[Fx14]

Originally Posted by dailydriver

220(2).

The mail states that the demand was initially raised in March 2012 (well under three years of filing). But what the department was doing (or not) all these years is a mystery .

Obviously, the assessee has no memory or documents regarding the 2012 demand. ITRs were filed manually then and hence the portal too doesn't have any records.

So, they are probably entering all the outstanding manual demands now onto the portal for better tracking and recovery.

They did not want to spend their precious man-hours in tracking small amounts over the years. They have now found yet another productive option of the portal by going digital.

[aspire]

Hi,
I am an NRI, and do share trading using ICICI securities, earlier I had an Indian DEMAT, got myself a NRO account and any fresh purchase is done through that account. My CA couldn't figure out why ICICI has deducted close to 88546.02 under section 195, I have attached a screenshot of my 26AS, I have never held shares of ICICI Securities, they are my DEMAT operator only.
Regards
Shailesh

[binand]

Originally Posted by aspire

Hi,
I am an NRI[...] My CA couldn't figure out why ICICI has deducted close to 88546.02 under section 195

I think anyone who pays out any money to a non-resident is required to do TDS at prescribed rates (10% if professional fees, 20% in all other cases). Isn't avoidance of this deduction the reason for the existence of tax residency certificates?

[whitewing]

Originally Posted by dailydriver

220(2).

Attachment 2339878

The mail states that the demand was initially raised in March 2012 (well under three years of filing). But what the department was doing (or not) all these years is a mystery .

Obviously, the assessee has no memory or documents regarding the 2012 demand. ITRs were filed manually then and hence the portal too doesn't have any records.

I think if there is a demand, they would have sent it by post initially.
Have had a similar experience, In 2008 I had to refile, since my CA had made a mistake in the numbers. At that time it was all paper forms.
The acknowledgement was a rubber stamp on the ITRV, and it so happened, that the re-file returns were never considered and I received the demand ~2015, a full 7 years after the filing.
Thankfully I had the records, and they withdrew the demand eventually (last year) i.e ~5 years (and multiple complaints) after the demand was contested.
The good thing is, they gave 8% on the contested amount deposited by me :-)

Since it may be difficult to provide records, given that this a decade and a half old, I would suggest that the amount be paid right away (this avoids, compounding of the demand due to interest charges).

While paying the demand amount, one can still "disagree with the demand".
Essentially meaning we can contest the demand amount, but the penalty on the interest amount ceases.

[dragonfire]

I managed to file the return by the due date. But since I had tax to be paid, I clicked on the "Pay now" link and went ahead and made the payment using netbanking. However after the transaction was successful the amount still didn't reflect in the income tax efiling website. Since I didn't want to miss the deadline, I then selected the "pay Later" option and submitted the return.

Now, is there a way for me to update the payment in my ITR? I have the chalan receipt but unable to find an option to enter the details. In the tax paid page, it is showing a blank list.

Please help.

[JayKis]

Originally Posted by dragonfire

I managed to file the return by the due date. But since I had tax to be paid, I clicked on the "Pay now" link and went ahead and made the payment using netbanking. However after the transaction was successful the amount still didn't reflect in the income tax efiling website. Since I didn't want to miss the deadline, I then selected the "pay Later" option and submitted the return.

Now, is there a way for me to update the payment in my ITR? I have the chalan receipt but unable to find an option to enter the details. In the tax paid page, it is showing a blank list.

Please help.

It takes a couple of days for the transaction to be updated on the income tax website. Alternatively, you can manually update the self assessment tax paid by you in your ITR return and file.

My payment was not getting reflected and hence manually updated the tax paid with the challan number and other details and filed it.

It has been assessed by the IT department and there was no demand.

[thanixravindran]

Originally Posted by dragonfire

I managed to file the return by the due date. But since I had tax to be paid, I clicked on the "Pay now" link and went ahead and made the payment using netbanking. However after the transaction was successful the amount still didn't reflect in the income tax efiling website. Since I didn't want to miss the deadline, I then selected the "pay Later" option and submitted the return.

Now, is there a way for me to update the payment in my ITR? I have the chalan receipt but unable to find an option to enter the details. In the tax paid page, it is showing a blank list.

Please help.

You need to file revised return and it is the same process like first time return at least for ITR 1. Edit the taxes paid section with self assessment tax details and make it no tax no refund return and file. If the IT processing happens before that, there will be a demand notice as well. Please upload the challan and respond to the demand notice apart from filing revised returns.

[dragonfire]

Originally Posted by JayKis

you can manually update the self assessment tax paid by you in your ITR return and file.

Thank you for your response.

Now that I have already filed the return by selecting the "Pay Later" option, I cannot modify the original return right? So does it mean that I have to file a revised return? If yes, is there a way to copy the data from old return onto the revised return form? I can't even imagine filling up all the capital gains forms again.

Originally Posted by thanixravindran

You need to file revised return and it is the same process like first time return at least for ITR 1. Edit the taxes paid section with self assessment tax details and make it no tax no refund return and file. If the IT processing happens before that, there will be a demand notice as well. Please upload the challan and respond to the demand notice apart from filing revised returns.

If I file a revised return today, that means I have missed the deadline right? So would it be wiser to wait for a tax demand, and when the demand is made, provide the details of the challan?

[thanixravindran]

Originally Posted by dragonfire

Thank you for your response.

Now that I have already filed the return by selecting the "Pay Later" option, I cannot modify the original return right? So does it mean that I have to file a revised return? If yes, is there a way to copy the data from old return onto the revised return form? I can't even imagine filling up all the capital gains forms again.



If I file a revised return today, that means I have missed the deadline right? So would it be wiser to wait for a tax demand, and when the demand is made, provide the details of the challan?

Nope, you have filed the original return within timeline and no penalty applies. As far as I know, there is no penalty on revised return as it is just a correction without any tax liability. Till last week the processing was super fast and demand notice was slapped immediately within hours. But given the load in last few days, it may be few days to get the notice.

[Newtown]

Folks - I need your help. I have the following situation:

1. Person was born in India
2. Been in the US now for about 12+ years
3. Became a US Citizen about 4 years back

Is there some new rule in which this individual needs to also file taxes in India ?

Can you please advise

[binand]

Originally Posted by Newtown

Is there some new rule in which this individual needs to also file taxes in India ?

The only thing that matters is whether you are a tax-resident in India or not.

If you are, then your worldwide income is taxable in India.
If you are not, then only the income you earned in India is taxable in India.

(It ought to be that simple, but it is complicated by a number of considerations which are too numerous to list here. If you are affected by these considerations you should approach a tax consultant).

[Newtown]

Originally Posted by binand

The only thing that matters is whether you are a tax-resident in India or not.

If you are, then your worldwide income is taxable in India.
If you are not, then only the income you earned in India is taxable in India.

(It ought to be that simple, but it is complicated by a number of considerations which are too numerous to list here. If you are affected by these considerations you should approach a tax consultant).

Thank you, I appreciate your response. Bottom line one needs to determine if they are tax resident of India in that assessment year.

[binand]

Originally Posted by Newtown

Bottom line one needs to determine if they are tax resident of India in that assessment year.

That's where the complications start. In India it is not a straightforward "if you lived in India for N days or more you are tax resident here". Here's a primer:

https://cleartax.in/s/residential-status

[Habanero City]

Originally Posted by sdp1975

My wife's ITR refund failed. The reason given was that PAN isn't linked to the bank account chosen for refund. I don't see how this is possible since the AIS shows the interest income from that account, and therefore the bank acount must be linked to the PAN. I tried to revalidate the account but that isn't working.

Anyone faced this issue ?

Yes, the same thing happened to me.
However I could see that the ITR was processed and 143(1) was downloadable and I did that.
Now that link has disappeared.
The E-mail mentioned that I have to request for re-issue of refund from the web site, but such as link is yet to be uploaded by the department.
So now I don't know the status or the action being taken and have no option but to wait it out

[Engine_Roars]

My last assessment year's return was filed on 7th of July 2021 & still has not been processed, neither is the current year's. Is any one else in the same boat? I have raised number of complaints but have not had any satisfactory response, even went ahead & raised a complaint on pg portal but no action what so ever.