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Sanjeev Govila |458 Answers |Ask -Follow

Financial Planner - Answered on Nov 11, 2023

Colonel Sanjeev Govila (retd) is the founder of Hum Fauji Initiatives, a financial planning company dedicated to the armed forces personnel and their families.
He has over 12 years of experience in financial planning and is a SEBI certified registered investment advisor; he is also accredited with AMFI and IRDA.... more

Question by Damji on Oct 30, 2023Hindi

Money

I file returns in 29 September 23, and same day revised my returns do to mistake of refund amount. I received original refund claim but not received revised return amount till now give me advice

Ans: You can expect to receive your refund within 20 to 45 days after your return has been processed.
Here are a few things you can do to follow up on your refund:

1. Check the status of your return online. You can do this by logging into your e-filing account and clicking on the "Check Refund Status" tab.
2. Contact the Income Tax Department. You can call the department's helpline at 1800-103-0025 or 1800-419-0025.
3. If you haven't received the refund, you can also submit a grievance on the e-filing portal of Income tax.

An interest of 0.5% per month is paid by Income tax department from April 1 till the date on which the refund is granted. However, such interest is not payable when the tax refund is less than 10% of the total tax liability.

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.

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Mihir Tanna |1033 Answers |Ask -Follow

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Question by Manish - Apr 28, 2023Hindi

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Good Morning Sir, Continuing with previous mail with you. Due date of filing of revised Income tax return of AY 2022-23 is 31.12.2022 is over. what can i do now because money was not refunded by Income tax authority as I did not have tax liability for above AY which was deposited money by mistake from me on 31.12.2022 . I do not get any solution of your previous mail. Thanks & Regards, Manish Kumar

Ans: As per income tax circular 9/2015 for CONDONATION OF DELAY IN FILING REFUND, The Principal Commissioners of Income-tax/Commissioners of Income-tax (Pr.CsIT/CsIT) shall be vested with the powers of acceptance/rejection of such applications/claims if the amount of such claims is not more than Rs.10 lakhs for any one assessment year.

Power of acceptance/rejection of the application will be subject to satisfaction that it is the case of genuine hardship on merits and necessary inquiry in made to ascertain the correctness of claim.

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Question by Litton - Aug 13, 2023Hindi

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I filed my IT return on 23rd May and it got processed on 23rd June but still i have not got regund

Ans: Hello, do check if the bank account mentioned is correct
Also you can raise a refund reissue request on the website itself

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Question by Vivek - Oct 05, 2023Hindi

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I have filed my IT return wherein 20000/- is to be refunded. But the refund not yet received since 2 months have been passed.

Ans: Please check if bank account is validated and available for refund (not restricted). Also check if any old demand is outstanding and return is processed with refund.

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Asked by Anonymous - Oct 05, 2023Hindi

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My income tax refund not received. I filed IT return on 21st July 2023.

Ans: Please check if bank account is validated and available for refund (not restricted). Also check if any old demand is outstanding and return is processed with refund.

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Question by P - Mar 11, 2025Hindi

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My loans have crossed 40 lakhs and i dont have job. I dont know what should i do as i do not have any money to pay back. I am taking loans to repay interest for old loans.

Ans: Hello;

Sell some of your asset like land, gold or vehicle to repay the loan on priority.

Don't borrow to repay existing loans. Restructure the loans or seek a moratorium till you get a job.

Borrow funds from family and friends explaining your mistakes and promise to repay once you get another job.

Keep in mind the old saying to cut your cloth as per your size and act accordingly.

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Sir I have 98 percentile in jee mains obc-ncl category uttar pradesh can I get cse or ecce in NIT

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If I failed in class 12 in one subject this year. but passed in jee mains. can i still give advanced? considering that I will pass boards in compartment exams with minimum of 75%. Compartment will be in July and its result gets declared in August. Even if im eligible, wont it affect my councelling process. as it is in june july only?

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Through joint development agreement with developer,new flats after construction are provided to landowners in lieu of 30% of land provided to developer .There is no cost involved to the owner.What will be tax implications including capital gain for landowner?

Ans: Landowner is liable to pay Income Tax for the portion he is surrendering to the builder. Sale Consideration will be considered as value of developed area on stamp duty rate, you have retained after its Redevelopment.
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i have a flat in mumbai which has gone for redevelopment. out of total area i am surrendering 400 sq feet to builder. will my money be liable for Income tax

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Asked by Anonymous - Feb 27, 2025Hindi

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Hello! I am resident of Canada ,wants to get Rs 40 lakhs from India from my father for making a down payment of property I looking to purchase in Canada.just want to ask do my father have to pay any tax on it, he is looking to sell a plot

Ans: 01. When your father sells a plot in India, he would be subject to Capital Gain Tax (may be Long Term or Short Term), under the I.T.Act.
02. TCS will be collected/deducted, when your father transfer you money.
03. TCS deducted can be claimed back by filing his ITR. Amount of TCS shall be refunded after adjustment of due taxes in his ITR.
04. Please note that both these transactions should be done in the same financial year.
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Asked by Anonymous - Mar 12, 2025Hindi

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Hello, I am in relationship with a girl and she is started getting white patches. I am scared to marry her as it passes on genetically but at the same time I feel guilty of leaving her. I am so stuck in my life. What should I do?

Ans: It sounds like you’re facing a deep internal conflict - one between fear and love, between logic and emotion. And that’s completely human. Ask yourself - What are you truly afraid of? Is it the uncertainty of the future? The possibility of judgment? Or is it the weight of responsibility that love brings?
Relationships are rarely about guarantees. They’re about choices - choosing to stand by someone despite the unknowns, despite the imperfections. But the real question isn’t about her condition. It’s about you. What do you value more - certainty or connection? Fear or commitment? What kind of partner do you want to be, not just for her, but for yourself?
Because in the end, it’s not about genetics. It’s about who you choose to be when faced with uncertainty. So, who do you want to become?
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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.

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