Income- tax Return
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.
rzr
Stealth
a year ago
I have claimed hra but I didn’t pay rent if they issue notice what will be penalty I need to pay
FunnySpeed21
Student
a year ago
Firstly, whether the HRA deduction was specified in the Form 16 issued by your employer? Or you yourself directly claimed it in the return?
Whenever department issues notices, they'll first ask you to submit copy of rent agreement/ rent receipts. In case you fail to submit that, the department can deny HRA exemption, thereby leading to tax payment
What if tax has been deducted earlier without any deceleration but now i want to claim HRA without paying rent, i am thinking of showing rent paid to my non working mother pan...will there be any issue and what is the procedure for that? And how much can be claimed given then she doesn't have any income nor she hasn't filed any itr with her pan?
samosa
Stealth
a year ago
How much black money do your clients have
FunnySpeed21
Student
a year ago
I'm not a practising CA. I don't have my own firm. I work in a MNC.
Thanks for the post. I work as a contractor, and my company deducts 10% TDS each month. However, there was a typo of my pan number and the TDS was going into a different account. Never noticed it till now. 10 days back they fixed the error. However, it's still not reflecting in my 26AS. They said it takes time and will inform me. Will I miss my tax return claim if it does not happen before 31st July? Is there any other solution to this?
FunnySpeed21
Student
a year ago
First of all, ask the company to give you a fresh Form 16. Secondly, wait till last couple of days in case the deducted TDS gets reflected.
Even if it doesn't get reflected, manually enter the correct details of tax deducted in the return and file the return. Maybe by the time return is processed, the correct details would've been synced.
Also, if you don't file the return by due date, you'll have to pay up a penalty.
This is what they said I asked for for 16. "Since you are a contractor, you will not get any form 16 but you will be able to see the tax deposited against your pan card in Form 26AS"
Is there anything wrong here?
See more comments
Honda
Stealth
a year ago
Yes for certain types of disabilities. Not for all.
I claimed 75k in section 80 U for my father as he has vision problem , and got a medical certificate for 40% disability. The return was processed and got refund aswell. But Is it required to file Section 10 1A as well ???
,coz the doctors are not signing on that citing its risk for them,even though they issue medical certificate.according to the state govt format.
FunnySpeed21
Student
a year ago
Technically, now, Form 10IA is required to be filed online. Also, the medical certificate for 40% disability needs to be attached while filing Form 10IA.
Since your return has already been processed, it is fine. But in case you get any notice or intimation, then you'll have to submit the Form 10IA.
Maybe you can consult another medical practitioner to sign the form.
See more comments
What should one do if the company has deducted TDS but has not paid the same to IT dept and as a result has not issued form 16? This is happening currently with many employees and laid off employees of Dunzo.
FunnySpeed21
Student
a year ago
Please check with the company by when they'll pay up the TDS? They are bound to pay that to the government. Because, in such cases when you'll be filing your own Income-tax return, the TDS amount won't be reflected in your Form 26AS, and accordingly a tax liability will arise.
They are claiming to file by next week. But the company is in serious financial trouble and I doubt they will be able to do it. If that is how the situation turns out, then what would be the best course of action that you would recommend
See more comments
punydrama
Stealth
a year ago
if i take a home loan for a pre construction property how should u claim income tax rebate
Can we switch from the old regime to the new regime and vice versa indefinitely? I am a fresher, so I don't know about this. TIA
FunnySpeed21
Student
a year ago
Yes, you can switch between the old or new regime option for each year.
design
Stealth
a year ago
I don’t think you can go back to old one.
TLDR: Does 44ADA with presumptuous expenses of 50% have any future implication in filing ITR 1 for my normal job in the following years.
My previous year income was in the form of 194J(B) I would like to fill 44ADA with 50% presumptuous expenses would that have any future implication in filing ITR 1 for my normal job for the upcoming years?
Toph56
Stealth
a year ago
Where do I declare the gift of equity / mfs received from spouse? Did a transfer of a few shares to consolidate holdings. It’s tax exempt because it’s a gift from a relative. And haven’t sold them. So do I still declare it somewhere now?
FunnySpeed21
Student
a year ago
Gift to relatives is a tax exempt income. However, you'll have to report it as an exempt income in the ITR Form under Schedule EI.
Toph56
Stealth
a year ago
Thanks!
Hey
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.
Hey I am a beginner, my employer had cut 10% tds and i am eligible for a refund. How should i add this refund thing. I am opting old tax regime ITR1. I am filling ITR for 1st time.
FunnySpeed21
Student
a year ago
You should file the ITR with all your income details and deductions, if any. In the ITR, tax if any will be automatically computed and balance shall be refunded. Please put your correct bank account number in the ITR.
breez
Stealth
a year ago
So I have to file my father's taxes this year. He gets pension and that's it.
He used to pay some guy who took 5K + 10% commission of tax return. That seemed like a scam to me now that I see it. My question is how does he do that? He used to get over 1L return with just 30k pension. I assume 80c? But he asked for no investment proof / Asked to make investment of any sort.
FunnySpeed21
Student
a year ago
You mean the pension income was 30k per month, leading to 3.6 lac a year ? I'm not sure how can there be a tax refund of 1 lac on this amount.
breez
Stealth
a year ago
Yes 40k* pension * 12
Guy filed in fake sections if I’m not wrong.
breez
Stealth
a year ago
I have missed my HRA payments to my grand father, Will that be an issue? I have rent agreement and will create clear tax rent receipts.
breez
Stealth
a year ago
How’s CityMall btw? Need some honest reviews
Desivakeel
Stealth
a year ago
My employer claims to have deducted TDS and submitted it to the government. However, it's not getting reflected on the Traces website. Neither has my employer provided form 16A. How should I go about my filing? Should I file assuming my employees deducted TDS properly?
Heisenberg1
Stealth
a year ago
Unless it is reflected on 26AS, you should assume that your employer has not remitted tds to government. You should probably mail your employer and ask about this.
FunnySpeed21
Student
a year ago
Please ask the employer to give Form 16 asap. They are obliged to give you the same. It could be a case wherein they're deducting TDS on your salaries but not paying it to the government on time.
Node
Stealth
a year ago
How to correct minor head on E Challan after payment? Payment made online but I hear banks can do it within 7 days.
FunnySpeed21
Student
a year ago
I'm not sure on this but maybe you can check with the Income-tax Portal Helpdesk/Helpline.
Can I change tax regime when filing income tax? gave new regime to company but want to file tax as old regime to save more?
Elix
Stealth
a year ago
How do I show professional income along with salary? ITR 3? How much can I claim as expenses from that amount
Elix
Stealth
a year ago
Batao dost?
Landlord refuses to furnish pan details. Can i provide some sort of declaration while filling return?
FunnySpeed21
Student
a year ago
How much is the rent amount per month/per annum ?
Discover More
Curated from across
