I got to know that i paid extra tax as I made mistake while filing my investments / leave encashment 2 yrs back. Is there a provision to recover / claim for extra tax paid before? Kindly help me 🙂

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Recover extra income tax paid 2 yrs back

Product Manager

Recover extra income tax paid 2 yrs back- Grapevine

Anyone here who got the notice from income tax regarding mismatch in form 16 and return filled?

I did not get chance to declare investments to my previous employer and they deducted a big amount of money.

Post that in itr i declared a bit more but now got a mail that there is mismatch in form 16 and itr filled.

They have given 2 option:
1. Claim that declared itr is true to the best of knowledge.
2. Revise the return.

Anyone who has experienced the same?

Got notice from income tax-mismatch in form 16 and itr

Hi All,
  I switched to a new company last year and because of penalty clause, my joining bonus is deducted from the f&f settlement of the previous company. The issue is in my form 16 they have included it in my total earnings. Now my old employer is not correcting it. Whats the way forward? Can i correct it while filing ITR?

Joining bonus recovery - ITR

Strategy & Operations

CA here. In case anybody has any query regarding Income-tax return filing, can comment below. Will try to help you out as much as possible.

Income- tax Return

Quite curious about this because my understanding is that government is more watchful about cash credits. So would transactions like someone paying u through Wise/Brex/Paypal and the likes get recorded with expectation of us declaring it as extra income for tax ? I am not talking of inward remittance. Another example is u held some paytm gold for few years but now u sell some of it. Is it ok not to mention any of this while filing ITR? Anyone has some experience do share.

If a credit doesn’t show up in AIS, is it still tracked/recorded for tax?

Software Engineer

Finally processed my ITR after multiple follow ups, and they have shared difference amount
Let's say Tax I calculated was Rs X
Tax Govt calculated Rs Y
I agree with Y, and Y minus X = Rs 2660. No problem paying that

But, the demand says payable amount is Rs Y
But I have already paid Rs X. Why haven't they considered that?
I should be paying the difference now.

What to do in this situation?
Have you faced similar situation?

Received ITR with outstanding demand

Consultant

I did not pay any taxes in 2022, since I had not made any money.

From March '22 to March '23, I made around 28L, so 14L taxable. However, I'm only seeing advance tax payment option.

How do I pay tax for last year, or is it not needed and I pay advance tax only by extrapolating this year's income.

Or is the advance tax I'm paying for last year only?

Pls help, thanks.

Freelancer, need tax help.

Product Designer

I got salary of 250000 in April which includes bonus + leave encashment around 90k, for which there was a 50k income tax cut for this month. HR said since bonus was more, they had to deduct 50k. Is this how it is usually done? Is that amount justified?

Income tax cut for bonus

Growth Manager

Welcome to Product Managers's Private Community

I got a pay hike in the new FY but income tax deducted way Higher. Is it because I did not declare my investment proofs?

Got a hike but tax deducted

Hey, I'm a fresh college passout working for a startup and I gotta do taxes now(how fun). 
The organization is making me choose between the old tax regime(2022) and the new tax regime(2023).

 My in hand is 9LPA. 

Which tax regime should I choose?

Tax regime advice for fresher

Hey guys ,

I changed job in Oct 2022 , as i am a fresher and didn’t have knowledge - i didn’t check my payslips thoroughly and realizing just now that they didn’t cut tds from Oct - March . What will be the steps i have to do now in my ITR ? Is that illegal from my company ?
Will it be a problem for me?

Ps - Although they have cut ₹5156 from April 2023 in the name of total income tax , as per the new guidelines.

My ex employer didnt cut TDS (2022-23 )

UX/UI Designer

I had taken up a 5 year tax saver FD in previous financial year. Due to some weird reason, my company had rejected it and this investment under 80C does not reflect in Form 16. 
Now while filing ITR, should I add this amount of FD under 80C?

ITR1 help needed

Got Rs 69,120 credited back to my account around 1 month post filing

How much income tax refund did you get/ended up paying additionally?

So like many/some of us, I claimed HRA more than actually paid quoting my landlord pan. Now when he was filing ITR, his CA found this out, probably through AIS. He asked me to get it fixed and vacate. Question:

1. Has anyone else faced it?
2. What would be the best solution? My CA suggested to request the landlord to accept that extra income on ITR and pay tax. I will offer her to pay the difference, Reason being that if he rejects, it will eventually come to me as IT notice and then I would need to provide evidence which I won’t have for inflated amount .

Advice needed and word of caution

my new company is asking for investment proofs for tax now only, I'm yet to invest in elss. If I don't provide the proofs I'll be paying more tax but I invest in elss in between Jan to Mar, I can show this while filing and claim a refund right? please help here.

will I get itr refund?

I have selected old tax regime and I have declared around 1.80 Lacs of investment. Now my tax is not getting deducted in monthly salary but from the declaration I am not actually doing any investment. How should I resolve this issue.

Please guide if someone know this!

Recover extra income tax paid 2 yrs back

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