IT Return
This query is : Resolved
13 April 2010
I am working for a private limited company.
For the F.Y 2009-10, My net income after all deductions(sec 10, 80C and 80D) comes to less than Rs 160000 as per my company workings in the payslip.
But later on in April 2010 it is discovered that there were some errors in the tax calculation and the revised workings comes to Rs 182500 for which Tax should have been deducted at source.
Now as per the old calculations tax is not deducted at source for FY 2009-10.
Now How should I pay the tax and file my return? Should I file a return under self assessment and pay tax personally as per the revised workings.
Note: This is the first time I pay tax and file returns and I have applied for my pan card last month only.
For the F.Y 2009-10, My net income after all deductions(sec 10, 80C and 80D) comes to less than Rs 160000 as per my company workings in the payslip.
But later on in April 2010 it is discovered that there were some errors in the tax calculation and the revised workings comes to Rs 182500 for which Tax should have been deducted at source.
Now as per the old calculations tax is not deducted at source for FY 2009-10.
Now How should I pay the tax and file my return? Should I file a return under self assessment and pay tax personally as per the revised workings.
Note: This is the first time I pay tax and file returns and I have applied for my pan card last month only.
13 April 2010
dear renga
you can file IT return before July 31 declaring your revised salary and also you can claim your invetment u/s 80 in retun.
calculate final tax liability and pay self assessment tax
Attach revised form 16 with ITR
Regards,
shraddha
you can file IT return before July 31 declaring your revised salary and also you can claim your invetment u/s 80 in retun.
calculate final tax liability and pay self assessment tax
Attach revised form 16 with ITR
Regards,
shraddha
13 April 2010
Now you have to fill up correct details of salary in your ITR and pay self assessment tax. There is no need to attach Form 16. Only details filled and submit it online.
13 April 2010
u can make the necessary changes while deciding the final tax liability and than as per the new calculations u can file ur return.
CA Ashok Kumar Sahu
(Expert)
13 April 2010
agree with expert
14 April 2010
Thanks for you replies.
I was trying to e file my return via.. incometaxefiling.gov.in; where in I need to convert the IRT1 to xml format and upload it ( E filing without Dig signature - ITRV). But the ITR 1 form downloaded from the website is password protected which cannot be converted to xml.
What should I do?
I was trying to e file my return via.. incometaxefiling.gov.in; where in I need to convert the IRT1 to xml format and upload it ( E filing without Dig signature - ITRV). But the ITR 1 form downloaded from the website is password protected which cannot be converted to xml.
What should I do?
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