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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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Jayanthi MOHAN

80G - (Eligible Amount)- Donations to certain funds, charitable institutions, etc...
Are donations to Swacch Bharat & clean Ganga by residents as well as nonresidents exempted 100% for tax
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Amlan Dutta
On account of recent amendment , starting AY 2015 16 onwards, any donation made towards Swacch Bharat Koch and clean Ganga fund is 100% deductible under section 80 G of the IT act ,,,make sure that the section 80 G( especially the TAN details of the donee ) is properly filled to avail this deducti...
  • October 9, 2018
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Jayanthi MOHAN

Rectification - Taxpayer wanting to correct data...
ITR 2 A Y 2018-19 -return processed.did not get refund due to wrong mentioning of TAN in TDS schedule.how to rectify.if revised xml is to be loaded what to mention in return filed under sec, column&return original or revised columns, only TAN TO BE CORRECTED
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Amlan Dutta
Just submit a simple rectification request for taxpayer correcting data.......you can check my video tab for video solutions
Just submit a simple rectification request for taxpayer correcting data.......you can check my video tab for video solutions
  • October 9, 2018
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Jayanthi MOHAN
it asks for uploading of xml file.rcetified xml.my query is what I have to note in return filed under sec column while filling itr 2 for rectification purpose
  • October 9, 2018
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Babasaheb Doke

Rectification u/s 154...
Sir, Maine first time itr1 file kiya that mujhe intimation Mila hai jisme refundable amount jyada hai, galti se maine rectification request kiya that ab kya karu please batao sir.
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Amlan Dutta
Resubmit rectification request with correct details..........
  • October 9, 2018
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Tony

Intimation Notice under 143(1)a...
Hi,
I am Tony. I have made self assessment tax 2 times because of bank transaction error. So I made revised return for reimbursement of one challan amount. When I got ntimation U/S 143(1), the reimbursement is 0. What should I do. 26as also reflecting 2 challans. This is for AY 2018-2019

Thanks in adv...
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Amlan Dutta
You must have taken credit of paid self assessment taxes in schedule IT of the tax return ...in case you have and still it was refuted in the intimation , you can apply for rectification under tax credit mismatch ! Check video tab for rectification for tax credit mismatch correction!
You must have taken credit of paid self assessment taxes in schedule IT of the tax return ...in case you have and still it was refuted in the intimation , you can apply for rectification under tax credit mismatch ! Check video tab for rectification for tax credit mismatch correction!
  • October 9, 2018
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Jalda Srinivas Rao

Taxability of PF - Withdrawal before 5 years...
I have resigned the job before 5 years and withdrawn my PF amount (1 lakh plus) by submitting 15G/15H. Whether I need to show the amount in ITR. If yes where I need to show. I have seen your video but in that you did not mention the withdrawal of PF after resigning. Please clarify.
Thanks
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Amlan Dutta
If PF is withdrawal less than 5 years it would be taxed as given below.

1.) Employer contribution and interest thereon
Basically, the employer’s contribution and interest thereon would be fully taxable under slary head

2.) Employee contribution and interest thereon

This is the amount contributed by yo...
  • October 9, 2018
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Sandhya Bhadra

TDS mismatch in Form 16 and 26 AS...
Thanks for your excellent presentation regarding this issue. Today I got a response from CPC......now what would be my next steps..
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Amlan Dutta
You can submit a simple rectification for tax credit mismatch ....however , i feel the rectification options for AY 2018 19 has not loaded yet in the system ...i fail to recollect your case , however if memory doesn't fail me it was hardly a 8 rs difference in the tax credit mismatch ...there will b...
  • October 8, 2018
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Ritika

Computation of advance tax...
Hi original return was filed in June 2017, it's for AY 2017-18.check for calculations of 234 b..it will be great if you let me know it is calculated..
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Amlan Dutta
...Section 234(b) guides on penal interest for non payment of advance tax i...when payment is less than 90% of advance taxes due.... .....Interest is calculated @ 1% on Assessed Tax less Advance Tax paid ..... part of a month is rounded off to a full month..... say advance tax due was 100 rs and s...
  • October 5, 2018
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RAJU M

Filing return of earlier previous years...
I itr 1 filing from a.y 2018-19 but income tax deducted in feb 2017 now can i file itr 1 a.y 2017-18. If no why? If yes how?
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Amlan Dutta
if you meant to ask that you had filed return for a previous year which now you need to revise because of the fact that certain more TDS credit was available to you for that year on account of TDS (income tax deducted now which is much later to the year for which the return is already filed ) , a ...
  • October 5, 2018
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Paritosh Jain

Exempt gift income u/s 56(2)(iv)...
I wish to gift my wife Rs 65 Lakhs through bank cheque. What all formalities need to be completed for this.
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Amlan Dutta
You can execute a gift deed by visiting a lawyer ...the deed has a certain drafting style ..it mentions the donor and donee details , the relationship , the mode of payment , the amount , the tax payment details etc (lawyer shall be able to guide on this )...Since wife falls under the definition of ...
  • October 5, 2018
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KISHOR PANARA

Rectification - Tax credit mismatch...
Hi Sir,
I have filled itr for AY2018-19 before due date and got notice 143(1)u /s mismatch TDS
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Amlan Dutta
So, what is the question here, in case they have wrongly disallowed TDS credit , submit rectification request under tax credit mismatch ...check video tab for video solution on how to do this ...unfortunately as of now , rectification option for AY 2018 19 hasn't been loaded
  • October 4, 2018
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Haritha

Rectification - Tax credit mismatch...
Hi Sir,

I have bought a car in Feb 2018 and paid an advance tax of 12000. i have filed ITR-1 indicating the TCS details as 12000. I have received an Email from CPC with subject INTIMATION U/S 143(1 ) OF THE INCOME TAX ACT, 1961 with my processed ITR-1 details. In my Form 26AS , TCS is reflecting as...
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Amlan Dutta
Prior to my answer, the portion of advance tax doesn't make sense ...you need not pay advance tax for car purchase ...anyways, if the vehicle value is more than 10 lakhs , then as per recent provisons of the act , the car dealer will collect TCS at the rate of 1 % ....this figure will reflect in y...
  • October 4, 2018
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