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Old 30th July 2012, 21:37   #226
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Default Re: All Income Tax Queries (refunds, disputes, rates etc...)

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Originally Posted by rameshnanda View Post
I have one question regarding the filing of returns. I prepared the ITR 2 sheet today and got to know that I owe to pay taxes. But, IT dept. still have unprocessed refund for me from the previous returns. Now, should I need to pay the taxes along with filing the returns or should wait for any intimation from IT dept?
Each assessment is independent. You can not avail of the excess tax credit of the previous year(s) in the the current year. So just go ahead and file your returns after paying the tax due to the Government.
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Old 31st July 2012, 10:25   #227
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Default Re: All Income Tax Queries (refunds, disputes, rates etc...)

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Originally Posted by kmadhok View Post
Quick question, I had made some donations during the year, but have misplaced the receipts, while I can request duplicate ones, I need the PAN number of the organization to be able to claim the credit.
Call them up directly and ask them for their PAN number. Tell them you have already made the donation. They would gladly provide you that information.


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Originally Posted by rameshnanda View Post
I have one question regarding the filing of returns. I prepared the ITR 2 sheet today and got to know that I owe to pay taxes. But, IT dept. still have unprocessed refund for me from the previous returns. Now, should I need to pay the taxes along with filing the returns or should wait for any intimation from IT dept?
Not answering your question, but if you have more than Rs. 10,000 due as tax (to the government), then u/s 234, you will also have to pay interest on this tax.
It is best that you file your return today itself, else the amount will increase further from tomorrow since you have not filed returns before cutoff date (31 July).
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Old 31st July 2012, 11:11   #228
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Default Re: All Income Tax Queries (refunds, disputes, rates etc...)

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Originally Posted by Su-47 View Post
This years ITR-2 has a section to declare foreign assets.

I understand that a lot of US-MNCs grant stocks to employees in India (stock-grants and/or stock-purchase via salary deductions). Does one need to declare these as foreign assets?

Cheers,
Su-47
Me too waiting for a response on this. Any one have more info into this?
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Old 31st July 2012, 11:16   #229
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Default Re: All Income Tax Queries (refunds, disputes, rates etc...)

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Originally Posted by S_U_N View Post
Not answering your question, but if you have more than Rs. 10,000 due as tax (to the government), then u/s 234, you will also have to pay interest on this tax.
It is best that you file your return today itself, else the amount will increase further from tomorrow since you have not filed returns before cutoff date (31 July).
It is indeed more than Rs. 10k. I would be filing the returns in a short while from now. But, how would I pay the tax?
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Old 31st July 2012, 11:48   #230
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Default Re: All Income Tax Queries (refunds, disputes, rates etc...)

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It is indeed more than Rs. 10k. I would be filing the returns in a short while from now. But, how would I pay the tax?
The tax amount (along with interest & default) can be obtained once you fill in the forms.

Then go to this site

https://onlineservices.tin.nsdl.com/.../tdsnontds.jsp

and choose self-assesment tax. (challan number 280).

Fill-in details, and you can pay the tax online from most internet banking providers. They made it very simple and takes just few minutes. Make sure you save and print the receipt. It has the BSR number etc, needed to be put in the ITR forms.

if you are doing online, the excecl should have a sheet "IT" fill in the information in here. Again click on the calculate tax, it should show 0 in the amount payable.

If everything ok, generate and submit. Good luck.
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Old 31st July 2012, 12:38   #231
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Default Re: All Income Tax Queries (refunds, disputes, rates etc...)

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Originally Posted by rameshnanda View Post
It is indeed more than Rs. 10k. I would be filing the returns in a short while from now. But, how would I pay the tax?
To calculate the INTEREST on tax, you can use this calculator:
Tax Interest Calculator

To pay tax, refer to mjothi's post above.
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Old 31st July 2012, 17:28   #232
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Default Re: All Income Tax Queries (refunds, disputes, rates etc...)

Just received an update that the timeline for filing returns has been extended to August 31st.
This should be out in the media soon.
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Old 31st July 2012, 17:52   #233
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Originally Posted by selfdrive View Post
Just received an update that the timeline for filing returns has been extended to August 31st.
This should be out in the media soon.
Received the update through my employer regarding same.
The PDF says this was done due to recent power issues and new norms for mandatory filing of return online for some taxpayers.

The PDF is attached with this post
Attached Files
File Type: pdf BreakingNews_Section119_31072012.pdf (42.3 KB, 146 views)
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Old 31st July 2012, 22:24   #234
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Hi, I have been using taxsmile.com for doing my returns for 3 or so years and find it easy to use. It as an easy q&a interface. It links to payment gateways and does interest calculations also. Also it stores past year records so it is available in one place? Recently I had to apply for some visa and I printed out the forms from the site directly and submitted rather than having to search thru my files, extract the documents, xerox them and then again put them back in the file. PS am just a user, no financial interest.
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Old 31st July 2012, 22:51   #235
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Originally Posted by Wheeliej View Post
Hi, I have been using taxsmile.com for doing my returns for 3 or so years and find it easy to use. It as an easy q&a interface. It links to payment gateways and does interest calculations also. Also it stores past year records so it is available in one place? Recently I had to apply for some visa and I printed out the forms from the site directly and submitted rather than having to search thru my files, extract the documents, xerox them and then again put them back in the file. PS am just a user, no financial interest.

For the first time, I filed online directly myself using some help from internet for no cost.
I also helped my Wifey to file it online, and claim the refund on missing HRA which her new employer had not taken into account.

A colleague who also happens to be Bhpian has been doing it regularly, so decided to give it a try as he mentioned its fairly simple.

Had been using taxspanner which provided mediocre services in spite of paying money.

Its pretty easy once you get hang of it.
My wifey should be able to now file it herself from next year onward.

No more dependency on third party services.

Last edited by born_free : 31st July 2012 at 22:53.
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Old 31st July 2012, 23:14   #236
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Default Re: All Income Tax Queries (refunds, disputes, rates etc...)

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Originally Posted by faustus77 View Post
Hi everybody
My daughter's refund for assessment year 2008-2009 not received.
Wrote 2 letters to the AO of ward 18(3)(4) attaching photocopies of returns files,form 16A showing the TDS etc.No reply not even an acknowledgement.
How do I escalate and to whom at Piramal Chambers Lalbaugh Bombay?
Please reply at the earliest.
Thanks a lot and regards.
PS :Subsequent refunds recrived.
For your info- returns for that particular assessment year have been held up in many cases, for no fault of the tax payer concerned.

Pl. apply for Form 26AS facility in case you have not done so. Once you have the facility (you can get it in couple of days), log on and download the 26AS form for that particular assessment year.
Check the form to see that all your TDS and advance tax payments etc are correctly shown there. If they are correctly shown there, you should have got your refund long back. Which means that probably they aren't.
It has happened to lots of tax payers for that specific accounting year, because it was possible for banks issuing advance tax paid receipts to enter wrong PAN, and TDS deductors to make mistakes by which your payments were credited to wrong person or to no one.

Approach the ITO specifically concerned with your case., (Jurisdiction Assessing officer). If you don't know who that is, contact the PRO of the IT department, he will guide you.

Go to that ITO personally (if you can't, send somebody who can show him all the papers). The problem might be sorted out.

If not contact a TIN agent in your town for further procedures.

One of my relatives is a retired member of the central board of direct taxes, who retired 30 years ago. He has had no problem in getting direct access to all of the officers concerned. For that specific assessment year, even he has not had his return cleared so far, because there were mistakes made in entering his PAN by the bank in one case, and in another case, instead of paying amount to Govt as TDS, it was credited as self assessment tax for the previous assessment year ( First information was courtesy IT department, the second was courtesy TIN agent.) The beauty is that no one is authorised to correct the mistakes, not even the commisioner in charge, though no one in the IT department will say so.
The last information was courtesy TIN agent.

From what my relative has heard, the concerned ITOs have been told to settle such cases. The files are in the process of being transferred to them from the central processing cell, and hopefully the files would be transferred by end of July this year.

I have been taking him every where , so the information I am giving you is first hand and not hearsay.

Best of luck.

Last edited by mgh : 31st July 2012 at 23:21.
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Old 1st August 2012, 00:02   #237
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Default Re: All Income Tax Queries (refunds, disputes, rates etc...)

MGH
Hi
Thanks a lot for your informative post.Everything makes sense the way you have put it.
Once my daughter met the concerned AO and he told her that there was no credit for that year in spite of the fact that form16 A were issued and they have deposited the sum deducted.
A couple of weeks back I read in the Economic Times that a memo has gone out that in such cases viz where the 16 A has been issued and it shows that the amount has been deposited the AO has to accept the form at face value and pass refund orders.
In the meanwhile will wait for a few days before escalating.My question is who do I escalate to?
What angers you that there is no reply whatsoever to earlier letters.Even the website for refunds is not user friendly.It just gives the answer contact your AO.
I tried getting info from TIN website,again user unfriendly.They have specific colums for complaints but no such column for this type.
Once again thanks a lot.
Regards
PS.For the time being would avoid meeting the AO as do not want to show keenness.
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Old 1st August 2012, 01:51   #238
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Default Re: All Income Tax Queries (refunds, disputes, rates etc...)

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Originally Posted by mjothi View Post
Me too waiting for a response on this. Any one have more info into this?
Quote:
Originally Posted by Su-47 View Post
This years ITR-2 has a section to declare foreign assets.

I understand that a lot of US-MNCs grant stocks to employees in India (stock-grants and/or stock-purchase via salary deductions). Does one need to declare these as foreign assets?

Cheers,
Su-47
Just got information from our company that we should be filling in the details for any RSU, ESPP or ESOP details in the TR_FA. Those who already just filed it without these info, needs to file a revised one.

Last edited by mjothi : 1st August 2012 at 01:55.
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Old 1st August 2012, 10:51   #239
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Default Re: All Income Tax Queries (refunds, disputes, rates etc...)

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Originally Posted by mjothi View Post
Just got information from our company that we should be filling in the details for any RSU, ESPP or ESOP details in the TR_FA. Those who already just filed it without these info, needs to file a revised one.
Thanks! RSUs and ESPP are fine, but how does one value ESOPs?
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Old 1st August 2012, 11:19   #240
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Default Re: All Income Tax Queries (refunds, disputes, rates etc...)

A colleague with an income in excess of 10L filed a paper application yesterday which was accepted.

What should he do now? e-file or sleep over it.
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