Home > Money > Question

Sign In | Create an account

Language:

Now in हिन्दी too

Need Expert Advice?Our Gurus Can Help

Mihir Tanna |977 Answers |Ask -Follow

Tax Expert - Answered on Jul 21, 2023

Mihir Ashok Tanna, who works with a well-known chartered accountancy firm in Mumbai, has more than 15 years of experience in direct taxation.
He handles various kinds of matters related to direct tax such as PAN/ TAN application; compliance including ITR, TDS return filing; issuance/ filing of statutory forms like Form 15CB, Form 61A, etc; application u/s 10(46); application for condonation of delay; application for lower/ nil TDS certificate; transfer pricing and study report; advisory/ opinion on direct tax matters; handling various income-tax notices; compounding application on show cause for TDS default; verification of books for TDS/ TCS/ equalisation levy compliance; application for pending income-tax demand and refund; charitable trust taxation and compliance; income-tax scrutiny and CIT(A) for all types of taxpayers including individuals, firms, LLPs, corporates, trusts, non-resident individuals and companies.
He regularly represents clients before the income tax authorities including the commissioner of income tax (appeal).... more

Question by vasudevan on Jul 21, 2023Hindi

Money

Hi Sir, I have been abroad for the past two years and came back only two months ago. Hence I was not able to file the IT returns for the year 2021-22. How do I proceed to file for that year. Anyhow I have filed IT returns for the next year that is 2022-23.

Ans: Updated return u/s 139(8A) can be filed within 2 years. However, updated return can not be filed if it is nil return or loss return or for claiming refund.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

MoneyReply

You may like to see similar questions and answers below

Mihir Tanna |977 Answers |Ask -Follow

Tax Expert - Answered on Aug 23, 2022

Question by Manoj - Aug 23, 2022Hindi

Money

Dear Sir, I have missed to file my individual ITR filing for the Asst. Year 2021-22 (FY: 2020-21) having refund of TDS approximately Rs 25,000. Is there any way to file the delayed ITR for the year ended 31.03.2021 (AY: 2021-22)? If possible kindly advise how to file it.

Ans: You may file applications for condonation of delay in filing returns claiming refund as per provisions of Sec 119(2)(b) of the Income-tax Act. As per Circular 9/2015, the Principal Commissioners of Income-tax shall be vested with the powers of acceptance/rejection of such applications/claims.

The powers of acceptance/rejection of the application will be subject to conditions like verification of income/loss declared and/or refund claimed and case is of genuine hardship on merits.

Once your application is accepted and order is passed by Principal Commissioners of Income-tax u/s 119, you will be able to file Income Tax Return at www.incometax.gov.in (external link).

Mihir Tanna |977 Answers |Ask -Follow

Tax Expert - Answered on Apr 01, 2023

Question by Asit - Mar 29, 2023Hindi

Money

I missed filing my Individual professional ITR by 31st december 2022 for Assessment year 22-23. What should I do now

Ans: You can file updated return u/s 139(8A) of Income Tax Act. However, you can not claim refund/claim loss in updated return. In case of tax liability, you have to pay 25% additional tax and file updated return on or before 31.03.2024.

Mihir Tanna |977 Answers |Ask -Follow

Tax Expert - Answered on Apr 27, 2023

Question by Rajkumar - Apr 26, 2023Hindi

Money

Sir, I haven’t been able to file my income taxe return for the year 2020-2021 and 2021-2022 . Due to some unavoidable issues. So how do I go about it Please advise Thanks and regards

Ans: Taxpayer can file an updated return if he has not filed original return. Updated return can be filed after paying an additional 25% of the tax and interest due on the taxable income (if the updated return is filed within 2 years from the end of the financial year). However, additional tax will increase to 50% if updated return is filed after 2 year and within 3 years of the financial year.

Latest Questions

Nayagam P P |3996 Answers |Ask -Follow

Career Counsellor - Answered on Dec 26, 2024

Question by Sumit - Sep 21, 2024Hindi

Career

Hello, i have 26 yrs of experience in the IT industry, and currently working as a consultant technical manager for important projects in several drdo labs in Hyderabad for the past few years. Despite being handson in coding, system design, I am also responsible for team management, deliverables, requirement analysis, and stakeholder management. I have an executive MBA from xlri and certification from pmi. Being 54 years of age, what are my options? Are there opportunities for people in the 50s? How about remote work or freelancing opportunities? I kind of find myself stuck and would like to explore opportunities. Any ideas? how to stay relevant in this ever changing world of technology?

Ans: Sumit Sir,
54-year-old with a strong background in the IT field, high-stakes projects, and an Executive MBA from XLRI can still stay relevant and look for opportunities. You can try for freelance consulting, work from home, coach, mentor, and train businesses in Agile methods, stakeholder handling, and team leadership.

To stay current, you can move into academic or research roles as an adjunct professor, work on research projects with universities or think tanks, or start your own business as a niche consultant.

To look for opportunities, make your LinkedIn profile stand out, share stories or insights, actively network, upskill strategically, and build a portfolio. Being old is an asset, but it's important to use it as a unique selling point and be flexible to stay competitive. By carefully using your skills and experience, you can open up many good opportunities and continue to thrive in the ever-changing tech world. All The Best for Your Prosperous Future.

Follow RediffGURUS to Know More on 'Jobs|Education|Careers'.

Dr Vinod Kumar |147 Answers |Ask -Follow

Kidney Health Specialist - Answered on Dec 26, 2024

Question by K - Dec 26, 2024Hindi

Health

During a recent USG of my stomach in connection with post endoscopy done an exophytic cyst measuring 7.6cmX3.6 cm was identified abutting against left kidney mid cortex. As such I donot have any pain or any problem right now. I would like valuable advise from Doctor

Ans: The cyst size looks quite big. It is better to do CT abdomen with contrast to rule out any significant lesion. If it turns out to be benign you need to do yearly scans.

Nayagam P P |3996 Answers |Ask -Follow

Career Counsellor - Answered on Dec 26, 2024

Question by Abin - Sep 14, 2024Hindi

Career

I've just started my SSC preparation at the age of 24. I wasn't a good student during my graduation, so I only achieved 53% marks. However, I believe that if I give it my best, I can crack the SSC CGL exam because I have relatively good marks in my post-graduation (70%). My concern is whether there's any chance that SSC might introduce a minimum graduation percentage requirement for the CGL exam in the future. If they do, all my efforts could go to waste. Could someone clarify if there’s any possibility of SSC implementing such a requirement?

Ans: Abin, The future of SSC's qualifying requirements is uncertain, but it is suggested that the test's emphasis on merit rather than academic grades could be impacted. Performance in the selection process is more important than academic records for most government tests, including SSC CGL. Any changes to eligibility requirements would be made public, and transitional rules may be in place. To prepare, focus on aptitude, reasoning, and topic knowledge in SSC CGL. If concerned about changes, consider other options like state-level government exams or competitive tests. Stay updated on SSC's changes. All The Best for Your Prosperous Future.

Follow RediffGURUS to Know More on 'Jobs|Education|Careers'.

Dr Vinod Kumar |147 Answers |Ask -Follow

Kidney Health Specialist - Answered on Dec 26, 2024

Question by K - Dec 26, 2024Hindi

Health

My fasting blood results for 2 tests done during last 3 months are : September 113 & 6.0 and December : 99 & 6.0. Would like valuable comment and advise.

Ans: You are pre-diabetic. Just follow diabetic diet and regular exercise daily.

Nayagam P P |3996 Answers |Ask -Follow

Career Counsellor - Answered on Dec 26, 2024

Question by Pramya - Sep 13, 2024Hindi

Career

I completed my MA in Philosophy in 2020. After then I was preparing for banking exams., but somehow I feel that this not my cup of tea. And I was totally clue less what to do with my career. One of my friend got recruited as a government teacher after completing her B.ed. .. And now I also enrolled to the b.ed course. But also I am preparing for government lecture job. But I don't have the patience to study... I frequently get distracted..... because every person around me already have their job and they enjoying their life. And me here, still dependent on my parents for a little expenses. How can I concentrate on my studies. And I want to know is their any other option as per my education background? I really want to try my hands on IT sector. But as I am Arts student, ls there any course available suitable for my profile?

Ans: Thank you for your question. I have responded to a similar question recently. You may check my answer here
If you are looking for more details, I would be happy to assist/guide you. All The Best for Your Prosperous Future.

Follow RediffGURUS to Know More on 'Jobs|Education|Careers'.

Nayagam P P |3996 Answers |Ask -Follow

Career Counsellor - Answered on Dec 26, 2024

Asked by Anonymous - Sep 24, 2024Hindi

Career

Hi Sir/Madam, Kindly request you to please guide in Finance and Accounts sector which is the best course certification or any training or course to do online if the individual man has a career gap of 3 years with 2.5 years of experience with only B.com degree. Kindly request you to please guide has I need the job very urgently. Kindly request you to share list of important course or certifications through online to get a job has a analyst or Executive or associate in management Level. Thanks and Regards.

Ans: Coursera and LinkedIn Learning offer various certifications in accounting and finance, including Tally ERP 9 or TallyPrime, QuickBooks Online, Analyst for Financial Modeling and Valuation (FMVA), First Level of Chartered Financial Analyst (CFA), GST Certification Course on Tax & Compliance, Tax Filing Course, and SAP Financial Accounting and Controlling (SAP FICO). Coursera also provides Excel Skills for Business and Power BI and Tableau courses for data visualization.

To update your resume, focus on your B.Com degree and work skills, list desired licenses, start freelance or internship projects, use networking to connect with finance and accounting candidates on LinkedIn, and improve your "soft skills" to improve communication, time management, and problem-solving abilities. These certifications and skills will increase your chances of getting a job quickly and look good on your resume. By incorporating these certifications and skills, you can increase your chances of success in the finance and accounting industry. All The Best for Your Prosperous Future. Follow RediffGURUS to Know More on 'Jobs|Education|Careers'.

Dr Anshuman Manaswi |17 Answers |Ask -Follow

Plastic-Aesthetic Surgeon, Emergency Care Consultant - Answered on Dec 26, 2024

Asked by Anonymous - Dec 23, 2024Hindi

Health

Doctor, after two pregnancies and losing a lot of weight, I’m left with saggy skin and a bit of a tummy bulge that just won’t go away, no matter how much I exercise. I’ve been reading about tummy tucks but I am not sure if it will help me. What is the procedure and what is the success rate? Will I look natural after the procedure? Are there any long-term risks I should think about?

Ans: Tummy tuck surgery is one of the most rewarding plastic surgeries. All ur issues will be sorted out and additional benefits like better posture and thus reduced back pain are bonus.
There are no major risks in this surgery in general.
Please visit a plastic surgeon and get detailed consultation.

Nayagam P P |3996 Answers |Ask -Follow

Career Counsellor - Answered on Dec 26, 2024

Asked by Anonymous - Oct 16, 2024Hindi

Career

Hello Sir, I am 47 Years old from Mumbai with a family ( wife + 2 Kids). I am doing business currently, but as my Daughter is doing CA, I started loving CA course. I want to do CA, but I studied only till SYBCOM last in 1997. As I know,One can do direct entry ( for CA Intermediate) if one has completed is Graduation, but in my case I am not Graduate. Also for Final CA, eligibility criteria is minimum qualification must be Graduate. So at this age and after long Gap How can I complete my Graduation and from which university offer this course ( I Studied from Mumbai University)

Ans: Thank you for your question. I have responded to a similar question recently. You may check my answer here
If you are looking for more details, I would be happy to assist/guide you. All The Best for Your Prosperous Future.

Follow RediffGURUS to Know More on 'Jobs|Education|Careers'.

Nayagam P P |3996 Answers |Ask -Follow

Career Counsellor - Answered on Dec 26, 2024

Asked by Anonymous - Aug 23, 2024Hindi

Career

I am 56 and have been in senior positions in process industry . Have been from hands on to heading the operations . Last assignment was abroad in Africa as the CEO . I had to cut it short and return . I would Like to pursue certain courses now to be an independent consultant or join again abroad or otherwise in senior position after pursuing certain course which would be useful. Can I get a suggestion

Ans: Thank you for your question. I have responded to a similar question recently. You may check my answer here
If you are looking for more details, I would be happy to assist/guide you. All The Best for Your Prosperous Future.

Follow RediffGURUS to Know More on 'Jobs|Education|Careers'.

Nayagam P P |3996 Answers |Ask -Follow

Career Counsellor - Answered on Dec 26, 2024

Question by Sushant - Dec 24, 2024Hindi

Career

Financial Risk Managers scope

Ans: Sir, Financial Risk Managers (FRMs) are professionals who identify, analyze, and mitigate financial risks, including market, credit, operational, and liquidity risks, to ensure organizational stability. They are in high demand across various sectors, including banking, investment firms, insurance companies, asset management, consulting, and regulatory bodies. FRMs develop risk models, stress test portfolios, create hedging strategies, and advise on risk mitigation policies. They work closely with senior management to align risk strategies with business goals. The FRM certification, awarded by the Global Association of Risk Professionals (GARP), opens doors to careers in major financial hubs. Career progression and salaries are competitive, making FRM a lucrative field. The scope for FRMs continues to expand as organizations prioritize proactive risk management. All The Best for Your Prosperous Future. Follow RediffGURUS to Know More on 'Jobs|Education|Careers'.

See more questions »

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

Video Reply
Audio Reply

WhatsApp
Facebook
Twitter
Copy link

Delete

Close

Dear User, You have not registered yet. Please register by filling the fields below to get expert answers from our Gurus

Sign up

email

uname

mobile no

Country Code

Mobile number

By signing up, you agree to our
Terms & Conditions and Privacy Policy

Already have an account?

LOGIN

x