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CHANDAN PANDA

Contract TDS u/s 194 C (1%)...
Whether the Circular No-01/2014,dt-13/01/2014 and 23/2017,dt-19/07/2017 issued by the CBDT are also related/applicable to section 194C of the Income Tax Act or not.
A contradiction is arising between the IT Act and these Circulars in GST regime as follows ----
Section 194C (3)(ii) of IT Act says
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Amlan Dutta
My opinion - The circular 23/2017 shall have to be referred in addition to the Section 194C(3)(II) for seeking guidance on treatment of TDS ( not just in contract but any other cases ( profession etc where GST component is involved and TDS has to be deducted) .... the circular makes it very cle...
  • October 14, 2018
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SASWAJEET ROUT

Property TDS( U/s 194 IA)...
Sir, In last FY while depositing TDS against purchase of a flat, i had wrongly deposited TDS amount twice. Excess amount is also showing in my Form 26AS (Part A2) for AY 2018-19. To claim the same, i had mentioned that amount as advance tax paid in my ITR with all details (like challan no., BSR no. ...
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Amlan Dutta
When you deduct TDS , you don't get tax credit , rather the deductee does ...say you have to pay deductor 100 Rs, so you pay him Rs 99 and deduct 1 Rs TDS , this 1 Rs TDS credit is available to the seller of the property ...if you deducted two times i.e did TDS for 2 Rs , then this 2 Rs TDS credit ...
  • October 9, 2018
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Paritosh Jain

TDS ON NRI PURCHASE...
I am to purchase a flat from NRI. Capital gains for NRI ~ 40 Lacs.
I need to:
i) deposit TDS @ 20.8% on the Capital gains online through form 281
ii) File TDS returns before 15 Oct in Form 27Q
iii) Download form 16A and issue to the seller
Please let me know if I also need to fill form 15CA? Any other f...
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Amlan Dutta
You have asked similar query before where i have addressed this in much detail , i will not be repeating my answer again .....you would like to check your own query history ( we will shortly make this feature available as answer option so that me/other's will not have to repeat our answers uselessl...
  • October 1, 2018
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Santanu

TDS Credit...
Sir, my friend working in railways . He has a of 8100 as per form 16 but in 26AS there is no tds . He filed itr as per form 16 but income tax department send an intimation 143 states that he has to pay 2563 rupees instead of 5500 rupees refund . Please help sir
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Amlan Dutta
Take up with deductor so that the deducted TDS appears in tax credit statement ...until then you cannot claim credit in ITR ......have made enough tutorials on this on my channel and what to do if deductor doesn't listen , won't waste my time explaining further!
  • September 28, 2018
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Mahesh Naik

Minor Grand Son had an FD with Bank with Nominee is Grand Mother, in which PAN was not updated. Bank had deducted TDS @ 20% for FY 2017-18.
They might be forgot to update PAN of Guardian. Hence the TDS deducted on the name of Minor , He is 3 Yrs Old, Does not have PAN. In TDS Certificate they showed...
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Amlan Dutta
If PAN was not provided for whatever reason , TDS credit cannot be claimed ...deductor in this case, the bank has to revise the TDS return and put in PAN details of mother/father of the minor who can accordingly then take credit ...in short , no PAN, no credit ...- simple.
  • September 28, 2018
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Mrudula

How to pay advance tax...
This year my other income is coming around 100000 in various Bank FD and RDs and NSC (45000 in interest) Do I have to pay advance tax even though I am salaried because I have not declared them to my employer.? How do I pay advance tax?
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Amlan Dutta
If total tax liability is 10000 Rs more, then you are liable to pay advance tax ...In your case, first figure out whether the taxable liability shall exceed 10,000 rs . If yes , then pay advance tax using challan 280...check video tab on how to pay advance tax
  • September 13, 2018
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Umakanta Saboot

Interest TDS (U/s 194 A) (10%)...
Thank you very much Amlaan ji for ur kind support. I have attached here our previous chat screen shot. Continuation to that- Regarding ur response: (AY2017_18 Though I’m nt agreed with d entire demanded amount but I have paid the demand recently and willing for the refund of my extra tds deducted...
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Amlan Dutta
Once return is processed, revision ( Under section 139(5) is no longer a option

( Revision can be only done till one year from the end year of the assessment year or processing of return , whichever is earlier) ...here since return is processed, section 139(5) cannot be used any more

I really can't...
  • September 5, 2018
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Jitendra B
Another option is to make a condonation request on paper to the AO & Commission of Income Tax to allow you to file a revised return. Its a lengthy process and a visit to the AO office where your PAN is attached is required.
  • September 7, 2018
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Umakanta Saboot

Interest TDS (U/s 194 A) (10%)...
Dear Mr Amlaan,
After receiving 3 times email intimation from cpc u/s 143(1) I got an income tax demand notice u/s245 in July'18 for AY 2017_18. I missed last year to show my income from other source which is gained from interest accumulated on my old pf account of prev company. The interest is depos...
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Amlan Dutta
I don't call or share my number or offer support anywhere else ......as regards the query though , you shall file a rectification to given intimation under taxpayer correcting data and select same section for filing return as that of the original return ...i.e it is a submission of request for recti...
  • September 4, 2018
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SHRINATH

Deducted TDS not appearing in form 26 as...
Hi amlan ji, first of all I salute you for valuable efforts in making knowledge for free, I have MOD deposits with SBI with Monthly Payout, where I have submitted Form 15G with the bank but the bank still deducting TDS at Regular Payouts and when I have checked Form 26AS redirected with SBI site the...
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Amlan Dutta
Which year are you referring to ...they appear to be real fools to be deducting TDS since they aren't supposed to once form 15 G( certificate for lower TDS certificate) has been submitted ....but anyways , like you rightly observe they haven't deposited the TDS and filed TDS returns so far and ther...
  • September 4, 2018
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hemang verma

hey sir
Mera Question hai ki hame kaise malum chale ki ham refund k liye After ya Before claim file kar rahe hai. jaise mai lic income pe tds claim k liye September me ITR form bhar raha hun to Iske liye kaun sa shahi option choose karna hoga.
pls sir bataiyega jarur.
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Amlan Dutta
The due date was until 31st August for AY 2018 19 ...any date after this is referred to as the belated period and so you must use the belated section 139(4) for filing filing return in the belated period i.e after due date ...

i request that you watch my comprehensive 6 hour tutorial on filing becaus...
  • September 3, 2018
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Suman Mandal

Sir
amar ei message ta eseche. eta ki ? ete ki bhoyer kichu ache?
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Amlan Dutta
It means that wherever you are working , the employer has deducted and deposited no TDS ...i.e you have so far for FY 2018 19 no TDS credit ... say tommorrow , you have a tax liability of say 10,000 rs , then you can use available TDS credit to meet the tax liability ...at present however it appears...
  • September 2, 2018
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Suman Mandal
Thank you sir.
  • September 2, 2018
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M Vamshi Krishna

TDS Return filing...
I filed ITR for TDS using form 16A before May 31st and "got refund". My TDS deductor filed his last quaterly return and I got another form 16A. Income source 194J

I was advised to file revised return. I'm not sure how to do that. Where do I make changes? Is there any video of yours that provides step...
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Amlan Dutta
Once return has been processed one cannot submit for revision ....meet your assessing officer and seek rectification ...i have videos for revision but revision does not apply to your case
  • August 28, 2018
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