3 days left for Filling ITR for AY(2019-20)

The last date of filing ITR was 31st July whereas it was extended till 31st August 2019.The last date is approaching as only 3 days left hence hurry to file ITR as to avoid last minute rush and any penalty due ITR  filed after last date i.e 31/08/2019.

On the other hand, if the tax evaded exceeds Rs 25 lakh the punishment could be 6 months to 7 years", as per the website of the Income Tax Department.

Penalty due late payment is as under: -

Rs 5,000 if the tax return is filed after the deadline but on or before December 31 of the relevant assessment year (in this case December 31, 2019).

Rs 10,000 if the tax return is filed after December 31 but before the end of the relevant assessment year, i.e., before March 31 (in this case between 1 January 2020 and March 31, 2029).

If you are a small taxpayer whose gross total income does not exceed Rs 5 lakh then the maximum fees you are liable to pay is Rs 1,000.

http://pramodarrah.blogspot.com/2019/08/e-filing-of-income-tax-return.html?m=1

-pramodara

GILGIT & BALTISTAN of PAKISTAN administered Kashmir

A brief about GILGIT & BALTISTAN of Pakistan administered Kashmir

A little known and less talked about in public arena until recent removal of Article A370 from state of J&K;Gilgit & Baltistan also come into lime light.

Leaders of this region who are staying abroad did appear on different TV channels world wide in last few days.

The territory of present Gilgit-Baltistan became separate administrative unit in 1970 under the name "Northern Areas".It was formed by the amalgamation of the former Gilgit,Baltistan district and other small princely states.The largest among them were HUNJA & NAGAR.

The whole process of governing through presidential order of Pakistan was in contrary to UN resolution.

In 2009 ,it was granted limited autonomy and renamed to Gilgit-Baltistan via self -Govenance order signed by Pakistan President Asif Ali Zardari.

Surprisingly at both these occasions in 1970 and in 2009 neither any media in India nor ruling party made any hue and cry the way pakistan is doing today after abrogation of A370.

The special status of Kashmir which was being enforced through A370 since last six decades was temporary in nature and was totally internal matter of India even as per UN resolution (India took this issue  to UN on 1st January 1948) which clearly states about the removal of forces from POK first then minimise the presence of forces in Kashmir of Indian side.Plebisite comes only after compliance of this part of resolution.This was never done from both side.

The population of Gilgit and Baltistan wanted to merge as a fifth state of Pakistan and was opposing integration with Kashmir which was rejected by Govt of Pakistan as it was weakening the demand of whole Kashmir issue to be resolved according to UN resolution.

Aftef the defeat of sikhs in the first anglo-sikh war,the region became part of princely state called Jammu and Kashmir which since 1846 remained under Dogras.

The region which remains under princely states until 1November 1947,disliked being ruled by Kasmir states.

After Independence,J& K initially remain an independent states for few months(15 August to 22 October 1947).

On 22/10/1947 Tribals backed by Pakistani forces crossed the border with an intention to capture Srinagar but at URI

they encountered defensive forces.Maharaja Hari singh plea india for assistance and signed the Instrument of Accession.

Gilgit Baltistan is part of greater Kashmir region which is six times(Approximately 73000Sqkm) the size of POK and is subject to long conflict between India and Pakistan.

Courtesy-Wikipedia and google images.

-pramodara









CHECKLISTS (8 Docs.)for HOME LOAN/Sanction of Home Loan

Check list of documents towards Transfer/Sanction of HOME LOAN

There are occasions when we like to transfer Home Loan from one Bank to another due various reasons or as a fresher you would like to get your loan sanctioned for Home Loan.In both these cases you need to prepare and/or collect certain documents which are necessary to assess and sanction your Home Loan.

Following are the documents(need to be submitted) required for the employed category individuals.

(1)Application form duly filled by the  borrower and submitted along with 3 latest photographs,

(2)Proof of identity such as PAN Card/VID/DL/Passport,

(3)Proof of residence such as Telephone Bill/Electricity Bill/Passport/Bank account statement,

(4)Last 6 months Bank account statement of all bank accounts held by applicant,

(5)Loan account statement if any,

Personal asset liability statement in the Bank"s standard format,

(6)Salary slips for last 3 months,
Copy of identity card issued by employer,

(7)Form 16 and IT returns for last 2 years,

(8)Employe certificates, appointment letters,increment letters duly attested by employer.

Once these documents are submitted, a fee of ₹ 5400/=for property up to ₹50 lacs and ₹8300/= for property above ₹50 lacs to 1 cr are charged along with applicable processing fee.

All documents should be self certified.

Once meeting the above points,applicant can contact any authorized bank's agent for further processing which will minimize your efforts up to minimal.

-pramodara

Celebrations of JANAMASTHMI Festival in our Royal Green Apartments

JANAMASTHMI MAHOTSAVA in ROYAL GREEN APARTMENTS

Shri Krishna Janmashtami was celebrated tonight dated 24/08/2019 in our socity with much fervor and gaiety in our Common Hall.

The kids of our society perform the stage show on this occasion alongside few Residents.

The glimpses of few performances and pictures  are as under:-

KASHMIR AFTER ABROGATION OF A370 & 35A

Kashmir in present after Abrogation of A370 & 35A

Volume was talked about abrogation of A370 & 35A from Kashmir in last two weeks and undoubtedly it was a bold and historic decision which we witnessed as the history being made on August 5th,2019.

A lull after removal of this article is felt in Kashmir as curfew has been clamped in the entire length and breadth of the valley.Though it has been relaxed after August 15 for the time being and then again it was enforced.

Situation is getting normal in Jammu and Laddakh area except in Kashmir though schools and colleges opened from Monday dated August 19.

Our fingers are crossed for any untoward incidents of violence which has for now been averted by deploying extra forces in the valley.

The deployment was necessary with an intention to prevent any incidents of violence and so the mainstream leaders of Kashmir were also detained as house arrest.

Government is confident of progress under new political frame of UT with respect to previous system under special status of A370.

Centeral Government is spending approximately ₹27000/- per person annually in J&K in contrast to ₹800/- per person in Bihar whereas still the progress is not at par with the rest of the states in India.Only 1%population is there in Ladakh with 60%land but they used to get the share of money with respect to 1%population only.The region was completely neglected in all these years of 72 years; is the matter of concern for people in Ladakh and hence they are celebrating the Government move of a separate UT.

Similarly the people of Jammu are also happy and have no issue with this decision.Infact they are also looking forward for progress after investment in the state or in their area.

Kashmir with the largest population of around 6 to 7 millions people who were misguided by their leaders in all these years may be felt as cheated since they think that the decision was imposed suddenly without taking them and their leaders in confidence.

A large chunk of population was fooled by their leaders in last  7 decades and now everyone knew that their own wards are studied abroad and settle their whereas they motivated youths of Kashmir for pelting stones on armed forces for few bucks.
Corruption was at rampant in the state of Kashmir(J&K) and people over there were helpless dependent on the mercy  of Government officers.

Unemployed youth was easily get misguided and diverted towards terrorism,working against the establishment and many a times loosing their live.

Calibrated release of curfew in Kashmir will definitely bring life on track in Kashmir but there will be an uphill task of Government to fulfill their objectives that there must not be any incidents where a youth should loose his life.This is not easy as our armed forces are round the clock on toes to avert any infiltration of terrorist from across the border.

An wounded and hurt by abrogation of A370 from India,Pakistan is making every effort to deestbilize the region which is foiled by our armed forces on daily basis;is not an easy task.

Pakistan who claims the territory has no firm ground as they claim the area just on the basis of "Two Nation Theory" at the time of partition.Area which was vacated by armed forces then after Kabaily attack in 1948 was again handed over to Pakistan by India otherwise even the POK would have been with India only.PM Nehru tried twice in the month of November 1948 to negotiate with help of lord Mountbatten but was of no use which forced Mr Nehru to seek help for referendum through UN.The conditions of UN declaration to remove forces first from POK was never complied and it remains disputed until August 5,2019.

Now it is the responsibility of each of us that we shouldn't talk or write any provocative statement on social media which instigate our kashmiri borthers and sisters.

We hope about the positive journalism and journalist must avoid -ve journalism.
We are sorry to say at this juncture that few private channels on social media and others are purposefully trying to telecast negativity and trying to put their words to the interviewer.They must avoid it.This is not the time to work for TRP but they have to do responsible journalism for kashmiri and Nation.They need our love,care and affection and we must imbibed the faith that they are like us and we are for them; ofcourse they are passing through the worse phase of life due transition.

Central Government has to be proactive honestly and engage youths in mainstream by giving opportunity to serve nation by employing them at faster rate as they promised.
They should see the wind of progress immediately and at much faster rate than they would have imagined as the way A370 was removed.

They had a belief that it can never be done and hence they are in the state of shock.

Leadership of Kashmir is more responsible of this condition in Kashmir today as it is seen that Kashmir affairs in all these days become the matter of Two families and one party in centre from they day of accession in 1947.
They enjoyed all sorts of facilities from center that includes official residents,money, personal security, education and jobs for their wards and relatives leaving the commoner over there in as is condition.

Apart from this they keep on fooling the youths and inflicting venom against India,imbibing that they had a special status due A370 which over the period considered as a "separate status", forcing them to hold gun and stones in their hands results in shifting "SUFI"Kashmiriyat ideology to Islamic ethos.

Now definitely a wind of progress will be felt by people of Kashmir soon as many steps are being taken apart from filling all the vacancies of state within months.An investment meet of industrialist has been organised in couple of months.

Hope that new Kashmir will have peace and prosperity soon.

-pramodara





 

E-FILING OF INCOME TAX RETURN

                     TIPS FOR E-FILLING INCOME TAX RETURN

Did you filed your Income Tax Return?Remeber the last date of filing IT return was 31st July which was extended to 30/08/2019.If still not done,hurry and do it before last date to avoid fine.

Tax filing will be done under Assessment Year 2019-200r is called as Financial Year 2018-19

CBDT vide order u/s 119 extended the due date for filling e-return for AY 2019-20 from July 31 to August 30th of 2019 for certain classes of tax payers.

Software for e filing through Java and Excel are already available online after logging in through e-filing sites.

Advance tax

If the Income tax liability is more than Rs.10000/=it is liable for paying advance tax. Usually for individual salaried it is paid by the employer itself and hardly any liabilities remain but in any case its earnings increase under heading “Other incomes”;Advance Tax to be paid on regular interval at on or before 15 September(30%),15 th Dec(60%  of Tax liability) and 15th March(100%)

26AS form It is also popularly known as Tax credit. You can find all your tax deducted at source through various accounts/deposits/funds (if one get interest on regular basis)

A quick guide that will help you e-file your tax returns. Do keep in mind that the last date for filing your returns is August 30, 2019.

LIST OF THINGS YOU NEED WHILE e-filing your tax

A PC or a Laptop

Internet connection

PAN Card

Aadhar Card

Bank Statement

Copy of last year income tax return

Form 16 issued by your employer

e-File YOUR INCOME TAX RETURN:-

·    Log on to the Income tax website-www.incometaxindiaefiling.gov.in. Register yourself by clicking the icon on the right side of the page. If you need assistance call 1800-425-000-25.One must have a PAN CARD,Aadhar Card,email address and a Mobile Number to register with the Income tax site.

·    Download the Income Tax Return (ITR) form applicable to you. Enter your details by referring your documents i.e FORM 16 by employer.

    Form 16 is a certificate your employer gives you when the TDS deducted on your salary is certified. Form 16 has most of the information like PAN and TAN details of your employer, name and address of your employer and similar details for you are mentioned which have to be filled in the return. You will see a number which is your 'total taxable salary' and that is the number you will have to pick to submit under the head salary in your return.

Most of us earn a savings bank account interest or have some fixed deposits put away. This interest earned has to be added to your return under income from other sources.

    If you have any other bonds you subscribed to, where interest is accumulated, add this interest to your return. As a rule, interest income on deposits and bonds when it is accrued each year, rather than when it is paid on maturity.

If you have taken a home loan to own a house and you live in that house, you get a deduction for the interest for the financial year. The interest amount is your loss, which will get adjusted against your salary and other income.

    If you have rented out your house, the rental income is offered for tax. You can deduct property taxes paid by you and a standard 30 per cent from the net amount (rental income less property taxes) is also allowed. For a rented property an interest on home loan limited to ₹200,000/-is deductible. You'll also need to provide details of the property, address, date of construction, information about co-owners etc.

Also ensure that you have included all your Deductions 80C to 80U and Medical insurance (80D to 80G).This will be deducted from your gross Income and you are liable to pay low taxes.

     Once you have filled in the details, you need to validate the data, without which you will not be able to move ahead.

·       After validation of the information in the Excel sheet save the file in XML format. Please ensure you save the file in the correct format. Upload the XML file on the website. Do remember to select the appropriate assessment year (2019-2020) and the applicable form.

Download your TDS i.e form 26AS from Income tax site against your PAN NO.All the interest earned during the financial year 2018-19against your bank account is available here, and/or

Add up your interest earned from Bank’s saving account wef April 2018 to March 31,2019 in the column as “Other Interest”.

This can be got it from Banks Interest certificate.

For Self assessment tax which was not deducted before 31^st March 2019, an excess tax as calculated by the site on XML sheet is to be filed through e-pay Tax and will be automatically directed through the form itself. This will be only paid by card Debit card.

·       Next you will be directed the digital signature option. If you have a digital signature,you can add it here. Otherwise, you can proceed further where you will get an alert that the process is complete. You will receive the ITR verification Form (ITR-V) in your mailbox.

·       Take a print out of your ITR-V. If you don't have a digital signature sign the ITR-V with a blue ink pen and send it by post to the Income-Tax Department-CPC, Post Bag No-1, Electronic City Post Office, Bangalore - 560 100, Karnataka.

·         This has to be done within 120 days of filing your e-return.

Now a days,you must have your Aadhar Card linked up with your mobile number.
Once you submit your form,select E-verification through Aadhar.Immediately OTP will be generated.
You put up this OTP for e verification of your form.That is it.

Any one has any doubt at any stage can contact the undersigned.

Regards,
-pramodara,
9999908635

Pictures of LEH Market

Few pictures from LEH Market

LEH One day before 73rd Independence Day

We visited LEH just a day before 73rd Independence Day and post removal of A370 and 35A after 72 years.

People were very happy and appreciating PM Narender Modi for his bold step towards removal of above controversial article.

Here are few pics of LEH Market which clearly depicts the mood of people of Ladakh.