A
Abhinav
Hi I have a doubt about stifund received by Resident doctors who are pursuing their post graduation in medical colleges. Last year I have worked as Salaried Resident doctor in a corporate hospital. So file filed for TDs return and got it. But this year I have joined my PG in a medical college. I get stifund of around 20-25k per month. So should I file income tax this time if yes through which form. No TDS was deducted by my college on this stifund. I heard stifund earned by pg students during their residency must be filed too. I have little loss through f&o trading in stock market. So now what all the forms should I file or should I file or its not required since my total income didn't cross 3 lack
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Income tax return is to be filed if your gross total income without deduction exceeds 2.5 lakhs. and with respect to your question regarding stipend amount received and F&O loss.
moving further i assume you would be having a salary or receipts from professional clinic which would be liable to tax, hence you can save the same by filing the return this year and booking losses of F&O which can be carried forward and set off with future incomes if any according to the law.
FINACO can get it done for you, do book your service ticket and we would help you in filing your return.
C
Chintan
Sir, i have fd worth rs 43845 and tds alrrady 4303 rs deduce by source.but in e filling if i put figures in income from other sources then it shows to pay additional tax of 4303. Pls help me what to do
TDS deducted at 10% rate however actual slab rate can be higher. Hence you will have to pay the additional tax
T&C applyM
Mohd Anas
Hello,
I have a property which i purchased in 2011 on home loan. I received allotment letter in 2011 only however I got possession in December 2014. I am planning to sell this property at earliest. Now I have following 3 questions
1) I have claimed 80 C benefits on the Home loan principal amount since FY 2014-15 till FY 2017-18. Now If I sell the flat in August 2018 will those benefits be reversed? I am thinking that when I got allotment letter in 2011 so ideally the 5 year holding period should start from 2011 and not from 2014 (at the time of possession). Pls suggest
2) Now as per what I know that Capital gain tax can be exempted if we use that Capital gain in buying another property either 1 year before the sale or till 2 year after the sale. Now I have already purchased a new flat (under construction) for which I have only paid 5% of amount(not complete Capital gain Amount) Now my question is, is there any time period by which this under construction flat should be completed? If builder delays the construction, then will it going to impact me and I have to pay capital gain tax?
3) This property is on my name only. Now in current year I am planning to sell it and I have a plan to book a new flat. But this new booking I will do on joint name (Myself and my wife).So I need to know, even though old flat was on my name only and new flat have joint owner including me, still I can invest all the Capital gain amount in order to save Capital gain Tax?
Regards,
Anas
1. ACCORDING TO SECTION 80C(5)(iii), 5 years starts from end of financial year of possession and not allotment which in your case would be upto 31.03.2020.
2.If builder delays the constuction and if you can prove the fact, you would be allowed the exemption.
3.Yes you can invest all your amount as tax planning.
M
Madhukumar
I sell my land for Rs 800000 am i elligible for paying tax?
Dear Madhukumar,
It depends on type of land and the location of land,
If the land is agriculture land and located in rural area as defined under Income-tax Act then it will be exempt.
Else it will be taxable, however you may claim exemption u/s 54B.
E
Esha
I have an income of stipend and interest. Its total comes around 30,000.
I have received gift from grandfather of 8 lakhs.
Do I need to file ITR?
Legally not required to file .. but since the amount involved is high, it's always better to file and be clean to avoid further departmental hassles in case of worse come situations
T&C apply
