Query in filling the form itr

This query is : Resolved

Guest

Guest (Querist)

28 July 2011 Dear Friends / Experts,

I may request you to see the following and do me the needful :

Query 1 - ITR-5

After set off the current year's business loss against the LTCG, Firm is having total taxable income say 10,00,000/-.

After set off the brought forward unabsorbed depreciation loss of Rs. 2,00,000/-, the Gross Total income of the Firm is Rs.8 Lacs.

Firm computes special rate of 20% for the amount Rs. 8,00,000/-.

But, in the Sheet SI, system computes 20% on Rs. 10,00,000/- only and the tax reflects in Part B-TTI. 1.b.
This field is non-editable field.

Ans : ..............

Is there any problem in the form or is there any other error in the computation.

Ans : ..............

Please reply for the above queries and make me understand my mistake.

Thanks.

CA Deepak S

CA Deepak S (Expert)
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28 July 2011 You only need to fill in the details of unabsorbed depreciation in Shedule "CFL" against appropriate assessment year.
After that your tax will be calculated correctly. Filling the details in shedule BFLA is not enough.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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28 July 2011 First you fill up the page of brought forward of losses by giving the amount and the date of filoing of the returns.

Next you go the set off button and press it.

Then you go to the last page or 1st page and press calculate and accept the calculation.

Your problem shall be over come.

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