Excess income tax paid 0n 21st oct

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3 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

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On 30 October 2023 at 11:14 Report
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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.

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Profession Business
28246 Points Posted on 30 October 2023
Pls post details. Tax liability how much???
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On 30 October 2023 at 13:35
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"Do the Right Thing...!!!"
128157 Points Posted on 30 October 2023
Can't convert into Advance Tax.

Better to file Revised return.
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On 30 October 2023 at 17:45
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Profession Business
28246 Points Posted on 30 October 2023
Excess income tax paid on 21st Oct will becrefunded
in due course.
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On 30 October 2023 at 22:59
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Practising CA
8954 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
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On 06 November 2023 at 02:20

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