Query ?? demand notice of lic agents .

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2000 Points Joined June 2012

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 .

 

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On 22 May 2017 at 23:50 Report
Replies (19)
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Chartered Accountant
86505 Points Joined April 2011
Yes it will but u have to clear ur outstanding demand soon either u can apply for rectification or u will pay it
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On 23 May 2017 at 00:11
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2000 Points Joined June 2012

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

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On 23 May 2017 at 00:13
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"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

 

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On 23 May 2017 at 11:13
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Chartered Accountant
86505 Points Joined April 2011
Then u can wait it will automatically adjusted from subsequent year refund
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On 23 May 2017 at 12:17
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2000 Points Joined June 2012

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

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On 23 May 2017 at 15:29
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2000 Points Joined June 2012

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 .

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On 23 May 2017 at 15:35
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2000 Points Joined June 2012

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

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On 23 May 2017 at 15:40
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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.

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On 23 May 2017 at 16:14
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2000 Points Joined June 2012

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 .

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On 23 May 2017 at 16:29
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Specialist Standard Chartered Global Bu
169 Points Joined June 2015
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
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On 23 May 2017 at 16:49
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2000 Points Joined June 2012

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 . 

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On 23 May 2017 at 17:01
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Chartered Accountant
86505 Points Joined April 2011

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.

 

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On 23 May 2017 at 17:06
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Specialist Standard Chartered Global Bu
169 Points Joined June 2015
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
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On 23 May 2017 at 17:12
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2000 Points Joined June 2012

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 ? 

 

 

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On 23 May 2017 at 17:30


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