In fact there should be provision to claim TDS refund without filing IT Return as sometimes Filing Return is more costly that refund amount. At the most claimant should be asked to file an Affidavit that he has no taxable income. more
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..................................... Kanaklata would like to stay in touch on LinkedIn. Kanaklata Mishra Gynaecologist at Govt. of India Sirohi Area, India View profile https://www.linkedin.com/comm/in/kanaklata-mishra-a8023b71?trk=eml-guest-invite-pprofile-link-cta&trkEmail=eml-invite_guest-null-418-null-null-uhjl90%7Ejfqt5310%7E4o-null-neptune%2Fprofile%7Evanity%2Eview&lipi=urn%3Ali%3Apage%3Aemail_invite_guest%3BdzNkKpKUQxmT7Xk84ZjKNg%3D%3D Confirm that you know Kanaklata https://www.linkedin.com/comm/start/accept-invitation?sharedKey=lbZ64Dpv&invitationId=6299536742311653392&trk=eml-guest-invite-cta&trkEmail=eml-invite_guest-null-416-null-null-uhjl90%7Ejfqt5310%7E4o-ssuw-start%7Esignup%7Ewarm&lipi=urn%3Ali%3Apage%3Aemail_invite_guest%3BdzNkKpKUQxmT7Xk84ZjKNg%3D%3D ..................................... Unsubscribe: https://www.linkedin.com/e/v2?e=uhjl90-jfqt5310-4o&t=lun&midToken=AQFmrFVhGEd36Q&ek=invite_guest&li=426&m=unsub&ts=unsub&loid=AQF9K5H-dG3rfAAAAWKlUEqgdt2Xqr3tnI-RSZzxynGQ9CoPnJf3UWuKVlVw283f9WMeHUl7rlsoMGuYdXhFG9_Ia5Q7ojYGiQ0DJOkxRhxVaoq9zrLYUpTIPT92BNBg3MPIwPW7X5s74tEC_uuygnkWhp4cWguvEDtb&eid=uhjl90-jfqt5310-4o Help: https://www.linkedin.com/e/v2?e=uhjl90-jfqt5310-4o&lipi=urn%3Ali%3Apage%3Aemail_invite_guest%3BdzNkKpKUQxmT7Xk84ZjKNg%3D%3D&a=customerServiceUrl&ek=invite_guest&li=425&m=footer&ts=help&articleId=67 You are receiving Invitation emails. LinkedIn will use your email address to make suggestions to our members in features like People You May Know. This email was sent to www.send_newpost++iybbtrgxtrvviy++mqqsgxvvmqbb@localcirclesmail.com. © 2018 LinkedIn Ireland Unlimited Company, Wilton Plaza, Wilton Place, Dublin 2. LinkedIn is a registered business name of LinkedIn Ireland Unlimited Company. LinkedIn and the LinkedIn logo are registered trademarks of LinkedIn. more
Apr 08
Filing IT return is free of cost except the internet usage cost. One can login to Income Tax e-filing website and file IT return. https://incometaxindiaefiling.gov.in/e-Filing/UserLogin/LoginHome.html. I am doing it for years. Now, even returns are authenticated by Aadhar and therefore, no need to send hard copy to IT department. Online filled return is sufficient. If one has PAN number, there is no harm in filing IT return even if he or she doesn't fall in tax bracket. Actually, all PAN holders should file their IT returns. more
Jul 01
Mr viswanath I feel she does need to file return as long as her income is below five lacks per year. Income comes out of deposits and other source of income exceeds 5 lacks per year then she has to file otherwise me need. more
Jul 01
There is another advantage which most people are not aware. In case of death due to road accident, though who are filing income tax returns in past 5 years, are entitled for a claim equivalent to 50 times the average income in those 5 years. I would request experts to confirm this. more
Jul 12
I am told even people having income below that limit have to file ITR - please clarify more
Jul 04
Shri Rasik Dagli ji, Filing the tax return need not cost a single rupee. The govt. of india site of the department of income tax gives all the facilities and guidance. There are private firms like cleartax which provide free service for filing a basic return (that means the income tax return is filed in ITR 1). Thus, there is no need for incurring any expenditure and what has been deducted can be claimed. more
Jul 01
the second aspect pertaining to the filling of tax with an analogy to cigarette - well a comparison to be on the fair side should be 'apple to apple' or similar situation. Every citizen should pay their tax towards contribution of the country. How much one should pay etc. I feel is for the government to decide. more
Jul 04
Dear Vishwanath there are two aspects to your post. I shall attempt to add value to them by sharing my opinion:
1. taking your friends and your business background as mentioned by you , you can take the help of tax return preparers (TRPs), who are appointed by the I-T department to assist income tax assesses in preparing and filing returns correctly.
2. You can locate a TRP in your area from the website www.trpscheme.com. Just enter the required information—state, city and pincode, and a list of registered TRPs in your locality will be displayed along with their TRP ID, name, address and contact details.
They are paid for each return filed based on the amount of tax paid by the assesse. The maximum amount that can be charged by a TRP is Rs.250. For further details you can contact them - so it is easy and user friendly more
1. taking your friends and your business background as mentioned by you , you can take the help of tax return preparers (TRPs), who are appointed by the I-T department to assist income tax assesses in preparing and filing returns correctly.
2. You can locate a TRP in your area from the website www.trpscheme.com. Just enter the required information—state, city and pincode, and a list of registered TRPs in your locality will be displayed along with their TRP ID, name, address and contact details.
They are paid for each return filed based on the amount of tax paid by the assesse. The maximum amount that can be charged by a TRP is Rs.250. For further details you can contact them - so it is easy and user friendly more
Jul 04
Sir, I am not a technocrat and am not very familiar with operating the computer except for email and reading newspapers in the net. I have a friend who is a small time contractor. He receives money for the work undertaken by him and employees half a dozen people to execute it. How does he submit his return it is beyond my comprehension. Please do not think I am arguing for the sake of argument. How does arrive at his personal whereas his bank account would show all the receipts against his name.
Also another question baffles me. Me and my friend are in the same business. I work for 4 hours and I am not that efficient and therefore my Income Tax is less. My friend is puts is in 12 hours of work with more diligence. That is services rendered by him is much superior than mine. I pay much less tax and he has to pay much more only because his services are far more than mine. I quote by some individual - If cigarette taxes are meant to discourage smoking, would not Income Tax discourage working or contribution to the society and national wealth. Suppose the Income Tax is sick and bed ridden and unable even to get up. How does s/he adheres to the time limit for filing of the return. Even late submission of return w/o involving any tax evasion would be visited by fine as per the latest ruling brought by our worthy FM (I am an ardent fan of Modiji). These and many more facts can be stated as to why Income Tax in the present shape, I submit should not be continued. In my view create a environment where everyone is tempted to open bank account, put a ceiling on cash withdrawal and retention of cash in hand. The bank accounts is in the region of 50 crores. Deposits now in the banks are enormous. So long the money is in the Bank as deposit it is being used for productive purposes for which the interest one gets is not sufficient even to cover inflation. In Mumbai no vegetable is available presently for less than 60-80 rupees per kilo. All I can say that withdrawals of money is enormous (I am not sure how much it is). My guess is that just a flat rate of TDS of 5-6% would generate a net revenue of more than 20-25 lakh crores (gross) at present. The actual TDS could be as low as 1% rising to 25-30% where the withdrawal (ie personal benefit). I may be wrong in my views. But fellow citizens please think it over. We would be free to contribute as much as we can and receive therefor income and as and when one withdraws money (ie for personal satisfaction/benefit) the individual is required to pay a nominal TDS starting from as low as 1%. I am no wizard but please think it over. Thanks and regards. more
Also another question baffles me. Me and my friend are in the same business. I work for 4 hours and I am not that efficient and therefore my Income Tax is less. My friend is puts is in 12 hours of work with more diligence. That is services rendered by him is much superior than mine. I pay much less tax and he has to pay much more only because his services are far more than mine. I quote by some individual - If cigarette taxes are meant to discourage smoking, would not Income Tax discourage working or contribution to the society and national wealth. Suppose the Income Tax is sick and bed ridden and unable even to get up. How does s/he adheres to the time limit for filing of the return. Even late submission of return w/o involving any tax evasion would be visited by fine as per the latest ruling brought by our worthy FM (I am an ardent fan of Modiji). These and many more facts can be stated as to why Income Tax in the present shape, I submit should not be continued. In my view create a environment where everyone is tempted to open bank account, put a ceiling on cash withdrawal and retention of cash in hand. The bank accounts is in the region of 50 crores. Deposits now in the banks are enormous. So long the money is in the Bank as deposit it is being used for productive purposes for which the interest one gets is not sufficient even to cover inflation. In Mumbai no vegetable is available presently for less than 60-80 rupees per kilo. All I can say that withdrawals of money is enormous (I am not sure how much it is). My guess is that just a flat rate of TDS of 5-6% would generate a net revenue of more than 20-25 lakh crores (gross) at present. The actual TDS could be as low as 1% rising to 25-30% where the withdrawal (ie personal benefit). I may be wrong in my views. But fellow citizens please think it over. We would be free to contribute as much as we can and receive therefor income and as and when one withdraws money (ie for personal satisfaction/benefit) the individual is required to pay a nominal TDS starting from as low as 1%. I am no wizard but please think it over. Thanks and regards. more
Jul 02
