Income tax return has been selected under risk management process

Page no : 84

Sssss (Learner) (1845 Points)
Replied 16 April 2020

It’s up to you when you know that you have raised the claims falsely and not want to revise the return. You have to face the consequences.No one will help you at that time.

Sssss (Learner) (1845 Points)
Replied 16 April 2020

It’s up to you when you know that you have raised the claims falsely and not want to revise the return. You have to face the consequences.No one will help you at that time.

Saif (Accounts) (824 Points)
Replied 16 April 2020

Originally posted by : Shiva

hi Shiva

How come you know that those return are going to be processed within 5 to 6 days time?

Hi Ch P Jana ,

These returns will be processed in 5 to 6 days but based on accuracy of your return.

Sssss (Learner) (1845 Points)
Replied 16 April 2020

Dear friends, If you already know that the returns filed are not correct, there is nothing wrong in revising it.nobody will come to rescue if your return is found defective or scrutiny notices is issued. Kindly revise your return

Sssss (Learner) (1845 Points)
Replied 16 April 2020

I guess there are only 2 lakh returns pending for ay 19-20 and in that 1.74 lakh returns are having outstanding tax demand and the moment the tax payer responds to that, it will be released immediately

Ch P Janadeo (69 Points)
Replied 16 April 2020

Hi Sheena,

Thanks for your updates, any idea if any one who responded to risk management notices received their refund?

I submitted option 1 on Wednesday night but still no update/action taken on my ITR?

Thanks

Siva Appikonda (Chartered Accountant) (175 Points)
Replied 16 April 2020

Dear All Please note that this is not Scrutiny or any other assessment procedure. There is no need to be worried in this regard. You should just follow the instruction given in the E Mail and submit your response. No body is aware in respect of this Risk Management Process because as such there is no specific provision in Income Tax Act 1961, But the ITO may seek any information for better clarity and understanding regarding the Assesses or any other person under various sections of Income Tax Act. This E Mail has been shoot by Compliance Management Team of Income Tax Department. You may get in touch with them through Toll Free No. 18001034215 or may go to the website https://report.insight.gov.in/reporting-webapp/portal/homePage. I have Inquired the same and they replied through an another E Mail that "This is a campaign mail for submitting response under Claim of Refund in your Income Tax Return" Well at present the conclusion is that there is no need to be worried as this is not an assessment procedure of Income Tax Department. Regards CA Siva Appikonda

Ph no 8522857008

Siva Appikonda (Chartered Accountant) (175 Points)
Replied 17 April 2020

Hi Rakesh,

Please recheck once again I think you claimed excess/shortr excess which is not available in your form.

Siva Appikonda (Chartered Accountant) (175 Points)
Replied 17 April 2020

Hi Rakesh,

Please recheck once again I think you claimed excess/shortr is tds which not available in your 26AS.

Siva Appikonda (Chartered Accountant) (175 Points)
Replied 17 April 2020

Hi Mr.PCH

I hope you are following the updates given by the Government.Please check Nirmala Sitharaman's recent announcements

Siva Appikonda (Chartered Accountant) (175 Points)
Replied 17 April 2020

Dear Tax Payers,

Don't be panic,

There is nothing to worry about this...We have seen lots of cases like this.. Please do reach us..We will solve your issues.

I can see in the comments box that some people are just panicking you to grab more money.

Please do reach me,I will explain you clearly.

CA Siva Appikonda

8522857008

Sssss (Learner) (1845 Points)
Replied 17 April 2020

@ shiva Who is grabbing money? This forum is for sharing your experience and give your suggestions. The best thing one can do in these difficult times is to advise properly, when the person is saying that he tweeked the returns, they one should advise that person to revise the return and put the correct facts.

Sssss (Learner) (1845 Points)
Replied 17 April 2020

I appreciate your concern to help others in these difficult times and I request everyone to share your experiences, concerns and suggestions here. Kindly Don’t use this forum for monetary benefits.

Siva Appikonda (Chartered Accountant) (175 Points)
Replied 17 April 2020

Hello Sheena,

Why are you bothering me,

Did I mentioned your name, please don't comment without knowing whom I have kept the message..If you are feeling that you are the one which my message relates , then there is nothing wrong in it.

So don't bother me.

Please do your work,and I here to just address Taxpayers queries not to argue.

Thanks.

Siva Appikonda (Chartered Accountant) (175 Points)
Replied 17 April 2020

No comments... Please do your returns properly first,cause you are one who telling that your returns not processed and you are blaming IT department.File properly definitely your returns will get processed and refunded.

Please feel free to call if you have any queries reach my office @ ICOMM building, Srinagar colony, Hyderabad.

My number 8522857008

CA Siva Appikonda

1 Like