[sgiitk]

Originally Posted by hserus

Capital gains tax later on when you sell the place is the only implication then.

Exactly. I do not think they plan to move for maybe the next decade. They are both highly qualified medicos, and there are plenty of high end hospitals in the Gurugram - Delhi area. They have their infant son in a top Gurugram school.

[gsurya]

Originally Posted by binand

Heh - just around the time Bigdata-based systems were gaining popularity. :-)

Though I'd like to see a reference that IT department is crosslinking data from RTO. As for property data - it is still largely voluntary, isn't it?

And don't know what they can get with Aadhar that they couldn't with PAN.

Now practically all property transactions, buy or lease, have to have PAN numbers. A person can have multiple PAN/TAN nos. if he is a service or businessman but only one Aadhaar, so I guess it does give a different view. And eventually all transactions will have an Aadhaar no. so I guess that will become the primary reference.

[binand]

Originally Posted by gsurya

A person can have [...] only one Aadhaar

That is of course, a mirage because of two inherent problems (one structural, one operational) with Aadhar:

1. That Aadhar will be issued to only a subset of all human beings.
2. That it is prohibitively expensive to properly authenticate using the USP of Aadhar - biometrics.

So a simple scheme to create multiple fake but usable Aadhars would involve finding people in the remaining 5.8 billion (7 billion humans less 1.2 billion eligible for Aadhar), and using their biometrics and dubious documentation. All it needs is a pliant enrollment centre operator.

[ashwinsid]

Just received my income tax refund in the form of an SBI Cheque (last year, it was directly transferred to my bank account).

Problem is, the cheque has my first name and the initial of my surname. But my bank account is FIRST NAME (full) SURNAME (full).

The cheque also mentions my bank account number.

If I deposit the cheque to my account, will the bank process it or will they ask to get a new cheque with my full surname? If so, how do I return the cheque? Thank you!

[The Rationalist]

Originally Posted by ashwinsid

Just received my income tax refund in the form of an SBI Cheque (last year, it was directly transferred to my bank account).
Problem is, the cheque has my first name and the initial of my surname. But my bank account is FIRST NAME (full) SURNAME (full).
If I deposit the cheque to my account, will the bank process it or will they ask to get a new cheque with my full surname? If so, how do I return the cheque? Thank you!

Hi ashwinsid,
It won't be an issue, if you deposit it in the same SBI branch where you have the account. As the account number is there, the money will be credited.

Regards,
The Rationalist.

[hserus]

No issues at all. Regardless of the name specified the account number is what is considered so if that is right, minor variations like first name initial instead of first name last name should be ignored.

So even if your Sbi branch is far away the nearest one should be able to accommodate you.

In future please include bank account details on the form itself so they can do a neft transfer

[ashwinsid]

@The Rationalist, @hserus, Thank you! Will deposit the cheque. However, my account is with Corporation Bank. The refund this time was sent by SBI cheque even though my account details etc were shared just like last year. Will update incase of any issues. Thanks again!

[hserus]

Originally Posted by ashwinsid

@The Rationalist, @hserus, Thank you! Will deposit the cheque. However, my account is with Corporation Bank. The refund this time was sent by SBI cheque even though my account details etc were shared just like last year. Will update incase of any issues. Thanks again!

Please check if the IFSC code for your branch was specified correctly. NEFT may have failed due to that reason.

Doesn't matter re inter bank transfer - it simply means that instead of an immediate credit as it would have been with an SBI account and SBI cheque, their cheque will take 2..3 days to clear.

[INJAXN]

Posting a query on behalf of a friend:

He was UK in 2012-13, whatever he saved there was directly transferred to his Indian bank account. He still has that money in form of FDs ( some lakhs).
Now after seeing TV advertisements on "disclosing undisclosed income", he is worried that was he ever supposed to disclose his onsite earnings to Indian Income Tax department.

[hserus]

Originally Posted by INJAXN

Posting a query on behalf of a friend:

He was UK in 2012-13, whatever he saved there was directly transferred to his Indian bank account. He still has that money in form of FDs ( some lakhs).
Now after seeing TV advertisements on "disclosing undisclosed income", he is worried that was he ever supposed to disclose his onsite earnings to Indian Income Tax department.

He was surely taxed on that UK income and has surely paid tax on the FD interest right? As his pan is linked the income tax authorities know all about it

And did he or did he not claim double taxation benefits for the transferred amount?

For this case it is best to ask a CA instead of asking on the group - his previous returns need to be scrutinized before any informed comment can be made on this subect and I wouldn't advise you to post tax returns here.

[INJAXN]

Originally Posted by hserus

For this case it is best to ask a CA instead of asking on the group - his previous returns need to be scrutinized before any informed comment can be made on this subect and I wouldn't advise you to post tax returns here.

He got no freaking idea about double taxation. Have asked him to speak to CA.

On FDs interest, he did mention those in ITRs.

[hrman]

I got this "Certificate of Appreciation" from the Ministry of Finance, CBDT, classifying me in the Bronze category for paying my taxes and filing my returns This is something new which has started from this year.

http://incometaxindia.gov.in/Lists/P...19-09-2016.pdf

[hserus]

Originally Posted by hrman

I got this "Certificate of Appreciation" from the Ministry of Finance, CBDT, classifying me in the Bronze category for paying my taxes and filing my returns This is something new which has started from this year.

http://incometaxindia.gov.in/Lists/P...19-09-2016.pdf

I got one such email too with instructions on what sort of paper to use and to use a colour laser printer to print out the certificate.

I don't have one. But I suppose I could bill the IT dept for the cost of buying a Color laser printer?

[Thad E Ginathom]

What they should do...

"Thank you for filing your returns and paying your taxes on time. Please use the enclosed voucher for a 50% discount on your taxes next year..."

Oh well, I can dream I suppose.

Which reminds me, I have still not sent my UK tax return, and if they do not get it by 31st October, I get automatic GBP100 (about Rs.9,000) fine.

[sgiitk]

I am surprised that I got a repeat of the demand for ₹186 from 2014 which I had paid over a month ago. I guess this is some clerical error.