Nri - itr 2 (very complicated)

Capital gains (STCG 113663) doesn't get reflected  in computation !!!

Dear Sir,

Thanks for your prompt reply , You are correct the abstract will be as follows

Interest from FD Rs 192090

Capital Gain       Rs 113663

Total Income      Rs 305753

Deduction          Rs 150000

Refund (TDS)     Rs 19235

I just want clarification regarding posting in ITR and whether i can claim House Registration Charges as deduction under 80 C

THanks for your support.

Stanp Duty can be claimed u/s 80(c)

(d)  stamp duty, registration fee and other expenses for the purpose of transfer of such house property to the assessee,

but shall not include any payment towards or by way of—

(A) the admission fee, cost of share and initial deposit which a shareholder of a company or a member of a co-operative society has to pay for becoming such shareholder or member; or

(B) the cost of any addition or alteration to, or renovation or repair of, the house property which is carried out after the issue of the completion certificate in respect of the house property by the authority competent to issue such certificate or after the house property or any part thereof has either been occupied by the assessee or any other person on his behalf or been let out; or

(C) any expenditure in respect of which deduction is allowable under the provisions of section 24;

Now its  correct......

Yes, you can claim stamp duty & registration charges for House property u/s. 80C.

Thanks once again sir

one more clariffication, as per ITR -2 (Section 80 C) it is no where mentioned (Stamp Duty or Registraion)

80C - Life insurance premia, deferred annuity, contributions to provident fund, subscripttion to certain equity shares or debentures, etc.

Please confirm

Sir,

I have filled the ITR - 2 form as per above but refund (TDS deducted by bank) is not reflecting on

Part B - TTI (13 - Refund)

If you are using Excel utility....... click on 'Calculate Tax' Tab...... on the side of page....

Stamp duty & registration charges paid for purchase of house property are deductible u/s. 80C (subject to aggregate limit od 1.50L)

Dear sir   a small query

Since he is a non resident having STCG , can he get the refund of TDS ? The  TDS flat rate 15% is payable  on STCG irrespective of his other incomes    and  basic exemption of 250000 is not applicable in this case 

Thanks 

@ RAJU...

Yes, you are correct, after deduction of STCG tax a refund of Rs. 1675/- is possible; unless calculation of STCG differs as per deductor & Mr. Guddu......

Thanks sir for clarification

Most Welcome......

God Bless........

Thanks  for   the information . As you said , he can set off his STCG with STC LOSS   (if any) then chances of getting more refunds 

Some more thoughts in this case :
 

Also , in which field he is filling the STCG information is also important. ITR Form 2  provides  item no 3  and 4  for Non Residents . If he fill in these  fields , ITR will calculate the Tax without considering the exemptions and deductions ( means flat rate 15% will be charged) . But if he record the STCG in any other field ( but these come under Resident Category) , then STCG will be treated as a part of  taxable income and all deductions are calculated by ITR software  including 250000 basic exemption

I don't know if it a mistake of the software OR mistake of the assessee . The imporatnt thing is that this happened for some NRI assessees who I know and they got full refunds . But I am not sure if the IT dept will demand more taxes later . 

Your advice is highly appreciated

Dear Members

Thanks for your help, now my refund is INR 1680 , one more clarification please.

I have long term capital gain on shares of X amount do i have to pay tax on long term capital gain for AY 2018-19.

Pl. clarify

guddu

No.......... Exempt u/s. 10(38) of IT act.....provided stt paid...