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Filing return of earlier previous years
Section 119(2)(b) Delayed filing
Section 92 CD Advance Pricing agreement
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
DEDUCTIONS UNDER SECTION 80
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
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
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
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
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
INCOME SCHEDULE - HOUSE PROPERTY
Deduction benefit for House property
Deduction benefit for let out property
Home Loan interest under 24(b)
Standard deduction of 30% of NAV
Deduction benefit for self occupied house property
Home loan interest under 24(b)
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
Partially occupied , partially let out property
Property let out partially for the year
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
Double Tax Avoidance Agreement
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
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 fill Salary breakup in ITR 1
How to fill salary income in TDS schedule
How to show employer NPS in return
How to show HRA in ITR 1
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 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 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 Providend Fund
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
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
Hi Sir, here is my from 16 screen shot . my hra is under section 10. however i have added it in Allowances not exempt. can you help me to fill again in corrected HRA. I have filled already. Can i now modify it.
Check my tutorial for subject matter ...you should not have added the HRA in taxable""( non exempt allowances ...now that you have and i believe , already submitted , simply file a revised return under 139(5) showing correct figures ...for non exempt allowances , do gross (1132563 )- basic pay (12 ...
Check my tutorial for subject matter ...you should not have added the HRA in taxable""( non exempt allowances ...now that you have and i believe , already submitted , simply file a revised return under 139(5) showing correct figures ...for non exempt allowances , do gross (1132563 )- basic pay (12 months ) - exempt allowances ( exempt HRA of 76025)...next time select category properly else query shall be deleted from the site ....it may still get deleted ( if possibl;e do edit and put it under proper category)
Check my tutorial for subject matter ...you should not have added the HRA in taxable""( non exempt allowances ...now that you have and i believe , already submitted , simply file a revised return under 139(5) showing correct figures ...for non exempt allowances , do gross (1132563 )- basic pay (12 ...
Check my tutorial for subject matter ...you should not have added the HRA in taxable""( non exempt allowances ...now that you have and i believe , already submitted , simply file a revised return under 139(5) showing correct figures ...for non exempt allowances , do gross (1132563 )- basic pay (12 months ) - exempt allowances ( exempt HRA of 76025)...next time select category properly else query shall be deleted from the site ....it may still get deleted ( if possibl;e do edit and put it under proper category)
Hi Amlan, I am a salaried individual. I need to know, how to calculate LTCG. For AY 2018-19, i have some gains before 31-Jan-18 and some till 31-Mar-18. Do i need to fill ITR 1 or ITR 2 and how to fill it? Please help
You will fill ITR 2 ...for gains before 31st January, they remain exempt and you shall show it in exempt income schedule under relevant head and for gains after 31st Jan , you will show it under capital gain schedule under LTCG portion of the return ...the return shall compute the requisite tax
You will fill ITR 2 ...for gains before 31st January, they remain exempt and you shall show it in exempt income schedule under relevant head and for gains after 31st Jan , you will show it under capital gain schedule under LTCG portion of the return ...the return shall compute the requisite tax
sir My total chargeable salary income ( i.e B1 vi=i+ii-v) as per Form 16 is more than auto generated tax details section of employer though it matches with figure of 26AS so which one should i put on this section? since tax deduction figure not being changed even after putting the different figure. th...
sir My total chargeable salary income ( i.e B1 vi=i+ii-v) as per Form 16 is more than auto generated tax details section of employer though it matches with figure of 26AS so which one should i put on this section? since tax deduction figure not being changed even after putting the different figure. thanks
For showing income,you will put chargeable income as per form 16 in the income schedule..let the return compute tax ....you will take tax credit as per deducted TDS appearing in 26 as . please draft questions properly next time around ...if the answer doesn't make sense it is because the question i...
For showing income,you will put chargeable income as per form 16 in the income schedule..let the return compute tax ....you will take tax credit as per deducted TDS appearing in 26 as . please draft questions properly next time around ...if the answer doesn't make sense it is because the question is horribly drafted
For showing income,you will put chargeable income as per form 16 in the income schedule..let the return compute tax ....you will take tax credit as per deducted TDS appearing in 26 as . please draft questions properly next time around ...if the answer doesn't make sense it is because the question i...
For showing income,you will put chargeable income as per form 16 in the income schedule..let the return compute tax ....you will take tax credit as per deducted TDS appearing in 26 as . please draft questions properly next time around ...if the answer doesn't make sense it is because the question is horribly drafted
PPF Withdrawal and tax implications: Had an EPF account from Dec 2011. EPF was with EPFO regional office. I joined another company("B") in Aug 2014 which has Trust. I did not transfer the EPF to Trust. So my UAN account displays 2 PF accounts. From Company-B, I came on deputation to USA for project ...
PPF Withdrawal and tax implications: Had an EPF account from Dec 2011. EPF was with EPFO regional office. I joined another company("B") in Aug 2014 which has Trust. I did not transfer the EPF to Trust. So my UAN account displays 2 PF accounts. From Company-B, I came on deputation to USA for project work from May 2016. Since I got US salary, EPF stopped from May 2016. I am still with the same company. Since I am in USA currently, I file tax in USA and I file income tax in India as well but no income. Recently, on Jan 2018, I have withdrawn EPF from the old EPF account(From Dec 2011-Jan 2018). 10% TDS had been deducted for the withdrawn amount. Question: Since the overall life of the EPF account was more than 5 years, will it be still taxable? If no, can I claim exempt for the withdrawn amount?
Hi Amlan, Today i filled my father's ITR. In tax computation tax liability was 3908 and tax credit as per 26 as was 227 So i paid tax using e-pay tax Rs. 3680 (As it was auto-fillled column ) now the problem is , there is difference of rs. 1 between liability against what i paid. now do i need to...
Hi Amlan, Today i filled my father's ITR. In tax computation tax liability was 3908 and tax credit as per 26 as was 227 So i paid tax using e-pay tax Rs. 3680 (As it was auto-fillled column ) now the problem is , there is difference of rs. 1 between liability against what i paid. now do i need to do anything regarding this or should i leave it.
Thanks....but all credit goes to you whatever i know regarding ITR .. i learnt from your vedios. Now i filled all of my family member's(father,mother,wife,brother) ITR except myself. I do trade in stock market in all segments. Can you please make a detailed vedio on this Specially F&O.
Bank has already deducted TDS of 10 percent on FD interest. So if I show the whole amount under income from other sources, since I fall in 20 percent bracket it shows 20 percent as TDS to be paid but I only want to pay 10 percent remaining. Then how do I put the amount under income from other so...
Bank has already deducted TDS of 10 percent on FD interest. So if I show the whole amount under income from other sources, since I fall in 20 percent bracket it shows 20 percent as TDS to be paid but I only want to pay 10 percent remaining. Then how do I put the amount under income from other sources and under Sch 2 TDS 2 or shall I not put under SCH TDS 2 and income from other sources.
The taxes will get computed at 20 % but since you have already paid 10 % , so despite computing tax as per slabs ( say it works out to be 20% ), you will get credit of TDS paid of 10% which you will be claiming in TDS schedule ( schedule2) and in effect required to pay only balance ( tax liability -...
The taxes will get computed at 20 % but since you have already paid 10 % , so despite computing tax as per slabs ( say it works out to be 20% ), you will get credit of TDS paid of 10% which you will be claiming in TDS schedule ( schedule2) and in effect required to pay only balance ( tax liability - tax credit ) ...so you in effect are not paying 20 % but just the tax liability taking into account the taxes that you have alreaady paid
The taxes will get computed at 20 % but since you have already paid 10 % , so despite computing tax as per slabs ( say it works out to be 20% ), you will get credit of TDS paid of 10% which you will be claiming in TDS schedule ( schedule2) and in effect required to pay only balance ( tax liability -...
The taxes will get computed at 20 % but since you have already paid 10 % , so despite computing tax as per slabs ( say it works out to be 20% ), you will get credit of TDS paid of 10% which you will be claiming in TDS schedule ( schedule2) and in effect required to pay only balance ( tax liability - tax credit ) ...so you in effect are not paying 20 % but just the tax liability taking into account the taxes that you have alreaady paid
1.Under 26AS form, an income is showing from Regional office i.e. 194A but I do't know what income is that, as I have not got that income. So do I still need to pay TDS on that amount.And how can I rectify or remove that amount which is showing against Regional office.
1.Under 26AS form, an income is showing from Regional office i.e. 194A but I do't know what income is that, as I have not got that income. So do I still need to pay TDS on that amount.And how can I rectify or remove that amount which is showing against Regional office.
2.Under form 26AS the amount credited against interest on FD interest for one of the bank is showing less, where as when I calculated the amount credited is more.Since the TDS is not deducted by the bank, do I pay TDS on interest amount that I have calculated or which is showing on form 26AS.
1.) Take up with the regional office ...it is some kind of interest income since TDS u/s 194 A denotes interest income...perhaps they have deducted for some other employee with identical PAN and put your PAN in their place ....unfortunately since it appears in your 26 as , assessing office may call ...
1.) Take up with the regional office ...it is some kind of interest income since TDS u/s 194 A denotes interest income...perhaps they have deducted for some other employee with identical PAN and put your PAN in their place ....unfortunately since it appears in your 26 as , assessing office may call for scrutiny and later accept that it is not your income ...you can call the deductor ()if you are able to trace them/0 and ask them to correct TDS return 2.) You have to show actual interest an ask bank to correct TDS records so that 26 as reflects actual credit
1.) Take up with the regional office ...it is some kind of interest income since TDS u/s 194 A denotes interest income...perhaps they have deducted for some other employee with identical PAN and put your PAN in their place ....unfortunately since it appears in your 26 as , assessing office may call ...
1.) Take up with the regional office ...it is some kind of interest income since TDS u/s 194 A denotes interest income...perhaps they have deducted for some other employee with identical PAN and put your PAN in their place ....unfortunately since it appears in your 26 as , assessing office may call for scrutiny and later accept that it is not your income ...you can call the deductor ()if you are able to trace them/0 and ask them to correct TDS return 2.) You have to show actual interest an ask bank to correct TDS records so that 26 as reflects actual credit
Harshit ,in the return utility(ITR), (i) Schedule "Total income(TI)" schedule reflects the computation of total income and (ii) Schedule "Tax computation on total income(TTI)"reflects the computation part
i don't think you can print that schedule alone ...but once return is filed , you get a cop...
Harshit ,in the return utility(ITR), (i) Schedule "Total income(TI)" schedule reflects the computation of total income and (ii) Schedule "Tax computation on total income(TTI)"reflects the computation part
i don't think you can print that schedule alone ...but once return is filed , you get a copy of the filed return , you can check the TTI schedule for computation of income and tax therein... if you come to know of anything else to generate your income computation , let me know as well on my personal email id...check the attached pictures for the schedules Total income (TI) and tax computation on total income( TTI) that i was referring to.
For ITR 1/ITR 4 ( presumptive) , you can generate preview of return before submitting but that doesn't happen in other ITR's
Harshit ,in the return utility(ITR), (i) Schedule "Total income(TI)" schedule reflects the computation of total income and (ii) Schedule "Tax computation on total income(TTI)"reflects the computation part
i don't think you can print that schedule alone ...but once return is filed , you get a cop...
Harshit ,in the return utility(ITR), (i) Schedule "Total income(TI)" schedule reflects the computation of total income and (ii) Schedule "Tax computation on total income(TTI)"reflects the computation part
i don't think you can print that schedule alone ...but once return is filed , you get a copy of the filed return , you can check the TTI schedule for computation of income and tax therein... if you come to know of anything else to generate your income computation , let me know as well on my personal email id...check the attached pictures for the schedules Total income (TI) and tax computation on total income( TTI) that i was referring to.
For ITR 1/ITR 4 ( presumptive) , you can generate preview of return before submitting but that doesn't happen in other ITR's
