Tax Filing

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Question Category : Tax Filing

    • Clubbing of income – other options legally

      I have invested FDs ( 20 lacs ) in my spouse name and she got IT notice of non filling of IT returns ( probably got hit > 20 lacs check ). Now I have decided to mention the FDs investment had received as cash gift from her dad to avoid clubbing of income. I hope it suffice. Will IT ask for proof of this cash transaction. Do you ppl have any experience how ‘CPC – Insight’ works say after submit how the process will be?… say manual or automated etc ?…. Also, for the queries on MF investments, I will be mentioning my PAN number as source. P.S: I pay tax of 6 lacs p.a which I feel enough for this bad govt who never provides basic infra to this country and damn care about farmers etc. Plz excuse me.

      Profile photo of sunil Asked By: sunil 2 replies 2 helpful answers Last Updated: 3 weeks, 6 days ago
    • Reg ITR 1 for tuition fee under other src

      1. I have mentioned sum of income under other sources as FD interest and tuition fees, in ITR1. Is this right ?
      2. Also, this additional tuition income is not matched against TDS-2. Is that fine? Or Do I need to use ITR2 Thanks Sunil

      Profile photo of sunil Asked By: sunil 2 replies 1 helpful answers Last Updated: 3 weeks, 6 days ago
    • File 10E before or after Reliefe u/s 89(1)

      State Govt Employee.Received arrear salary(7th Pay commission) pertaining f.y-2015-16,fy-2016-17 during F.Y-2017-18. DDO deducted 20% on entire amount.Shall I file 10E before e filing or after e filing of return for AY-2018-19.

      Asked By: Anonymous 7 replies 2 helpful answers Last Updated: 3 weeks, 6 days ago
    • ITR Filling Income chargeable under the salary(Col3)

      I am Filling ITR 2 Form for AY 2018-19. I am confused about income chargeable under the salary of TDS (18B Details of Tax deducted at Source from Salary)section , What value I should mention in this section? Is it Grass Salary mention in Form 16 i.e. column 1 (Salary Including Continence Allowance) or head Salary mention in Form 16 i.e. column 6 (Salary Excluding Continence Allowance) for IT AY 2018-19. I have declare Continence Allowance income in Exempt section but confused about chargeable under the salary of TDS section

      Profile photo of Ritesh Chaudhari Asked By: Ritesh Chaudhari 1 replies 0 helpful answers Last Updated: 3 months, 2 weeks ago
    • How to take refund of double taxation on RSU in India.

      I was assigned 40 RSU at the time of joining my Indian company for it’s stock listed in U.S, which I sold once vested. On those vested RSU, I was charged 30.9% tax (12 share got deducted) in U.S which was transferred to my company in India to pay to Indian Income Tax Department. I confirmed the same from stock brokerage company eTrade.
      Now, in my form 16-B of FY16-17, the value of remaining stock sold (28 sharess) has been added as perquisites on which tax is again deducted.

      This has lead to double taxation on my stock options.

      Now, I have to submit my ITR for FY16-17 before 31st March for which I need proof that the taxes deducted in US has been submitted to Income Tax Dept. in India.

      How can I do that? I do not see the said tax amount in 24AS or form 16?
      My aim to to get refund or not show the perquisite as taxable income.

      Regards,
      Akash Khandelwal

      Asked By: Anonymous 4 replies 1 helpful answers Last Updated: 4 months ago
    • I have received SMS from ITDCPC — ITR varification is

      I have submitted ITR through H&R Block last year. But I have received SMS from ITDCPC that my ITR verification is pending for my PAN for year AY 2016. And I have been told to submit ITR V immediately. Please help me where from I can download ITR V. — Regards Irshad , Cell# 8860501112

      Profile photo of Irshad Malik Asked By: Irshad 3 replies 3 helpful answers Last Updated: 4 months, 2 weeks ago
    • Filling Form 67 and how to attach documents

      In form 67, figure in column 11 is equal to foreign income x 25% say 239000(under Indo-Canada DTAT). This figure is auto updated in column 13. But this appears incorrect as in Return schedule FSI, 10% is auto deducted, and figure of claimed credit becomes 213000.But column 11 and 13 above have same figure of Rs. 239000? Secondly, how to attach documents in form 67 please?

      Profile photo of D C Bhargava Asked By: Anonymous 2 replies 1 helpful answers Last Updated: 4 months, 3 weeks ago
    • ITR – income tax return 2016-17 filing for NRI

      I have following queries Kindly clarify

      1. The cost – i have a referal coupon from Axis bank, but the cost increases if i apply the coupon.
      2. What all documents are needed to file ITR for NRI customer. I have already uploaded the documents and details i have.
      3. I do not have Form 16
      4. Do you need information on tax filed in Germany like my Tax ID?

      Profile photo of Ankit Gupta Asked By: Ankit 14 replies 10 helpful answers Last Updated: 4 months, 3 weeks ago
    • Filing additional tax beneficial investments

      I have already submitted my investment proofs with my company HR, and they will forward it to you for further processing. My question is, is it possible to invest some more beneficial items like Fixed deposit or PPF etc. within this financial year and can I file those items with your help? Please mention whether you may charge any amount for it? if so, how much?

      Profile photo of Karthik R Asked By: Karthik 7 replies 5 helpful answers Last Updated: 5 months ago
    • Form 67 – tax amounts asked for in the form

      There are 3 fields asked for on the form 67. The Overseas tax paid against which relief is being cLaimed; the India tax payable on overseas income; and, the tax amount calculated using the DTAA rate for the overseas income. I understand that the relief available to the person is the minimum of the 3 values above. I am confused about why the DTAA rate tax amount is asked for. Consider an example where overseas tax paid is 30% of overseas income; India tax payable is 22% on the overseas income; and, the DTAA rate tax is 15% of the overseas income. Will the person get relief of ONLY 15% though he has paid tax overseas at 30% rate which is higher than the 22% rate that works out as per India tax rules? If that is the case, the person will pay in all (30 + 22 – 15) = 37% tax on the overseas income. Is that true?

      Profile photo of Atul R Asked By: Atul 1 replies 0 helpful answers Last Updated: 5 months, 1 week ago
    • ITR 2 form filling error – The amount of A7a +A7b shou

      While filling ITR 2 form in Java, I am getting this validation error – “The amount of A7a +A7b should be equal to amount in STCG DTAA table”. How ever the values in the mentioned tables are all ZERO. Pls help me to remove this error beacuse I am not able to save the file with this error.

      Asked By: Anonymous 1 replies 0 helpful answers Last Updated: 5 months, 1 week ago
    • Is 80DDB applicable for HIV treatment expense

      Hi,

      I had been identified as HIV positive on 31st Aug 2017. I consulted my doctor at NARI (National AIDS Research Institute, Pune) and spent about Rs69000/_ in last financial year (2017-18) for medicines, as prescribed.

      Can I claim income tax deduction under section 80DDB for the treatment? If yes, then do I need to ask doctor to provide any cerificate, as a proof ?

      Also how much tax rebate can I get?

      Kindly let me know.

      Thanks.

      Asked By: Anonymous 1 replies 0 helpful answers Last Updated: 5 months, 1 week ago
    • ITR 2 AY 18-19 Filling Schedule TDS 18C(1)

      Dear Sirs,Ref.ITR2 AY18-19, Iam an INDIVIDUAL having fixed deposits in banks in my name and the bankers have given me the Form 16A showing the Tax deducted from interest income which also reflects in 26AS. In the schedule TDS 18C(1);In (Col.1a),there appears SELECT either SELF or OTHERS PAN respectively, which option should I choose ? Also please inform me which other columns to be entered like Col(7) Detected in own hand,Col(9)Claimed in own h hands,, I hope you will consider this request and expecting an reply from you soon, with Regards, Jayaram

      Profile photo of jayaram Asked By: Anonymous 3 replies 2 helpful answers Last Updated: 5 months, 2 weeks ago
    • HUF Withdrawals and related taxation in the hands of co-copa

      I have an HUF Account in my father’s name, and I file annual tax return, after paying necessary taxes. The HUF money is pooled in a bank account. Please help me understand, can coparceners withdraw money from HUF account. Can co-coparcener receive gifts from HUF. Is the amount in this case taxable in the hands of co-coparcener. How much money can be gifted to co-coparcener, without further taxation in the hands of HUF or co-coparcener. Many thanks in advance.

      Profile photo of Sanjiv Saksena Asked By: Sanjiv Saksena 0 replies 0 helpful answers Last Updated: 5 months, 2 weeks ago