Here in your case since you have not filed return for AY return can be satisfaction of the tax officer, only then the person is allowed to file the ITR. (ii) Rs. 10, in case it is filed after December 31 of the relevant assessment year. Today we list down for you the changes which have been in the Income Tax Return forms ITR -2 for financial year (assessment year. Yogesh Ji till now, the IT Department not released the Excel utility. U can fill the form by Java utility, or wait for Dept. to release excel utility.
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It is once again time for filing IT return. If you have only one source of income then there will be no problem. But in case if your income is from different source then you will get confused in using forms for the same.
Note -We deactivated commenting option for this post. This form can be used by an individual or HUF who is partner in a firm and where income chargeable to tax under the head of Business or Profession. But must not include any income except the income by the way of interest, salary, bonus, commission or remuneration. Also in case partner of firm does not have any income from the firm by way of interest or salary etc.
This form can be used to individual or HUF who is carrying out a proprietory business or profession. This form can be used by persons including companies who are required to furnish return under Sec. Basavaraj Tonagatti is the man behind this blog.
The purpose of this blog is to “Spread personal finance awareness and make them to take informed financial decisions. These should not be construed as investment advice or legal opinion. Can I file ITR form 1, as my main income is from salary, and show the above amount from professional services as income from other sources? My wife is getting income from only on house rental 3L p. My wife has part time tuition income of apprx 2 lacs p. Can I show her income as income from other sources and file ITR1.
I have individual business income video production. We also started a partnership firm in Feband want to file presumptive income for that. Do I need to file two returns?
Thanks for your reply. But what about my personal income. I normally file ITR-5, but this year we made the partnership firm too. If my income from business done on my personal name and interest, would be filed under ITR—5 and then another ITR-4S for the partnership firm.
Income Tax Return Filing AY 2014-15-Which forms to use?
So I am a bit confused. I am a student. I interned with a firm and they paid me after deducting TDS under Section J professional or technical service. ITR-4 seems very complex. I am working in private company from july My gross salary not come under taxable income but tax deducted under section J, how to file itr?
Deepak-If your taxable income is less than the minimum prescribed limit, then you can file IT return and get the refund of TDS. Sir, My son has paid the premium for he health insurance of my wife and for myself by means of a bank cheque.
But the health insurance company has issued separate receipts in the name of my wife and in my name. In short the insurance company has not issued receipt showing the name of my son in both receipts. Whether my son can claim 80 d with these receipts for health insurance or he has to insist the insurance company to issue receipt in his name for the payment of premium paid for his parents.
I request clarification in this regard. My friend is a contractor in a bus body building company. Company issue Form16 A to him. He is not maintaining any books of accounts. Kindly guide me which ITR form he should file. Hence, your TDS is not from salary, then mention that number there. Otherwise, keep it blank. Now i am transfered to other city and purchased flat with home loan in that city.
I have retired from PSU service. Now I have following income: I am doing consultancy and getting professional fees from various companies. I also deal in shares and have made loss on long term and gain on short term.
Which form I should use? Further what expenses I can deduct from my professional fees paid to me? Do I have to keep proof for these expenses? Rajesh-You have to use ITR4. Yes, you have to keep the proof of expenses. IT rates are same as that of other individuals.
ITR-2 Excel Version Available for Download for AY 2014-15
Hi Sir, My employer deducts Rs. How to show this in Schedule BP?
HenceI have to file ITR 4. As my employer deducts Rs. Please suggest which form to file in this regard? Dear Sir Thanks for providing your precious time to readers. I have a query. I am a PSU employee and I also do share market trading, mostly itt based but also occasionally intra day. I had filed my ITR for assessment year on 31st Aug, and also had some refund.
I also 20144-15 trading in and had some profit. But since i was new and did not have any idea so i could not declare my profit from share market. I want to pay my tax for the income which i did not declare.
How to make a rectification?
Which form should i file as revised form? Sir thanks a lot for prompt reply… 1. In form 4s there is no option for capital gain… Where do I fill the profit?
Did I commit a mistake? What may be the consequences? My income from share is 60k rs. If you scared, then I suggest you to take the help of tax expert of your area. Sir, I have income from salary for which the form 16 is issued by my employer and also have earned from professional service as a Trainer for which the service receiver organisation issues form 16A for TDS under J. I will get 80C benefit for only Rs.
The rest of the money Rs. Debadrito-It will not be taxable. But you will not get any tax benefits for investing that additional Rs. Dear Sir, My son has borrowed a interest free loan from me and from my wife amouting to 1,50, to book a flat for him. While filing income tax return which form he has to use and in which column he has to show the loan ihr is an exempted income for him.
Sankarasubramanian-It is advance you paid to him without interest. So the form will not change to him. Dear Sir, Thank you very much for your reply. You mean to say that my son need not mention the amount received as loan in the income tax return. Salary income is the only source of income for him.
Hence ITR 1 Form has to be used.
Changes in ITR -2 for FY (AY ) – ClearTax Blog
Sir, My wife retired from service on She received gratuity and encashed earnd leave at her credit. So these amount comes under exempted income.
Which IT return has to be used? At which coloumn the exempted amount has to be shown in the it return? Sir, Thanks for your reply. From you reply I understood that my wife has to be file ITR1 since pension is the only sournce of incoem for her. More over I need not mention the gratuity.
As my total income does not exceed Rs. I am An Employee in State Govt. I am a practicing doctor. This I just confirmed online. I was also receiving salary from a hospital this last year. I asked him he said it will not be a issue.