chetan (accountant) (321 Points)
28 November 2011Hi
I have received intiamtion u/s 143 in that it showing refund amount of982/- But When i filled my it return the refund was4100/- . When i check my tax credit 26As they considered only982/- But i am getting insurance commission from Lic also they have deducted3118/-. The IT department has not considered3118- in computation of income tax.
In above case what i do? How do i go ahead.
Pls reply.
Sarvesh Kumar Singh
(Student CA Final (Articled Asst.))
(170 Points)
Replied 28 November 2011
It may be possible that LIC has not deposited the TDS amount in correct PAN No., thats why it is not showing in your 26AS detail. you should send a request letter to the ITO regarding short fall in refund. also produce the TDS certificates received from LIC in support of your claim.
Ramakrishna
(Financial Executive)
(438 Points)
Replied 28 November 2011
Hi !
Of late, the IT dept is blindly going by the amount of credit available in your PAN ledger (26AS). Therefore, you may better approach the Manager of the LIC office to amend their quarterly TDS return.
Good Bye! Cheers!!
sripal
(article)
(68 Points)
Replied 29 November 2011
if you have e-filed your return then, contact your LIC people and make sure u receive the credit in form 26AS.Then upload a rectification online.
CA sumit chejara
(ca final)
(99 Points)
Replied 29 November 2011
Hi dear .
You have two option either u can revise return if it is filed u/s 139(1), or or file a rectification of mistake u/s 154
CA sumit chejara
(ca final)
(99 Points)
Replied 29 November 2011
u file a rectification of mistake apparent from the record showing full detail of 26AS.
Rahul Gupta
(Chartered Accountant)
(644 Points)
Replied 29 November 2011
Approach the LIC to file correction statement. As soon as the file is uploaded by the CA it will be reflected in your Form 26As in 3-4 working days. After file the Rectification online and you will get the refund as soon as the Intimatiion for the Rectification is issued.
Sushil Kumar Shaokand
(Manager Finance)
(446 Points)
Replied 29 November 2011
I AGREE WITH SARVESH...
THANKS
Ashutosh mishra
(CA Final & Under Article)
(62 Points)
Replied 29 November 2011
Dear Friend,
Write a petition u/s 154 for correction in return and claim demand and enclose a copy of the LIC TDS certificate. The IT department will change the record and will issue the balance refund with interest u/s 244A(1).
Venu Chaganti
(no)
(80 Points)
Replied 29 November 2011
Hi,
you can go to the website, www.incometaxindiaefiling.gov.in and login with your PAN No. and password.
In this website you can view your Form No.26AS, you can check whether all the TDS deducted got deposited or not.
Regards
Venu Ch
chetan
(accountant)
(321 Points)
Replied 01 December 2011
Hi
Thanx for your suggestion. But i would like to say that i have checked 26AS and in that it showing the same amount deducted by LIC. In such case should i filed the revised return or any other way to revert IT department.
Please reply.
Venu Chaganti
(no)
(80 Points)
Replied 01 December 2011
some times IT Department will give less deductions, even if you claim higher deduction, so please check the calculation. The calculation are available in the intimation letter.
chetan
(accountant)
(321 Points)
Replied 01 December 2011
Hi venu
I have checked the intimation in that they have considered only Rs 11206/- and tds deducted by lic they have ignored. there is any calculation error or programm error. Pls give me ur emaild id so i mail u the intimation.
Pls reply.
chetan
(accountant)
(321 Points)
Replied 02 December 2011
Hi Please reply me anybody for my above query?
Harihar Mandal
(CA)
(504 Points)
Replied 05 December 2011
go to your LIC office and ask for the TDS certificate, then file rectification petition u/s 154
CAclubindia
