FAQs on Income Tax Returns

Q.1. If there is mismatch between the actual tax deducted and the amount shown in form 26AS, how to get it rectified and claim the balance?

It is advised to claim the actual tax deducted in the return. Such mismatch will be handled in accordance with Instruction No. 4/2012, in the following manner:

(a) Where difference between claim and amount reported in AS-26 does not exceed Rs. 5,000, the claim shall be accepted;

(b) Where zero claim is matching, the credit shall be allowed only after due verification by department;

(c) Where there is claim with invalid TAN, the TDS credit for such claim is not to be allowed; and

(d) In all other cases, the credit shall be allowed after due verification by the department.

Q.2. I have heard that a salaried person is not required to file return of income. Is it correct?

It is partially correct. In view of Notification No. 9/2012, a salaried person is not required to file his return, if following conditions are satisfied:

(a) The total income of assessee does not exceed Rs. 5 lakh;

(b) The total income consists of only following:

(i) Salary from a single employer; and

(ii) Interest on deposits in a saving bank account up to Rs. 10, 000.

(c) The assessee reports his PAN and the amount of interest income to his employer; and

(d) The employer deducts the tax due on total income including interest and furnishes a certificate in Form No.16 to the assessee.

It must be noted that, the benefit of this notification would not be available, if assessee has earned:

(a) Any income other than salary or interest income; or

(b) Salary income from more than one employer.

Example: The exemption from filing of return of income would be available in case salary income of assessee is Rs. 5,50,000 and interest on saving account is Rs. 10,000, provided assessee invests at least Rs. 60,000 to get section 80C deduction.

Q.3. How a salaried person can claim the refund if he is not required to file return of income by virtue of aforesaid Notification No. 9/2012?

Income tax refund can be claimed through filing of income-tax return only.

Q.4. Can a salaried person take the benefit of this notification, if during the year he has incurred losses under the head ‘Income from house property’?

No, the benefit of this notification would not be available even if the total income of assessee is reduced to less than Rs. 5,00,000 after setting off the losses from house property.

Q.5. Can I seek exemption under this notification from filing of return of income in response to notice I received during the year under section 148?

No, you can’t avail of the benefit of this notification. You have to file the return of income to comply with the requirement of notice issued under section 148. The said notification provides that the exemption from furnishing a return of income-tax shall not be available where a notice is issued under section 142(1)/148/153A/153C for filing return of income.

Q.6. I did not submit rent receipt and investment proof to my employer; the actual tax deducted from my salary income is much higher than my actual tax liability. How to claim refund of such excess tax deducted?

Even if the benefit of HRA deduction under section 10(13A) and deduction under Chapter VI-A were not considered by the employer in Form 16, it can be claimed in the income-tax return and, in turn, can claim the refund of excess tax deducted.

Q.7. During the relevant year, I have received advance rent pertaining to previous year 2012-13. Tax was deducted by the tenant from advance rent as well. Though the advance rent will be taxable in next year and the TDS certificate would be received in current year, how can I claim the partial benefit next year?

The portion of TDS credit, pertaining to income taxable in next year, can be claimed through same TDS certificate.

Q.8. When is income-tax return to be filled?

Every company is required to file return of income. However, for an individual and HUF, it is mandatory to file return of income, if their gross total income (before claiming Chapter VI-A deduction) exceeds the maximum limit. The maximum exemption limit and the slab rates are given in the following table:

Class of persons Tax slab (Amount) Tax rate
For resident women (aged less than 60 years)Up to Rs. 1,90,000Nil
Rs. 1,90,000 to Rs. 5,00,00010%
Rs. 5,00,000 to Rs. 8,00,00020%
Above Rs. 8,00,00030%
For resident senior citizen (aged 60 years and above but less than 80 years)Up to Rs. 2,50,000Nil
Rs. 2,50,000 to Rs. 5,00,00010%
Rs. 5,00,000 to Rs. 8,00,00020%
Above Rs. 8,00,00030%
For resident super senior citizen (aged 80 years or more)Up to Rs. 5,00,000Nil
Rs. 5,00,000 to Rs. 8,00,00020%
Above Rs. 8,00,00030%
Up to Rs. 1,80,000Nil
For any other individual or HUFRs. 1,80,000 to Rs. 5,00,00010%
Rs. 5,00,000 to Rs. 8,00,00020%
Above Rs. 8,00,00030%

Q.9. Is it mandatory to file return of income, if I have a PAN?

No, it is not mandatory to file return of income if your income is less than maximum exemption limit.

Q.10. I am an individual and a resident of India. Do I need to file return, if my income is below taxable limit but have an account in a foreign bank?

Yes, it is mandatory for you to file the income-tax return. In view of newly inserted provision in section 139(1) it is mandatory to file income-tax return, if following conditions are satisfied:

(a) The assessee is resident and ordinarily resident in India;

(b) Assessee is possessing any of following:

(i)  A bank account in a bank located abroad;

(ii)  An immovable property located abroad; or

(iii) Financial interest in any entity located abroad.

An assessee is required to provide details of such bank account, immovable property or financial interest in the return.

Q.11. Which form should I choose to file income- tax return for the previous year 2011-12?

The following Table will be helpful to you for the purpose:-

Individual and HUF
Nature of incomeITR 1(Sahaj) ITR 2ITR 3ITR 4ITR 4S (Sugam)
Income from salary/pension
Income from other sources (Only interest income or family pension)
Income/loss from other sources
Income/loss from house property
Capital gains/loss on sale of investments/property
Partner in a partnership firm
Income from proprietary business/ profession
Income from presumptive business
Details of foreign assets
Other Assesses
Nature of incomeITR 5ITR 6ITR 7
Association of persons (AOP)
Body of Individuals (BOI)
Companies other than companies claiming exemption under sec. 11
Persons including companies required to ü furnish return under:(1) Section 139(4A);(2) Section 139(4B);

(3) Section 139(4C); and

(4) Section 139(4D)

Q.12. What are the due dates for filing of income-tax return for the year ending March 31, 2012?

It will be clear from the following Table:-

Assessee Due date
An Individual or HUFJuly 31, 2012
A CompanySeptember 30, 2012
A person whose accounts are required to be auditedSeptember 30, 2012
A working partner of a firm whose accounts are required to be auditedSeptember 30, 2012
An assessee who is required to furnish a report under sec. 92E for international transactionNovember 30, 2012
Any other personJuly 31, 2012

Q.13. Whether it is mandatory to file return electronically?

(a) It is mandatory for every company and other class of persons who are required to get their accounts audited.

(b) For all other assessees, it is mandatory if their total income exceeds Rs. 10 lakh during the previous year 2011-12.

Q.14. How to file return electronically?

Income-tax return can be filed electronically with the help of following instructions:

(a) Visit https://incometaxindiaefiling.gov.in;

(b) Determine the ITR form suitable for your status and source of income (Refer FAQ 2) and download excel utility from the above listed website;

(c) File income-tax return in the downloaded excel utility and generate XML file;

(d) Click on following link to create your account: https://incometaxindiaefiling. gov.in/portal/register.do?screen=registerPage1

(e) After creating your account, log in and click on “submit return“;

(f) Select the ‘assessment year’ and ‘form name’, then click on ‘next’;

(g) Click on Browse to select the generated XML file and upload it;

(h) On successful uploading, a pop-up menu will be displayed on the screen. Click on “Download” button to get the acknowledgement, i.e., ITR-V;

(i) The final step is to get the printout of such an acknowledgement; get it signed and send it to “Income Tax Department – CPC, Post Bag No. – 1, Electronic City Post Office, Bengaluru – 560100, Karnataka” within 120 days of uploading the return either by ordinary post or by speed post only.

If ITR-V is not submitted within stipulated period of 120 days, then it will be deemed that assessee has not filed the return of income.

If assessee is using digital signature (“DSC”) for uploading the return, it is to be registered on the website beforehand. If return is filed through DSC, assessee would not be required to send the printout of the acknowledgement to CPC.

Q.15. I have forgotten the log in details of https://incometaxindiaefiling.gov.in. How to proceed now?

(a) Click on forget password or the following link (https://incometaxindiaefiling.gov.in/portal/register.do?screen=showforgotpwd);

(b) In the password reset page, one of the following options can be selected:

(i) Re-enter your answer to the secret question;

(ii) Select the assessment year and enter e-filing acknowledgement number of any of the returns filed electronically since assessment year 2007-08; or

(iii) Enter your credentials, i.e., PAN number, name of assessee, date of birth and father’s name;

(c) Enter new password twice and click on ‘Reset Password’ to generate new password;

(d) If you are still unable to retrieve your password then send an email request from registered email-id, to validate@incometax india.gov.in with following details:

(i)  PAN Number;

(ii)  Name of the assessee as appearing on the PAN card;

(iii) Date of Birth/Date of incorporation;

(iv) Name of father as appearing on the PAN card;

(v) Address;

(vi) Mobile number; and

(vii)  Registered email id.

(e) New password will be communicated to you by the income-tax department via email.

Q.16. If the last date of filing of income-tax return is a public holiday, can the next working day be treated as “last date of filing”?

Generally, income-tax department continues its operation during the last days even on Sundays and holidays. However, if department is closed on that day, then as per Sec. 10 of “General Clauses Act, 1897” upcoming working day of the department will be considered as the last date of filing of income-tax return.

Q.17. How can I find my jurisdictional Assessing Officer?

Either click on Services>Know your Jurisdiction on the home page or click on following link https://incometaxindiaefiling.gov.in/portal/common.do?screen=jurisdiction to know your Jurisdictional Assessing Officer.

Q.18. How can I come to know about TAN of my deductor?

It can be found either on the Form 16/16A or in the 26AS tax credit statement available on NSDL website.

Q.19. How would I know if my e-return has been processed at CPC Bangalore?

Log on to the e-filing website and select CPC processing status to check the status of your return.

Q.20. I have e-filed my income-tax return and sent the signed copy of acknowledgement to CPC. However, I have received a letter from CPC that said form has not been received. Since time-limit to resend the acknowledgement has already expired, whether it will be deemed that I have not filed the return?

The same issue has been dealt with by the Bombay High Court in the case of Crawford Bayley & Co. v. Union of India [2011] 16 taxmann.com 323, wherein the Court, inspite of expiry of the specified time-limit, condoned the delay in sending of acknowledgement and allowed additional time to assessee to resend the same.

Based on the above ruling, you can resend the acknowledgement, even though the time-limit for filing ITR-V has already expired.

Q.21. Can I file the return even if I couldn’t file the return within due date?

The return can be filed belatedly, however, before completion of any of following time limit:

(a) One year from the end of relevant assessment year; or

(b) Before completion of assessment.

Income-tax return for the previous year 2011-12 can be filed by an assessee upto March 31, 2014. Please note that in that case assessee may be subjected to levy of interest under section 234A and penalty under section 271F.

Q.22. Can I file return of income even if my income is below taxable limits?

Yes, you can file return of income voluntarily, even if your income is less than the maximum exemption limit.

Q.23. I have filed my return of income; however, I forgot to claim benefit of section 80C deduction. What should I do now?

The benefit of omitted claim can be availed of by filing of revised return only. It must be noted that the return can be revised, only if originally it has been filed within due date. An income-tax return can be revised within one year from the end of the relevant assessment year or before completion of the assessment, whichever is earlier.

Q.24. I am a salaried person. My total taxable salary is Rs. 5,40,000 on which tax has been duly deducted under sec. 192 amounting to Rs. 41,200. During finalization of return, I found that my bank has given me a credit of Rs. 124,500 towards interest. Please guide me what should I do now?

In this situation, you have to pay the balance taxes on the interest income (or any other income) before filing of return. As per revised computation, your total tax liability would be Rs. 66,847. Since tax of Rs. 41,200 has already been deducted under sec. 192, the balance tax of Rs. 25,647 should be paid along with interest under section 234B and 234C amounting to Rs. 1026 and Rs. 949 respectively.

The above tax and interest can be paid in any authorized bank, through Challan No. ITNS 280. Alternatively, it can be paid through online bank portal through following link https://onlineservices.tin.nsdl.com/etaxnew/tdsnontds.jsp

Q.25. What documents are to be enclosed along with the return of income?

New return forms are annexure less. Hence, no need to enclose documents along with the return of income.

Q.26. During the year, I have given a donation to an organisation registered under section 80G. How to claim deduction for the same under sec. 80G?

Deduction under section 80G is available if following details are furnished:

(a) Name of donee;

(b) PAN of donee;

(c) Address of donee;

(d) Amount of donation; and

(e) Eligible amount of donation.

Q.27. During the year, the accrued interest on deposit in my saving account is Rs. 15,000. My total income including such interest income is below taxable limit. How to avoid deduction of tax under section 194A?

You can file a self-declaration to your banker in Form 15H stating that your income is below taxable limit.

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