8/12/2019 SSTC Circular

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SWAMI SAMARTH TAX CONSULTANTS

Postal Address : P.B. 1529, Wanowrie, Pune 411040.

Office Address : Flat No. 19, (FF), Jyoti Vihar, Jambhulkar Chowk, Wanowrie Gaon, Pune 411040.

Telefax : 020 - 2685 2179, 2685 6488, Mobile :9420281872

Email : swamitax19@gmail.com, Web page : www.sstcpune.com

Timing : ( Mon. to Sat. ) 10.00 a. m. to 1.00 p.m. & 4.00 p.m. to 8.30 p. m.

Ref. No.-SSTC/GNL/2014-15 Date : 18 / 4 / 2011

Last Date of Filing of Salary IT INCOME TAX Return is 31st of July

Sub : Filing of Income tax Return for FY 2013-14 (AY 2014-15)

NB :- A) Without E-mail ID, Mobile No. PAN Card Xerox, Blank cheque Xerox & our fees return will

not be filed on line.

B) Send Information Sheet duly filled correctly (Attached) or Download from pdf file of our webpage.

C) Please visit our web page - www.sstcpune.com befor giving call for any queries (Read FAQs)

1) Fees Rs. 600/- (Rupees Six Hundred Only) in cash/ Through multicity Cheque or direct credit to

our A/c Swami Samarth Tax Consulltant - A/c No. 11118967021, MICR Code - 411002009, IFSC Code

- SBIN0007433-SBI, Golibar Maidan, Pune Cantt Branch Pune. (Without fees in advance return will

not be filled) Send counterfoil of transfer of fees as proof of payment made.

2) Send Information Sheet duly filled correctly (Attached) or Download from pdf file of our webpage.

3) Form- 16 for FY 2013-14 - You will get from the site of PCDA (O) Pune or Form - 26 AS Annual Tax

Statement u/s 203AA for FY 2013-14 (AY 2014-15). Download from E-banking site, nsdl or Income Tax

Department Site.

4) Pension Certificate Form-16 from Bank (If Retired) If pension certificate then Pl obtains TAN No. of the bank

from which you receives the pension.

5) Details of Bankers Correct A/c No. & MICR Code. (please give blank cheque Xerox for details)

6) Housing loan certificate for FY 2013-14, (if applicable) with detail address of house and its status Vacant /

Self occupid or rented (Name of the Tenant & his PAN No., If Rented )

7) Any proof of savings such as LIC, NSC, PPF, Donation Receipt with PAN of the Donee.

8) Income from other sources such as interest on FDs if so Form-16A from bank Download Form - 26 AS

Annual Tax Statement u/s 203AA for FY 2013-14 (AY 2014-15). Download from E-banking site, nsdl or Income

Tax Department Site.

9) Clear Copy of Challan if Advance Tax / Self Asstt Tax is paid by you in FY 2013-14 (BSR Code, Challan

Sr. No. Date & Amount)

On Recipt of your above quoted documents / Papers - Income Tax return will be be filed online

or E-filing with CPC Centre, Bengaluru & ITR-V will be sent to you which you will have to send

the Acknowledgement or IRT-V duly signed in blue ink without any attachment or covering letter

etc. to CPC, centre, Bengaluru (Karnataka) within 120 days by ordinary post or speed post only.

If you miss this vital step, your return will be treated as not filed.

Any further query about receipt of Ack or ITR-V etc you will contact Ayakar Sampark Kendra on Toll free

No. 1800 4250 0025, 1800 180 1961, 080-25186901 or 0124-2438000 & email ask@incometaxindia.gov.in.

For refund status please visit Income Tax site www.incometaxindia.gov.in Go to the status of refund;

feed your PAN No. and A.Y. Refund of IT query on Toll free Tel No. 1800 425 2229 or 080-22546500.

Thanking you,

Yours Faithfully,For Swami Samarth Tax Consultants

Imp. Notes: 1) PCDA (O) work will not be undertaken and no liason will be made with that office.2) Quote your PCDA (O) A/c No. and change of Address etc. invariably on all Letters / Emails

/ SMS addressed to us to expediate action.

3) Inform your change of unit address through email/sms.

Kindly visit our web page : www.sstcpune.com

8/12/2019 SSTC Circular

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INCOME TOTALLY EXEMPT FROM INCOME - TAX

d Agriculture income : Who is having income only from Agriculture e.g. Farmers. d LTC [Leave Travel Concession]dDeath-Cum Retirement Gratuity. d Commutation of pension. d Encashment of leave. d Payment of AGIF.d Sum received under LIC Policy. d Any payment from provided fund e.g. DSOP/PPF/GPF d HAUCA / SCCIA, etc.d Armed Forced Windows Pension exempt u/s 10 (19). d Pension exempt u/s 10 (18) if individual is awardedParam Vir Chakra, Maha Vir Chakara or Vir Charkra Sena Medal. /Disability Pension.

(Up to Rs. 2,20,000/- = Nil (Whose incomeis below Rs. 5 Lakh) for AY 2014-15

1. No Tax on Income upto Rs. 2,00,000/-

(Whose income is above Rs. 5 Lakh)

2. Exempt Income for Senior Cit izen is

Rs. 2,50,000/- ( Age above 60 years ).

3. Exempt Income for very Senior Citizen is

Rs. 5,00,000/- ( Age above 80 years ).

4. Following deductions are continued

i. Interest paid on Hsg. loan for Vacant or

Let out / Self Occupied House Property.

ii. Rebate u/s 80D, 80DD, 80DDB, 80G, 80E& 80U.

5. Short Term capital gain Tax now 15% on

sale of shares / M. Funds within 12 months.

36 months in the case of sale of

immovable properties @30%

DEDUCTIONS ( i.e. Rebate ) FROM GROSS TOTAL INCOMEREBATE U/S 80 C Rs. 1,00,000/- + u/s 80CCG Rs. 50,000/-

dPension Plan / LIC ICICI Prudential d DSOP d AGIF d AOBF

d Repayment of Housing loan Principal of HDFC / Govt./ Bank

d LIC d NSC Interest d Home Loan A/C d Mutual Fund (ELSS)

d ULIP d NSS d Public Provident Fund d Tuition Fees etc.

d Sr. citizen saving scheme deposits RDs in Po, FDs in Bank. (Inthe limit of Rs. 1,00,000/-).

d u/s 80CCG Rs. 50,000/- in RGESS can be invested if income

is below Rs. 12,00,000/- Rebate allowed for 3 Succeeding

Assessment years.

a) 80 D

Mediclaim - Medical Insurance Premium- Rs. 15,000/- + 20,000/- for

Sr citizen parents.

b) 80 DD

Medical treatmetn of handicap dependent/ relative (with proof of

expenditure or declaration of expenditure ). Rs. 50,000/- for disability

more than 40% and Rs. 1,00,000/- for disability more than 80%.c) 80 DDB

Deductionin r/o medical treatment for himself or dependent relatives

Rs. 40,000/- Medical Certificate must be in prescribed Form No. 10 I

(from doctor registered iwth IMA with Post Graduate Qualification),

(with proof of expenditure/ or declaration of expenditure). Dependent

Relative if Senior Citizen rebate allowed is Rs. 60,000/-

d) 80 E

Deductions in respect of loan taken from financial institute for higher

education on repayment of interest only, on such loan can be

claimed for next 8 years. The deduction is allowable to parent /

guardian of the assess also.

e) 80 G

Deduction for donations - 100% in Prime Minister fund, & National

Childrens Fund,10% of the gross total income as reduced by

deduction permissible & 50% of qualifying donations in other

donations.

f) 80 U

Deductions in the case of permanent Physical Disabil ity

(Assessee himself) prescribed in Rule 11 D of Income Tax Rules

for disability more than 40% Rs. 50,000/- and for disability more

than 80% Rs. 1,00,000/- Rebate allowed to Austim, Cerebral Palsy

or Multiple Disability also.

g) 80 TTA

Interest on saving Banka A/cs Banks & Post off ices upto

Rs. 10,000/- exempt from IT.

h) 10 (13 A)

Any allowance granted to an assessee by his employer to meet

expenditure atually incurred on payment of rent in respect of

residential accomodation occupied by the assessee.

The provision of section 10 (13A) shall not apply in case the

residential accommodation occupied by the assessee is owned

by him or the assessee has not actually incurred expenditure on

payment of rent. Assessee should not have his Own House in the

same city

HOUSE PROPERTY

NOTE :

Rebate in repayment of Housing loan interest

& principal allowed after actual completion

possession of house only.

I) VACANT / SELF OCCUPIED

Deduction u/s 23 (i) shall be allowed except

in r/o interest paid to Govt. / LIC / HDFC /

AGIF / Bank / not exceeding Rs. 30,000/-,

Rs. 75,000/-, Rs. 1,00,000/- & Rs. 1,50,000/-

or actually paid whichever is less.

Rs. 2,50,000/- interest is applicable only on

loans taken to acquire or construct a

house after 1st April, 2013.

II) LET-OUT

a. Please furnish detail address of houseproperty.

b. Completion Certificate/ handing taking

over certificate.

c. Municipal Tax/ Insurance / Ground Rent

Receipts

d. Name of the Tenant & PAN No.

e. Pre-emi interest paid to HDFC / AGIF /

Bank / LIC etc. (Before Possession)

f. Housing loan certificate to claim rebate

u/s 80 C and u/s 24 the particular F.Y.

Received from HDFC / AGIF / Bank / LICetc. (Yearly)

III) IF MORE THAN ONE HOUSE PROPERTY

If you own more than one house property

and both or more the properties are self

occupied (vacant) due to the officer has to

reside elsewhere by reason of his

employment. One property can be treated

as Self occupied / vacant and the other

has to be offered for taxation while

showing Rented out, still it is vacant &

notional rent (Municipal Corporation letable

value) is to be offered as rent receivable

for taxation.

Vist our web page - www.sstcpune.com (Read FAQS)