Hello Sir, thank you for detailed explanation. One question: For the jewellery and bullion section, do we need to mention the amount of only the jewellery/gold bought by the taxpayer, or anything else which is gifted to the taxpayer by the family/friends during wedding as well?
I will be filling my ITR 4, I have reported my bank balance but do I need to disclose my assets like investments (Equity, Mutual Funds) and equipments?
Hello Sir, 1. In movable asset under financial assets, for deposits do we need to include PPF balance also? 2. For bank accounts if it’s a joint account, who should report it primary or secondary holder or both? Also, there is a separate section for mentioning other bank account details, there also does both holders need to include bank details or just primary? 3. I get RSU and ESPP/ESOP shares from my company(MNC) which are listed on foreign exchange. I do declare them under Schedule FA already. Do I need to declare them in Schedule AL as well in “Shares and securities”? If yes, should it be the value as of 31st March in rupees of the stocks held at that time in account?
Sir, The issue that confuses me is on Several old Fds for decates kept of being renewed. In reporting do we have to report all the Fds we have still holding upto 31 march 2024. How to determine the original principal cost (Sch A & L in ITR) Indivudual.
Res sir I am a govt employee and I worked at one institution for 5 months and then transferred to another institute. I got form 16 from my first institute of 5 months and second institute issued me Form 16 for the entire year(including previous 5 months also). My salary from first institution was a proximately 6 lakh and from 2nd institution was approximately 11 lakh. But my second institute issued me form 16 with amounting to 17 lakh (including 6 lacs from my previous institute). So due to this doubling of 6 lakh my taxpayer information summary on Income tax websites showing total salary as 23 lakhs instead of 17 lakh. Now kindly advise me what I should do before filing ITR?
Sir, in ITR2 form the car price we need to fill is which one 1. Only exshowroom price 2. ex showroom + 1% tcs price (which I have claimed when we have purchased the car). 3. Complete Onroad price(including rc, insurance and accessories cost)
Dear Sir.. Nice and valuable presentation. I would like to know 2things. 1. If total income is more than 50 lakh due to arrears of income will it be necessary to put Income n Liability as again next year onwards it will be less. 2. Which form to file ITR 1 or 2. Regards
Sir , for Individual whose income is 51lakh, why ITR is not giving the benefit of marginal benifit. Usig old tax regime. Your input will be highly appreciated on the matter.
Thank you Bhatiya sir. Can you please make a short or a full video on Loan against property and it's tax connotations. Thank you in advance sir. 🙏🙏🙏💐💐💐
Can we maintain balance sheet and assets and liabilities detail in ITR2? I know it is not mandatory, but can we include it for income less than 50lakhs?
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Respected Sir, So nice of you sir for clearly defined by you
Thank you Bhatiya Sir, I selute you for making informative videos in a very simple words so every person can easily understand..
You are most welcome.
Sir I have posted one query and if I want professional advice how can I do this
Hello Sir, thank you for detailed explanation.
One question: For the jewellery and bullion section, do we need to mention the amount of only the jewellery/gold bought by the taxpayer, or anything else which is gifted to the taxpayer by the family/friends during wedding as well?
well explained with clarity, thank you
You are welcome!
Is epf balance required to be reported in Schedule AL of I TR
Thanks, Sir from West- Bengal
I will be filling my ITR 4, I have reported my bank balance but do I need to disclose my assets like investments (Equity, Mutual Funds) and equipments?
which ITR to choose .when somebody getting income from REIT/INVIT and also salaried person
very helpful. I use to watch all your videos sir.
Glad to hear that
Hello Sir,
1. In movable asset under financial assets, for deposits do we need to include PPF balance also?
2. For bank accounts if it’s a joint account, who should report it primary or secondary holder or both? Also, there is a separate section for mentioning other bank account details, there also does both holders need to include bank details or just primary?
3. I get RSU and ESPP/ESOP shares from my company(MNC) which are listed on foreign exchange. I do declare them under Schedule FA already. Do I need to declare them in Schedule AL as well in “Shares and securities”? If yes, should it be the value as of 31st March in rupees of the stocks held at that time in account?
Sir, The issue that confuses me is on Several old Fds for decates kept of being renewed. In reporting do we have to report all the Fds we have still holding upto 31 march 2024. How to determine the original principal cost (Sch A & L in ITR) Indivudual.
For immovable asset bought from own money how to value
Under which head should EPF, PPF, Superannuation Fund Balance be reported a Salaried Individual with Total Income > Rs 50 L ?
Res sir I am a govt employee and I worked at one institution for 5 months and then transferred to another institute. I got form 16 from my first institute of 5 months and second institute issued me Form 16 for the entire year(including previous 5 months also). My salary from first institution was a proximately 6 lakh and from 2nd institution was approximately 11 lakh. But my second institute issued me form 16 with amounting to 17 lakh (including 6 lacs from my previous institute). So due to this doubling of 6 lakh my taxpayer information summary on Income tax websites showing total salary as 23 lakhs instead of 17 lakh. Now kindly advise me what I should do before filing ITR?
Sir, in ITR2 form the car price we need to fill is which one
1. Only exshowroom price
2. ex showroom + 1% tcs price (which I have claimed when we have purchased the car).
3. Complete Onroad price(including rc, insurance and accessories cost)
Sir,
Should I report nps, sovereign gold bonds, PPF balance , EPF balance in SH AL, if yes , then under which point of Al
You may disclose them under 'Financial Assets' heading as 'Shares & Securities'.
Dear Sir.. Nice and valuable presentation. I would like to know 2things.
1. If total income is more than 50 lakh due to arrears of income will it be necessary to put Income n Liability as again next year onwards it will be less.
2. Which form to file ITR 1 or 2.
Regards
Sir lic maturity ammount show krne ke liye 10,10 d option nhi aa rha exemption vale collum me
You may offer income in exempt income column.
Sir, should we declare pf and ppf balances??.. if yes is it under bank amount?
I don't think they should be so reported.
Sir , for Individual whose income is 51lakh, why ITR is not giving the benefit of marginal benifit. Usig old tax regime. Your input will be highly appreciated on the matter.
Thank you Bhatiya sir. Can you please make a short or a full video on Loan against property and it's tax connotations. Thank you in advance sir.
🙏🙏🙏💐💐💐
Thanks good discussion.
Welcome :)
Total income exceeds 50 lakh is for that particular year? Or from the start of job
For a particular year.
Can we maintain balance sheet and assets and liabilities detail in ITR2? I know it is not mandatory, but can we include it for income less than 50lakhs?
Thank you!
Sir what is total income. Does that mean total taxable income?
Prima facie yes.
@@CAAnoopBhatia sir thank you so much. Sir could you please answer my question related to car details as well. Would be grateful. Thank you
Thank you Sir, it was very informative.
Welcome.