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Old 11th October 2017, 11:41   #1261
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My sister's registered address as per her PAN card is a very old address. She wants to update the address. I checked the online site & it seems that a new card needs to be issued with updated details. Since the address is not printed on the PAN card - why is this necessary? Can't they just update the address on their records without reissuing the card? Also her PAN is linked to her Aadhaar & the Aadhaar has the right address. So why is there a need to for mailing documents of address proof - shouldn't there be an option for using the Aadhaar address in PAN?
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Old 11th October 2017, 12:36   #1262
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Originally Posted by carboy View Post
My sister's registered address as per her PAN card is a very old address. She wants to update the address. I checked the online site & it seems that a new card needs to be issued with updated details. Since the address is not printed on the PAN card - why is this necessary? Can't they just update the address on their records without reissuing the card? Also her PAN is linked to her Aadhaar & the Aadhaar has the right address. So why is there a need to for mailing documents of address proof - shouldn't there be an option for using the Aadhaar address in PAN?
There is no need to update the address in PAN. Current address can be updated online in the income tax website itself which will be used for communication from IT office.
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Old 11th October 2017, 13:08   #1263
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Default Re: All Income Tax Queries (refunds, disputes, rates etc...)

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Originally Posted by Ry_der View Post
After processing of your ITRs at CPC, You will recieve an intimation u/s 143(1) which can be of following 3 types

1. Just intimation- if your income matches the form 16AS/16 data and you dont have any refund due.

2. Refund order- if your income matches the form 16AS/16 data and you have refund due.

3. Demand order- if your income doesn't match and a demand has arisen out of Addition of income.

The time limit for such intimation is before the expiry of 1 year from the F.Y. in which ITR was furnished i.e. 31/03/2019 in our case.

Once you receive the intimation, refund gets credited to your account within 15-20 days. And yes, you will receive interest on the amount.
Thanks for the clarification. In my case the due is quite high amount so I fall in pt2. Raised a complaint with PGPORTAL today. Lets see what happens.
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Old 11th October 2017, 13:14   #1264
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Originally Posted by DieselFan View Post
There is no need to update the address in PAN. Current address can be updated online in the income tax website itself which will be used for communication from IT office.
Are you sure about this? Because she has updated the address on the IT site a couple of months back. But even now when she goes to the TRACES Site for the 26-AS form - it shows the old address.
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Old 11th October 2017, 13:24   #1265
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Default Re: All Income Tax Queries (refunds, disputes, rates etc...)

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Originally Posted by Ry_der View Post
After processing of your ITRs at CPC, You will recieve an intimation u/s 143(1) which can be of following 3 types
Thanks, I am aware of the process but worried on the duration since this is very long when compared to previous years. Presume should be due to demonetization.

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Originally Posted by carboy View Post
Are you sure about this? Because she has updated the address on the IT site a couple of months back. But even now when she goes to the TRACES Site for the 26-AS form - it shows the old address.
PAN address is used when sending refund amount (Cheque/DD) which exceeds 50K. Whenever i switch city due to work, update my address in PAN and a new card is issued. You can attach Aadhaar as one of the proof.

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Originally Posted by akshay380 View Post
Thanks for the clarification. In my case the due is quite high amount so I fall in pt2. Raised a complaint with PGPORTAL today. Lets see what happens.
Even I fall in Pt.2, but willing to wait. Keep us posted if you receive any update.

Last edited by dre@ms : 11th October 2017 at 13:31. Reason: Response to one other query..
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Old 11th October 2017, 14:47   #1266
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Thanks, I am aware of the process but worried on the duration since this is very long when compared to previous years. Presume should be due to demonetization.

Rightly said, No. of ITRs is heavily increased due to demonetization but I believe that the main culprit is the newly inserted clauses in section143(1)(a). IMO this is the reason why the CPC is taking more time to process the returns.
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Old 12th October 2017, 12:10   #1267
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Default Re: All Income Tax Queries (refunds, disputes, rates etc...)

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Are you sure about this? Because she has updated the address on the IT site a couple of months back. But even now when she goes to the TRACES Site for the 26-AS form - it shows the old address.
Traces shows the address in the PAN. It doesn't matter. Income tax office Communication address is always taken from the IT website. This I am dead sure.
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Old 12th October 2017, 12:43   #1268
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Originally Posted by DieselFan View Post
Traces shows the address in the PAN. It doesn't matter. Income tax office Communication address is always taken from the IT website. This I am dead sure.
AFAIK the most preferred address for communication is the address from the latest ITRs. Address as per PAN database is considered to be the least accurate address.

Last edited by Ry_der : 12th October 2017 at 12:44.
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Old 12th October 2017, 13:32   #1269
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Originally Posted by Ry_der View Post
AFAIK the most preferred address for communication is the address from the latest ITRs. Address as per PAN database is considered to be the least accurate address.
This was not the case in 2012 when my refund cheque went to my old address and when requested to reroute all that was said was to update my address in PAN. Still following it.

On a happier note, received my IT refund+interest today when the status is still ITR-V received

Last edited by dre@ms : 12th October 2017 at 13:34.
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Old 15th October 2017, 07:54   #1270
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Originally Posted by S_U_N View Post
For most salaried individuals, it is time to submit investment proofs to the payroll department.

Just a heads up that NPS can reduce your tax liability by an additional 50,000/- under section 80CCD (1B) per assessment year (applicable from FY 2015-16/AY 2016-17).

How many have opted for this?
If I want to invest 50K, how should I do it? Should I open an integrated Tier 1 & Tier 2 account & put 6000 in Tier 1 & 44000 in Tier 2?
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Old 20th October 2017, 11:45   #1271
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Default Re: All Income Tax Queries (refunds, disputes, rates etc...)

Quote:
Originally Posted by Ry_der View Post
After processing of your ITRs at CPC, You will recieve an intimation u/s 143(1) which can be of following 3 types

1. Just intimation- if your income matches the form 16AS/16 data and you dont have any refund due.

2. Refund order- if your income matches the form 16AS/16 data and you have refund due.

3. Demand order- if your income doesn't match and a demand has arisen out of Addition of income.

The time limit for such intimation is before the expiry of 1 year from the F.Y. in which ITR was furnished i.e. 31/03/2019 in our case.

Once you receive the intimation, refund gets credited to your account within 15-20 days. And yes, you will receive interest on the amount.
I got an SMS and also an email today under the same section. Mine falls under the second category, and i guess my refund will reach the bank in a couple of weeks.

I don't think they were sending notices under 143(1) earlier for categories 1 and 2, but only for 3, when there was a demand. But I may be wrong, as in all my previous years, I was under category 1.
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Old 20th October 2017, 12:35   #1272
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Default Re: All Income Tax Queries (refunds, disputes, rates etc...)

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Originally Posted by vnabhi View Post
I got an SMS and also an email today under the same section. Mine falls under the second category, and i guess my refund will reach the bank in a couple of weeks.
Congratulations !!
I think it will take only 3 working days. I received the SMS on last Thursday and the refund was credited on monday itself.

Quote:

I don't think they were sending notices under 143(1) earlier for categories 1 and 2, but only for 3, when there was a demand. But I may be wrong, as in all my previous years, I was under category 1.
I fall in category 2, and I receive this intimation every year.
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Old 20th October 2017, 12:41   #1273
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Default Re: All Income Tax Queries (refunds, disputes, rates etc...)

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I checked the status and it is still showing as "Successfully e-Verified". By when it is expected to be in "ITR Processed" status? Is there a deadline by which ITRs should be processed. It's been nearly 40-45 days since I filed and e-verified by returns.

Will the refund be processed only upon "ITR processed" status?

I am expecting a refund as it was self calculated while filing the returns.
I still haven't received my refund yet.

Any pointers?
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Old 22nd October 2017, 12:42   #1274
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Default Re: All Income Tax Queries (refunds, disputes, rates etc...)

Friends, need an help.

I had during AY 2013- 14 commuted my pension (1/3rd) from my previous employer upon resignation. No tax was deducted on the same by the employer. I had filed my returns not stating the the commuted pension as this is not taxable.

Today i received a mail from my previous employer stating that the commuted value of pension received from an approved superannuation fund is governed by Provisions of Sec 10(13) of the Act and is taxable if received by employee on resignation (ie prior to retirement).

Accordingly my previous employer paid Tax on my behalf and remitted tax to the Govt which is reflected in TRACES for AY 2013-14 under date of booking 09/Aug/2017

Please advise
1. If i need to submit revised IT return for AY 2013-14 ?
2. Can IT return be revised for AY 2013-14 as one year from the date of Assessment has lapsed ?
3. Ack under Sec 143 (1) received for AY 2013-14.
4. Can i show the pension as Income for the current AY and claim/adjust tax paid as the date of tax booking is on 09/Aug/2017 (but reflected in Traces AY 2013-14)?

Last edited by bnzjon : 22nd October 2017 at 12:50.
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Old 22nd October 2017, 14:28   #1275
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Default Re: All Income Tax Queries (refunds, disputes, rates etc...)

As far as address is concerned it is easier done with UID/Aadhar than with Income Taz PAN. Our son had no issues, while our DIL had a bit of bother. Her maiden surname is spelt as कारंत instead of the more common कारंथ. So she is now कारंत Gupta. Her UID was issued in Karnataka so I am not sure who goofed. However, it is a minor annoyance.
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