I’ve been filing returns by self. Today I got notice stating discrepancy in income from other sources. On checking I found that amount stated as difference is equal to amount released to builder of my under construction flat from hdfc loans. And builder has payed the tds for that. Why Is that home loan disbursement from loan provider is considered as my income. What can I do in this case. Please suggest.
I did filed my ITR for AY 2017-18 but received computer generated intimation from tax department with subject line “Communication of proposed adjustment u/s 143(1)(a) of Income Tax Act, 1961”. Actually the deduction which i am claiming with this ITR does not present in form16 , so please advise how we should proceed whether i should adjust my ITR or go with my deduction which i am claiming with proof.Thanks, Imtiyaz
I largely invest directly in Mutual Funds or shares and hold them for a year or more. However I also invest short term (less than a year) in delivery based equity shares amounting to less than 1 Crore turnover. I made a single intraday transaction for test purposes with a profit of 20 rupees (and perhaps costs of Rs. 45 in brokerage and taxes). Will this single transaction (speculative business income) make me a trader rather than an investor? What should be the heading under which these incomes are taxed?
For FY 2016-17, I have two form 16 and I purchased one property in March 2017. I want to know if I have any tax liability or if I can get my some money back which I paid as tax. I have purchased my first home and I have paid Stamp duty and registration around 1.5 lakhs. Only 466 rs paid as interest for FY 2016-17. HRA exemptions already availed in form 16. Apart from this any other way to save our money like I brought new car on cash, my own petrol expenditures, any other expenditure
From my previous employer I had travelled to UK in 2004. Company had withheld the Total Tax Deducted at source and I was entitled to get refund under the British law and the company did not give the money back.
After several reminders and legal notice they paid amount with interest in 2016. In the form 16 it has been shown as 2016-2017 income and again tax is deducted on that income.
My Question is – Since I have already paid tax in UK for my income in 2004 can I claim back the TDS paid by my previous organizaton as it seems to be double tax for my case.
I’ve received share dividend worth of Rs.35000 in 2016. Do I’ve to mention the dividend while filing ITR ? If yes where should I mention it. No tax is deducted at source as per the provisions of Section 10 (34) and Section 115-O of the Income Tax Act, 1961. However please note that as per the provisions of the newly inserted section 115BBDA of the Income Tax Law applicable from Financial Year 2016-17, the recipients of the dividend income from domestic companies in India are required to pay an additional tax @10% if aggregate of such dividends received from all domestic companies exceed INR 10 lacs for the FY.
Hi I am a nre and work in USA
I get paid in USA dollar in us current account
Then I transfer them to my nre account in India
I have saving accounts in India but what I do is take out money from nre account and then deposit on those saving accounts of India
None of my Indian based account on my name or my wife’s name has more than 2 lakh
Do I have to file itr ?
And if yes which section ?
I have accumulated an interest of 13451 on Fixed Deposits whereas is Sch TDS2 Amount subject to TDS deduction is showing Rs. 4500 /- only to which TDS deducted is 1375 /-. I am not getting it. Please, if anybody can explain!
I have been submitting returns with you since last three years and this is the first time I am getting an error notice from IT department. Can you please let me know who will look into this issue from your tem and how to resolve the error and re-submit the IT returns. Can you let me know the contact details/email ID ?
My father below message. Can someone help what he should do? Come clean on CASH DEPOSITED (aggregating>Rs.2 lakh)in bank a/cs from 9.11.16 to 30.12.16 by disclosing correct details in IT Return. File by 31.07.2017-ITDEPT
Hi, I am working at Gulf, I don’t have to pay tax here. I have three bank accounts in India (Two NRO accounts and 1 NRE account). My banks have sent me TDS on quarterly basis. Also, I invest in equities and made small profit (many of them had holding period less than 1 year). Now I have received a mail from income tax department asking to file ITR. I have never done it before, I don’t know what to do and how to do. When I log in to income tax department web site I can see two ITR forms as available options for me i.e. ITR1 and ITR4. As per my understanding I need to file ITR2 as I have gained capital from shares. Can some one advise me how to proceed in this situation please?
My 26AS shows only interest earned from one bank whereas I have accounts in other 2 banks also which are not shown in 26AS. What should I do? I have 2 kids accounts in OBC in which I am the guardian and have one RD in each account. These accounts are not reflected in 26AS. What it means ? Should I approach bank for this?
Hi, I am an employee of Reliance India. I got my Income tax return filed last year by H&R block as part of corporate customer. I wish to file my IT return for this year (2016-17) also. Please file my IT return for this year. Please let me know the documents that are required for filing the IT return. You can reach me on 9650020742 or firstname.lastname@example.org
When I sold my ETRADE stock options given by the company, tax got already deducted over there in US (as per my ETRADE statement). However, my Form-16 mentioned the entire non-taxed amount (sell value of stock options). Do I again need to pay tax in India for the same amount?