Very Urgent Tax Doubt

Tax queries 1346 views 18 replies

Hi Every Body

 

         My Father is an BSNL employee having 400000 lakhs per anum , he was not educated and dont know about IT returns , but the HR department were deducting 30000 tax for the year 2010-11. Now can i file a return for that and ask for refund , and can u please explain the proceedure to file that return, Whether it has to be signed by CA or we can file directly . Please answer me

Replies (18)
Originally posted by : saivarma

Hi Every Body

 

         My Father is an BSNL employee having 400000 lakhs per anum , he was not educated and dont know about IT returns , but the HR department were deducting 30000 tax for the year 2010-11. Now can i file a return for that and ask for refund , and can u please explain the proceedure to file that return, Whether it has to be signed by CA or we can file directly . Please answer me

if your father has PAN and form 16 issued by employee has mentioned it,  then u are eligible to file return.

for 4 lacs income per annum the tax liability is 4.lacs - 1.6 lacs = 2.4 lacs @ 10% = 24000/-

 

if pan no is not mentioned then u have nothing to do to recover TDS

You have given gross salary but you did not mention any investment under schudle VI-A of I.T. and also you did not bifurcate gross total income like HRA., TRANSPORT ALL. after computing  taxable salary than   deduct investment of schudle VI-A ... now compute tax on it.... and minus what have deducted by employer as TDS... 

you have to pay penalty of Rs.5000 U/s271F for filing return of A.Y. 10-11 i will say if refund is more than Rs.5000/- than only file return otherwise it is your wish,,,,

and for filing ITR CA sign is not necessary on ITR.........

Mr. U S Chopra,

BSNL was considerd the exempt allowances as well as 80C (PF exist 100% sure) & 80D deductions. Then why are you calculating the tax straight by 4 lakhs.

 

Mr. Pankaj,

He is asking for FY 2010-11, then why r u confusing him by saying penality of Rs. 5000/- will be raised on your father.

 

Mr. Sai Varma

If you have your father Form 16 (as per new rule of TDS, form 16 will be issued within a month after closing of FY. i.e. 31-05-2011 you will receive) and all the salary slips which received from BSNL for FY 2010-11, then try to calculate yourself (if you have knowledge about income tax return) or take help of other or share with CAclub expert or on forum. Definitely we will help you on the same.

Mr, Harpreet could you please highlight where Sai Varma mention F.Y. 10-11.... i just assume it F.Y. 11-12..

Income Tax on 400,000 for FY 2010-11 is Rs. 24,720/-

Check your investments under 80C etc

You can file the return directly. Since you don't know much of IT returns, take help of a CA.

Refund, if any, will not come immediately.

@ Harpreet

I have just tried to give him a snapshot of taxability and tax liability in straight row.

no salary would go in 4 lacs round up, neither he mentioned the standard deductions of pf / esic / pension/ HRA/ other allowances, i m doubtful about the PAN no in his form 16 as he mentioned that his father is "NOT EDUCATED and DONT know about IT Returns"

so if he post form 16 details where PAN is mentioned then only we can discuss further, as in absence of PAN straight forward 20% is deducted and which can not be get refunded in simple way.

where the max liablity is 24000, he mentioned 30000, which is the logic of my this post that his PAN is not mentioned in form 16, and tax is deducted at max rate. 

in a single straight line he was liable for 24000 max where 30000 is already deducted, what picture comes from this?

i have marked the PAN entry in his form 16, let him post the next detail and we shall surely discuss it with facts. 

without facts to criticize any member is unfortunate...........

 

view of other members are welcome

I agree with Mr.Sharma.He has genuinely tried to help out and it would be very unfair to cast aspersions on his intention.He was merely trying to simplify matters and explain to Mr.Varma that BSNL has certainly deducted excess TDS but in the absence of a valid PAN,not much can be done.

Mr.Varma,it is imperative that you obtain a PAN for your father immediately.You will appreciate that in the absence of a PAN,you can't do much-including filing of a Return.

@ saivarma 

pls provide detail of rs. 400000.........

and also if any income from other then salary........and saving info.

BSNL is giving away Rs 400000 lakhs package to people that aren't educated..!! O_O

Chaddo pare CA ko fir..!!
BSNL mai job dekhte hai koi..!! :P

Originally posted by : Sanchit Gupta

BSNL is giving away Rs 400000 lakhs package to people that aren't educated..!! O_O

Chaddo pare CA ko fir..!!
BSNL mai job dekhte hai koi..!!

Yes I m with you brother,but wait he said his FATHER so will have to wait for 20 years to get 4l pa. You go,all the best..(no pun intended,just kidding) :)

Originally posted by : Mohd Atir




Originally posted by : Sanchit Gupta






BSNL is giving away Rs 400000 lakhs package to people that aren't educated..!! O_O

Chaddo pare CA ko fir..!!
BSNL mai job dekhte hai koi..!!






Yes I m with you brother,but wait he said his FATHER so will have to wait for 20 years to get 4l pa. You go,all the best..(no pun intended,just kidding) :)

 

Mate, check the message again.... The guy said 400000 lakhs.... i.e. Rs. 40000000000.....
You sure you want to opt out..?? :P

Originally posted by : Sanchit Gupta




Originally posted by : Mohd Atir









Originally posted by : Sanchit Gupta






BSNL is giving away Rs 400000 lakhs package to people that aren't educated..!! O_O

Chaddo pare CA ko fir..!!
BSNL mai job dekhte hai koi..!!






Yes I m with you brother,but wait he said his FATHER so will have to wait for 20 years to get 4l pa. You go,all the best..(no pun intended,just kidding) :)






 

Mate, check the message again.... The guy said 400000 lakhs.... i.e. Rs. 40000000000.....
You sure you want to opt out..?? :P

HAHAHAHAHAH,me too coming bro,contact me ASAP.. LOLZZ

Dear Mr Foolish Sachnt Gupta ,

I SAID THAT , MY FATHER HAD NO KNOWLEDGE ON TAXATATION, AT 25 YEARS BACK ,HAVING A 10TH CLASS QUALIFICATION IS TOO GREAT , MY FATHER HAD IT, HEI S WORKING SINCE LAST 22 YEARS DO U KNOW ABOUT HOW THE PAY  SCALES WILL BE INCREASED , STIIL NOW U DIDNT COMPLETE THE ARTICLES AND THINKING A JOB IN BSNL . FIRST ANALYSE THE PROBLEM ,DONT MAKE FOOLISH COMMENTS LIKE A FOOL.FIRST COMPLETE THE CA AND THINK OF THE JOB.WE ARE HERE  TO GIVE A SOLUTON WHO NEEDED IT , NOT GIVE A FOOLIS STATEMENTS.

 

Dear friends ,

 

 Thanks for the information provided, My father had pan no,

His basic salary is 17300

      DA                  5900

       HRA               4700 (actually paying my dad is 6300)

     Medical allowance :1200

other allowances          :700

PF deduting              :600

And LIC insurance , he is paying 2200 for every month.

No other investements are there , either under sec 80 c,80D or any 

For the finicial year 2010-11 TDS was deducted 29000 apx, can i file a refund return by submitting Form 16 and TDS deducted details


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