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Samkit Maniar |44 Answers |Ask -Follow

Tax Expert - Answered on Feb 05, 2024

CA Samkit Maniar has eight years of experience in income tax, mergers and acquisitions and estate planning.
He has graduated from Mumbai’s N M College of Commerce and Economics and has completed his CA from The Institute of Chartered Accountants of India."... more

Question by Ravi on Feb 05, 2024Hindi

Money

Hello Samkit, I have retired from Govt. PSU service during Oct.2022 and had filed my ITR (Form 1) for FY 2022-23. For FY 2023-24, will there be any change in filing of returns or do I file in Form 1 itself which includes present employer salary, FD / SB interest and dividends. Secondly, from the buyback of shares by a company, which I am holding, the profit (purchase price less buyback price after brokerage, if any), do I need to account through Form 1 itself or do I need to change to other form in which this profit, present employer salary, FD / SB interest and dividends to be accounted. Kindly advice. Ravi Shankar

Ans: You may continue in the form 1 itself. You need to show the buyback amount under the head exempt income in the form.

Please take assistance of your CA on this.

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.

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Dear Mr. Mihir, I was working for a private company and retired on superannuation in November 2022. Thereafter, I was engaged by the company as a consultant to complete some pending project. Therefore during the financial year 2022-23, I have salary income from the company and also some amount the company paid to me for professional services for my consultant services after retirement. Which ITR form should I use, ITR-2 or ITR-3? Regards

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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.

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