Wonderful sir... One query kya retirement gratuity, commutation, Leave encashment ka jo money milta hai in case of retired central gs kya wo New tax regime mein b exempt hai?
@@vpstca sir last query advance tax and employer jo TDS deduct krta both are same or different n if different then advance tax kis cheez ka hota hai and kaha jakar pay Krna pdega?
Sir. Gpf withdraw karwaya hai. Retirement se ek sal pehle. . form no 16 me bhi show ni ho rha form 26 me bhi nai aur ais me bhi nai. Kahi show karna hai wo ya nai.
I received gratuity more than 1 lakh, it is not allowing me to add more than 99,999 in ITR1. I am private sector employee. How do I claim full amount in exemption?
@@vpstca Thankyou for useful information 🙏. Sir one more query...if I have retired on 31 Dec 22 then my form 16 from my employer has been received upto dec 22, what should I select in occupation CG or CG pensioners since for Jan and Feb 23 I have got pension as well. Please suggest 🙏
best informative video.sir pichhle FY 21-22 me kutchh tax profesionals ne apne customer sko fake deductions dilvayi thi to vo customers current FY 22-23 ke return me pichhli fake deduction na le aur sahi return file kare to purane aur naye itr filling me duduction me difference hone se it dept. se notice aa sakta hai kya!?bahoot se log confuse hai plz guide.thanks.second thing we want to know jo new tax regime recently 1 february ko finance minister ne budget me declare kiya hai(700000 taki income pe rebate ki vajah se tax nahi lagata vo regime )to vo fy 22-23 jis me return file karneki last date31july 2023hai vaha choose kar sakte hai ya next financial year fy 2023-24 se applicable hoga?Hoping to be favoured thanks
1. Rs 7 Lakh income in New tax regime will apply for FY 2023-24 I mean itr file in next yr by 31.07.2024 2. Can't say but yes wrong deductions and exemptions always create problems so never claim this if already done in past do nothing now
Leave encashment me 25 lac Tak show kar sakta hoon kya. Notification may me aya aur mera leave encashment February me hi cut kar ke de Diya toh maximum limit 3 lac hi show Kiya.
Agar Gratuity aur Commutation pe TDS nhi kata hey, Aur 26AS me bhi Gratuity & Commutation ke aage TDS, Zero dikha rha hey... To use ITR fill karate waqt dikhana jaroori he kya?
Agar retirement k saal pehle kuch amount for house repair withdraw kraeay ho. Aur form 26 me show nai kr raha ho. Na ho form 26 me nai hi ais me to kya kre. Konse section me fill kre
Sir i have a question sir mera 2 employer ha.. Basic hra and others allowance ha hame itr 2 fill kiya basic per basic, hra per hra and all allowance melake others per show kiya a kaya sahi he?
@@vpstca spf ka paisa taxable h???.... Gratuity, leave encashment and Comutated pension ka to point h... Ink sath SPF ka paisa h usko kahan show kren.... Kya SPF par tax lgega???
Sir GPF and GIS amount jo retirement pe receive hota hai usko Salary as per section 17(1) me add krna hota hai kya? Kyoki jb mai usko Exempt income me dikha rha hu under section10(11) and 10(10D) toh wo 17(1) ki salary me se exempt hue bina tax caculate kr rha hai. Isiliye mujhe lag rha hai, these 2 figures are only for information purpose and we should not add these in 17(1) salary. Please guide.
For the FY 22-23 i have filed my return in due time and e verified but i have to checked whether new regime is beneficial for me or not, which i found while submission of this year return, it will allow me for a huge return. Can i correct previous year returns regime, from old to new and claim my refunds.
सर, मैने रिटायर होनेसे १ साल पहिले नोकरी छोड दि है.मुझे २०२३-२४ मे EPF से ३०लाख PF वापस मिला है और कंपनीने १२५००० LEAVE ENCASHMENT मिली है. ओर gratuity ८लाख मिली है. अभी मै नोकरी नहीं करता हू. मैं कॉर्पोरेट मे काम करता था. अभी मुझे 23-24 का रिटर्न भरणा हैं मैं कौनसा ITR यूझ करू. मुझे उपर वाला deduction मिलेगा क्या? कृपया करके मुझे रिप्लाय दो
nice. but 1 query. i retired from state govt. service on 31/10/2023. i earned regular salary as employee upto oct. 2023 and pension for the rest of fy. 2023-24. what should i show in salary u/s 17(1).....salary+pension? please reply sir.
Sir, I understand from the video that GRATUITY, CVP and LEAVE ENCASHMENT are to be added in Salary u/s 17(1) and then claim exemptions under various subsections of sec. 10 from salary. But how do I show receipts from GPF and GISS?
I was in Central Govt. service up to December 2022 in Kolkata and received pension for Jan. & Feb.2023, now I am a Pensioner. What will be my Category CG-Pensioner and Sr. Citizen ? and how to the retirement benefits (i.e. Gratuity, Commuted Value & Leave salary encashed ) may be shown ? Please provide information.
Thank you! Sir if state govt employee is retired in May 2022, means has 3 months salary and 9 months pension. Then what to choose in nature of employment SG Pension or State Govt employee?
Ok. Thanks! Means in section 17(1) salary will be 3 months salary(which is shown by system, as available at IT dept. by 16A) plus 9 months pension. Am I right?
Thank you very much. Sir, I want to know is (a) Insurance money received during retirement & (b) Composite transfer grant received during retirement taxable or tax exempted income? In which column I will show these income? Please help me to know this so that i can fill ITR accordingly. Thanking you.
U can claim exemption of composite grant to the extent of actual expenses incurred on transfer but if the Amt paid by employer is more than the actual specified expense incurred the excess Amt shall be taxable as salary
VERY VIVIDLY EXPLAINED, SIR. BUT 1 QUERY. I HAVE RETIRED FROM STATE GOVT. SERVICE AND RECEIVED PROVIDENT FUND AND GISS. HOW TO SHOW THESE 2 AMOUNTS IN ITR1.....EXEMPT INCOME FOR REPORTING PURPOSE OR AS SALARY EXEMPTIONS FROM 17(1) ALONG WITH GRATUITY, CVP AND LEAVE ENCASHMENT?
You can show Provident Fund in Exempted income directly for reporting purpose only bcoz in Exempted income there is a separate option for this... You can check the video below
If I have income from Dividend from Mutual Fd. and Sold some units of mutual fund, which form should I use ? ITR-1 or ITR-2, may I get facility to get standard deduction of ₹50,000/- in ITR-2 form under old tax regime ?
namaskar sir , my cousin receiving army pension, now he is in DSC(defence security corps) second service. ? can we show pension in exemption in itr1? kindly give reply sir..
Very much useful video sir.
Insurance amount received and provideny fund ka amount while retirement kaha entry karenge
Please check this video
ua-cam.com/video/h4CmvzwM4XM/v-deo.htmlsi=SKWxHCPu3z7lwo07
@@vpstca
Means pension aane
par
gratuity and encash eak jagah or
Provident fund and insurance lum su amount alag jagah entry hoga am I right
@@SOLDIERMBAwala yes
When full exemption is allowed to central govt employee then why the error is showing in gratuity?
I also faced the same problem. Have you solved it? If so, please help me.
What about if any PF amount is received at the time of retirement?
Exempt
Sir kya me 2021 dec me jo gratiuty mili hai wo me ay 23 24 me dikha sakta hu kya
Yes file updated itr u/s 139(8a) for this
Wonderful sir...
One query kya retirement gratuity, commutation, Leave encashment ka jo money milta hai in case of retired central gs kya wo New tax regime mein b exempt hai?
Yes
@@vpstca sir last query advance tax and employer jo TDS deduct krta both are same or different n if different then advance tax kis cheez ka hota hai and kaha jakar pay Krna pdega?
Sir. Gpf withdraw karwaya hai. Retirement se ek sal pehle. . form no 16 me bhi show ni ho rha form 26 me bhi nai aur ais me bhi nai. Kahi show karna hai wo ya nai.
Don't worry first add this in gross total income and take exemption u/s 10
Nice information
Thanks
I received gratuity more than 1 lakh, it is not allowing me to add more than 99,999 in ITR1. I am private sector employee. How do I claim full amount in exemption?
Can you please tell me whether PF interest after retirement is fully taxable or there is any rebate.
Check this video for more clarity ua-cam.com/video/blsbNvd-qsg/v-deo.html
Si sum assured amount itr me dikhana pdta hai. Kone section me
No
New tax regime में पेंशन परिलाभ की rebate मिलती है क्या
No
Check this video for more clarity ua-cam.com/video/wQlnga0ao6U/v-deo.htmlsi=wJB-gu9Mg5v7URqE
Retirement benefits payment new tax regime me rebate allowed hai kya
Check this video ua-cam.com/video/wQlnga0ao6U/v-deo.htmlsi=G6qIZKL_wFZI2tj2
excellent
PF itr me dikhana padta hai?
Check dis video ua-cam.com/video/o4DGhAR8cwU/v-deo.html
GPF AMOUNT KAHA SHOW KRENGE
Check dis video ua-cam.com/video/o4DGhAR8cwU/v-deo.html
Sir how to show PF amount and group insurance money in this ITR
Check this video ua-cam.com/video/o4DGhAR8cwU/v-deo.html
@@vpstca Thankyou for useful information 🙏.
Sir one more query...if I have retired on 31 Dec 22 then my form 16 from my employer has been received upto dec 22, what should I select in occupation CG or CG pensioners since for Jan and Feb 23 I have got pension as well. Please suggest 🙏
@@RahulSharma-tw1qz select CG pensioners
@@vpstca Thanks a lot sir.
best informative video.sir pichhle FY 21-22 me kutchh tax profesionals ne apne customer sko fake deductions dilvayi thi to vo customers current FY 22-23 ke return me pichhli fake deduction na le aur sahi return file kare to purane aur naye itr filling me duduction me difference hone se it dept. se notice aa sakta hai kya!?bahoot se log confuse hai plz guide.thanks.second thing we want to know jo new tax regime recently 1 february ko finance minister ne budget me declare kiya hai(700000 taki income pe rebate ki vajah se tax nahi lagata vo regime )to vo fy 22-23 jis me return file karneki last date31july 2023hai vaha choose kar sakte hai ya next financial year fy 2023-24 se applicable hoga?Hoping to be favoured thanks
1. Rs 7 Lakh income in New tax regime will apply for FY 2023-24 I mean itr file in next yr by 31.07.2024
2. Can't say but yes wrong deductions and exemptions always create problems so never claim this if already done in past do nothing now
Nationalised bank employees are not govt employees... But commutation Amt is fully exempted. Where to show in itr
Chose 'Any other' in Exempted income and mention in description tab
agar job sa chod dena ka baad gratuity and leave salary mila toh kya karu
Pls check this video
ua-cam.com/video/jAv0bf5JAaQ/v-deo.htmlsi=Wdo0Arj--CDFlwVq
Pls check this video
ua-cam.com/video/f-k2jHaiPm8/v-deo.htmlsi=Wgcc0nRstAVpsJ08
GPF Amount section?
Pls check this video and choise statutory Provident fund received u/s 10(11)ua-cam.com/video/h4CmvzwM4XM/v-deo.htmlsi=IRmqiJehQmO5kf65
@@vpstca thank you so much sir for giving me information about GPF Amount section
GIS exemption section?
80c
If you receive arrears amount of gratuity and commutation for FY 19-20 in the FY 23-24 , then what to do
Take relief under section 89(1) and file form 10E
can you show gratuity with itr2?
Very busy schedule but still try
where we show the amount of gpf and cgegis received at the time or retirement ?
Check this video ua-cam.com/video/o4DGhAR8cwU/v-deo.html
@@vpstca already seen but you didn't cover it
@@dixamathpal fill figure in recognized pf bcoz GPF Is for govt employees
@@vpstca govt emp gpf amount ko kahan show kre
Leave encashment me 25 lac Tak show kar sakta hoon kya.
Notification may me aya aur mera leave encashment February me hi cut kar ke de Diya toh maximum limit 3 lac hi show Kiya.
Rs 25 Lakh limit for FY 2023-24 से है I mean it is applicable from 01 April 2023
Agar Gratuity aur Commutation pe TDS nhi kata hey,
Aur 26AS me bhi Gratuity & Commutation ke aage TDS, Zero dikha rha hey... To use ITR fill karate waqt dikhana jaroori he kya?
Yes
Sir 10 months ki aapne pension dikhai aur jo 2 months ki salary mili uska treatment kya hoga?
Wo bhi add karni hai
GPF withdrawal at the time of retirement for state govt employee is fully exempt in income tax or not ! if yes then in which section of income tax
Yes fully exempt u/s 10(12)
Agar retirement k saal pehle kuch amount for house repair withdraw kraeay ho. Aur form 26 me show nai kr raha ho. Na ho form 26 me nai hi ais me to kya kre. Konse section me fill kre
Sir i have a question sir mera 2 employer ha.. Basic hra and others allowance ha hame itr 2 fill kiya basic per basic, hra per hra and all allowance melake others per show kiya a kaya sahi he?
Yes no issues
How to show pf amount received on retirement in ITR 2
Video Link of ITR1 but like this video in itr 2 go in Exempted income and choose PF ua-cam.com/video/o4DGhAR8cwU/v-deo.html
How to show si clam amount received on retir cement in itr 1
Bank Pensonr which category
Private bank or Govt Bank or Name of bank?
Pl make video on itr2
Ok i will try
Is the Pension received from Employees providend fund is taxable if yes where we should show this income in the Income Tax return
Yes taxable as salary and shown in salary head
@@vpstca spf ka paisa taxable h???.... Gratuity, leave encashment and Comutated pension ka to point h... Ink sath SPF ka paisa h usko kahan show kren.... Kya SPF par tax lgega???
@@systemraosahab371 no tax on SPF and where to show Check this video ua-cam.com/video/o4DGhAR8cwU/v-deo.html
My father is govt retired bank employee.. In which place PF received amount is entered for income tax relaxation????
Go to exempted income tab and then choose section 10(11)
@@vpstca in exempted income tab sec 10(11) is not there to choose..
Please check this video
ua-cam.com/video/h4CmvzwM4XM/v-deo.htmlsi=F4LqcepcIwy3lP7C
What is tax slab for pensioner?
Same as for other pls check this video for clariry ua-cam.com/video/1U-AeKbV4O8/v-deo.html
Sir GPF and GIS amount jo retirement pe receive hota hai usko Salary as per section 17(1) me add krna hota hai kya?
Kyoki jb mai usko Exempt income me dikha rha hu under section10(11) and 10(10D) toh wo 17(1) ki salary me se exempt hue bina tax caculate kr rha hai.
Isiliye mujhe lag rha hai, these 2 figures are only for information purpose and we should not add these in 17(1) salary. Please guide.
पहले add करो in Section 17(1) and than take exemption in section 10
@@vpstca how to show gpf amount under sec 10??
@@systemraosahab371Check this video and choose Statutor Provident Fund ua-cam.com/video/o4DGhAR8cwU/v-deo.html
For the FY 22-23 i have filed my return in due time and e verified but i have to checked whether new regime is beneficial for me or not, which i found while submission of this year return, it will allow me for a huge return.
Can i correct previous year returns regime, from old to new and claim my refunds.
No
सर, मैने रिटायर होनेसे १ साल पहिले नोकरी छोड दि है.मुझे २०२३-२४ मे EPF से ३०लाख PF वापस मिला है और कंपनीने १२५००० LEAVE ENCASHMENT मिली है. ओर gratuity ८लाख मिली है. अभी मै नोकरी नहीं करता हू. मैं कॉर्पोरेट मे काम करता था. अभी मुझे 23-24 का रिटर्न भरणा हैं मैं कौनसा ITR यूझ करू. मुझे उपर वाला deduction मिलेगा क्या? कृपया करके मुझे रिप्लाय दो
File ITR 1 and yes bilkul milega
Sir, can we submit ITR-1 if the total income cross 50 lakhs; however the Total Taxable income is far below 50 laks?
U can't file itr 1 if ur total income exceeds Rs 50 Lakh.... Total income means income after deduction of section 80c to and 80u
nice. but 1 query. i retired from state govt. service on 31/10/2023. i earned regular salary as employee upto oct. 2023 and pension for the rest of fy. 2023-24. what should i show in salary u/s 17(1).....salary+pension? please reply sir.
Yes
@@vpstca Thank you,Sir
Sir, I understand from the video that GRATUITY, CVP and LEAVE ENCASHMENT are to be added in Salary u/s 17(1) and then claim exemptions under various subsections of sec. 10 from salary. But how do I show receipts from GPF and GISS?
I was in Central Govt. service up to December 2022 in Kolkata and received pension for Jan. & Feb.2023, now I am a Pensioner. What will be my Category CG-Pensioner and Sr. Citizen ? and how to the retirement benefits (i.e. Gratuity, Commuted Value & Leave salary encashed ) may be shown ? Please provide information.
Ur category is CG pensioner and how to shown retirement benefits in itr1 already shown in dis video
Thank you!
Sir if state govt employee is retired in May 2022, means has 3 months salary and 9 months pension. Then what to choose in nature of employment SG Pension or State Govt employee?
SG pension
Ok. Thanks!
Means in section 17(1) salary will be 3 months salary(which is shown by system, as available at IT dept. by 16A) plus 9 months pension. Am I right?
@@akadam93 yes ur right
राज्य बीमा राशि सेवानिवृत्त पर प्राप्त हुई है ।उसको itr 1 में कहा पर लिखना है ।सेक्शन 10 में यह नही बता रहा है।
@@dineshbohara9731 Exempted income मैं choose any other
Thank you very much. Sir, I want to know is (a) Insurance money received during retirement & (b) Composite transfer grant received during retirement taxable or tax exempted income? In which column I will show these income? Please help me to know this so that i can fill ITR accordingly. Thanking you.
Check Video on insurance ua-cam.com/video/joNbjNKRKYA/v-deo.html
U can claim exemption of composite grant to the extent of actual expenses incurred on transfer but if the Amt paid by employer is more than the actual specified expense incurred the excess Amt shall be taxable as salary
VERY VIVIDLY EXPLAINED, SIR. BUT 1 QUERY. I HAVE RETIRED FROM STATE GOVT. SERVICE AND RECEIVED PROVIDENT FUND AND GISS. HOW TO SHOW THESE 2 AMOUNTS IN ITR1.....EXEMPT INCOME FOR REPORTING PURPOSE OR AS SALARY EXEMPTIONS FROM 17(1) ALONG WITH GRATUITY, CVP AND LEAVE ENCASHMENT?
You can show Provident Fund in Exempted income directly for reporting purpose only bcoz in Exempted income there is a separate option for this... You can check the video below
Video Link ua-cam.com/video/o4DGhAR8cwU/v-deo.htmlsi=7OIowpMQdTWoMrnD
Yeh company aur sarkar bahut alsi hai govt June se itr start Kiya whi company wala form 16 July 18 ka baad deta hai.
Yes, ITR last date should be 31 Aug not 31 Jul
If I have income from Dividend from Mutual Fd. and Sold some units of mutual fund, which form should I use ? ITR-1 or ITR-2, may I get facility to get standard deduction of ₹50,000/- in ITR-2 form under old tax regime ?
File ITR-2 and std deduction bhi मिलेगा don't worry... Check dis video ua-cam.com/video/i5_0ABqCra4/v-deo.html
namaskar sir , my cousin receiving army pension, now he is in DSC(defence security corps) second service. ? can we show pension in exemption in itr1? kindly give reply sir..
No, add both and show in salary as per section 17(1)
@@vpstca ok thank you sir
@@vpstca sir one more doubt can we claim 60GG ... I have taken housing loan also?
@@domalapallypraveen it is 80GG yes u can claim if ur cities are different ....aslo check this video ua-cam.com/video/xiQGTbbs4vg/v-deo.html
@@vpstca sir what about FD and security interest income?
Sir...15 month pending pension credited simultaneously...so total income of current fy increase and tax deducted...how to solve this?
No issue file itr and show income as salary
can you show gratuity with itr2?
will try to make a video on it