In the absence of details, we shall not be in a position to guide you as to the inclusion of the quantity of refund in the pre-filled kind.
By Chirag Nangia
I am a seafarer. I had completed my Non-Resident External account days for the duration of FY2019-20. I received my salary in my NRE account. Which ITR kind must I file to claim TDS deducted from NRO account? —Vagesh Chhabra Non-residents, not obtaining revenue from organization or profession, could declare India-sourced revenue in ITR-2. Any excess of TDS more than the final tax liability shall be refunded by the revenue tax division following processing the return.
I am a typical ITR filer. In 2018-19, I sold a flat for Rs 72 lakh. The purchaser deducted TDS of Rs 72,000 and it is reflecting in my ITR. As the house was sold for loss following indexation, the IT division refunded this quantity. AY2020-21 prefilled ITR2 kind shows the IT return inclusive of this TDS quantity. My total revenue will improve for the reason that of the refund. Is this right? Or can I show this quantity as carry forward loss? —Ramadoss Sekar Chandrasekaran In the absence of details, we shall not be in a position to guide you as to the inclusion of the quantity of refund in the pre-filled kind. However, note that the pre-filled ITRs have been supplied by the I-T Department to make filing less difficult for taxpayers. The exact same could not be error-totally free. One should match all particulars of revenue, exemptions, and so forth. with the actual info and make corrections, if any, just before submission of ITR kind. Seek the services of a tax practitioner to make certain that right particulars are submitted to the division.
How can I get tax added benefits on education loans for my son’s greater education abroad? —A K Pandey As per Section 80E, any individual taking loan from any monetary institution or authorized charitable institution for pursuing greater education, no matter whether in India or abroad, can claim deduction equivalent to the whole quantity of interest paid on the borrowed sum for a consecutive period of eight years, starting from the assessment year in which the person has began paying the interest on loan or till the assessment year in which the interest is paid by the person in complete, whichever is earlier. The loan can be taken for the education of self, spouse, kids or the student for whom the person is the legal guardian.
The writer is director, Nangia Andersen India. Send your queries to