income tax return filing
This query is : Resolved
25 March 2018
If a person receives pocket money from various relatives, Under what head that income will come while filing income tax return. thanks in advance
Nikhil Kaushik
(Expert)
25 March 2018
it is not to be mentioned in the tax return as it is not any form of income.
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Nikhil Kaushik
(Expert)
25 March 2018
refund of what???????
Nikhil Kaushik
(Expert)
25 March 2018
how is that related to gifts received from relatives? TDS deducted is on interest. so file the return stating the interest income earned and tax deducted. if the tax deducted is higher than the the tax liability, income-tax department will grant the refund of excess amount. As an accountant you should know all this anyway
25 March 2018
sir TDS is deducted for for Rd.2000 only. Afterwards that person has given 15 G
25 March 2018
his total deposit amount for FY 2016-17 is Rs.30000 only. tax department has sent letter to file income tax return before 31st March 2018.
25 March 2018
shall I show that total of 30000 as income from other sources ?
KAVIRAJA ADDANGADI
(Expert)
25 March 2018
Deposit amount not to be considered as income from other sources, you have to show interest portion accrued or Earned for Financial year, if your all income below Threshold limit, file your Tax return and claim refund.
CA Rashmi Gandhi
(Expert)
25 March 2018
Show your Income from FDR as Income from Other Sources & claim TDS on it.
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27 March 2018
madam income from interest is RS.10000 only for 2016-18. Bank has deducted RS.200 as TDS the interest amount of RS 2000. After the second the quarter that person has submitted 15G. Total amount deposited for that period was RS.35000 only. Is it necessary to file income tax return as the income-tax department has sent letter
27 March 2018
madam income from interest is RS.10000 only for 2016-17. Bank has deducted RS.200 as TDS the interest amount of RS 2000. After the second the quarter that person has submitted 15G. Total amount deposited for that period was RS.35000 only. Is it necessary to file income tax return as the income-tax department has sent letter
KAVIRAJA ADDANGADI
(Expert)
28 March 2018
Yes, file itr declare income from other sources Rs.35000/- claim tds refund.
CA Rashmi Gandhi
(Expert)
28 March 2018
Yes you have to file return.
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