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Mahendrakumar Kolhe

Category : General..,
Solved
  • General
  • Feedback

  • 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 PF

  •   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

  •   Taxation of stipend income

  •   Taxation of Articleship stipend

  •   Taxation of Research Fellowship

  •   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

  • Request

  • SITE TESTING

  • TESTIMONIALS

+ 4
Hi Amlan

I filed ITR 2 (AY 2018-109) for income from salary + two house properties + FD income.
As per INTIMATION U/S 143(1) its showing Tax demand of rs 980. But If we see TDS AY 2018-19 the TDS from state bank of India showed wrongly calculated under tax credit available. I have attached ...
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Amlan Dutta
This is a mistake by the department , you can disagree to the demand raised and raise a rectification request for tax credit mismatch i.e TDS claim amount(rs 2101) vs TDS available amount (rs 1124). You are entitled to TDS amount of 2101 for the FD portion so there is no question of disallowance b...
Mahendrakumar Kolhe

Category : Deemed l..,
Solved
  • Deemed let out property
  • Feedback

  • 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 PF

  •   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

  •   Taxation of stipend income

  •   Taxation of Articleship stipend

  •   Taxation of Research Fellowship

  •   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

  • Request

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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...
Mahendrakumar Kolhe

Category : Taxation..,
Solved
  • Taxation of Mutual Funds
  • Feedback

  • 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

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  •   BASICS OF INCOME TAX

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  •   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

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  •     Taxation of Sukanya Samridhi scheme

  •   80CCD(1B) - Employee contribution NPS.

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  •     80 DDB - Senior citizen - Self or dependent

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  •   80E - Interest on loan taken for higher education

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  •   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

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  •   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

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  •   Refund for Bank deducted TDS

  •   Refund for LIC Commission

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  •   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)

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  •   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 PF

  •   Taxability of PF - Withdrawal before 5 years

  •   Taxability of PF - withdrawing after 5years

  •   Taxation of Bitcoin /Cryptocurrencies

  •   Taxation of Mutual Funds

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  •   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

  • Request

  • SITE TESTING

  • TESTIMONIALS

Dear Amlan,

I have below capital gain statement for Mutual fund. I want to know do we need to show this capital gain in ITR2 AY 2018-19. But Gain till 31st Jan 2018 has been grandfathered. can you please explain how this can be tackled?

Thanks in advance. #Makeknowledgefree
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Jitendra B
Amlan Dutta, One query, is it mentioned in IT policy and rules that LTCG from Equity MF and listed stocks should always be mentioned absolute gains and indexation should not be allowed on such gains?
Jitendra B
Even my trading broker site is giving LTCG Equity shares gains with indexation. Only thing is they are still making reference to old CII values and not the new CII values.
Mahendrakumar Kolhe

Category : ITR 2..,
Solved
  • ITR 2
  • Feedback

  • 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 PF

  •   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

  •   Taxation of stipend income

  •   Taxation of Articleship stipend

  •   Taxation of Research Fellowship

  •   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

  • Request

  • SITE TESTING

  • TESTIMONIALS

Dear Amlan,
How to fill ITR 2 schedule AL - for the movable and immovable property. for Salaried income 60 lacs?
Do we need to create P&L and balance sheet for this from CA? I tried searching your tutorial for this but could not find it.
Please help out
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Amlan Dutta
What is your total income i.e gross total income - savings ...if it is more than 50 lakhs , then you will need to fill the asset liability schedule ....you can consult a CA to make one for you ...i won't be getting time for doing it any time soon
Mahendrakumar Kolhe

Category : ITR 2..,
Solved
  • ITR 2
  • Feedback

  • 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 PF

  •   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

  •   Taxation of stipend income

  •   Taxation of Articleship stipend

  •   Taxation of Research Fellowship

  •   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

  • Request

  • SITE TESTING

  • TESTIMONIALS

Dear Amlan,

I have 2 home loans for which I filled ITR 2 for AY 2018-19. Interest on borrowed capital (house 1 158000, house 2 112000) total is above 2 lacs. In ITR 2 its showing loss carry forward 70,000. My doubt - for next year can i take benefit of this if my combined interest on borrowed capita...
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Amlan Dutta
For FY 2017 18 , house loan benefit until 2 lakhs is allowed and rest is carried forward to be adjusted against same head (i.e house property next year) ...surely you can claim benefit , but through bought forward loss ...so say you have house property income of -1.2 lakhs , this will also get clubb...
Mahendrakumar Kolhe

Category : Intimati..,
Solved
  • Intimation Notice under 143(1)a
  • Feedback

  • 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 PF

  •   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

  •   Taxation of stipend income

  •   Taxation of Articleship stipend

  •   Taxation of Research Fellowship

  •   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

  • Request

  • SITE TESTING

  • TESTIMONIALS

Hi, I got Intimation U/S 143(1) (June 2, 2018) (AY 2017-18)- tax dues it's because of tax credit mismatch. I filled rectification (June 4, 2018) request for the same. As per my filing tax refund 2420rs is expected but now I can't see any status for tax refund. Please guide how to ask for refund in t...
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Amlan Dutta
Raise a ticket under e Nivaran and seek tax refund...
Mahendrakumar Kolhe

Category : How to s..,
Solved
  • How to show Gift from relative in return(U/s 56(2)
  • Feedback

  • 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 PF

  •   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

  •   Taxation of stipend income

  •   Taxation of Articleship stipend

  •   Taxation of Research Fellowship

  •   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

  • Request

  • SITE TESTING

  • TESTIMONIALS

A daughter (NRI) wants to transfer her Tax Saving Bonds (Demat form) in her Mother's (RI) name.

What will be the tax implications for both of them?
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Amlan Dutta
The tax treatment of gifts in this case is guided by Section 56(2) of income tax act 1961....However, note that gifts received by by relative is exempt from levy of tax in the hands of the donee

Here, since daughter falls under relative purview, any sum of money received from assessee by daughter i...
Mahendrakumar Kolhe

Category : INCOME T..,
Solved
  • INCOME TAX
  • Feedback

  • 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 PF

  •   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

  •   Taxation of stipend income

  •   Taxation of Articleship stipend

  •   Taxation of Research Fellowship

  •   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

  • Request

  • SITE TESTING

  • TESTIMONIALS

Hi Amlan,

if I have salary income + income from shares sale (short term) then which ITR should filed?
if I have salary income + income from derivatives trading then which ITR should filed?

Thanks for the support
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Amlan Dutta
Selection of return depends on income head such that the return should contain those income heads for the assessee to be in a position to fill the return !

1.) For salary , shares sale - This heads of salary and capital gain are available in ITR 2 and so that should suffice

2.) For salary, derivativ...
Mahendrakumar Kolhe

Category : INCOME T..,
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  • INCOME TAX
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  •   BASICS OF INCOME TAX

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  •   Common Mistakes

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  •   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

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  •   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)

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  •   How to show salary income from Multiple companies

  •   Multiple form 16

  •   ITR 2

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  •   ITR 3

  •   ITR 4

  •   ITR 5 (Firms)

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  •   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

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  •   Time period for filing revised returns

  •   TAX COMPUTATION

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  •   Status of Booking in 26as

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  •   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 PF

  •   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

  •   Taxation of stipend income

  •   Taxation of Articleship stipend

  •   Taxation of Research Fellowship

  •   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

  • Request

  • SITE TESTING

  • TESTIMONIALS

Hello. I have 2 home loan ac for 2 houses. last year I filed ITR2 for same with claiming loss from house property. This year as per the new budget norms loss from house property for all properties is capped at 2 lakh. My doubt is 1 home loan account is enough for me to show loss of -1.80 lakh. so Ca...
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Amlan Dutta
Please note that loss from not all house properties but SINGLE house ( single or let out ) is both capped at 2 lakh rupees!

If somebody has two houses , the maximum loss would be 2 lakh for each property i.e 4 lakh rupees

For a person having multiple houses, one house can be shown as self occupied ....
Mahendrakumar Kolhe

Category : INCOME T..,
Solved
  • INCOME TAX
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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

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Hi Amlan,

As per the new amendment long term capital gain shall get applied on Mutual funds and equity. My doubt's are,

1.I have 4-5 MF bought in 2009 and if I sold on 25th Jan 2018 then will 10% LTCG will be applicable? if yes how?

2.I have 4-5 MF bought in 2009 and if I sold on 25th FEB 2018 then...
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Amlan Dutta
Here are my observations,

1.I have 4-5 MF bought in 2009 and if I sold on 25th Jan 2018 then will 10% LTCG will be applicable? if yes how?

No, it won't be applied ...any LTCG before 31st Jan 2018 will be exempt.

2.I have 4-5 MF bought in 2009 and if I sold on 25th FEB 2018 then will 10% LTCG will be a...
Mahendrakumar Kolhe
Thanks for clarification