Tax & Surcharge Calculation
This query is : Resolved
06 September 2022
Dear Sir/Madam
I have filled the return for AY 21-22 and also paid the total tax and surcharge amount which is correct of my knowledge and income tax calculator also. CPC processed the return and demand raised Rs. 74520.
Kindly guide me the tax and surcharge calculation of new tax regime, so that i can pay the OS amount.
Thanking you
Taxable Income Rs. 5036290
Relief 89 Rs. 28801
TDS Rs. 1299418
I have filled the return for AY 21-22 and also paid the total tax and surcharge amount which is correct of my knowledge and income tax calculator also. CPC processed the return and demand raised Rs. 74520.
Kindly guide me the tax and surcharge calculation of new tax regime, so that i can pay the OS amount.
Thanking you
Taxable Income Rs. 5036290
Relief 89 Rs. 28801
TDS Rs. 1299418
06 September 2022
CPC has processed the ITR based on old regime.
As per old regime tax liability comes to Rs. 14,02,742/-...
As per new regime tax liability is Rs. 13,24,742/- ....
Surcharge in both the case is 25403...As TDS deduction is same for both regime....
Net tax difference is around.. Rs. 78,000/-
As per old regime tax liability comes to Rs. 14,02,742/-...
As per new regime tax liability is Rs. 13,24,742/- ....
Surcharge in both the case is 25403...As TDS deduction is same for both regime....
Net tax difference is around.. Rs. 78,000/-
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07 September 2022
Thanks Sir
I am not happy
Kindly provide the email so that i can send the order of cpc in new tax regime where tax is 1248387 surcharge 100398(what calculation) cess 53951 gross tax 1402736 relief 89 28801 total tax 1373935 tds 1299418 tax payable 74520
I am not happy
Kindly provide the email so that i can send the order of cpc in new tax regime where tax is 1248387 surcharge 100398(what calculation) cess 53951 gross tax 1402736 relief 89 28801 total tax 1373935 tds 1299418 tax payable 74520
07 September 2022
I once again ascertain that the assessment has been done as per old regime. If your claim for new tax regime is genuine, file rectification request, or if possible, file appeal.
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08 September 2022
Dear Sir
I agree with u
Thanks a lot
Regards
Manish Jha
Tax Lawyer
I agree with u
Thanks a lot
Regards
Manish Jha
Tax Lawyer
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08 September 2022
I agree, from the break up of the assessment that Surcharge cannot be around 1 L, while it should be around 25K. It seems to be software glitch. Need to go for appeal...
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08 September 2022
Thanks once again for guidance....
09 September 2022
You are welcome...
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