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Excess income tax paid 0n 21st oct

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avinash chitnis

23 Points Posted on 30 October 2023

hi , this is a bit urgent

i have paid income tax on 21st oct but paid rs 340000/- extra

did not mention it in the ITR

do i need to revise the ITR or cani convert the same into advance tax for next year

Replies (4)

Quick Summary

If you've accidentally paid excess income tax and didn't declare it on your ITR, you cannot convert it into advance tax for the next year. The recommended course of action is to file a revised Income Tax Return (ITR) to claim the excess amount as a refund. The tax department will process this refund in due course.

sabyasachi mukherjee

Profession

19978 Points Posted on 30 October 2023

Pls post details. Tax liability how much???

RAJA P M

"Do the Right Thing...!!!"

77792 Points Posted on 30 October 2023

Can't convert into Advance Tax.

Better to file Revised return.

sabyasachi mukherjee

Profession

19978 Points Posted on 30 October 2023

Excess income tax paid on 21st Oct will becrefunded
in due course.

CA Raj Doshi

Practising CA

5649 Points Posted on 06 November 2023

Revise the return and claim the same as refund. Converting to advance tax is not possible.

https://m.economictimes.com/wealth/tax/how-to-correct-income-tax-challan-mistake-online-on-e-filing-portal/amp_articleshow/103394379.cms