Itr 2 - urgent


Aditya Narkhede (Article)     05 August 2013

Aditya Narkhede
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I forgot to mention the details of the gratuity received of my client who was a non-government employee, now an NRI.

the gratuity received is exempt, and the return was filed u/s 139(4) of NRI. i.e. a belated return, and as we know that a return filed u/s 139(4) cannot be revised. I should have shown it under the tab EI in row 5, other exempt income, but somehow in a hurry, missed it.

So, PLEASE CAN ANYONE LET ME KNOW THE CONSEQUENCES, IF ANY.. !!

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C.A. Jignesh N. Mehta (C.A.)     05 August 2013

C.A. Jignesh N. Mehta
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even if you have selected the return u/s 139(4) , the return will be treated as filed u/s 139(1)

the advice which can be given is go ahead and revised the return of income and include the gratuity as exempt income.

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Aditya Narkhede (Article)     05 August 2013

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But the return was filed for assessment year 2012-13.. ie previous year.

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C.A. Jignesh N. Mehta (C.A.)     05 August 2013

C.A. Jignesh N. Mehta
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then you have no other option but to file a letter with ITO and send this information.

However the same will not be treated as part of return.

The letter is only a disclosure but not accompanied by a return.

There are no consequences as the income is exempt.

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Nirmit Choraria (CA Final)     06 August 2013

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I am having one query where in the retun i must write the Interest paid on Home Loan in ITR 2 ???

As whenm i enter it in the House property sheet it is not taking in the total income??

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Aditya Narkhede (Article)     06 August 2013

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To Nimit, In tab house property, in row 20, ie g, interest payable on borrowed capital -- you put the interest amount here, then see you will get it correct..

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Nirmit Choraria (CA Final)     06 August 2013

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well i am putting my value there only but it not been taken in the total i.e row 89

Where Total of A + B and All i is written it is considering only  A and B and not i


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