Bank deduct TDS in cases of interest payments for more than Rs 10,000 p.a. but banks do not deduct TDS if form 15H is submitted. Is there any threshold criteria or upper ceiling where banks will deduct TDS even if form 15H is submitted? For example, if a person earns Rs 10 lakh as interest on FD, he should not be allowed to avoid TDS by just submitting a form.

Dear Freinds,

I hope you are doing well !!

Basically, I need your support & guidence.There is one senior citizen (60Yr +) in my family. he retired in FY 2017 mid year from his company. unable to fill income tax return some personal reasons. now getting message to file the return FY 18-19.

But in FY 2018-2019 company also reimbursed few amount (which not reimbursed in retirement year) & charged TDS on it Rs 89,780 & issued forum 16-B (Annexure) Rs 8,41,324 after standard deduction Rs 40,000/-.

Apart from it, Bank has deduct TDS on his Fixed deposites (Retired money) interest incomes TDS 10,925.6 on Gross Receipts subject to Tax 1,09,256 due to (Not Declared 15 H)

In SBI, declared 15H although this bank also deduct TDS 4,228 on Gross receipts INR 1,53,113.00.

I am unable to calculate proper tax calculation.

Could you please help me to find out the exact tax amount along with penalty if Occur & also confirm SBI bank charged less TDS amount

Thanks & Regards

Sourabh Sharma
9625310412

Regards Form 52A
Statement to be furnished to the Assessing Officer under section 285B of the Income-tax Act, 1961, in respect of production of a cinematograph film,

Recently New form was update..In that form asking some much details (eg. country,address,Post office address ect.)when i update such a details means site was take too much time to analysis is there any other options for filing.

i contact income tax E-filing department also there is no response they simply said its online submission only no any other option.

Please guide me if there any software are some other way to file.already due date was over i have 1400 line times to fit in online form..please give me any solution

Hi Experts,

Please note that I joined new company in Jun 2019 but from 1st April to 15th June 2019 I got commission from other company more than 9 lacs & TDS 10 % already deducted at source now I would like to pay advance tax on this commission before 31st March so where I can pay this tax? As my new company already deducting my income tax as per rules & my investments then which ITR i need to fill this year? Please guide me on this.

PL EXPLAIN THIS SEC 37/1 OF IT .

Respected Sir,
My query is that i have a Gross Income is 878100 under New Scheme on which total tax is 58983.60 and on the other hand under old scheme Total tax is 80366.208 on income of 823876. My query is that while calculation tax on total income under new scheme is not considering Exemption and deduction. Such calculation is done by me at the beginning of april 2020 for F.Y 2020-2021 OR AY 2021-2022. My second query is that i opted new scheme while declaration of income for ay 2021-2022 but whether i can considered exemption and deduction e.g section 80c, HRA etc while filing of return if i opted new schme or calcuate tax as per new schme. Plz guide me sir

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What should I do now?

A taxpayer is engaged in providing outdoor catering service.Can he collect IGST in his invoice if the location of recipient is situated outside the state of supplier?

It would be great help if you could clarify,regarding employees 10% NPS contribution,
1) Can the 10% NPS contribution to get the exemption under 80cc, 80ccd, 80cce (upto 1.5 lac) First ? and then,
2) Anything extral upto 50000 claimed as Additional contribution under sec 80ccd (1b)?
3) Can only be taken in either case, but not both?
Please clarify

Dear Expert , As wef 1-4-20 TCS is applicable on sales of goods above 50Lakh by the seller. There is another condition is that, no TCS
would be under sec 206H (1H) if a Buyer is liable to deduct TDS under any other provisions.

(I) want to know what is meaning of " if buyer is liable to deduct TDS.
(II) Is GSt amount would be added for calculating TCs or only basic amount.

Kindly reply