Fire your tax related queries and i would get it solved!!!

Are you able to understand the replies and act accordingly to this thread ??

  • Yes, able to understand BUT NOT able to take suggested course

    Votes: 0 0.0%
  • Somewhat able to take desicions, BUT seek professional help in my area

    Votes: 0 0.0%
  • Find it tough to understand the replies hence always seek other professional help

    Votes: 0 0.0%
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  • Total voters
    4
  • Poll closed .

Romeo1998

Well-Known Member
1 week back i had filed a family member's ITR-1.... everything was working fine... i was quite happy :DD par last me e-verify hi nahi ho rha he :pompus::DD:DD:DD aadhaar method not working, net banking not working, atm method not working... koi otp de hi nahi rha :pompus::DD:DD:DD 120 days me verify karna he.... i will wait for 1 more month... then last option is to take printout n courier to bangalore :pompus::DD:DD:DD never faced such silly problems before :pompus::pompus::pompus:
 

Romeo1998

Well-Known Member
How the amount received by way of nomination (being nominee of a bank account/bank FD) is treated, for tax purpose.

- as taxable income
or
- gift (non taxable, if from specified relatives)
no, it is not taxable....
principal amount received by you as nominee is not taxable ... income received by way of will or inheritance is not taxable... only interest earned is taxable..... interest earned before date of demise will be taxed to the deceased.... and if FD was continued, then interest earned after the date of demise will be taxed to the nominee.... :)
 

brokenbull

Well-Known Member
1 week back i had filed a family member's ITR-1.... everything was working fine... i was quite happy :DD par last me e-verify hi nahi ho rha he :pompus::DD:DD:DD aadhaar method not working, net banking not working, atm method not working... koi otp de hi nahi rha :pompus::DD:DD:DD 120 days me verify karna he.... i will wait for 1 more month... then last option is to take printout n courier to bangalore :pompus::DD:DD:DD never faced such silly problems before :pompus::pompus::pompus:
Till last year (AY20-21) I have always self filed ITR-1 online but always sent ITR-5 by speedpost to CPC Bangalore.
In 2 weeks you get sms /mail that filing recieved & return processed usually in 2-3 weeks. last year it took a month to process.
For FY2020-21 ,I have to file ITR-3 with tax audit (Iam in speculation only since April 2020) with 2 brokerage accounts with lot of commodity futures trades& currency trades. Yet to find an auditor who specialisein filing for speculators. Sep2021 may be postpones as IT dept have no working site yet.
 

Raj232

Well-Known Member
Till last year (AY20-21) I have always self filed ITR-1 online but always sent ITR-5 by speedpost to CPC Bangalore.
In 2 weeks you get sms /mail that filing recieved & return processed usually in 2-3 weeks. last year it took a month to process.
For FY2020-21 ,I have to file ITR-3 with tax audit (Iam in speculation only since April 2020) with 2 brokerage accounts with lot of commodity futures trades& currency trades. Yet to find an auditor who specialisein filing for speculators. Sep2021 may be postpones as IT dept have no working site yet.
You can try taxdesign dot in or eztax dot in. EzTax charges flat 10 K for FNO Tax audit. But check them out as I have not worked with either of them.
 
Last edited:
Do you have to file separate taxes for deceased person or does the income get added to the legal heirs income? Also what to do in cases where money was paid but is later taken back or arrears which were paid for past years etc.? Anyone, thoda help kar do please, if someone knows... I'll give all details as required.
(I'll update whatever info I get from other people and sources as well)
 
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canikhil

Well-Known Member
Till last year (AY20-21) I have always self filed ITR-1 online but always sent ITR-5 by speedpost to CPC Bangalore.
In 2 weeks you get sms /mail that filing recieved & return processed usually in 2-3 weeks. last year it took a month to process.
For FY2020-21 ,I have to file ITR-3 with tax audit (Iam in speculation only since April 2020) with 2 brokerage accounts with lot of commodity futures trades& currency trades. Yet to find an auditor who specialisein filing for speculators. Sep2021 may be postpones as IT dept have no working site yet.
can help. reach me at [email protected]
 

canikhil

Well-Known Member
Do you have to file separate taxes for deceased person or does the income get added to the legal heirs income? Also what to do in cases where money was paid but is later taken back or arrears which were paid for past years etc.? Anyone, thoda help kar do please, if someone knows... I'll give all details as required.
(I'll update whatever info I get from other people and sources as well)
can you message the details. would need a item specific tax calculation here. as such for the incomes already accrued in the name of deceased person, the taxability will have to be discharged by the legal heir (generally only one person, even if there are more people legally considered as heirs).
 

brokenbull

Well-Known Member
Noted.
I assume you are an accredited auditor who can sign the ITR-3 tax audit balance sheet & P&L account & file Itr3 with "trading as a business" (intraday stocks,STCG stocks & commodity & currency fututre trades& very few equity index & equity option trades) but just break even (less than 6% proft threshold)
so Filing ITR3 with tax audit atleast can recover some STT/IGST on intraday trades +small expenses to run the so called business & can afford to pay you.
will contact you soon.
 
Do you have to file separate taxes for deceased person or does the income get added to the legal heirs income? Also what to do in cases where money was paid but is later taken back or arrears which were paid for past years etc.? Anyone, thoda help kar do please, if someone knows... I'll give all details as required.
(I'll update whatever info I get from other people and sources as well)
2 years back I filed separately under the deceased person's name but you can file the return using your login ID. You need to register as legal heir. Upload legal heir PAN and another proof like a FD joint account. Not too complicated.

Don't know about the second part of the question.
 

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