Home > Money > Question

Sign In | Create an account

Language:

Now in हिन्दी too

Need Expert Advice?Our Gurus Can Help

Anil Rego |373 Answers |Ask -Follow

Financial Planner - Answered on Aug 27, 2021

Anil Rego is the founder of Right Horizons, a financial and wealth management firm. He has 20 years of experience in the field of personal finance.
He’s an expert in income tax and wealth management.
He has completed his CFA/MBA from the ICFAI Business School.... more

Question by Ekambaram on Aug 27, 2021Hindi

Money

26As for FY 20-21 displays MF dividend paid plus dividend distribution tax by MF companies wherein I have invested in many schemes. But the figures they have displayed do not actually tally with the dividend and DDT the companies have actually paid. What should I do while filing my ITR form -- display the correct amount under dividend and DDT or the amount displayed in the 26AS. I am a senior citizen aged 81.

Ans: You would need to contact the companies to rectify any errors in your 26AS.

If there is any difference in your tax filing vs 26AS, you would get a notice from the income department.

If the difference is very low, then you can decide whether you would like to pursue the case or go by the 26AS statement.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

MoneyReply

You may like to see similar questions and answers below

Anil Rego |373 Answers |Ask -Follow

Financial Planner - Answered on Dec 17, 2020

Question by Satish - Dec 17, 2020Hindi

Money

I am a 62-year-old singleton retiree living on interest income from my FD. Every year TDS used to get deducted from this interest income and I used to submit 16A form given by the bank to claim refund. I have also invested in Equity Mutual Funds from these interest amounts in different AMCs in the past few years, and though I used to do switches, I have NOT done any profit booking as there is no need for me to do so. Now my query is as per new ITR should I show the investments in these MFs too? Right now, the 26AS form only shows the TDS deducted.

Ans: You need to include short/long term capital gains/losses of mutual funds while filling your ITR, along with interest income.

Switches from one scheme to another will be treated as transfer under the IT act 1961 and will be subject to levy of capital gain tax, even if the gains are reinvested and not removed.

Whenever you switch or sell any mutual fund, you need show it as the sale value and compute the capital gain/loss by reducing the corresponding purchase value from the sale value.

The mutual fund capital gains will not show up in your 26AS statement, but still needs to be declared in your return.

Abhishek Dev |57 Answers |Ask -Follow

Financial Planner - Answered on Aug 02, 2023

Question by N - Jun 20, 2023Hindi

Money

Sir, I had invested in two MFs and I got divident of Rs 1.20 lakhs in one and Rs 55,000 in another. What is the amount I should show as income in my IT returns and what is the taxable amount I have to pay. Shall be thankful for your guidance.

Ans: You should show all the income and their sources in your IT returns. Since we do not know your complete portfolio and other holdings, estimating exact amount would be a problem. However, we suggest your consult your Chartered Accountant for any clarification.

Mihir Tanna |933 Answers |Ask -Follow

Tax Expert - Answered on Jul 07, 2023

Asked by Anonymous - Jun 20, 2023Hindi

Money

Dear Sir, I had two MF investments and after one and half year, I got Rs 1.20 and Rs 50,000 dividends respectively. How much income I should show in my IT returns and what is the amount of tax payable. Shall be grateful for your guidance.

Ans: Dividend income is taxable under the head Income from other sources. Tax rate will depend on total income and tax regime opt during the year.

Mihir Tanna |933 Answers |Ask -Follow

Tax Expert - Answered on Jul 08, 2024

Question by Chandran - Jul 02, 2024Hindi

Money

Sir, In Fy23-24 a company paid dividend after deducting due tax. The dividend amount before TDS is visible in AIS but not the TDS amount. On correspondence, the company sent me the statement pertaining to the said TDS in Form 16A. Now how to proceed further, is my query. If the amount is not appearing in AIS, will it create complications on ITR filing, I am worried. Are dividend figures auto-populated? If no, I can manually feed total of all figures. If yes, identifying this particular TDS among a dozen other Co TDSs become difficult. Please give me directions. Chandran

Ans: If TDS is deducted but not appearing in AIS, it is advisable to claim such TDS while filing ITR and intimate company to look into it (through e-mail/letter).

Mihir Tanna |933 Answers |Ask -Follow

Tax Expert - Answered on Jul 10, 2024

Question by Pm - Jul 09, 2024Hindi

Money

I have unclaimed dividend income for fy 23-24. While it is showing in my dividend section in AIS and TIS, it is also shown in AIS and TIS as, 'Sale of securities and mutual fund units, but the description in that is stating 'unclaimed dividend' So, in my ITR should I limit it to filling it in Dividend section or additionally mention it in Sale if securities and capital gains under 'capital gains' section

Ans: You have to show it as dividend income under income from other sources only. As description shows unclaimed dividend, no further action is required.

Latest Questions

Dr Dipankar Dutta |555 Answers |Ask -Follow

Tech Careers and Skill Development Expert - Answered on Sep 08, 2024

Question by Prakash - Sep 07, 2024Hindi

Career

My son joined 1st year EEE, what is the additional/parallel course available

Ans: He can do DS from IIT Madras. In NPTEL site many free courses are available. He can do any course best on his interest.

Dr Dipankar Dutta |555 Answers |Ask -Follow

Tech Careers and Skill Development Expert - Answered on Sep 08, 2024

Question by T - Sep 07, 2024Hindi

Career

Steps/tips/strategies to be follwed by a first year Engineering student till last year

Ans: What is your stream?

Dr Dipankar Dutta |555 Answers |Ask -Follow

Tech Careers and Skill Development Expert - Answered on Sep 08, 2024

Asked by Anonymous - Jun 19, 2024Hindi

Career

Dear sir, my son is getting EEE in Manipal Main campus and CSE in SRM main campus. What should we opt for. Please suggest.

Ans: Go for CSE in SRM Main Campus

Dr Dipankar Dutta |555 Answers |Ask -Follow

Tech Careers and Skill Development Expert - Answered on Sep 08, 2024

Question by Ashwin - Sep 07, 2024Hindi

Career

Sir ssn cse or vit cse or mrsit cse or bmsce cse which one to prefer

Ans: The order of preference is
VIT CSE
BMSCE CSE
SSN CSE
MSRIT CSE

Milind Vadjikar |62 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Sep 07, 2024

Question by Jijabrao - Nov 12, 2023Hindi

Money

I am meber of EPFO, DEC 1995 TO MARCH 1999 , THEN BREAK & AGAIN JOIN TO EPFO FROM 8 FEB 2006 TILL TODAY, & I HAVE GOT UAN NUMBER FROM FEB 2006 BUT FROM DEC 95 TO MARCH 1999 , THERE WAS NO PROVISON FOR UAN NUMBER, THEN HOW CAN MY LAST SERVICE ADD WITH PRESNT UAN NUMBER

Ans: You may have physical PF slips, documents from your employer which provide details of your EPF account during 1995 to 1999. If you have these records then you can visit EPFO and furnish application to link(merge) this account with your current UAN. They may need a letter from your employer during that phase, attesting the facts about your EPF account.

Milind Vadjikar |62 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Sep 07, 2024

Question by BASAVARAJ - Nov 12, 2023Hindi

Money

Epf pension calculated on last 60 months average salary or else the method epfo

Ans: Yes EPS pension is calculated based on average basic salary of previous 60 months and pensionable service period.

Based on a predetermined formula involving these two factors EPS pension is determined.

Milind Vadjikar |62 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Sep 07, 2024

Question by Nandkumar - Aug 06, 2024Hindi

Money

I am retired but working as Engineering Consultant. From consutancy I have got income of about Rs 4.00 Lakh. But I get Family pension of Rs 1600.00 per month . So can get standard deduction of Rs 50000.00 for FY 23-24

Milind Vadjikar |62 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Sep 07, 2024

Asked by Anonymous - Apr 23, 2024Hindi

Money

I had been working since 1984 to 2019.but there was no EPF facility till I worked 1990. From 1991 to 2001, EPF was there but no details are available with me..Company is also closed...How I will get epf benefit from this company.From the service of 2001 to 2019, now co. is asking pf slips from the emplyees. Theh have the details frm 2009 to 2019.. Please advise how i wll get all these documents Now iam retired too

Ans: Your case is peculiar. Plz. seek help from a lawyer specializing in labour laws/EPF regulations who could guide you to get your EPF money back.

Milind Vadjikar |62 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Sep 07, 2024

Question by Balachandran - Feb 25, 2024Hindi

Money

can loss under intraday trading set off with the profit in LTCG and STCG?

Milind Vadjikar |62 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Sep 07, 2024

Asked by Anonymous - Aug 14, 2024Hindi

Money

Sir, I had lost my Job during Covid Pandemic in the year 2020 and I had recently got all of my EPFO credited in my account for the last 10 years 6 months.. The EPF was being maintained by the Company's trust. I had asked the respective manager about my EPS(Pension) then he said that they only maintained the EPF amount and the EPS is maintained by the EPFO. Sir Can you tell me how can I access my EPS fund? Do I need any documents or prerequisites from the Company I last worked with or the company which maintained my EPF? Please provide me all the relevant information about my EPS amount and how can I withdraw it.

Ans: Since you worked for more then 10 years EPFO may not allow you to withdraw EPS. Depending on your age 50/58 you may be eligible to receive pension through EPS. Get the scheme certificate from your employer regarding EPS contributions. Have an active UAN linked to your Aadhar & Bank account so that you file claim for receiving EPS pension thru your assigned EPF office.

See more questions »

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

Video Reply
Audio Reply

WhatsApp
Facebook
Twitter
Copy link

Delete

Close

Dear User, You have not registered yet. Please register by filling the fields below to get expert answers from our Gurus

Sign up

email

uname

mobile no

Country Code

Mobile number

By signing up, you agree to our
Terms & Conditions and Privacy Policy

Already have an account?

LOGIN

x