Query ?? demand notice of lic agents .

Efiling 515 views 19 replies

PALASH

Nothing

2000 Points Posted on 22 May 2017

In case of demand notice of LIC agents , generally i took the whole amount of demand ( with net bank charges for e- payment ) from my clients( LIC Agents otherwise not ) for the purpose of payment of that demand ,

but i never paid that demand through net banking on behalf of my clients and then i choose the option that the " demand is correct " through login id and password in e-filling site of that particular client, then the amount of that particular demand ( of earlier years ) was adjusted against subsequent year's refund amount U/S 245 .

It can be possible only when that particular client have a refund in subsequest years ( i.e, LIC agents etc ) otherwise not .

One thing you must remember that You can use this method only in refund cases only , but it was very risky for other type of clients .

I don't think that it's an illegal money taken from my clients , it's a small part of remuneration of A CA .

My question

Suppose , In case of A LIC Agent if for the AY 2017-2018 there is no refund ( i.e, no TDS IN 26AS ) for adjusting of demand ( for ay 2012-2013 ) u/s 245 , then do you think that the demand amount should be adjusted against refund for subsequent assessment years i.e, AY 2018-2019 ( if any ) ?

Thanks .

Replies (19)

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 23 May 2017

Yes it will but u have to clear ur outstanding demand soon either u can apply for rectification or u will pay it

PALASH

Nothing

2000 Points Posted on 23 May 2017

No i don't want to pay that demand , i want to adjust that demand against subsequent years .

Guest

"I don't think that it's an illegal money taken from my clients , it's a small part of remuneration of A CA ."

Didn't understand that part

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 23 May 2017

Then u can wait it will automatically adjusted from subsequent year refund

PALASH

Nothing

2000 Points Posted on 23 May 2017

Yes , that's fine , i think so, thanks a lot for ur reply .

PALASH

Nothing

2000 Points Posted on 23 May 2017

I took the amount from my clients as demand of earlier years rs 5000/ rs 10000/- rs 15000/= ( as the case may be as per demand notice ) , but in fact i didn't pay that amount as demand through net banking , ok , in fact the demand was adjusted against refund in subsequent years . So pls try to understand the amount which i have already taken as demand is still in my pocket , ok that's why i am saying that . It may be a new approach of a CA .

PALASH

Nothing

2000 Points Posted on 23 May 2017

I just want to share my views as a CA, CMA, CS , that's all , thanks a lot .

Guest

If any CA is taking amount to pay the demand from clients and then pocketing it is totally unethical, because the Client may not ask for a tax challan. He trusts the CA completely. When the demand gets adjusted with refund, he looses again.

PALASH

Nothing

2000 Points Posted on 23 May 2017

I know what is right and what is wrong , i know almost everything regarding Chartered profession ,CMA and CS profession , but i hate this kind of clients like stop filers, non filers and demand holders , ok , they should be punished at any cost , they deserve that and that's why i choose that approach and nothing else .

Ashwin Kumar Prabhakar

Specialist Standard Chartered Global Bu

169 Points Posted on 23 May 2017

Those ppl will be punished by income tax dept. why are you concerned abt it? you cannot justify pocketing money from clients like this which is totally unethical

PALASH

Nothing

2000 Points Posted on 23 May 2017

Yes i know that it's totally unethical , and i don't care about Income tax department , i don't care about ICAI , they are my clients , i will give them a lesson .

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 23 May 2017

Your approach is completely wrong, you are not only cheat your client but also disregards CA Profession. Its very shameful that you collect amt of demand from you client & instead of depositing it wait to adjust from their refunds.Demand is generally created because CA fall to do his work properly, its not a clients fault.

Ashwin Kumar Prabhakar

Specialist Standard Chartered Global Bu

169 Points Posted on 23 May 2017

This is not the way of teaching lesson to your clients. u can explain it to them that is y a client approaches CA. He seeks advice from u . As a responsible CA u shud guide them in a proper manner

PALASH

Nothing

2000 Points Posted on 23 May 2017

No ,you are wrong , it's not my fault ,

demand arises bcoz excess money ( refund ) given to my clients u/s 244A for previous years ( as an example ay 2012-2013 ) , so it's not my fault , pls try to understand .

Demand arises for non filing of income tax return , it's not my fault ,

Demand arises for stop filling , it's not my fault .

Who told you that it's my fault ?