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ITR FORM - Doubts

Dmohansrj (Accounts Executive) (82 Points)

09 December 2008

How can i show Professional tax deductions in ITR2.

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21 Replies

praveen (Chartered Accountant) (6971 Points)
Replied 09 December 2008

there is a column stating professional tax deduction. put it there

Sulay Shah (Article Assistant) (54 Points)
Replied 12 January 2009

there is no such option..you have to always state it net-off prof tax..

R.Suresh (Sr. Executive) (394 Points)
Replied 12 January 2009

No such column you have net off with gross.

R.Suresh (Sr. Executive) (394 Points)
Replied 12 January 2009

No such column you have net off with gross.

saikat bose (self employed ) (26 Points)
Replied 29 January 2009

Is it necessary to fill up P/L A/c and Schedule for Business income in ITR - 4 if any person having

deemed income u/s 44AD or 44AE or 44AF or 44BB or 44BBB ?

Garima (Student) (1107 Points)
Replied 03 February 2009

Originally posted by :saikat bose

No, it is not required.

CA CS VINAYAK PATIL (CHARTERED ACCOUNTANT) (921 Points)
Replied 20 February 2009

Originally posted by :Dmohansrj
"	How can i show Professional tax deductions in ITR2.	"

u should direct deduct prof. tax from basic salar

Dmohansrj (Accounts Executive) (82 Points)
Replied 20 February 2009

Is any deductions allowed for repayment of Personal Loan.

Dmohansrj (Accounts Executive) (82 Points)
Replied 20 February 2009

Is it necessary to keep all attachments for ITR forms?

Naina (CA Student) (477 Points)
Replied 21 February 2009

Under IT Act, 1961, no deduction is allowed on repayment of Personal Loan. There is scope of deduction on Educational and Housing Loans.

CA LOVELY ARORA (C.A. B.Com (H) Graduate) (2151 Points)
Replied 21 February 2009

Dmohansrj, R. Suresh is right in this context. There is no column as such for this purpose.

CA Sakshi (CA Practice) (309 Points)
Replied 21 February 2009

Originally posted by :Dmohansrj
"	Is any deductions allowed for repayment of Personal Loan.	"

No deduction on personal loan repayment is allowable- Section 37 of IT Act, you must read its 4 conditions. Only House lan repayment is eligible deduction u/s 80C.

CA Sakshi (CA Practice) (309 Points)
Replied 21 February 2009

Originally posted by :Naina
"	Under IT Act, 1961, no deduction is allowed on repayment of Personal Loan. There is scope of deduction on Educational and Housing Loans.	"

Naina On educational loan repayment of loan is not eligible for deduction only interest on such loan is eligible deduction u/s 80E.