Which field in ITR form to enter challan 280 details when filling revised Return? And Interest Income is calculated before or after deducation of TDS when annual Income is below Taxable Limit?
3 Replies
Udgam Koomar
(Tax Technologist)
(1949 Points)
Replied 15 June 2015
interest income is not ammly added to full income, tds is seperatly calculaed and later adjusted. 280 details needs to be mentione under colums which needs BSR codes serial no etc,
Rashi Bajaj
(CA)
(752 Points)
Replied 16 June 2015
Dear Sir,
Query1: Depending on your ITR type, there is a separate sheet for entering challan details. For Eg. Sheet "TDS" in ITR 1.
Query2: Interest income is to be calculated before TDS whether your income exceeds Max amt. not chargeable to tax or not.
Hope this helps.
Vikas Gupta
(Tax Executive)
(530 Points)
Replied 16 June 2015
In the tab namely 'Taxes Paid & Verification' you need to enter such details through the heading 'Details of Advance and Self Assessment Tax'.
I annual income is below taxable income, no interest will be charged. However if your income is taxable and tax has been short deducted, interest will be calculated on the amt which is still to be paid as income tax.
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