[virgopal]

Originally Posted by binand

That amount of extra income doesn't change the tax for my wife.

Even then,there will be a mis match between her 26AS statement and the bank FD interest.If you have already e-filed her returns,revised return can be filed including the same.

[binand]

Originally Posted by virgopal

Even then,there will be a mis match between her 26AS statement and the bank FD interest.If you have already e-filed her returns,revised return can be filed including the same.

There won't be, because the bank hasn't deducted TDS (below the 10K threshold). Her 26AS is empty as a matter of fact.

[diogo]

Question:
Do I need to show an overdraft loan taken from the bank in my ITR?
This is not for housing purpose.

[binand]

Originally Posted by diogo

Do I need to show an overdraft loan taken from the bank in my ITR?

If you have income above 50L, and this was outstanding on 31/3, then I reckon you need to show it as a liability in schedule AL. Otherwise I don't think you have to bother.

[diogo]

Originally Posted by binand

If you have income above 50L, and this was outstanding on 31/3, then I reckon you need to show it as a liability in schedule AL. Otherwise I don't think you have to bother.

Understood. Thanks
I have taken this loan couple of months back so I have to worry about it only next year I suppose.

[pramodkumar]

Has anyone received their refund? I had received my refund last year by the first week of Aug. Just wanted to know if we will be harassed like the GST refunds.

Pramod

[dailydriver]

Originally Posted by pramodkumar

Has anyone received their refund?

Many in my official circle have. Mine too was credited day before yesterday, exactly ten days after I received the Your return has been processed message and mail. However, a significant number of colleagues who had filed their returns much earlier to me are yet to receive even the return processed message.

The return filed to refund credited duration was nearly a month in my case.

[pramodkumar]

Originally Posted by dailydriver

Many in my official circle have. Mine too was credited day before yesterday, exactly ten days after I received the Your return has been processed message and mail. However, a significant number of colleagues who had filed their returns much earlier to me are yet to receive even the return processed message.

The return filed to refund credited duration was nearly a month in my case.

My Returns were filled on the 26th of june 2018.

pramod

[Rodie09]

Friends,
I made a goof up in filing my ITR - was doing it for the first time myself. Searched for help on the net but realized later what else better than our esteemed forum of experts to look for help.

So here it is:
I filed ITR1 last weekend like every year but it seems I should have filed ITR2 this year, owing to the 2 small property units I have as deemed rented. I learnt that ITR 1 is only for income from 1 property.

Of course, my total tax outflow remains unchanged and I have considered all additional income as well - no LTCG either. As of now the income from house properties is a net loss capped at 2 lacs because of the interest payments on 2 loans.

So, what do I do now? Do I need a revised submission and if Yes, whats the process?

Thanks in advance!!

[PGA]

It isn't a big problem, download ITR 2 fill it up as revised. You will need to mention about revision at two places, first on part A General tab and second time during uploading.

[Rodie09]

Originally Posted by PGA

It isn't a big problem, download ITR 2 fill it up as revised. You will need to mention about revision at two places, first on part A General tab and second time during uploading.

Thanks a lot PGA for the quick response - surprisingly no online submission for ITR2, its only xml upload option. Not a big deal though.

Thanks again!

[binand]

Originally Posted by Rodie09

surprisingly no online submission for ITR2, its only xml upload option.

That can't be right. I submitted online my ITR-2 a couple weeks back.

[virgopal]

Originally Posted by pramodkumar

Has anyone received their refund? I had received my refund last year by the first week of Aug. Just wanted to know if we will be harassed like the GST refunds.

Pramod

ITR1 got processed and refund received into Bank A/c on July 3rd week..Had efiled on 27 June 18.

[govigov]

Can experts help me with 2 questions?

I have an HRA section in payslip, but did not do proof submission. So, form 16 does not have HRA section. Do I have to deduct the rent I paid under section 80GG or exempt income under section 10(13A)?

The company pays a conveyance allowance of 19,200 (1,600 * 12) for commuting. Now, in the ITR-1 form, there are 2 of them, 10(14)(i) AND 10(14)(ii), which one of these should I be using? I think it is section 10(14)(ii) based on the reading/research that I have done online, but not sure.

The first question is a total googly. :/

[aravind.anand]

Originally Posted by govigov

Can experts help me with 2 questions?

I have an HRA section in payslip, but did not do proof submission. So, form 16 does not have HRA section. Do I have to deduct the rent I paid under section 80GG or exempt income under section 10(13A)?

AFAIK, Section 80GG is for claiming return for house rent paid, when the employer has not provided a HRA option. But in your case it was more like there was a provision, but you did not avail it, so declaring that under 80GG might fetch a notice as soon as you file your return.