Set off
This query is : Resolved
06 February 2016
Hi
Iam a salaried person.I have made some donation u/s 80G in FY 15-16 worth Rs 75000 where entire deduction is allowed. Since my employer has not included this in my Form-16, I will need to claim a refund from IT authorities for the excess tax paid. I also have short term capital gains from selling of Debt Mutual Funds in the same FY. Can the tax on this gain from selling of Debt Mutual Fund be set off against the tax refund due to me from donation?
Iam a salaried person.I have made some donation u/s 80G in FY 15-16 worth Rs 75000 where entire deduction is allowed. Since my employer has not included this in my Form-16, I will need to claim a refund from IT authorities for the excess tax paid. I also have short term capital gains from selling of Debt Mutual Funds in the same FY. Can the tax on this gain from selling of Debt Mutual Fund be set off against the tax refund due to me from donation?
11 February 2016
Yes, you can avail the benefit of excess tds deducted by your employer in your personal ITR.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- Scrutiny and reopening of past returns
- PPF interest-As Exempt Income disclosure
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Type of Capital Gain
- FEMA regulation Act. for inward remitance
- Rental income of jointly held property
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
