Author Topic: News relating to Income Tax return  (Read 15930 times)

sanjeev4887

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News relating to Income Tax return
« on: February 13, 2012, 05:54:09 PM »
ki koi dasega ke income tax lyi kine form lagde han ki 16 no form kise kol hai ta please upload kar do je koi hor v form hai ta usnu v upload kar do g
« Last Edit: September 30, 2015, 04:44:10 AM by khiji NABHA »

DEEPAK

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Re: News relating to Income Tax return
« Reply #1 on: February 13, 2012, 06:19:10 PM »
Income tax layi pehlan 2 no. Form bhar ke DDO nu dena pavega. Tax katan ton baad DDO tuhanu 16 no. Form issue karega. Jekar tuhadi annual income 5 lac. ton jiada hai taan he ITR 1 Income tax office vich deposite karva devo, 30 June 12 tak.  Online vi jaman karva sakde ko.

sanjeev4887

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Re: News relating to Income Tax return
« Reply #2 on: February 13, 2012, 07:11:31 PM »
je 5 lakh to ghat hove ta

DEEPAK

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Re: News relating to Income Tax return
« Reply #3 on: February 13, 2012, 07:18:31 PM »
ITR bharan di koi jarurat nahi.

ASHWANI GROVER FAZILKA

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Re: News relating to Income Tax return
« Reply #4 on: February 17, 2013, 01:49:20 PM »
Income Text calculating ley format ya software hona chahida jis de according fill kita jave ta k fill krn ley koi problem na aye

GURU BEDI (ਗੁਰੂ ਬੇਦੀ )

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Re: News relating to Income Tax return
« Reply #5 on: February 17, 2013, 01:56:35 PM »
Check this

A STAR

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Re: News relating to Income Tax return
« Reply #6 on: February 17, 2013, 05:50:55 PM »
PLZ HELP ME TO OPEN THE ABOVE .XLSX FILE OF GURPREET KAUR
MY MS OFFICE IS UNABLE TO OPEN THIS
I HAVE WINDOW 7

GURU BEDI (ਗੁਰੂ ਬੇਦੀ )

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Re: News relating to Income Tax return
« Reply #7 on: February 17, 2013, 06:11:21 PM »
Download compatibility pack for ms office 7

kulvir singh

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Re: News relating to Income Tax return
« Reply #8 on: February 17, 2013, 06:56:18 PM »

SkS

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Re: News relating to Income Tax return
« Reply #9 on: February 21, 2013, 08:19:44 PM »
Dear All
You must have submitted your form no2. But check it once again.

For the Receipt of pay and allowances pertain to previous years as arrears,  Income tax Act provides for a relief under Section 89(1) of the IT Act.
The income tax on arrears (6 th pay commision)  of our previous years salary can give us some relief.
 I am attaching a file with this post. check it.
You can revise your form no 2 again.

[blink]It works as follows.[/blink]

Spread the arrears that you have received to the respective years.  For example, if you have received arrears for the last four financial years and the current year break it into three (i.e) for the year 2006-07, 2007-08, 2008-09, 2009-10, 2010-11.

Calculation 1

Calculate income tax for the taxable income without including arrears for 2006-07 and 2007-08 seperately based on tax structure applicable during these years.  Then add apportioned arrears to the respective year’s taxable income and again find the tax.  Find the difference in tax on account of addition of arrears portion.   this difference has to be calculated for 2006-07 and 2007-08 seperately.  Then these two difference tax amounts have to be added to find out the total difference in tax on account of arrears portion added to the taxable income in the relevant years.  This is the resultant amount calculated in “Calculation 1″

Calculation 2

Then  find out the  income tax for the current year without including the arrears.  Then find out the income tax for current year after including the total arrears received which relates to current year and also the previous years.  Difference of these two tax amounts  is the additional tax we have to pay  on account of receipt the arrears for the current year and the previous years.  This is the resultant amount calculated in “Calculation 2″

Now, subtract the resultant amount as per “Calculation 1″ from the resultant amount as per “Calculation 2″.  This gives your income tax relief under Section 89 (1).  Obviously, if resultant amount as per “Calculation 1″  is not less, relief is Nil.

This calculation gains significance as all of us have received the 6CPC arrears during this year which may add to our tax liability.

Since this calculation is little bit complex if not difficult, GConnect has come up with an application to calculate Income tax relief under Section 89(1)
« Last Edit: February 21, 2013, 08:33:13 PM by SkS »

 

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