OF AOP
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Taxability of lottery winnings (U/s 115BB)
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Taxability of PF - withdrawing after 5years
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Taxation of Mutual Funds
Taxation of SIP
Taxation of NSC
Taxation of Post office interest
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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
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TESTIMONIALS
Hi Amlan,
Thanks for replying to my post earlier regarding which ITR to filed while I worked 6 months as Employee and 6 months as Technical Consultant for FY 18-19(AY 19-20). You told to file ITR4.
I have a foreign account in US in which i got my last Salary in Feb 2018...FY 18-19 (AY 19-20) I have b...Hi Amlan,
Thanks for replying to my post earlier regarding which ITR to filed while I worked 6 months as Employee and 6 months as Technical Consultant for FY 18-19(AY 19-20). You told to file ITR4.
I have a foreign account in US in which i got my last Salary in Feb 2018...FY 18-19 (AY 19-20) I have been staying and working in India. Please, suggest:
1-> As I am a resident, staying and working in India and did not earned any Salary/income in FY 18-19 (AY 19-20) so do i need to file tax for the salary earned in US (I already paid US taxes for years i stayed in US) and filed ITR as NRI during those years.
2-> If I am filing ITR4 as above then do I need to mention my foreign account details...last salary deposits to the US account was in Feb 2018 then i left company/US. If still i need to mention account details then which section of ITR4.
Thanks for replying to my post earlier regarding which ITR to filed while I worked 6 months as Employee and 6 months as Technical Consultant for FY 18-19(AY 19-20). You told to file ITR4.
I have a foreign account in US in which i got my last Salary in Feb 2018...FY 18-19 (AY 19-20) I have b...Hi Amlan,
Thanks for replying to my post earlier regarding which ITR to filed while I worked 6 months as Employee and 6 months as Technical Consultant for FY 18-19(AY 19-20). You told to file ITR4.
I have a foreign account in US in which i got my last Salary in Feb 2018...FY 18-19 (AY 19-20) I have been staying and working in India. Please, suggest:
1-> As I am a resident, staying and working in India and did not earned any Salary/income in FY 18-19 (AY 19-20) so do i need to file tax for the salary earned in US (I already paid US taxes for years i stayed in US) and filed ITR as NRI during those years.
2-> If I am filing ITR4 as above then do I need to mention my foreign account details...last salary deposits to the US account was in Feb 2018 then i left company/US. If still i need to mention account details then which section of ITR4.
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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
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Hi Amlan,I have some income earned from UK. In Aug 2018, I returned back to India. I then transferred my earnings over there back to India in my savings account here. I have paid the taxes in the UK.Then from September 2018 - my salary income in India started.Please let me know if1. I need to disclo...Hi Amlan,I have some income earned from UK. In Aug 2018, I returned back to India. I then transferred my earnings over there back to India in my savings account here. I have paid the taxes in the UK.Then from September 2018 - my salary income in India started.Please let me know if1. I need to disclose the earning in UK - which are now transferred to my saving account - in Income tax return.2. If yes, how can I avoid double tax? 3. Is ITR2 the correct IT return form for me?
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Amlan Dutta
Since you have been in india for more than 182 days you are a resident and hence your UK income is taxable as well .....You will claim tax relief on doubly charged UK tax as per DTAA tax relief mechanism laid out ( not possible for me to illustrate here ) ...you can use ITR 2 , shouldn't be a issue
Chetan Yewale
Hi Amlan, Thank you for the reply. I have some more queries:
1. Say during 2017-2018 FY, as an example consider that I earned 500 in UK, out of which my savings was 300
2. Say in 2018-2019, as an example I earned 300 in UK, out of which my savings were 200.
3. So, after coming back to India, I was able...Hi Amlan, Thank you for the reply. I have some more queries:
1. Say during 2017-2018 FY, as an example consider that I earned 500 in UK, out of which my savings was 300
2. Say in 2018-2019, as an example I earned 300 in UK, out of which my savings were 200.
3. So, after coming back to India, I was able to bring back - 300 + 200 = 500 .
4. Now, I have paid UK tax for both 2017-2018 and 2018-2019. I got some refund for UK tax.
5. So, when filing ITR2, I think I should enter my total earning as 500 - as only that was what I bought to India. Is this assumption correct?
6. Also, which method of Tax relief to use - section 90, 91 or 90A? Do I need to upload some documents to prove that I have paid UK tax? I do have proof to show - but do not understand how to show it in ITR2.. Please help.
7. Also, when showing this income earned, should latest currency conversion be used? Or should it be just reported in INR
I am very thankful to you for the reply and your youtube videos also have helped.
1. Say during 2017-2018 FY, as an example consider that I earned 500 in UK, out of which my savings was 300
2. Say in 2018-2019, as an example I earned 300 in UK, out of which my savings were 200.
3. So, after coming back to India, I was able...Hi Amlan, Thank you for the reply. I have some more queries:
1. Say during 2017-2018 FY, as an example consider that I earned 500 in UK, out of which my savings was 300
2. Say in 2018-2019, as an example I earned 300 in UK, out of which my savings were 200.
3. So, after coming back to India, I was able to bring back - 300 + 200 = 500 .
4. Now, I have paid UK tax for both 2017-2018 and 2018-2019. I got some refund for UK tax.
5. So, when filing ITR2, I think I should enter my total earning as 500 - as only that was what I bought to India. Is this assumption correct?
6. Also, which method of Tax relief to use - section 90, 91 or 90A? Do I need to upload some documents to prove that I have paid UK tax? I do have proof to show - but do not understand how to show it in ITR2.. Please help.
7. Also, when showing this income earned, should latest currency conversion be used? Or should it be just reported in INR
I am very thankful to you for the reply and your youtube videos also have helped.
Amlan Dutta
Since you have been in india for more than 182 days you are a resident and hence your UK income is taxable as well .....You will claim tax relief on doubly charged UK tax as per DTAA tax relief mechanism laid out ( not possible for me to illustrate here ) ...you can use ITR 2 , shouldn't be a issue
- July 20, 2019
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