Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

Very Urgent Tax Doubt

saivarma (articles assistant) (127 Points)

13 April 2011

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

Reply
Follow
Share

18 Replies

U S Sharma (glidor@gmail.com) (21063 Points)
Replied 13 April 2011

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

Upgrade to CAclubindia Pro. Subscribe Now!

Pankaj Arora (Learner) (3134 Points)
Replied 13 April 2011

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.........

Harpreet (* * * * * *) (1670 Points)
Replied 13 April 2011

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.

Pankaj Arora (Learner) (3134 Points)
Replied 13 April 2011

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

Mihir (Wealth Manager) (5293 Points)
Replied 13 April 2011

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.

Upgrade to CAclubindia Pro. Subscribe Now!

U S Sharma (glidor@gmail.com) (21063 Points)
Replied 13 April 2011

@ 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

Balaji (Knowledge Seeker) (317 Points)
Replied 13 April 2011

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.

M. N. JHA (CA) (8316 Points)
Replied 13 April 2011

@ saivarma

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

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

Sanchit Gupta (Chartered Accountant) (30 Points)
Replied 13 April 2011

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..!!

Joey Tribbiani (fdg) (2010 Points)
Replied 14 April 2011

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) :)

Upgrade to CAclubindia Pro. Subscribe Now!

Sanchit Gupta (Chartered Accountant) (30 Points)
Replied 14 April 2011

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

Joey Tribbiani (fdg) (2010 Points)
Replied 14 April 2011

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

saivarma (articles assistant) (127 Points)
Replied 19 April 2011

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.