All Income Tax Queries (refunds, disputes, rates etc...)

spookey · 13th July 2022, 11:44

Quote:

Originally Posted by redcruiser

Is the Final date 31st July even for those who need auditing?

No. For audit cases due date to file tax audit report is 30 Sept and IT return 31 Oct.

thanixravindran · 13th July 2022, 13:05

Quote:

Originally Posted by avira_tk

The tax on FD is dependent on your tax slab, so the deduction will not match the due amount in most cases. If you don't pay the remainder, interest is due.

If you pay the taxes due every year, the due amount in the year of maturity will be the tax due on interest paid in the latest financial year. This is based on tax slab. The accumulated interest method will just lead to higher taxes, as it is added to income.

Yes, Thanks, I am aware of it. For me, its 30% slab each year and hence doesn't make any difference on both scenarios. I was trying to avoid the last year interest part by deferring the tax liability itself to this year and save few hundred rupees in the interest payment. It seems complex to carry forward the part TDS in returns. So I have paid the remaining tax and interest yesterday. I guess I have to wait for few days to reflect in AIS and then complete the return filing.

TorqMaster · 13th July 2022, 13:38

Hello Everyone.

I am trying to file my tax returns using Government website. However I get an error that my name doesnt match with my PAN CARD. I have tried various permutation and combinations of First Name last Name etc. But I still get the error.

I have tried using ClearTax too. A similar error is encountered.

While the spelling of my name matches with my Aadhar card it looks like there maybe a difference in how my entire name is given in Last name or First name.

1. Any pointers on how to file myreturns with this issue being present?
2. Any method available on how to find out what is my First name and last name in my PAN card? The Card shows my entire name in one line properly. But doesnt show what is my First name and Last name . Since I received my PAN card about 15 years ago, I dont recall how I had given in the application back then.

PS: This year would be the first year I am required to file my taxes for my salary slab.

binand · 13th July 2022, 13:43

Quote:

Originally Posted by TorqMaster

2. Any method available on how to find out what is my First name and last name in my PAN card? The Card shows my entire name in one line properly.

Looks like your entire name is your first name or last name - try both. While the card doesn't show them explicitly, it does put a space between what it considers to be the first and last names.

There's a check page here: https://eportal.incometax.gov.in/iec.../verifyYourPAN

Engine_Roars · 13th July 2022, 14:01

Quote:

Originally Posted by TorqMaster

Hello Everyone.

I am trying to file my tax returns using Government website. However I get an error that my name doesnt match with my PAN CARD. I have tried various permutation and combinations of First Name last Name etc. But I still get the error.

I have tried using ClearTax too. A similar error is encountered.

While the spelling of my name matches with my Aadhar card it looks like there maybe a difference in how my entire name is given in Last name or First name.

1. Any pointers on how to file myreturns with this issue being present?

PS: This year would be the first year I am required to file my taxes for my salary slab.

If there is a mismatch, I doubt you can file the return and I am also confused how could you link your aadhaar with your PAN if there is a mismatch. System should not have allowed.

You can check your PAN details online. There is a government website dedicated to PAN.

pandey.jai · 13th July 2022, 15:40

As a salaried person with a housing loan, I have claimed my 2L limit on interest paid under the old regime. In addition to this, can I claim a deduction on the property tax paid to govt?

sunilch · 13th July 2022, 15:50

Quote:

Originally Posted by pandey.jai

In addition to this, can I claim a deduction on the property tax paid to govt?

No. That is available only in case of let-out.

TorqueyTechie · 13th July 2022, 17:12

Any recommendation for a good CA/auditor in Bangalore? Need help with filing my IT return and hence the ask.

kushagra452 · 13th July 2022, 17:24

Quote:

Originally Posted by TorqueyTechie

Any recommendation for a good CA/auditor in Bangalore? Need help with filing my IT return and hence the ask.

I took the services of a CA from Cleartax.com. My experience has been good. The CA who filed my ITR-3 was knowledgeable and cooperative. Kindly note, I am not associated with this platform. Please do your own due diligence before proceeding with on this website.

sansvk · 13th July 2022, 18:44

I have tried to fill up my ITR2 twice using the Income Tax portal. On both occasions I see no drafts saved, every time I had to start a fresh. On both occasions I fill in all details, saved and confirmed wherever applicable. Shouldn't the entries be saved?
When I tried with ITR1, I see that drafts are being saved. Any one else experiencing this or any work arounds?

The Rationalist · 14th July 2022, 11:28

Hi guys,

How does depreciation on vehicles get calculated for those who are drawing income as professional charges? For example if I buy a ₹10 lakh car and my annual professional income is ₹20 lakh.
Also how many people can be kept as employees for a professional, I mean what categories are possible? Secretary, Driver, Peon etc? Those who are willing to give professional advice can send me a private message and take up things from there professionally. Thanks in advance.

The Rationalist.

m8002? · 14th July 2022, 11:50

If someone is self-filing, try out clear tax. They charged me Rs.800/- and the experience was smooth. Upload Form 16, the PL statement from the stock broker, any other income and you are done.

The e-filing and the e-verify are all complete in a day. I think the charges are quite reasonable for the ease of use.

P.S. I am just a user of ClearTax. Not associated with them in anyway.

shipnil · 16th July 2022, 20:29

Experts, need help with couple of queries.

I am trying to file return using ITR-2 as I have some capital gains. Queries as below.

1. Do I have include the LTCG on Equity MF, if they are below Rs. 1 lakh? I included it assuming it would not be considered if it is below 1L. But the calculated tax is coming much higher.

2. I have CG in Debt (both ST and LT) as well as in Equity in ST as well. I have calculated the CG as per their respective rates like 20% for LT Debt, with indexation, 15% for ST Equity and ST Debt at my bracket. But still the amount calculated by the IT desktop application is not matching. The amount calculated by it is much higher.

Has anyone faced this issue? If yes, how did you resolve it?

NH08 · 16th July 2022, 22:15

Quote:

Originally Posted by sansvk

I have tried to fill up my ITR2 twice using the Income Tax portal. On both occasions I see no drafts saved, every time I had to start a fresh. On both occasions I fill in all details, saved and confirmed wherever applicable. Shouldn't the entries be saved?
When I tried with ITR1, I see that drafts are being saved. Any one else experiencing this or any work arounds?

I filed ITR-2 couple of days back and did not face that problem. Every time I logged in, portal asked whether I wanted to file a fresh ITR or resume work on the earlier saved one.

govigov · 16th July 2022, 22:53

So, I got an email and a snail mail stating that I need to pay additional tax for AY 21-22 FY 20-21. I had filed ITR-2 for the first time and was super careful, but missed adding interest from savings account, which was also missing for form 26AS. So I currently need to pay that. So, after paying the tax, do I need to do anything else?I think I need to re-file? What is the procedure? What forms?

If one can give me what forms and what steps to follow, I should be able to figure out the rest.

13th July 2022, 13:38	#2163
TorqMaster BHPian Join Date: Dec 2012 Location: Chennai Posts: 261 Thanked: 416 Times	Re: All Income Tax Queries (refunds, disputes, rates etc...) Hello Everyone. I am trying to file my tax returns using Government website. However I get an error that my name doesnt match with my PAN CARD. I have tried various permutation and combinations of First Name last Name etc. But I still get the error. I have tried using ClearTax too. A similar error is encountered. While the spelling of my name matches with my Aadhar card it looks like there maybe a difference in how my entire name is given in Last name or First name. 1. Any pointers on how to file myreturns with this issue being present? 2. Any method available on how to find out what is my First name and last name in my PAN card? The Card shows my entire name in one line properly. But doesnt show what is my First name and Last name . Since I received my PAN card about 15 years ago, I dont recall how I had given in the application back then. PS: This year would be the first year I am required to file my taxes for my salary slab.
	() Thanks

13th July 2022, 15:40	#2166
pandey.jai BHPian Join Date: Oct 2018 Location: Various Posts: 107 Thanked: 369 Times	Re: All Income Tax Queries (refunds, disputes, rates etc...) As a salaried person with a housing loan, I have claimed my 2L limit on interest paid under the old regime. In addition to this, can I claim a deduction on the property tax paid to govt?
	() Thanks

13th July 2022, 17:12	#2168
TorqueyTechie Senior - BHPian Join Date: Apr 2014 Location: Bengaluru Posts: 1,104 Thanked: 2,322 Times	Re: All Income Tax Queries (refunds, disputes, rates etc...) Any recommendation for a good CA/auditor in Bangalore? Need help with filing my IT return and hence the ask.
	(1) Thanks

13th July 2022, 18:44	#2170
sansvk BHPian Join Date: Dec 2009 Location: Bangalore Posts: 582 Thanked: 281 Times	Re: All Income Tax Queries (refunds, disputes, rates etc...) I have tried to fill up my ITR2 twice using the Income Tax portal. On both occasions I see no drafts saved, every time I had to start a fresh. On both occasions I fill in all details, saved and confirmed wherever applicable. Shouldn't the entries be saved? When I tried with ITR1, I see that drafts are being saved. Any one else experiencing this or any work arounds? Last edited by sansvk : 13th July 2022 at 18:45. Reason: Additional information
	() Thanks

14th July 2022, 11:28	#2171
The Rationalist BANNED Join Date: Apr 2015 Location: Kochi Posts: 924 Thanked: 7,279 Times	Re: All Income Tax Queries (refunds, disputes, rates etc...) Hi guys, How does depreciation on vehicles get calculated for those who are drawing income as professional charges? For example if I buy a ₹10 lakh car and my annual professional income is ₹20 lakh. Also how many people can be kept as employees for a professional, I mean what categories are possible? Secretary, Driver, Peon etc? Those who are willing to give professional advice can send me a private message and take up things from there professionally. Thanks in advance. The Rationalist.
	() Thanks

14th July 2022, 11:50	#2172
m8002? BHPian Join Date: Feb 2006 Location: bangalore Posts: 815 Thanked: 2,434 Times Infractions: 0/1 (5)	Re: All Income Tax Queries (refunds, disputes, rates etc...) If someone is self-filing, try out clear tax. They charged me Rs.800/- and the experience was smooth. Upload Form 16, the PL statement from the stock broker, any other income and you are done. The e-filing and the e-verify are all complete in a day. I think the charges are quite reasonable for the ease of use. P.S. I am just a user of ClearTax. Not associated with them in anyway.
	() Thanks

16th July 2022, 20:29	#2173
shipnil BHPian Join Date: Nov 2007 Location: Pune Posts: 999 Thanked: 665 Times	Re: All Income Tax Queries (refunds, disputes, rates etc...) Experts, need help with couple of queries. I am trying to file return using ITR-2 as I have some capital gains. Queries as below. 1. Do I have include the LTCG on Equity MF, if they are below Rs. 1 lakh? I included it assuming it would not be considered if it is below 1L. But the calculated tax is coming much higher. 2. I have CG in Debt (both ST and LT) as well as in Equity in ST as well. I have calculated the CG as per their respective rates like 20% for LT Debt, with indexation, 15% for ST Equity and ST Debt at my bracket. But still the amount calculated by the IT desktop application is not matching. The amount calculated by it is much higher. Has anyone faced this issue? If yes, how did you resolve it?
	() Thanks

16th July 2022, 22:53	#2175
govigov Senior - BHPian Join Date: Oct 2007 Location: Cochin!!!!! Posts: 1,691 Thanked: 1,092 Times View My Garage	Re: All Income Tax Queries (refunds, disputes, rates etc...) So, I got an email and a snail mail stating that I need to pay additional tax for AY 21-22 FY 20-21. I had filed ITR-2 for the first time and was super careful, but missed adding interest from savings account, which was also missing for form 26AS. So I currently need to pay that. So, after paying the tax, do I need to do anything else?I think I need to re-file? What is the procedure? What forms? If one can give me what forms and what steps to follow, I should be able to figure out the rest.
	() Thanks