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Income tax deducted as rs.50226

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Amnesh kumar (process associate) (41 Points)
Replied 13 April 2016

and also tell me that after filling income tax return ,how much time it will take  for refund



Tribhuvan Aditya Singh (Student as well as Self-employed)   (3710 Points)
Replied 13 April 2016

yes, its for sure that you will get your refund. tds will be updated by your co., so if they delay in doing so then obviously it will not be updated within time. be in touch with your co. regarding status of your updation process.

Tribhuvan Aditya Singh (Student as well as Self-employed)   (3710 Points)
Replied 13 April 2016

refund time depends on i.t. dept. , no one can be sure of timing. i have seen refunds being processed in 5 days and also in more than a year.

Amnesh kumar (process associate) (41 Points)
Replied 13 April 2016

after filling the  income tax return,how much time it will take for refund


Amnesh kumar (process associate) (41 Points)
Replied 13 April 2016

thanks sir you have been very helpfull to me  




U S Sharma (glidor@gmail.com) (21056 Points)
Replied 13 April 2016

dont get in panic

convey your pan card copy with a request to file the TDS return with your pan details to your employer, 

in form 16 they will issue TDS amount and will handover a TDS certificate with unique TDS certificate no issued by NSDL 

file your ITR and claim the refund as per TDS certificate, send ITRV to CPC or verify the same with OTP,  if everything is in order, then department does not hold the refund orders, and process ITR as well as refund order within few weeks 

1 Like

Amnesh kumar (process associate) (41 Points)
Replied 13 April 2016

sir i am unable to understand this line "send ITRV to CPC or verify the same with otp

plz give  me info for the same 


U S Sharma (glidor@gmail.com) (21056 Points)
Replied 13 April 2016

after filing the Income Tax Return ( everything is now online) the acknowledgement is called ITRV, you have to sign it and send to CPC bangalore, to confirm that the return is uploaded by yourself, 

you can also verify the same with OTP generated by incometaxefiling site/ or login into netbanking of yourself where your PAN is registered with bank, 

in absence of verification of return uploaded, department will not process. 

--------------------------------

another point to be mentioned, 

as your gross salary is exeeding the threshold limit, and if you have not invested anywhere in 80C/80D or NPS then a part of salary would get taxable and only part of TDS would get refunded, actual calculation would appear at the time of entering the amounts in ITR and calculating TAX before submission to incometax department 


U S Sharma (glidor@gmail.com) (21056 Points)
Replied 13 April 2016

CTC is not the amount which is subjected to tax, steady  there are certain deductions made , and gross amount is subjected to offer for income tax purpose,

including the interest in savings bank/ FD/ and other income which is not related to your company salary 


Amnesh kumar (process associate) (41 Points)
Replied 13 April 2016

sir plz suggest me that i can do it by myself or it will be good to give this case to a CA




U S Sharma (glidor@gmail.com) (21056 Points)
Replied 13 April 2016

though the replies are made on the basis of "salary"which means that there is an ëmployer- employee relation between the payee and receipent, but i think that your query is not fulfiling the criteria of employee- employer relationship.

if the TDS is to be deducted on salary then section 192 applies where threshold limit is always deducted by the employer. and TDS would get deducted on the amount after the threshold limit only 

please ensure that you are in muster roll of the employer or not, if not then its not salary but professional service or contract work and TDS would go in section 194C or 194J, wherre the provision of 20 percent is mandatory without pan card 


Amnesh kumar (process associate) (41 Points)
Replied 13 April 2016

sir i am  working in Genpact India private limited and my CTC is Rs. 248000 and  payroll team told me that 20% of ctc got deducted for tax because pan no is not updated 


U S Sharma (glidor@gmail.com) (21056 Points)
Replied 13 April 2016

look at your payment slips  

if EPF / ESI/ Profession tax (deduction component) is present then you are in muster roll

if not then they treat you as contract worker 


Amnesh kumar (process associate) (41 Points)
Replied 13 April 2016

if u want i can attach salary slip




U S Sharma (glidor@gmail.com) (21056 Points)
Replied 13 April 2016

its between employer and employee, as TDS u/s 192 have certain limitations and employer has to consider the threshold limit ( provided the employment is present for full year i.e from 01/04/2015) 

look into your employment terms and conditions, salary slip is just a ready reconer to trace out the differances 

However in case of contract work, payment over 30000/- in single  time or over 75000/- during the year ( for 194J professinoal  fees  over 30000/- during the year in single or multiple trasactions) TDS is applicable, and in these both sections 194C and 194J without pan , TDS is deducted @ 20% on full amount 

TDS refund is not a very cumbersome process, but before that you have to be familier with your income source type and type of return to be filed, as wrong filing will fetch no results 



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