sakthi (Business consultant ) (137 Points)
07 July 2018Dear Team,
- Can you pl clarify which ITR form is applicable for capital gain & other sources income head for a senior citizen?
- If a senior citizen is having capital gain & income from other sources, is he applicable for 234B & 234C?
rgds
sakthi
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177896 Points)
Replied 07 July 2018
1. ITR 2
2. No. [vide sub-sec. 207(2) of IT act]
sakthi
(Business consultant )
(137 Points)
Replied 07 July 2018
Thank you for your swift reply. But for the second question, someone has said that the 234B & C is applicable even the person doesnt have the income from business also. Is that any interpretation in that? Pl clarify.
rgds
sakthi
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177896 Points)
Replied 07 July 2018
As per section 208 every person whose estimated tax liability for the year exceeds Rs. 10,000, shall pay his tax in advance in the form of “advance tax”. Thus, any taxpayer whose estimated tax liability for the year exceeds Rs. 10,000 has to pay his tax in advance by the due dates prescribed in this regard.
sakthi
(Business consultant )
(137 Points)
Replied 07 July 2018
One More doubt in the IT filing. One of my friend have received IT notice for not filing return in the FY 15-16 in the month of Jan-18 and in the notice they have mentioned that to take action within March-2018, but unfortunately he found the notice after April-18 only. In the notice they mentioned that the amount has arrived on the basis of 26AS. I have tried to file the return in the IT site by using excel utility, but the error message is coming because of the wrong section no. seems. In the notice also they didnt mention the section no. Can you suggest me how to proceed this case to file the return. Since there is no liability hope he will not liable any penalty...Pl advice
rgds
sakthi
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177896 Points)
Replied 07 July 2018
In the months of Jan-march, many such notices were served u/s. 133(6) based on NMS reporting.
There was warning to take the case for scrutiny u/s. 148, if no proper reply received within 30 days. The response to the notices were required to be submitted manually to the officer, who served the notice; as online link were not provided to it.
It won't be too late, if you submit satisfactory reply w.r.t. specific query raised, even now.
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