itr4 form filling

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 August 2010 Dear sir,
i filed the itr online for ay 2009-2010. i did not receive the receipt of acknowledgement. Last week i called the CPC bangalore office and they told me that first speedpost sent on 27/05/10 has not been received by them, which i am surprised i even gave them the speedpost number but of no use. Second speedpost sent on 27/07/10 has been received by them on 02/08/10 which they have rejected for time exceed. They have now advised me to file the revised return today and then resent the itrV acknowledgement form. Is this the only way out or advice accordingly.

secondly i have a query,
i have multiple credit cards and have taken loans on the same. So every month i need to pay the emis on the card. and i use the balance transfer facility to transfer the card balances between one card and another to cut down on interest cost. There are no purchases made on the card. Do i need to enter them in SCHEDULE AIR SECTION2 AND IF YES HOW and do i need to mention card no's as well or how to enter multiple cards. sum of payments made by me is less than 2 lacs but clubbed with balance transfers they exceed 2 lacs in 2 cards. how to show the same in air section 2

Kindly advice

Aditya Maheshwari

Aditya Maheshwari (Expert)
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31 August 2010 1. You have 120 days to send ITR - V acknowledgement to Bangalore. So if done within this period then ok. If exceeded then file new return only.

2. AIR information requires to state
002 - Payment made by you against bills raised in respect of a credit card aggregating to two lakh rupees or more in a year.
So the word used here is payment and not purchase

Querist : Anonymous

Querist : Anonymous (Querist)

31 August 2010 thanks for the first query and i would require more clarification on second.
for more than one card shall i add up all the payments made to credit card a/c for all credit cards or only for cards where payment is made in excess of 2 lacs. and should we write the total amount of all cards clubbed.
example: card 1 : Rs 210000/-
card 2 : 245000/-
card 3 : 30000/-
card 4 : 15000/-
then what should be entered in air column 2

kindly advice

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Aditya Maheshwari

Aditya Maheshwari (Expert)
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31 August 2010 Add up all the payments made for all credit cards.

Querist : Anonymous

Querist : Anonymous (Querist)

31 August 2010 thanks for ur reply.
on small query.
there was a query from income tax regarding the credit card payment made and i have not furnished the payments in itr4 section air2. although i have replied to them , and i have to refile the itr4 for ay 2009-10 as i havent received the acknowledgement in the stipulated time of 120 days, should i add these details as well. thanks

Aditya Maheshwari

Aditya Maheshwari (Expert)
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31 August 2010 Yes add this information also for sure.

also u can thank by using the thank user icon.

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