CASE STUDY 1 Para 329.

329.1 Case study 1-Generate income-tax return from the

data given below-
Name Raman K. Mehta
Father'sName Shyam K. Mehta
PAN
Dateofbirth
ABNPM2312P
10/01/1972
Address 94A/117, Marathwada Street, Pune - 412105 (Maharashtra)
MobileNo. 7254122548
e-mailID
Residential status raman184@gmail.com
Resident and ordinarily resident (he was in India for 310 daysduring the previous
year 2023-24)
Return to be filed under 139(1), original return
which section
Name and address of Amar Consultants, 4/95/10, Shiv Street, Station Road, Pune - 412107
employer
PAN of employer (Maharashtra)
AANCA32190
Director in any company No
Shareholding in unlisted Nil
companies
No. of bank accounts held 1
by assessee at any time
(including opened/ closed)
during the previous year
Details of bank accounts Name of bank Yes Bank
Account No. 45871264985
IFS Code YESBO000008
Type of account Saving
Date of filing 22/07/2024
Place of filing return Pune

Income details -Income details are given below -

Rs.
Income from salary (as per Form No. 16 given by employer)
Basic salary. 1,68,00,000
Transport allowance 19,200
Lunch allowance. 18,000
House rent allowance (entire amount taxable) 4,60,000
Children education allowance [fully exempt under section 10(14)). 2,400
Leave salary (fully taxable) 18,000
Conveyance allowance for local travelling
-Conveyance allowance received from employer 34,000
-Conveyance allowance exempt under section 10(14).... 8,000
Leave travel concession (LTC) -.
-LTC received from employer 58,000
- LTCexempt under section 10(5) 52,000
Income from house property (self-occupied)(address given above)
Municipal tax 68,000
Interest on borrowed capital 2,75,000
Fire insurancefgeneral insurance premium 48,000
Income from other sources
Barik interest (FD) (net of TDS@ 10%) 9,00,000
Interest on savings bank account in Yes Bank 37,410
nterest on income-tax refund (received on February 10, 2024 for the assessment year 2023-24) 9,110
Deductions from gross total income
Under section 80C 1,50,000
Under section 80CCD(1B) 40,000
Rs.nder section 80D [for assessee and spouse :Rs. 16,000, for parents (age :69 years) of assessee:
41,500] 57,500
Para 329.2 e-FILING OF INCOME-TAX RETURN 538

Rs
Tax deducted at source
-By employer (TAN of employer: RTKA55484C) 56,66,100
- By bank on FD interest (TAN of Yes Bank : MUMY02084F)....... 1,00,000
Advance ta/sclf-assessment tax paid by nssessee 40,000
- Tax paid on 12/09/2023 (BSR Code of bank : 0005641, Challan No. :00036)
-Tax paid on 30/04/2024 (BSR Code of bank :0005641, Challan No. : 00140) 1,06,000
Assets details -Asset details are given below (wealth-tax return never filed) -
Rs

Jewellery held by assessee on 31/03/2024 8,90,00

-Cost of acquisition (when originally acquired in 1991-92)
- Market value as on 31/03/2024 27,10,000
Self-occupied residential property 8,10,000
-Cost of acquisition (when originally acquired in 2002-03)
- Market value as on 31/03/2024 22,70,000
Plot of land held by assessee (address : 305/32, New Panipat Road, Delhi -110005) -
Cost of acquisition (when originally acquired in 1982-83) 2,00,000
- Market value as on 31/03/2024 8,17,00,000
Cash in hand on 31/03/2024 42,000

329.2 Case study 2-Generate income-tax return in from the data given below -
Name ShrinathS. Makhija
Father's Name Ajinkya S. Makhija
PAN AANPM6521G
Date of birth 24/11/1970
Address 44-98,Jatin Complex, 24th Floor, Bandra West, Mumbai - 400050 (Maharashtra)
Mobile No. 9654667702
e-mail ID shrinaths1980@gmail.com
Residential status Resident and ordinarily resident(he was in India for 270 days during the previous
year 2023-24 and 310days during last 4 years)
Return to be filed under 139(1), original return
which section
Name and address of Krishna Chemical (P.) Ltd., 5086, Mohan Nagar, Bandra (East), Mumbai -400080
employer (Maharashtra).
PAN of employer AANCK8217Q
Director in any company No
Shareholding in unlisted
companies Nil
No. of bank accounts held by 1
assessee at any time (includ
ing opened/closed) during
the previous year
Details of bank accounts Name of bank SBI
Account No. 71457625689
IFS Code SBIN0001422

Date of filing
Type of account
2/07/2024
Saving
Place of filing return Mumbai

Income details - Income details are given below -

Rs.
Income fromsalary (as per Form No. 16given by employer)
Basic salary ...... 48,00,000
Transport allowance 18,000
Servant allowance. 12,000