I am a retired Wg Cdr from IAF. While paying my arrears of Pension during 2011, Bank paid me excess by around Rs. 2,00,000/-. I accordingly paid tax on it. Subsequently, the Bank has recovered the amount during 2011-12 & 2012-13. Since the excess has been refunded, how do I make my case and seek refund of IT which I paid in the highest Tax bracket during 2011-12. I have complete proof of it from the Bank in a letter form. more
For the excess amount paid by your Deptt. on which you have paid Income Tax you should ask your Deptt. to reimburse the Income Tax . For filing your return you may contact me mob.9415514541 or e mail vps_advocate@rediffmail.com more
You may also visit Income Tax office nearest to you and meet the Public Relations Officer. You may also meet your assessing officer. They will give you necessary guidance based on facts of your matter more
I have not received intimation u/s 143(1)(a). As suggested by Mr S Banerjee, I think writing a letter to the authority to reopen assessment to file a revised return appears to be the only option. Can you please advise for which year the Return needs to be revised (I presume 2011-12). I am sure IT Department has a solution to refund the wrongly paid dues because of the mistake by the Bank. Mr Subhasis Banerjee - Is it possible to have your Email ID / Mob No. My Email ID is rakeshlkapur@yahoo.com. more
The writ petition filed by the tax Bar Association before the Gauhati High Court seeking a direction from the respondent authorities to restore the old income tax portal immediately due to non- fun...
Preamble: The object of this write-up is to make Bank customers who are not well informed about Re-KYC, and activating dormant/inoperative bank dmat/account/s and use of C-KYC Many banks ...
Many banks interpret the term ‘total income’ concerning declaration in 15G/H, as any non-professional would and not as expected of them under the IT Act and due to lack of proper unders...
While retirement often comes with financial uncertainty, there are savings products that are safe and ensure guaranteed retirement income. The Senior Citizen Savings Scheme (SCSS), launched in 2004...
RBI’s directions on Auto re-designation of banking a/cs into Senior Citizen Account – No clarification offered Please peruse below the text of an important and relevant portion of ...
Higher exemption limit in tax slabs: 1. For FY 2019-20, income tax exemption limit for resident senior citizen (i.e => 60 years , < 80 years) is Rs 3,00,000, whereas the same for normal ...
As per news item in Financial Express of 10 September 2020 the refund of income tax from 01/04/2020 to 08/09/2020 is given below: • Total Refunds: Rs.1.01 Lakh Crore to 27.54 lakh taxpaye...