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TRIPATI SAHU

Taxation of Fixed deposit...
Sir, I have a FD on bank from which I will get a interest of 9000. Since interest is below 10000, I have submitted online Form 10G in bank account.but my annual income is above 5lakh. Am l eligible to submit FORM 10G ,if not what should I do as I have already filled FORM 10G online in my SBI bank...
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Amlan Dutta
You were not eligible to fill form 15 G but now that you have submitted, bank will not deduct TDS ....what you can do is compute the tax liability and pay advance tax accordingly ...nothing to worry , next time don't repeat this mistake
  • August 15, 2018
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Kuldeep shankhwar

Rectification u/s 154...
When will the rectification of AY 2018-19 begin? The intimation was arrived on August 3?
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PARTHA SARATHI MAJEE
Amlan sir pls reply the possible answer by your useful suggestion. If possible what is time limit of rectification after getting intimation u/s 143(1).
  • August 13, 2018
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Amlan Dutta
rectification begin ---as in ----if you have applied for rectification , you can check the status of rectification ...it has no scheduled time as such ....
  • August 15, 2018
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JK Jain

Property TDS( U/s 194 IA)...
Dear Amlan, This is regarding 1 % TDS on purchase of a property from buyer side. My son has purchased a flat in noida jointly with his wife and his mother( my wife) in July 13 with sale consideration of Rs 40.126 lakh and sale agreement executed on 27-07-13 between seller and buyer. 25 Lakh loan gr...
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PARAS SOMARWAL

UTILITY FILING ISSUES...
I am try File ITR 3.. When i save XML.. error show runtime error 13 type missmatch..how fix it
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Amlan Dutta
Cannot reproduce this error , have you downloaded the latest utility ....try downloading the latest utility ...if everything fails, try doing java utility instead of excel return utility
  • August 15, 2018
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AMOL RINDHE

How to pay demand tax...
Can you please explain next steps after generating Challan for OUTSTANDING DEMAND TAX. How we have to send to officer and apply it online.
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Amlan Dutta
There is nothing for applying online ...just paying demand tax is enough ....you can also see it reflect in your 26 as ...in case it appears as pending action in dashboard , just close it by saying that the demand has been met by payment through challan
  • August 15, 2018
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RAJU KUMAR PRASAD

INCOME SCHEDULE - SALARY...
Sir mai railway ka employee hu aur mera NPS Tier-I basic ka 10% deduct ho jata h, mai us amount ko 80CCD(1) or 80CCD(1)(B) me dikhau?????? Pls help
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Amlan Dutta
If it is your own contribution , i.e employee contribution , you have choice to show it between 80 CCD(1) or 80 CCD(1B) ...note that is covered within 80 C limit whereas 80 CCD(1B) is in addition to 80C limited to lesser of 50000 or 10% of salary
  • August 15, 2018
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Gian Naorem

How to fill Salary breakup in ITR 1...
Sir what will be my basic salary for 9300-34800 and grade pay 4200
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Amlan Dutta
(basic for each month + grade pay for each month ) for the 12 months shall be your basic salary i.e salary excluding all allowances etc required in ITR
  • August 15, 2018
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santosh kumar Sahoo

How to fill in challan details for self assessment tax...
Sir i have already filed ITR for AY 18-19. Now facing problem while paying tax in bank website as it is asking some fields as Basic Tax amount, surcharge,edu cess,interest, others,. no field available for TDS (tax paid)and sec 89 relief. i attached the ITR file . pse guide
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Amlan Dutta
the return itself shall help compute all this ....check the tax computation page for breakup ...total interest is interest for 234 A, B, C combined ...you will get figures of education cess also here ...deduct payable tax liability from these two to arrive at tax figures ...rest of the question seem...
  • August 15, 2018
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Mahendrakumar Kolhe

Deemed let out property...
Hi Amlan, FY 2016-17 I have salary income and 2 housing loans for 2 housing properties hence I Filled ITR2. In FY 2016-17 I completely paid off 1 housing loan. In FY 2017-18 I have only salary income and 1 house property loan. Question - Is it necessary to show deemed let out property even if you do...
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Amlan Dutta
You can show any house as self occupied ...so assuming that the property that you have paid off loan for is self occupied , there is no income generated from this property ...all other properties shall be let out or deemed let out ...at this point there is just one property under consideration so yo...
  • August 15, 2018
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MOHAMMEDYASIN

Home loan interest benefit under 80 EE...
suppose i purchase new property apx. 25 lecs (new residential house).september 2018 my home loan senssion apx.15 lacs aug 2018
so, where i display principal amount of loan and interest its like borrowed purchase or 80EE in FY2019-20
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Amlan Dutta
Interest under 24(b) while showing income from house property and principal can be claimed in 80 C ........I am assuming that the house is under possession ....80 EE cannot be used if any other section is being used ....in this case since 24(b) is being used for interest benefit , so you cannot use...
  • August 15, 2018
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ADITYA MAHATO

Tax Computation...
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...
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Amlan Dutta
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...
  • August 15, 2018
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ADITYA MAHATO

Rebate under section 87 A...
sir
What is rebate under 87A?
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Amlan Dutta
This rebate is applicable to resident assesse whose total income is not more than Rs 3,50,000( For FY 2017 18 ) . The rebate is provided as a deduction from the total tax liability incurred by the assessee to the extent of lower of 2500 or tax payable whichever is less ...
  • August 15, 2018
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