Doing a good job, helping people indirectly. Video is very much informative and i am little knowledge of this deductions and stuff, but you covered everything in this video. You have explained so very well. Thanks you
I'm 6 YoE'ed and have been paying approx 10 Lacs a year in taxes and never knew how it was calculated until recently when I fumbled on to this video. Thank you so much for such a detailed explanation. I'm going through your other videos for in-depth understanding.
Duniya bhar ki video dekhi hai, aapki pahli video hai jo mujhe kaafi had tak samajh aayi hai. Thank you, "subscribed". Kya aap LTA claim pe dedicated video bana k aur simple terms me samjha sakte hain? Wo kaise kya claim karte hain samajh nahi aata. Thanks
Very informative! One quick (probably stupid) question : 1. I've heard some people say that FY is the year in which we earn, while the AY (next year) is the one in which the taxes are paid. Is this statement wrong? 2. For a particular financial year, which investments are considered for tax deductions, the investments done in the same year or the investments done in the previous year? The reason I'm asking is that, for an FY say 22-23, the assessment is done in 23-24, but tax is already deducted (on monthly basis) in 22-23.
Good Question..Really appreciate the detailed query. The financial year is in which you do the investments to save taxes on income earned in that year. The assessment of this year is done in the preceding year, that's why next year is called assessment year.
I work as HR in a company. An employee has submitted his investment proof. But am assuming that it is a fake document. How to prove that it is fake or not pls suggest.
Hello Mam, thanks for the usefeul video. I have a query regarding PPF proof. My PPF amount is deducting on monthly via ECS. What proof needs to be provided for PPF ?
Gross Salary ke kya kya compenents hai please bataye Mai phli bar tax declara krna.haiu Mere offer lette me basic pay and flex compensation component hai with pf deduction. So Gross Salary kaise calculate kru???
For Temporary Disability, the certificate will be valid for the period starting from the assessment year to the previous year during which the certificate was issued and ending with the assessment year relevant to the previous year during which the validity of the certificate expires. You can check this link for more information. www.indiafilings.com/section-80dd-deduction
Ma'am thank you One question tha jab hum 2023 December mai investment proof submit karna hai usme konse year ka proof ayega (financial year). 2022-2023 ya fir 2023-2024.
What happens if I submit less income proof than what I declared? Is that amount included in taxable income as normal amount or more TDS will cut please let me know mam?
Hello what if we don't come in tax slab? Because my income is below 7lpa and i am new tax regime And i have invested some amount in stocks and got just 500rs profit. Should i show this in investment proofs or I don't have to do anything since I don't come in tacx slab
Hi ma'am, I have submitted investment proof on 1st Feb more then the amount what is declared initial of the year, So since tax has been deducted more in previous months , now in Feb and March month my tax will be deducted less ?
Hi.. My tax slab comes between 10-12p/a and I have declared HRA which is below 1lakh, do I have to submit proof of investment in this case in new regime?
mam, i made a mistake . i have declared very less amount & i dont have NPS, LIC etc . abhi mere office main proof submission windows close ho chuka hai , can i take help of an CA & do the needful before ITR filing date ??
If your question is related to Jan, Feb and March, then you can do a future Declaration for House Rent. Although with respect to investments, you need to show it while filing ITR
Very nice sharing IT knowledge such beautifully
For a layman like me this is a complete video.
Thanks for the wonderful video!
Thank you
Doing a good job, helping people indirectly.
Video is very much informative and i am little knowledge of this deductions and stuff, but you covered everything in this video.
You have explained so very well. Thanks you
Thank you
Your video is so simple and easy to understand. God bless you. ❤
Thank you
I'm 6 YoE'ed and have been paying approx 10 Lacs a year in taxes and never knew how it was calculated until recently when I fumbled on to this video. Thank you so much for such a detailed explanation. I'm going through your other videos for in-depth understanding.
That's Great.. Thank you
What do you do😂
Thanks priya for detail information on Income tax declaration
I must say....this is Very very nice informative video ma'am...thank you!
Thank you
Ur info is very clear thanks❤
You're welcome 😊
Duniya bhar ki video dekhi hai, aapki pahli video hai jo mujhe kaafi had tak samajh aayi hai. Thank you, "subscribed". Kya aap LTA claim pe dedicated video bana k aur simple terms me samjha sakte hain? Wo kaise kya claim karte hain samajh nahi aata. Thanks
Thank you
thanks a lot!!
Thank you for such a gud explaination.
Thank You
It's very informative videos.. Good luck ma'am
Thanks a lot
Very informative! One quick (probably stupid) question :
1. I've heard some people say that FY is the year in which we earn, while the AY (next year) is the one in which the taxes are paid. Is this statement wrong?
2. For a particular financial year, which investments are considered for tax deductions, the investments done in the same year or the investments done in the previous year? The reason I'm asking is that, for an FY say 22-23, the assessment is done in 23-24, but tax is already deducted (on monthly basis) in 22-23.
Good Question..Really appreciate the detailed query. The financial year is in which you do the investments to save taxes on income earned in that year. The assessment of this year is done in the preceding year, that's why next year is called assessment year.
Totally understood! The numbers do add up now! Thank you so much for your reply!
Can you explain other sections declarations? like you explained 80C.
How to declare future Rent for JAN FEB MARCH 24
I work as HR in a company. An employee has submitted his investment proof. But am assuming that it is a fake document. How to prove that it is fake or not pls suggest.
How to submit the Housing loan interest certificate explain with loan category
If we are paying 1lac rs to our parents for HRA. How can we get agreement for that? Please suggest
Yeah, you can get a rental agreement mentioning your parents name on it.
Hello Mam, thanks for the usefeul video. I have a query regarding PPF proof. My PPF amount is deducting on monthly via ECS. What proof needs to be provided for PPF ?
You can download the annual statement and submit as proof
Gross Salary ke kya kya compenents hai please bataye Mai phli bar tax declara krna.haiu
Mere offer lette me basic pay and flex compensation component hai with pf deduction.
So Gross Salary kaise calculate kru???
You can check this video for details: ruclips.net/video/vm17xyNuf1w/видео.html
HRA proofs not submitted to employer. While ITR filing want to avail HRA claim. What avout proofs submission while ITR filing?
Proof are not submitted during ITR filing. Just keep them if any query comes from IT department.
Hi Mam, hope you are well. For dependent, do we need to submit the proof every time and get new signatory from govt hospital every year?
For Temporary Disability, the certificate will be valid for the period starting from the assessment year to the previous year during which the certificate was issued and ending with the assessment year relevant to the previous year during which the validity of the certificate expires. You can check this link for more information. www.indiafilings.com/section-80dd-deduction
What if we miss out on declaring our investments to our current company? Then what happens?
If you don't declare during the beginning of the financial year, then your taxable income will not reduce. Due to this, you will be paying high taxes.
I miss to provide declaration proof, is there any way to save tax deduction from feb & march salary
You can only claim them while filing ITR
How much amount we can invest at a time in the fixed diposit for 5 yrs
There is no such limit on deposit amount. Although, under sec80C, you can claim max deduction of 1.5 Lac only.
Ma'am thank you
One question tha jab hum 2023 December mai investment proof submit karna hai usme konse year ka proof ayega (financial year). 2022-2023 ya fir 2023-2024.
Same year ayega which is Financial Year 2023-24
Thank you
Ma'am fir to mai april2023 to December2023 tak ka hi proof submit kar pavugaa.
What happens if I submit less income proof than what I declared? Is that amount included in taxable income as normal amount or more TDS will cut please let me know mam?
In that case, taxable income will increase and TDS will be calculated based on the taxable amount.
Hi mam
I invested on 31 st March 2024 in nps and elss. can I show in last year ITR proofs ?.
you can download the investment statement and check the date of transaction. if it shows 31st, then you can use it as proof.
Hello what if we don't come in tax slab? Because my income is below 7lpa and i am new tax regime And i have invested some amount in stocks and got just 500rs profit. Should i show this in investment proofs or I don't have to do anything since I don't come in tacx slab
You need not to do anything
Hi ma'am,
I have submitted investment proof on 1st Feb more then the amount what is declared initial of the year,
So since tax has been deducted more in previous months , now in Feb and March month my tax will be deducted less ?
Mostly it should be calculated based on your actual proofs. Although it is dependent on your company as well
Hi.. My tax slab comes between 10-12p/a and I have declared HRA which is below 1lakh, do I have to submit proof of investment in this case in new regime?
HRA Exemption not available in new regime
If you opted for new regime , what proof do we need to submit
You need not to submit any proofs
mam, i made a mistake . i have declared very less amount & i dont have NPS, LIC etc . abhi mere office main proof submission windows close ho chuka hai , can i take help of an CA & do the needful before ITR filing date ??
You can do Tax Saving Investments before March end and claim return while filling ITR
is it true if I pay rent less than 100,000 then there is no need to submit any rent agreement and rent receipt to claim HRA? please suggest
Check with your organisation, what is their policy
I only have proofs till December 2023. Do I need to submit the proof for every month or just last 3 month proofs are enough?
If your question is related to Jan, Feb and March, then you can do a future Declaration for House Rent. Although with respect to investments, you need to show it while filing ITR
Rent receipt jo hai wo kis duration ki submit karni padti hai?
It depends on the month of investment proof submission. If you are submitting proofs in Dec, then you will need to submit till dec.
how to delete uploaded files in incometax proof submission?
You can check as per your organisation guidelines
'children' is the plural of 'child'!