Raj (ac) (155 Points)
13 March 2009Hi all,
How can we file the returns without submiting any proofs for the deductions ? For Eg how would the authorities check if we have paid the Insurance premium if we claim it u/s 80 c
and how about if we have any tax on our returns how would that be paid.
regards
Rajesh
Pemmasani Purushotham
(M.B.A, C.A.Final)
(418 Points)
Replied 13 March 2009
Raj if u r a employee u have to submit all investment details to ur employer, based on that he will deduct TDS on ur salary.
If ur a business man u have to claim all deductions u/s 80C, the dept will check random basis, if u r in that list u have to submit all the documents at that time, u r not able to submit u have to pay Tax with interest & penalty.
The Tax u pay through Bank with ITR 280 Challans i.e Self Assessment Tax.
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