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Joe Tim
Hello, my salary income is nil and i do trading indian stocks but the gains are not above than 2.5 lakh so is it compulsory for me to fill the itr ??
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If the total income is below 2.5 lakh you need not file income tax return.
However if you still have any confusion you can book consultation with expert and even get assistance in filing your Income tax return: https://www.taxontips.com/income-tax-return/
No need if you don't have income under any head. For professional help contact deepikajagan01@gmail.com
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Kamal Vijayvargiya
Dear sir,
i am an employee of PSU Bank which provides me reimbursement of medical expenses, i incurred on treatment of my 80 years old father who is suffering from chronic kidney disease and requires twice a week dialysis and other medical treatment. The expenses are around Rs. 200000 per year.
my employer add this amount to my salary and deduct tax @ 30%. I like to know that is there any provision that i can say my employer not to deduct tds or can i claim any relief or deduction while filing ITR.
Please inform details of provisions and process.
regards
Its an amount reimbursed by your employer and paid you so it is taxable in your hands.
You can check if such disease fall under any deduction and if you could claim any deduction against such income received.
You can book consultation with experts at: https://www.taxontips.com/tax-notice-personal-consultation/ and discuss if any tax can be saved.
It needs detailed explanation. For professional help contact deepikajagan01@gmail.com
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Pooja
I have taxable income for last FY year. I switched my job within FY and missed the investment declaration timeline .also I don't have much investment for the last FY .
Iplease suggest for tax savings
Hello,
Even if you missed the investment declaration to your employer, you can claim the same in your income tax return.
I hope that this answer satisfies your requirements. For any query, please feel free to contact us at badlaniassociates at Gmail.
Regards,
CA Hunny Badlani
Badlani & Associates
https://goo.gl/maps/CHA32shfXavRgdLr5
Even you miss it then now you can claim in itr depending on the nature of investment. Contact deepikajagan01@gmail.com for further queries
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Sara
I am salaried person who does FnO trading. I recently purchased a laptop for trading. Can I show it as business expenses and reduce taxes?
Hello,
F&O Trading will be declared under the business head. Laptop purchased would be declared as Fixed Assets in the Balance Sheet while the Depreciation on the cost of laptop would be considered as your business expenses and would be allowed as a deduction from the business profits.
I hope that this answer satisfies your requirements. For any query, please feel free to contact us at badlaniassociates at Gmail.
Regards,
CA Hunny Badlani
Badlani & Associates
https://goo.gl/maps/CHA32shfXavRgdLr5
Yes you can claim depreciation on the laptop.
If you need any assistance in filing ITR CLICK HERE: Good morning, please share the following documents:
1. Password of PPF Statement;
2. Upstox account details like Portfolio as on Mar 31, 2022, Capital Gain Report for the period of April 21 - Mar 22, 2022 in Excel format, transaction report in excel format for same period;
3. Zerodha account details like Portfolio as on Mar 31, 2022, Capital Gain Report for the period of April 21 - Mar 22, 2022 in Excel format, transaction report in excel format for same period (earlier pdf file was shared);
4. House loan statement and other documents related with loan so that we can bifurcate the principal and interest of every month;
5. UCO Saving account statement transactions which were related to the business expenses.
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Abhi
I'm a CA aspirant and came across a scenario regarding taxation. Can you please help resolving query.
A person received hiring bonus(tax deducted on it) in FY let's say 2020-21 but had to return back the whole amount in FY2021-22 after leaving job. Employer has not mentioned this returned amount in Form16 but had provided a recovery certificate on company letter head that says that a sum of xxxx has been recovered as hiring bonus from person. Now, Can the person claim the already deducted tax on that bonus or what can be possibly done here?
This is a common problem and one cannot do anything regarding this as the employee is paying additional tax on same.
CA Deepika Boyina 17 Jul 2022It should be included in form 16
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