How to enter Assets & Liabilities?
In Taxbase go to Income Details >> Here click on Other Form Data >> Then click on Assets & Liabilities >> Here you can enter details when your income exceeds 50 Lakh.
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How to enter Foreign Asset Income?
In Taxbase go to Income Details >> Then click on Other Form Data >> Here click on Foreign Assets option >> Then foreign assets window will open enter details in it.
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Where to enter the details for Short Term Capital Gain entries where STT has been paid and same are Taxable 15 ?
In Income Tax >> Income Details >> Click on Capital Gains >> Click on New >> Select Type of Assets as Shares/Units >> Select Description of Assets from drop down list >> Enter Sale Date, Selling Price, Acquisition date, Acquisition Cost. & to treat tax as a special rate for short term capital gain, please tick on Security Transaction Tax paid. >> After entering all required details, click on Save, & it will show Capital gain breakup in 15% block. >> Click on above window & message will display that Capital gain break up saved successfully.
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Where to enter Long Term Capital Gain of Agriculture Land which is Exempt?
In Income Tax >> Income Details >> Exempt Income >> Income Claimed Exempt under Sec 10 >> Enter the details here and save.
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Where to show Capital Gain from depreciable asset?
In Income Tax >> Income Details >> Go to Profit & Gains from Business / Profession >> Business/Profession >> Click on New >> Enter Business Name & Click on Details button >> Click on New & Tick on Allowable & Then click on Deprecation Button > Enter the data into respective block along with Selection of Block Deleted as YES & select Quarter in which block is deleted >> After save Business/ Profession window >> go to Income details >> Capital Gains >> Capital gain or Loss On depreciable asset will be automatically picked into respective field.
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Where to enter Capital Gains from sale of Land?
In Income Tax >> Income Details >>Click on Capital Gains >> Click on New >> Select Type of asset Land >> Enter details such as Purchase Date, Sale Date, Stamp Valuation, Sale Consideration, Improvement Costs, Selling Exp along with exemptions if any >> Click on Save & Close.
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Where to enter Capital Gains from sale of Residential House?
In Income Tax >> Income Details >> Click on Capital Gains >> Click on New >> Select Type of Asset Residential >> Enter details such as Purchase Date, Sale Date, Stamp Valuation, Sale Consideration, Improvement Costs, Selling Exp. along with exemptions if any >> Click on Save & Close the data entry window.
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Where to enter Capital Gains from Long Term Shares / Units listed on Stock Exchange which is exempt?
In Income Tax >> Income Details >> Go to Capital Gain >> Click on New >> Select Type of Assets Share & Units >> Click on Add Details Such as Description, Sale Date, Purchase Date, Quantity, Rate etc. >> Tick for STT Paid. & it will treat as exempt Long term capital gain on shares/Units.
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Where to enter Capital Gains from Long Term Shares / Units not listed taxable at 10 percent or 20 percent?
To make following effect go to Miscellaneous >> User Parameters/Options >> Go to Taxbase >> Capital Gain >> untick on option Auto Determine 10% or 20% on long term capital gain on shares >> then save & Close >> After that go to Income Tax >> Click on Income Details >> Go to Capital Gain >> Click on New >> Select Type of asset Shares & Units >> Add details Such as Description, Sale Date, Purchase Date, Quantity, Rate etc. >> You can manually choose the option you want by selecting respective radio box with respect to rate.
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Where to enter Deemed Capital Gain ?
In Income Tax >> In Income Details >> Capital Gain >> Select Type of assets Deemed CG >> Click on Details of Unutilized Amount of Capital Gain Accounts Scheme >> click on Yes for applicable >> then Select section whether Short Term or Long Term >> enter appropriate data entry fields & save the entry >> Same effect will update in Capital Gain Break Up.
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Where to enter Exemptions under group of sections under 54?
In Income Tax >> Income Details >> Capital Gain >> Select Appropriate Asset Class >> Do the Data entry into required fields >> Click on Exemptions >> Select Require Sections and do the data entry to claim exemptions.
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Where to enter the Short term capital loss to be ignored u/s 947 / 8 in case of the assets not covered u/s 111A?
In Income Tax >> Income Details > Capital Gain > Shares/Units > Enter Sale Date/Purchase Date (Diff to be less than 3 months) > In case of Loss entry It will give window to enter loss to be disallowed > Select the Section > Enter the Loss > Save the entry > Appropriate loss will be taken to Loss Adjustment.
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Where to show amount deposited under Capital Gain Accounts Scheme?
In Income Tax >> Income Details >> Select Respective type of assets >> Tick on Personal Assets Converted into Stock in Trade” >> Enter Details like Date of Sale/ Purchase, Sale Price, Purchase Price, Improvements if Any >> Save the entry >> Indexation will be calculated on the basis of Tick >> Save the entry >> Capital Gain Break Up will be Auto Updated.
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Where to do the data entry for Personal/Capital assets converted into Stock in Trade?
In Income Tax >> Income Details >> Select Respective type of assets >> Tick on Personal Assets Converted into Stock in Trade >> Enter Details like Date of Sale/ Purchase, Sale Price, Purchase Price, Improvements if Any >> Save the entry >> Indexation will be calculated on the basis of Tick >> Save the entry >> Capital Gain Break Up will be Auto Updated.
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Where do I enter details for PreConstruction period interest?
In Income Tax >> Income Details >> Select Respective type of assets >> Tick on Personal Assets Converted into Stock in Trade >> Enter Details like Date of Sale/ Purchase, Sale Price, Purchase Price, Improvements if Any >> Save the entry >> Indexation will be calculated on the basis of Tick >> Save the entry >> Capital Gain Break Up will be Auto Updated.
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Where do I enter details for co owners and their ownership percentages?
In Income Tax >> Income Details >> House Property >> Click on New >> Enter Self Ownership Details >> Click on ... To enter details of Co-Owners >> E.g. Name, PAN, % of Co Ownership.
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Where do I enter details for Tenant?
In Income Tax >> Go to Income Details >> House Property >> Click on New >> Select Rented Property >> Click on Tenant Details >> You can enter details for Name and PAN of Tenant (s).
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