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ITR filing season ... feel free to ask any queries regarding ITR filing

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ITR filing season ... feel free to ask any queries regarding ITR filing

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Super Stud Super Stud
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Free to ask or chargeable? 

Deal Lieutenant Deal Lieutenant
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Free to ask. Reply may or may not be free 😄

Deal Cadet Deal Cadet
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how to reduce ltcg from mf ? (for re we have nhai & rec )

or charity etc ?

Tax Wizard Tax Wizard
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Cant reduce mf ltcg ... have to pay tax ... But if you are willing to put whole cap gain in a new residential house , then you get exemption. 
Cool Cool
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I have allotted one IPO and the same day of allotment, I sold it. This txn  will come under intraday or STCG (15%) means I have to fill ITR 3 or 2 in this case ?

Finance Mentor Finance Mentor
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This is a thinker smile.

Like the op said, logically it's intraday but

The law can be interpreted here.  This can be considered as short term,

1. As this is a rare occurrence for you.

2. And this is MY REASONING, quite brilliant, if I can say so myself sweat_smile

You may have sold the stock on listing day. But

The shares are credited to the buyer's account, a day before the listing day.

So technically, you bought the stock the day before and sold it the next day.

This makes it short term. So filing itr2 should be enough. Pay 15% + cess as stcg tax.

Hopefully I'm right about this.
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Deal Cadet Deal Cadet
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How do I file ITR for my parents when they do not receive form 16 but have other income?

Like Magnet Like Magnet
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Means income from other sources...I also filled ITR 2. Because my mother is getting family pension ,fd interest and mf...if you are receiving  fd interest, dividend , pension then you can file ITR1

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Deal Newbie Deal Newbie
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Are there any more onlineportals like cleartax that simplify tax filing for taxpayers but don't charge you unless you seek help from a CA?

Deal Subedar Deal Subedar
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When trying to file itr online, my pre filled data file coming.Only salary part is coming in that data. I have a small amount of money obtained as capital gain through selling some shares.It is not included in pre filled data. Can I go forward with my  ITR 1 pre filled form without including capital gain amount? Or is it needed to file ITR2 by including capital gain?

Deal Cadet Deal Cadet
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It didn't fill it self, file itr 2

Deal Cadet Deal Cadet
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Any way to save tax on LTCG AND STCG earned in share market?

Like Magnet Like Magnet
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No trick..... But yes try to redeem below one lakh profit in LTCG every year. Because one lakh income is tax free.

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Deal Newbie Deal Newbie
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how to file tcs return
Tax Wizard Tax Wizard
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Can file it in normal method and add tcs that has been paid in taxes paid section
Deal Cadet Deal Cadet
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Which form for those who earn income and also sold some shares within a year for tiny amount. Also wanna offset some losses for shares sold last year 

Patron Patron
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ITR 2

Deal Cadet Deal Cadet
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Is it possible to claim tax exemption for my regular 3 year llb course when my mom(pensioner) files return under 80c? I'm 37, and self employed. Thank you. 

Deal Newbie Deal Newbie
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Hey, how to get back tds? I have already used 80 c , 80CCD , HRA, all kind of tax saving stuff.

Tax Wizard Tax Wizard
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Haha ... do u want to get back the whole amount of tds ??
Deal Subedar Deal Subedar
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I have a CA who does my and my wife's ITR. In each year, I have the following...

For Myself

  • Salary Income
  • Income from flat rent
  • LTCG on mutual fund / shares (sometimes over 1L)
  • STCG sometimes
  • Gains from debt instruments (which is added to income)
  • Sometimes need to pay advanced tax

For Wife

  • Income from equity sold, usually try to stay below 1L LTCG
  • Dividend from shares (usually well under 5K per year)
  • FD Interest (approx 75K per year)
  • No other income

Can I file tax myself and save money and not pay my CA? If yes which ITR and how to learn to do it?

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Spearhead Spearhead
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I opted for new tax in my company. But I invested some money in mutual fund, health insurance. Wanted to check if I file the old tax regime in ITR now, will i get any amount as tax refund.

How to check this?

Crowdpuller Crowdpuller
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I am filing IT return for last 2 years, but for some reason I left my job on last year April month and didn't have any income throughout the year. Do I need to still file ITR this year or I can skip this time?

Tax Wizard Tax Wizard
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Can leave it but its always better to file. You wont regret later.
Deal Cadet Deal Cadet
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How to claim the pre emi interest for housing loan? Loan started on 2019 dec and house completed on 2022.

Deal Cadet Deal Cadet
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Hello

Last year i filed itr for below 2lac total income (for 2022-23).

In 2023 i started investing in share market. End of 2024, losses of around rs 30000.

Income in 2023-24 around 2lac.

How /which form of itr to fill..

Guide pl

Generous Generous
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Credit card due loan consider hota hai ya nahi? Isko kidhar mention kare if i have outstanding but amount in Bank?

Helpful Helpful
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Opinion- Government should abolish or lower income tax and increase indirect tax. It would allow people to spend much more in the market since they have more money to spend and also the government will earn more indirect tax.

Just an opinion.

Finance Mentor Finance Mentor
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In this scenario, rich people, people who get lacs in salaries will be the ones getting benefitted.

The poor will pay double taxes that should have been paid by the rich as IT.

Is that right?

The govt already has indirect taxation in gst.

Deal Subedar Deal Subedar
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For an Individual with 11L reported income, which regime is preferred?

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Deal Newbie Deal Newbie
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Has anyone filed ITR1 in old regime. I am trying but can't be able to add deductions . Even Those are mentioned in form 16 are not showing. Any idea !

Deal Newbie Deal Newbie
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How to find the right itr to file

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Pro DealHunter Pro DealHunter
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What's the last date?

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Deal Lieutenant Deal Lieutenant
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@third.i.financial.advisors a transaction of worth 23 lakh from my ICICI Bank credit card is showing on my PAN, do I obligate to pay taxes on it? I already paid 83k income tax on my salary (13 lakh per annum). Please tell me what should I do? I'm worried.

Finance Mentor Finance Mentor
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What is the description shown for the transaction of 23L?

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Cool Cool
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Do we need to pay advance tax if TDS was deducted in monthly salary?

Tax Wizard Tax Wizard
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advance tax needs to be paid if u have other incomes too
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Blaze Blaze
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My company as of now reported only 9 months of salary with tds but for the remaining 3 months also tds was deducted which is not yet appearing in AIS. Should I wait until they send form 16 or can I go for filing.

Deal Cadet Deal Cadet
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My Father has let out a shop on rent to a daniya group of Pharmacists. They are paying rent after deducting 10% tds. My Father is retired and doesn't have any sources of income other than this shop. I need to help my father file ITR in getting the refund of that 10% TDS as his income falls less than the taxable threshold.

Need to understand what document I should get from that Pharmacist company to claim back 10% tax that they have deducted out of the rent they were supposed to pay.

Any help appreciated.

Deal Cadet Deal Cadet
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If TDS deducted, TDS certificate needs to be issued by Deductor. Further, the deducted amount will show under your PAN at time of filing and you can claim for same.

You can also submit Form 15G/H if income falls below income level.

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Deal Newbie Deal Newbie
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On which criteria, employees should select a regime?
Like up to how much salary we should go with old regime ?

I am doing investment on 80c 1,50k
80dd 50k

If salary is near 18 lacs, which regime should select an old or new one ?

Tax Wizard Tax Wizard
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There are many variable factors that determine tax. Better to work with a tax consultant for this. New regime looks beneficial here but this is just by seeing above data. 
Deal Newbie Deal Newbie
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I will only be working till August 2024 this year and my salary will stop at that time, I'm still getting taxed on my salary although my annual income will fall under the slab as I am only working till August. How do I tackle thism

Tax Wizard Tax Wizard
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what will u do from sept to march 24 ? u can claim it as refund in next year if tax is 0
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Commentator Commentator
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What fee CA should charge for filing Income Tax return (Form 16 + Tax on other income sources) .. For tier 1 city like Bangalore, Delhi, Mumbai.. Secondly I have seen CA demanding additional fees for salaried employees (close to 10% of the refunded amount) by stating that this a norm as tax commissioners also taking their share.. Why such Practices are bring followed for salaried employees.. It become very difficult to understand if CA's are favour of saving our(Common Salaried person) taxable money or more in favour of tax authorities in clearing their work loads by external settlement.

Deal Cadet Deal Cadet
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This is common but some newbies are playing with new comers who wants to file tax for cheap. Don't get trapped. U will get IT notice

Deal Newbie Deal Newbie
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My employer has paid the tax back in 2013, but now when I filed ITR, and I was supposed to get the refund.. they mentioned that in 26AS form, tax paid shoes the status unmatched for that year.

So they didn't give the refund and adjusted for for 2013 year. However I have paid the tax already in 2013.

What can be done here

Tax Wizard Tax Wizard
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pls pm me .. do u mean 2023 ??? Q isnt clear
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Deal Newbie Deal Newbie
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My salary is 4.8 lakhs and my ....STCG is 2.3 lakhs ....

What will be the tax ....i have to pay ???

New vs old ???

Pls

Tax Wizard Tax Wizard
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Need to check more things. Cant suggest answer to this here.   ... But maybe taxes will be 15 to 20k 
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Deal Newbie Deal Newbie
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Asking for 3rd Time Please help

My friend has Rs25 Lakhs Around Entries in UPI No cash entries , 300 debit ,300 credit entries, Mostly he has shifted from his own bank account to another of own for applying in ipos and then divode Back to 4 of his accounts and for applying again get alltogether in 1 account , Secondly He Used to Lend Money from His Father and Brother for Applying in IPO’s in HNI of Rs 2Lakhs but didnt got any whole year and used to return after ipo got over and do same , He has income of Rs 4.8 Lakh. Will there be any problems in filing itr?

Deal Cadet Deal Cadet
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Probably No, if in case any unusual things happen, he will have all the proofs as money is received from his father's account and returned, however if he earned money from investing, he must have to pay tax.

Deal Newbie Deal Newbie
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Hi my net salary after deduction of loan interest, ELSS and HRA is 6.15.

Any way to come down below 5? Pls suggest

Tax Wizard Tax Wizard
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Cant tell without checking your investments. Normally , nothing else will be there. But need to check
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