Many people having below taxable income in ay 22-23 and 21-22 have not filed returns of ITAX. what is their remedy now for getting refunds?
► Read Answer
Sir, The return was Originally Processed U/s 143(1). Time limit for revision has elapsed. Assessee has filed his return in wrong Form i.e. in ITR 4 instead of ITR-3 and by mistake has not disclosed his information regarding his Directorships and Shareholdings in his private limited companies, moreover some TDS credit claims were not made in the return, though the Income was properly disclosed. Rectification could not be filed. My Question is:- What remedy do the assessee has for claiming his TDS credits, which was not been claimed at all in his Original Return ? Whether the assessee can file…
► Read Answer
Dear All, I have one query: The assessment Unit of The Income Tax Department has passed order U/s 147 read with section 144 for the A.Y. 2018-19. While making assessment U/s 144, the credit of Tax deducted at Source (TDS) has not been given by the assessment unit. As a result, there is increase in income tax demand to the tune of TDS and thus interest U/s 234a is charged on total tax liability. How to apply for rectification of such order? Only Rectification of intimation U/s 143(1) can be applied for through Income Tax Portal. Appeal to CIT Appeals…
► Read Answer
The Assessee wrongly quoted the TAN in her return for the financial year 2013-14. Demand raised under sec 143-1 for the said financial year in Aug 2015. Now only she notices the demand but eight years have already passed. Now, she could not file any rectification or revision. What is the way out? Should she file the petition under sec 264?
► Read Answer
Dear Sir, Order passed by the Assessment Unit, Income Tax Department for AY 2018-19 and a Demand of Rs. 12 Lakh raised, notice of demand u/s 156 issued. Assessee is a retired employee and did not file his return for AY 2018-19. The assessee could not response to any notices issued by the Department till date as he is diagnosed with Cancer and his consultant did not inform him of the notices. My query is whether apart from revision of order u/s 264 or appeal before CIT(A), any other options available so that he can submit his responses and file…
► Read Answer
To ADMN. Regret that my query posted on the Topic, a few days ago, has thus far remained to elicit an eminent ANSWER from your inhouse EXPERT; will you please have it attended ! To Add: As per my information, in US and HK, - may be , in certain other countries as well, - unlike in India, there is no taxation of 'perquisite' - hence no TDS, by employer-company in the year in which RSU is vested. That is, unlike in India , RSU attracts tax liability (CGT) only on its 'Sale ', in the year of sale .
► Read Answer
If the assessee has filed an appeal before CIT. But now assessee has to file application for revision of order under section 264. Can assessee can do so? As withdrawal of appeal is not allowed and as per section 264(4) assessee cannot file application for revision of order if his appeal is pending before CIT(A)
► Read Answer
When an employer owns up jewellery found and seized during a search from one locker in the name of an employee , 1] can addition be made in the hands of both or either or none ? 2] Will answer 1 change if jewellery is appearing in books of employer ? 3] Will answer 2 change if only grams tally but not items ? 4] can it be treated benami property ? If yes, in whose hands ?
► Read Answer
Dear sir I have received an notice from income tax department but in that there no assessing year and with the Din no it was also not found how find as it is genuine notice
► Read Answer
refund