Nisha Yadav (Accounts exe) (455 Points)
10 January 2013Dear All,
one of my friend doing job in airforce. he has a problem realated income tax-
total income in f .y- 2011-12= salary of 11-12+ salary of training of F. Y 10-11 (he got this salary not a training time but on next year)
so what is his actual income of 11-12?
Plese help me
Thanks to all
CA Ankit Totla
(Practicing Chartered Accountant)
(469 Points)
Replied 10 January 2013
Ideally, salary is taxed on recieved or accrued which ever is earlier.
Hence, in current case the income for the current year would be only the salary for 11-12.
However, since in the previous year the return was not filed and income was not booked, it should be disclosed in current year.
But if the training salary was below the taxable limits, there was no need to file any return of income so if the training salary is less than the maximum amount does not exceed the mximum amount not chargeable to tax, simply book the training salary as capital reciepts and book current salary to taxes.
Nisha Yadav
(Accounts exe)
(455 Points)
Replied 10 January 2013
Thanks sir but problem is that they have deducted Rs 15000-
he got Rs 285000= (200000) f y 2011-12 +100000 (f y 10-11)- 15000 (tds)
now what to do
CA Ankit Totla
(Practicing Chartered Accountant)
(469 Points)
Replied 10 January 2013
Claim for TDS can be made only as per the 26AS statement.
The only option you are left with is to apply for a notice u/s 142(1) with the AO and file a return in response to such notice claiming the TDS deducted.
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 10 January 2013
Ankit
Can the assessee not file a belated return for FY 10-11 . The time stands till 31-03-2013, ie 1 year from end of AY, ie, AY 11-12.
Nisha : The tax deduction was for which FY : 10-11 or 11-12. Kindly confirm. Then a better recourse may be given.
Regards,
CA Ankit Totla
(Practicing Chartered Accountant)
(469 Points)
Replied 10 January 2013
Dipjyoti,
Sorry, i misread it as AY 10-11, yes the belated return can be file claiming the TDS return.
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 10 January 2013
| Originally posted by : Dipjyoti Majumdar | ||
 |
Ankit Can the assessee not file a belated return for FY 10-11 . The time stands till 31-03-2013, ie 1 year from end of AY, ie, AY 11-12. Nisha : The tax deduction was for which FY : 10-11 or 11-12. Kindly confirm. Then a better recourse may be given. Regards, |
 |
AGREED.
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