[itwasntme]

Originally Posted by JediKnight

Since it is accounted for in ITR i am going to ignore the message.

My personal take is do not ignore it. Is there a scope to e-respond with your explanations? If there is, explain with backup what this high value transaction is. Always better to commit formally than ignore.

[adithya.kp]

I got an ITR intimation (143) about a month ago. I noticed it today. But nothing happens when I click on pay button. I called up the customer care and wasted a lot of time clearing cache etc. Now I realised, we cant pay there after a month. But they do have an option to respond with challan no etc.
So, looks like I need to pay the tax directly. Which section should I select? Is it 280? Which sub section under 280?
Thanks.

[thanixravindran]

Does anyone know till when the TCS that is collected during car purchase shall be credited by a car dealer into the Income tax department? Is it till the quarter end or some time allowed in April also like TDS?

[sunilch]

Need guidance on:

1) What is required?
2) What is the recommended?

in relation to property purchase and declaration of the same when filling your returns.

The property purchase in question is under 50L and so is the income of the assessee.

Tax experts - please guide.

[shipnil]

Originally Posted by adithya.kp

I got an ITR intimation (143) about a month ago. I noticed it today. But nothing happens when I click on pay button. I called up the customer care and wasted a lot of time clearing cache etc. Now I realised, we cant pay there after a month. But they do have an option to respond with challan no etc.
So, looks like I need to pay the tax directly. Which section should I select? Is it 280? Which sub section under 280?
Thanks.

I believe it is section no. 280 and (400) Tax on Regular Assessment for the additional tax demand.

[adithya.kp]

Thanks. I did that and then entered the details in the IT site. Since I have paid the entire amount, it shows due amount as 0. But the save button grayed out and it gives the link to pay tax. ( which is 0). Anyone else faced this issue?

Originally Posted by shipnil

I believe it is section no. 280 and (400) Tax on Regular Assessment for the additional tax demand.

[raksrules]

This year, for the first time, I am filing taxes myself but through my CA. Until last year, my dad would file for me through the same CA. But then, my dad would ask me for salary slips and other stuff. Since this year I am doing myself, I want to be sure I provide everything the CA needs for properly filing taxes and calculating them. I am listing all the things that I think I will need to provide the CA for proper calculation.

I understand that the 26AS and AIS from the income tax portal will also have the info but I want to make sure I provide everything.

1. All my salary slips. I understand that tax here is already deducted by my employer but I will still give.
2. Interest statement from each bank where I have account. I understand cumulative interest after first 10K is taxable at my slab rate.
3. Capital Gain statement from my broker's website. Here, my broker's website has only amounts (gain / loss). I guess it is my responsibility to check what tax rate to be applied. Like if it is LTCG on sale of shares it is 10% and if it interest from some investment, it may be slab rate and so on, right?
4. Capital gain statement from CAMS / Kfintech or from each of the mutual fund houses where I have invested and possibly sold / switched any mutual fund in last financial year.
5. Information about any dividends received throughout the year on shares held.
6. Fixed deposit interest realized in the financial year.
7. Interest received from bond maturity, if any.
8. Interest received from holding any bond which pays monthly, quarterly or yearly. This includes even sovereign gold bonds.

Is there anything else I am missing that I should cross check in the Form 26AS and AIS and provide to my CA?

[whitewing]

Originally Posted by raksrules

Is there anything else I am missing that I should cross check in the Form 26AS and AIS and provide to my CA?

- Donations that are eligible for excemptions
- If you want to file under the old regime, the deductions you want to claim (80C etc).Investments NPS.

[raksrules]

I contacted the CA through which my dad always files ITR and his assistant tells me he needs "Tally Data" as my dad always provides that. The thing is, since I don't use Tally, getting tally data requires me to provide all my data to my dad and he feeds into Tally and provides something to that CA.

But now that I am managing this, I don't want to do this. I myself maintain everything in excel and I myself download all sorts of capital gain statements and FD interest statements and Saving interest statement etc. and intend to provide to the CA.

With all this info, can I file ITR myself ? Please be aware there may be mutual fund redemptions, switches, bond maturity and so on and not sure if I can do all that myself so need a CA.

Also, not sure if allowed to ask but if anyone has recommendation of any CA in Mumbai western region, it would be great so I can see how much they charge and how to avail their service.

[binand]

Originally Posted by raksrules

With all this info, can I file ITR myself ? Please be aware there may be mutual fund redemptions, switches, bond maturity and so on and not sure if I can do all that myself so need a CA.

Generally mutual fund houses, brokerages/DPs, banks etc. all provide a reporting system from which you can download your tax calculation in various formats (Excel, CSV, PDF...). These are usually structured in such a way that you just need to copy/paste numbers into the right fields in the ITR. See if this works for you. Explore the "Reports" section.

[Fx14]

Originally Posted by raksrules

I myself maintain everything in excel and I myself download all sorts of capital gain statements and FD interest statements and Saving interest statement etc. and intend to provide to the CA.

With all this info, can I file ITR myself ?

If you are already maintaining all details in excel, you can surely file it yourself.

Under most sub-heads you have to provide the total amounts only (which should be available from your excel). The only place that requires transaction level details is Grandfathered LTCG (if you have any).

[raksrules]

Originally Posted by Fx14

If you are already maintaining all details in excel, you can surely file it yourself.

Under most sub-heads you have to provide the total amounts only (which should be available from your excel). The only place that requires transaction level details is Grandfathered LTCG (if you have any).

So even if I want to attempt to file myself, where should I go and try? Cleartax or income tax's website itself?
Also I noticed that the AIS from income tax website is not fully updated yet. Like some interest received between Jan-2022 and Mar-2022 are not reflecting.

[binand]

Originally Posted by raksrules

So even if I want to attempt to file myself, where should I go and try? Cleartax or income tax's website itself?

I file using the software provided by the IT department. The Excel version originally, then the Java version and last year I filed using Infy's much-maligned online portal.

Originally Posted by raksrules

Also I noticed that the AIS from income tax website is not fully updated yet. Like some interest received between Jan-2022 and Mar-2022 are not reflecting.

I think they all (banks etc.) have something like 6-8 weeks to do the paperwork.

[dailydriver]

Originally Posted by raksrules

So even if I want to attempt to file myself, where should I go and try? Cleartax or income tax's website itself?
Also I noticed that the AIS from income tax website is not fully updated yet. Like some interest received between Jan-2022 and Mar-2022 are not reflecting.

Stick to the official IT website. Will take a while to get hang of the things, but you will learn the ropes soon.

Have you already got your Form 16 from the employer?

AIS shouldn't be seen as the sole and final source of data. You can request for updating it wherever you find some entries missing.

[raksrules]

Originally Posted by dailydriver

Stick to the official IT website. Will take a while to get hang of the things, but you will learn the ropes soon.

Have you already got your Form 16 from the employer?

AIS shouldn't be seen as the sole and final source of data. You can request for updating it wherever you find some entries missing.

No form 16 yet. But I can at least start filing for my wife who is home maker but does have FD Interest, saving bank account interest and capital gains from selling / switching of mutual funds and such.


Btw for someone (salaried / home maker) with capital gains to show and Income under 50L, it will be ITR-4 Right?