Tax Filing

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Question Category : Tax Filing

    • Self filed itr, Received notice from income tax dept

      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.

      Profile photo of Pooja Saxena Asked By: Pooja 0 replies 0 helpful answers Last Updated: 8 hours, 9 minutes ago
    • Filed ITR for AY 2017-18 but recieved intimation from tax de

      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

      Profile photo of Imtiyaz ansari Asked By: Imtiyaz ansari 0 replies 0 helpful answers Last Updated: 13 hours, 31 minutes ago
    • Does one intraday trade make me a trader – for tax pur

      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?

      Profile photo of Srini Ramakrishnan Asked By: Srini 0 replies 0 helpful answers Last Updated: 1 day, 8 hours ago
    • I want to know the documents required to file ITR as per my

      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

      Profile photo of Chetan Asked By: Chetan 0 replies 0 helpful answers Last Updated: 1 day, 11 hours ago
    • Tax Returns from previous year outside of India has been pai

      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.

      Profile photo of Debkumar Chakraverty Asked By: Debkumar 0 replies 0 helpful answers Last Updated: 1 day, 13 hours ago
    • Where to mention dividend while filing the ITR ?

      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.

      Profile photo of Rajat Asked By: Rajat 0 replies 0 helpful answers Last Updated: 1 day, 22 hours ago
    • Nre itr filling as per new regulation …

      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 ?


      Sent from my iPhone

      Profile photo of Ashish Asked By: Ashish 0 replies 0 helpful answers Last Updated: 2 days, 3 hours ago
    • Issue in tax returns – Notice from IT department

      Hi H&R team,

      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 ?

      Profile photo of AKShay Amarnath Asked By: AKShay 1 replies 0 helpful answers Last Updated: 2 days, 16 hours ago
    • Which ITR for receipt of PF Gratutity by wife of deceased em

      My mother is a house wife.After death of my father on Februray 2016,She received PF on march 2016.I did not file any return for A.Y-2016-17 as her income was below basic exemption limit.

      She also received Gratuity,EDLI, leave encashment and LIC money on May and June 2016 respectively along with Monthly Family pension.she is earning monthly bank interest on above amount.

      Which ITR should be filled up? does she require to disclose above exempt income? if yes where should it be disclosed?

      As the PF had been received on F.Y,-2015-16, does it also required to be disclosed in the current ITR for A.Y.-2017-18 ?

      Thank you.

      Profile photo of Sudip Kumar Singh Asked By: Sudip Kumar Singh 0 replies 0 helpful answers Last Updated: 2 days, 16 hours ago
    • IT Dept message received from IT department

      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

      Profile photo of sanjay kapoor Asked By: sanjay 0 replies 0 helpful answers Last Updated: 2 days, 17 hours ago
    • Tax Returns Filing by a NRI for the first time

      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?

      Profile photo of Shiva Prakash Asked By: Shiva Prakash 1 replies 0 helpful answers Last Updated: 6 days, 11 hours ago
    • Form 26AS does it indicate interest cumulative of saving acc

      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?

      Profile photo of ajay singh Asked By: ajay 1 replies 1 helpful answers Last Updated: 6 days, 17 hours ago