Hi, I had changed the job in last July (2006), and joined another. I had quarrel with previos employer and now is not issuing my Form 16 (from Apr-july, 2006), but i have the salry slips issued, can i file my IT return with these salary slips, or form -16 is a must?
Hi, I had changed the job in last July (2006), and joined another. I had quarrel with previos employer and now is not issuing my Form 16 (from Apr-july, 2006), but i have the salry slips issued, can i file my IT return with these salary slips, or form -16 is a must?
RE:Form 16 from previous employer
by Saurabh Jain on Jul 13, 2007 11:39 AM
As you have the salary slips of previous employer, you can easily calculate your total income from previous company. Just include this in current company income and calculate tax. From this year there is no need of Form 16. so enjoy and file your return.
I am a salaried individual from Mumbai. My total CTC to my current employer is 4 lacs and after deducting the necessary conveyance expenses and 1 lac as per the 80 C, the company is going to deduct some Rs 3000 as income tax. is it okay or should I tell them to deduct the entire amount at the end of the financial year. they are adamant to deduct the same monthly. also, they have not taken into account the home loan interest amount into consideration. what else can i claim as per income tax benefits or returns. Kindly advice
RE:Tax Returns
by Saurabh Jain on Jul 13, 2007 11:44 AM
Do your calculation as follows: Gross Salary : A Exemptions : B Balance : C (A - B) Savings : D Taxable income: E (C - D) Tax: if E < 1 Lac : No Tax If E > 1 Lac and E 1.5 Lac and E 2.5 lac : 25000 (E-2.5 Lac)* 0.30
RE:home loan
by rohit kulkarni on Jul 13, 2007 12:28 PM
If the house is on your wife's name then she can take the benifit. otherewise you have to include the such income from any one of your house property if it is vaccant or occupied as per the prescribed rule. you can-not take benifit on both the home loan.
Sir,I have file ITR-1 for Income from Salary and Renewal Commission from LIC,can i file right form or revise my return in other form like ITR-2 or ITR-4
I am a Govt. officer and have taken home loan from ICICI in 2003 for a flat. I have been shpwing break up of principal and interest p.a in old Saral return forms earlier. which form (ITR1 or ITR2) should I use to file return this year as ITR1 does not have any col. for the purpose. Can you please display a dummy filled ITR2 form for benefit of all of us salaried people? Thanks and regards.
RE:Iincome Tax Return - filing thereof.
by Saurabh Jain on Jul 13, 2007 12:00 PM
You need to fill ITR-2 form.
ITR-1 is for those who have salary income and/or pension income and/or interest on savings/ bank account.
You should better use Form No.2 in which you can submit details of the loss against house from property income. In ITR-2 Part B - T1 point 2, show in negative.
Dear Sir, Good morning, It is requested kindly guide us regardig ITR-2 in reference to intrest on house loan. in which colom it will mention and how. Thankig you, PRAMOD, Lucknow,(u.P.)
RE:Intrest on house loan
by Saurabh Jain on Jul 13, 2007 12:01 PM
You should better use Form No.2 in which you can submit details of the loss against house from property income. In ITR-2 Part B - T1 point 2, show in negative.
RE:Intrest on house loan
by Ramachandran Krishnamurthy on Jul 13, 2007 12:03 PM
Under Schedule HP, interest paid on housing loan is to be mentioned under 1(g).
