Home > Money > Question

Sign In | Create an account

Language:

Now in हिन्दी too

Need Expert Advice?Our Gurus Can Help

Mihir Tanna |819 Answers |Ask -Follow

Tax Expert - Answered on Oct 11, 2022

Mihir Tanna has more than 10 years of experience in direct taxation, including filing income tax returns.
He regularly represents clients before the income tax authorities including the commissioner of income tax (appeal).... more

Question by Sunil on Oct 11, 2022Hindi

Money

My current organisation has deducted my TDS for the FY 2021-22 and still not deposited. Kindly advice repercussions could be and how to take it forward with my company.

Ans: I hope you have filed your ITR and claimed said TDS in ITR. If TDS is not deposited by employer, it will not appear in 26AS and you will not be able to get credit of the same. Thus, it is advisable to keep written communication with employer, requesting to deposit TDS and provide Form 16 downloaded from traces (income tax website) at the earliest.

If said TDS is not deposited within reasonable time, you have to contact CPC department of Income Tax.

Through telephonic talk you have to explain the issue and request them to transfer your ITR to jurisdictional assessing officer (AO) so you can get TDS credit.

Once ITR is transferred to AO, you can explain to issue to AO, file copy of your communication with employer along with documents related salary and TDS deducted.

You can request AO to grant credit and communicate with your employer for depositing the TDS amount.

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

Tejas Chokshi |126 Answers |Ask -Follow

Tax Expert - Answered on May 04, 2023

Question by ATANU - May 03, 2023Hindi

Money

SIR , I am a Senior Citizen retired from service in January 2020 ,ITR for AY 2020-21, 2021-22 & 2022-23 filed in time and eligible for return of excess deposit of TAX in every AY. Deposit of TDS with TAN NO all are shown in 26 AS and also showing in ITR calculation but TAX AUTHORITY is not considering the CREDIT of TDS deposited by Deducting Authority and claiming for DEPOSIT the full amount instead of RETURNING the EXCESS DEDUCTION of TDS.. many times it is being complain in Grievance Cell but no correction is being done by ITR BANGALORE AUTHORITY and every time claim are showing as it is. Please advice me how it can be settled and can get return of my excess deductions of TDS . Regards ATANU KUMAR NAYAK,

Ans: I'm sorry to hear about the issue you're facing with the tax authority. Here are some steps you can take to resolve the issue:

Verify the TDS credit: Check if the TDS credit shown in your Form 26AS matches the TDS amount shown in your Form 16/16A or any other TDS certificate issued to you by the deductor. If there is any discrepancy, you may need to contact the deductor and get the correct TDS certificate.

Raise a grievance: If you have already verified the TDS credit and found it to be correct, you can raise a grievance with the tax authority. You can do this online by logging into the e-filing portal of the Income Tax Department and submitting a grievance under the 'e-Nivaran' tab. Provide all the relevant details and documents to support your claim.

Follow up: After raising the grievance, you may need to follow up with the tax authority to ensure that your issue is being addressed. You can track the status of your grievance online using the grievance ID provided to you.

Seems you have followed all the above steps. In my opinion, instead of filling grievance, you may have opted for rectification under provisions of section 154 of the Income tax Act, 1961.
You may visit, "Work-listing" or "e-proceedings" or "Under respond to outstanding demand", which will navigate you to another page, where in you will be taken to the "Agree/ disagree with the demand" . You may disagree in full or in partial and there would be number of options that would be auto populated , from which you may select , "Rectification", basis rectification filled as explained above. In rectification, you may have to select the option, TDS mismatch, which will navigate you to the page which will display, difference if any between TDS claimed and TDS allowed by the Central Processing.

I hope the above step may resolve your issue.

(more)

Abhishek Shah |76 Answers |Ask -Follow

HR Expert - Answered on Jan 07, 2024

Question by T - Sep 13, 2023Hindi

Career

Dear Sir, My employer deducted TDS from Salary 8 years back but till date the deducted TDS Challans still available in Employer TAN with this reason I am unable to apply refund for those 2 Financial Years. After repeated requests also the employer not responding and Assessment also not done. Now what to do to get my TDS amount back. Awaiting for your replay. Thank you.

Ans: I’d suggest you send a quick legal notice to the employer if the amount is substantial. If not, move on.

(more)

Latest Questions

Patrick Dsouza |185 Answers |Ask -Follow

CAT, XAT, CMAT, CET Expert - Answered on Apr 29, 2024

Question by Nidhi - Apr 23, 2024Hindi

Career

Sir I have done masters in Electronics and got regular job after 1.5 years of gap in computer science labs age 33 now.what are the career options if i want to switch in MNCs

Ans: Either you will have to look at jobs that is similar to what you are doing now, or will have to reskill yourself in some relevant technology and then look for jobs in that field.

(more)

Patrick Dsouza |185 Answers |Ask -Follow

CAT, XAT, CMAT, CET Expert - Answered on Apr 29, 2024

Asked by Anonymous - Apr 23, 2024Hindi

Career

Hello sir, I am graduate in b.com , MBA in general management from ICFAI, Tripura. Worked as banker for 6 years since 2008. On career break since 2014 but during this time I did my MBA and worked as freelance in recruitment and as subject matter expert in finance. Since 2020 , no projects and due to family health issues discontinued . In 2022 moved to Hyderabad and did CSPO certification from Scrum Alliance and recently completed a course in Oracle fusion financial functional consultant. But after all efforts I am not getting job because of career gap. Please suggest how women can re- enter in non banking sector. Please suggest. Thankyou.

Ans: There are jobs available, you will have to keep searching. Check your network of friends, apply through placement agency, upload your cv on job portals etc. Try to take up a job in relevant domain even if you are not completely satisfied with it and then keep searching, Else the gap would increase,

(more)

Patrick Dsouza |185 Answers |Ask -Follow

CAT, XAT, CMAT, CET Expert - Answered on Apr 29, 2024

Question by Pritam - Apr 27, 2024Hindi

Career

I did btech in cse in a state government college but after graduation I thought of preparing for cat and other MBA exam, I reached till interview of ximb but was rejected at last and current job market seems to be down , I'm thinking of doing a data analytics course in bengaluru/Hyderabad? Is it a good idea ? Please reply

Ans: One option is to try for CAT again. You already have learning experience from your first attempt and that could help you to perform better in the 2nd attempt. Can do a course simultaneously or can do a job in Data Analytics. When you decide your career path try to see the demand in the industry as well as what you are interested in.

(more)

Patrick Dsouza |185 Answers |Ask -Follow

CAT, XAT, CMAT, CET Expert - Answered on Apr 29, 2024

Question by srinivasu - Apr 28, 2024Hindi

Career

Hi, i am currently doing btech computer science from iit tirupati ,3rd year,i want to study ms in MIT,Stanford,UoB,caltech,how to get in,what i should prepare

Ans: Most of these courses would require GRE as an entrance test.
Usually the first step is to find the admission procedure for each of these colleges. Check the deadline and what is required. Also check the date when you have to submit the scores and then plan your preparation for the exams accordingly. Usually the US universities would have weightage for extra and co curricular activities. Check that out and get involved with those activities.

(more)

Krishna Kumar |254 Answers |Ask -Follow

Workplace Expert - Answered on Apr 29, 2024

Asked by Anonymous - Apr 28, 2024Hindi

Career

I have my graduation in electronic and communication.I have career gap 2019-2023 .I started a business but unfortunately we failed ,I want a job in IT Industry what should we do for getting a job as a fresher

Ans: Hello

2019-23 is not a career gap but a learning period where you tried entrepreneurship. Please tell your potential employer about that.

Try in the companies which are in the similar areas in which you tried your business, they will value your experience.

Failed entrepreneurship is an invaluable experience because now you know what all NOT to do.

You are indeed a. Fighter, you will do very well. All the best.

Best regards

(more)

Ramalingam Kalirajan |939 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Apr 29, 2024

Asked by Anonymous - Apr 27, 2024Hindi

Money

Hello Sir, I am looking at imvesting around Rs.20,000 per month in SIP with good returns and overall balanced portfolio along with some us stock exposure (Parag Parikh kind of funds). Please provide your valuable suggest in which mutual funds should I invest or is ETF better option

Ans: When considering your investment strategy, actively managed funds can offer distinct advantages over ETFs. Actively managed funds are overseen by professional fund managers who actively research and select investments they believe will outperform the market. This active management can potentially lead to higher returns compared to passively managed ETFs.

Furthermore, actively managed funds have the flexibility to adapt to changing market conditions and exploit emerging opportunities. Fund managers can adjust their portfolios in response to market trends, economic indicators, and company-specific developments, aiming to optimize returns while managing risk.

On the other hand, ETFs, while offering low expense ratios and broad market exposure, often deliver only mediocre returns. Since they passively track an index, ETFs are unable to take advantage of market inefficiencies or capitalize on undervalued securities in the same way actively managed funds can.

Considering your desire for balanced returns and exposure to US stocks akin to Parag Parikh-like funds, actively managed funds offer a more suitable option. They provide the potential for superior performance while aligning with your investment objectives and preferences. Working with a Certified Financial Planner can help you identify the most appropriate actively managed funds to include in your portfolio.

(more)

Ramalingam Kalirajan |939 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Apr 29, 2024

Asked by Anonymous - Apr 28, 2024Hindi

Money

Hello, I am 25 years old. Due to personal reasons I invest in only 100% equity mutual funds that do not invest in banking stocks. Currently I am investing in 3 mutual funds: Nippon India Power & Infra direct growth, Taurus Ethical fund and Tata Ethical fund. I have set Tata ethical fund aside as a retirement fund. Can you suggest where can I invest more (sectoral mfs or gold etf etc.)to correctly diversify my portfolio.

Ans: Given your current allocation to 100% equity mutual funds without exposure to banking stocks, let's explore other avenues for diversification while respecting your investment preferences.

One option is to consider adding a component of debt instruments to your portfolio. Debt mutual funds can provide stability and income generation, complementing the growth-oriented equity funds you're already invested in. Look for funds with high-quality debt securities and a track record of consistent returns.

Another avenue to explore is allocating a portion of your portfolio to gold. Gold ETFs or sovereign gold bonds can act as a hedge against inflation and currency fluctuations, diversifying your portfolio and reducing overall risk.

Additionally, you might consider increasing your exposure to international equities. Investing in global markets can provide access to a broader range of opportunities and reduce reliance on any single market or economy.

Ultimately, the key is to maintain a balanced portfolio that aligns with your risk tolerance and long-term financial goals. Consulting with a Certified Financial Planner can help you navigate these options and tailor a diversified investment strategy that suits your needs.

(more)

Ramalingam Kalirajan |939 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Apr 29, 2024

Question by SATISH - Apr 28, 2024Hindi

Money

I have invested in mutual funds and sold 1 Lak of short term funds after 4 years to get 3000 Rs gain. Which ITR should I file 1 or 2?

Ans: As a Certified Financial Planner, I'd advise you to file ITR-2 for this scenario. ITR-2 is applicable for individuals and Hindu Undivided Families (HUFs) who have income from capital gains or more complex sources like multiple properties or foreign income. Since you've sold short-term mutual funds, which fall under the category of capital gains, and earned a gain of Rs. 3000, it's appropriate to use ITR-2 to report this income.

Additionally, ITR-2 allows for the disclosure of income from salary, house property, capital gains, and other sources, making it suitable for individuals with diverse income streams. Ensure you accurately report all relevant details of your mutual fund transactions and any other income you may have earned during the financial year.

Consulting with a tax advisor or accountant can provide further clarity and ensure you file your taxes correctly, maximizing your tax efficiency while staying compliant with regulations.

(more)

Ramalingam Kalirajan |939 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Apr 29, 2024

Question by Harish - Apr 28, 2024Hindi

Money

I have a lumpsum amount of 20lakh to invest but have no idea how to invest to get a steady monthly income.

Ans: It's understandable to feel uncertain about how to make your lump sum work for you. As a Certified Financial Planner, I'm here to help navigate this journey with you. Have you considered the power of diversification?

Diversification is like spreading your bets across multiple horses in a race rather than putting all your money on just one. In the investment world, it means allocating your funds across different types of assets like stocks, bonds, and maybe even commodities or real estate investment trusts (REITs). This way, if one asset underperforms, others may compensate, reducing overall risk.

Active funds are managed by professional fund managers who actively research and select investments they believe will outperform the market. This active management can potentially lead to higher returns compared to simply tracking an index.

Regular funds, accessed through a Mutual Fund Distributor (MFD), provide a structured approach to investing. Your MFD can offer personalized advice and support, helping you navigate the complexities of the market and make informed decisions.

Ultimately, the goal is to create a portfolio that balances risk and reward, tailored to your unique circumstances and financial goals. Together with a Certified Financial Planner and your MFD, we can design a strategy that aims to provide you with a steady monthly income while safeguarding your financial future.

(more)

Ramalingam Kalirajan |939 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Apr 29, 2024

Question by Akshat - Apr 28, 2024Hindi

Money

My salary is 80k in hand and I don’t have any other liability. My parents are dependent on me. My job is in Gurgaon and I stay at 5 hours of travel. I go to office thrice a week. I have a property that’s between my father and uncle. My uncle is asking to sell it offf while my father wants to keep it. Should I take a home loan of 12 lakhs for 4 years or not??

Ans: It sounds like you're facing a significant decision regarding your financial future, especially with your family's dependence on you. Have you considered the broader implications of taking on additional debt? As a Certified Financial Planner, my concern is not just about the numbers but also about ensuring your overall well-being.

Taking a home loan of 12 lakhs over four years might seem like a solution, but it's crucial to weigh the pros and cons. Consider the impact on your monthly cash flow, especially with your salary and travel expenses. Reflect on your long-term goals and whether this loan aligns with them.

Additionally, the dynamics surrounding your property add another layer of complexity. Have you discussed the situation thoroughly with your family, considering both your father's and uncle's perspectives?

Ultimately, the decision rests on finding a balance between your financial obligations, your family's needs, and your own aspirations. Let's explore all angles together to ensure you make the choice that best serves your future.

(more)

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