Tax return Clarifications on RD and HRA

POSTED BY Pramoth ON July 29, 2013 12:14 am COMMENTS (2)

Hi Guys,

I have been long time looker and a regular visitor, but this is my first post/question.

Please clarify following doubt in filling my Tax return.
*  I skipped claiming HRA as i am staying with GrandMother, but later thanks to Jago article<https://www.jagoinvestor.com/2011/01/income-tax-saving-tips-video.html> found its legal to claim it. How to claim refund of this as i don’t see any specific dectection entry on ITR-1 excel sheet or online form?

* Next one is about adding interest rate from RD as other source of income. I had 2 RD which started on 3rd March’11 and 12th Jan’12, and former matured on 3rd March’13(interest Rs.3137) and 12th April’13(interest Rs.4362).
    – Should i just add the entire interest to other source of income?
    – Which Assessment year is the second RD part of?

* Next one is about Interest earned from SB account. Please confirm
    – if max of Rs.10000 can be re-claimed under 80TTA?
    – and the claimed is applicable after consolidating all SB account’s interest.

BTW i have looked at latest guide.
https://www.jagoinvestor.com/2013/05/guide-on-income-tax-return-itr-filing-doubts.html

 

Thanks,

Pramoth

2 replies on this article “Tax return Clarifications on RD and HRA”

  1. to answer part of your question use this RD calculator to figure out tax liability:

    http://freefincal.com/2013/05/17/comprehensive-recurring-deposit-calculator/

    1. Pramoth says:

      Pattu, Thanks a lot for the calculator.

      * For the first RD, which spreads across 2 Assessment Year(current and last; for which i didnot file IT), so i am just going to calculate on the matured amount. Thanks to Ashal.
      * For the second RD’s interest i am going to use your calculate and file ITR.

      Thanks Again

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