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Please answer my query

ANIL KUMAR (Qualified CA Qualified CWA) (143 Points)

05 April 2011

what if the salaried employee has income from House property and he has given those detail to the Employer and the Employer has considered the income from house property for TDS calculation???

Is there any need to file income tax return?

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5 Replies

Shriram Ramachandran (IPCC Student CWA Inter & Processing officer in GNSA Infotech Ltd) (492 Points)
Replied 05 April 2011

Yes, the person has to file his return for the AY 2011-2012, But from AY 2012-2013 if his income his below 5 Lacs he need not file return.

Thanks i think this info would have helped u

R Shriram

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SIVASIVA (FCA, Future CA) (4935 Points)
Replied 05 April 2011

Originally posted by : Shriram Ramachandran
	Yes, the person has to file his return for the AY 2011-2012, But from AY 2012-2013 if his income his below 5 Lacs he need not file return. Thanks i think this info would have helped u R Shriram

Arun Kumar. R (MANAGER) (22 Points)
Replied 06 April 2011

Yes , It is good that the person has declared the rental Income. The employer should considered the deduction of 30% of the net annual value, and then considred the balance amount as his rental income. If the person has availed housing loan, then this also can be considered.

Regards

Arun Kumar.R

rajinder soni (accountant) (21 Points)
Replied 08 May 2011

Dear All

Please help me i have deduct tds from 15.04.2011 u/s 194c tds amt. rs. 1081.00 . i have deposited challan rs. 1081.00 in government account but they are saying system not acpect a.y 2012 - 2013 till 08.05.2011. what is the late fee on mention amount and interest