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Kirti Menkudle

Category : TDS ON N..,
Solved
Hi Sir,
We are planning to buy a house property worth 1.03 Cr agreement value in the joint name and joint home loan of myself and my husband. The property is also in the joint name of husband and wife and they have an Indian Pan card. However, their status is NRI. As per the rule banks says upto 23....
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Amlan Dutta
1. What things / documents should we ask from him for his investment in bonds. (Worried coz buyers are liable to pay TDS & dont want any income tax notice for not giving TDS)

Why should you even want to know whether he will get capital gain exemption or not
This has no bearing on deduction of TDS
S...
Kirti Menkudle
Thanks a lot Sir for your elaborate answer to each and every query.
Appreciate your time and effort to help people like me who are not aware of many facts.
Manvendra Singh

Category : Salary T..,
Unsolved
Hi sir
Form 16 me net income tax(8695) deduction kiya fir just niche detail of tax deducte and deposit into sentral govt amount 17390 so kar rha hai or u/s 192 me bhi 17390 and sr. No.18 me tax payable /refundable -8695 hai samj nhi aarah hai please solution sir
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Amlan Dutta
Please learn to frame questions properly ......anyways here, since the tax payable is 8695 Rs and because
more tax i.e 17390 TDS has been deducted, therefore you qualify for a refund of 17390 - 8695 = 8695 Rs...... conceptually , let me explain with small numbers ...your tax liability was of a less...
Roopali Lalwani

Category : TDS Retu..,
Unsolved
Hi,

I failed to submit the investment proofs to my employer before their deadline. I want to understand how should I claim the 80C deductions while filing the returns? We use form 16 to fill ITR and in this case, 80C investment in my form 16 will be 0.

While filling the ITR, do I just enter 1,50,000 ...
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Amlan Dutta
You can file as per actuals , if you have invested in eligible investment under 80 C , you can claim that deduction despite having not declared that in investments to the company . You don't need to attach anything but your case is likely to be auto picked by system for mismatch in form 16 and filed...
S V

Category : TDS on i..,
Unsolved
Hi,
My 26AS shows Rs. 1 Lakh tax deducted at source by HDFC Bank.
I have claimed this 1 Lakh as TDS in my ITR-2 (claimed full amount in current year, no b/f or carry fwd.)
However, in Income Tax Dept. intimation u/s 143(1) they have considered only 90,000 as TDS (in calculation by ITD) and raised a de...
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Amlan Dutta
Simple, you shall file a rectification for tax credit mismatch ...check my tutorial on how to do this in case you are not sure of the steps ......(since your tax credit statement shows TDS of 1 lakh ( hopefully under "F" implying accounts finalised ", you are entitled to full credit of the deducted ...
arun bajpai

Category : TDS..,
Solved
Good evening, sir.
Sir, how to file itr for TDS deducted u/s 194 LA for AY 2017-18 ? Assessee is individual, his agricultural land acquired by government ?
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Amlan Dutta
Can you clarify whether the compensation has been received for compulsory acquisition of land.......As per circular 36 /2016 released by CBDT , the compensation received is exempt since it falls under section 96 of RTFCLARR (Right to fair compensation for land acquisition , rehabilitation and resett...
CHANDAN PANDA

Category : Contract..,
Solved
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...
SASWAJEET ROUT

Category : Property..,
Solved
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 ...
Paritosh Jain

Category : TDS ON N..,
Solved
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...
Santanu

Category : TDS Cred..,
Solved
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!
Mahesh Naik

Category : TDS..,
Solved
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.
Mrudula

Category : How to p..,
Solved
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
Umakanta Saboot

Category : Interest..,
Solved
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...
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.