Itr - 2 - e-filing - queries

ITR 1579 views 9 replies

Pacer

86 Points Joined February 2012

Dear Experts,

While filing the ITR - 2 for the assessment year 13-14, I came across following queries.

Can you please help in resolving these?

1) Other Income - The savings account income is above INR 10,000. In the Schedule OS, point 1.b (Interest, Gross) - what amount should be mentioned here? (I think savings income upto INR 10,000 is exempt)

2) In view of the above question, if savings income of INR 10,000 is exempt - should this be included in the Schedule EI, point 1 (Interest Income)?

3) Schedule 80 G - There are 4 tables (A, B, C, D) - Under which table, the donations paid to a charitable trust/temple should be included? How will one come to know, if the deductions are 50% or 100%?

4) Schedule TDS2 - Where do I find the Unique TDS Certificate Number (as per the ITR 2 instruction PDF, this number is available on the right hand top corner; however no such number is available on the certificate given by the bank)?

Financial Year in which TDS is deducted - TDS deducted on 31st March 2013 - What would be the financial year (2012)?

Amount out of (6) claimed for this year - what amount is to be filled in this box?

Request for your help in resolving these queries.

Thank you in advance for your help.

Regards,

Pace

Replies (9)

JAINENDRA JAIN

ACS/CA

1668 Points Joined February 2010

take the gross of saving account interest and than claim deduction under chapter VIA schedule.

regarding donation ask for the certificate or letter from the donating organisation. the % will be mentioned there.

regarding TDS unique no. it is given in centre of the certificate. that is the no. u have to mention.

financial year is 2012

mention the same amount of tds as mentioned in 5 in column 6 to claim full TDS.

rahul

83 Points Joined June 2010

saving bank int is eligible for deduction u/s 80TTA, deductions can be taken after including in income only.

Gaurav

34 Points Joined July 2013

Complete Bank Intt should be included in Other sources of Income as Interest. And then show deduction in 80tta (max 10,000)

For example if Total Saving Bank Intt comes out to be 12,000.

Put 12000 in OS - Interest (Sheet CG-OS).

ANd put 10,000 in VIA - Section 80tta

Pacer

86 Points Joined February 2012

Thank you Jainendra, Rahul & Gaurav for your prompt reply.

Few clarifications requested -

1) Is section 8TTA applicable for the income in the last financial year (01st april 2012 - 31st March 2013)? I came across one article which said - it is applicable from April 01, 2013. Please confirm.

2) TDS Certificate issued by bank - There is no number at the center of the TDS certificate issued by the bank. I see Certicate No. on the left side. However, it comprises 7 letters. So I am not sure on this.

3) Donation - The donation receipt has the number at the back of it. Is there anyway to identify the percentage of exemption? After communicating with the trst, they say it's 50%. However, this is not mentioned anywhere on the receipt.

Also, out of the 4 tables under 80 G - where can these details be included?

Please advise.

Thank you.

Regards,

Pacer

rahul

83 Points Joined June 2010

80TTA is applicable for A.y. 2013-14 i.e. f.y. 2012-13. go ahead take the deduction without hesitation.

i think thats the certificate number (when we file a tds return the small receipt shows the same 7 letters which are reqd to be quoted on form 16a/16)

donation to trusts other than specified by the IT Act,1961 usually in the category of 50%. If the Trust has told you so then it shall 50% only. you do need the PAN no( of trust) to be qoutted in the return to claim deduction.