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Samkit

Samkit Maniar  |44 Answers  |Ask -

Tax Expert - Answered on Feb 03, 2024

CA Samkit Maniar has eight years of experience in income tax, mergers and acquisitions and estate planning.
He has graduated from Mumbai’s N M College of Commerce and Economics and has completed his CA from The Institute of Chartered Accountants of India."... more
Asked by Anonymous - Dec 21, 2023Hindi
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I filed my ITR on 30/7/2023 where my wife's income is clubbed as she has no money of her own. I do share trading in my Trading account as well as my wife's with my money. My ITR has been assessed and Refund already credited to my bank account. I have been filing ITR for 20 yrs clubbing her income. On 10/12/23 my wife received an SMS stating that her ITR not filed and was asked to visit Compliance portal and view 'Non Filers' to verify AIS details. I verified AIS dtls to be correct and stated ITR filed on 30-7-23 with Acknowledgment No. Can I.Tax dept start any proceeding against her? What else ITax dept can do now?

Ans: Explanation to I. Tax department on compliance portal may be sufficient. It is difficult that proceedings may be started against her till the time income on total income is paid (ie your income as well as your spouse's income).
Further, you may need to disclose the clubbed income seperately in your return of income. Since you may be disclosing everything like your income, there are chances that income tax feels that your spouse has not paid taxes on her income. Disclosing it correctly is equally important here.
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

Mihir Tanna  |825 Answers  |Ask -

Tax Expert - Answered on Sep 29, 2022

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Dear Mr Tanna, Before soliciting your sincere opinion I must first congratulate and compliment you for the benevolent job being done to alleviate the problems being faced by the solo taxpayers from the pounce of the IT Office. I would request you to go through my problem which is very much exhaustive and moreover disheartening for the busy people like you. I am a retd employee from LIC in the FY 2020/21. In FY 2021/22 I had received arrears of salary along with commutation of pension and leave encashment. The employer while finalizing the IT for 2021/22 had deducted IT giving the exemption for comm pension, 80CC and 80D without the benefit under sec 89. While filing IT I could see the effect of AIS. Without any further deduction except under 80 TTB, I tried to confirm the Total Taxable Income as per 26AS/AIS. The self-assessed tax was to be paid on three dates because of the ATM limit etc. The last payment which was on 28th July, could not be successful and was debited on 29th as a result I could not add the CIN No etc., on the Add box of tax payment. Since the total amount of tax was paid before the last date i.e 31st I did submit a short paid ITR presuming it would be taken care of. On 1st Aug I received a message under sec 143 with a demand due for 4660/. The e-file status was showing the ITR is under process with O/S demand Nil (four Green tick was displayed). Till Aug 30th when I found the ITR is not accepted despite the grievances as cited above, again I paid the balance amount going thru the demand due option, there also I faced the same problem from bank. The amount could be debited on 31St Aug. I did pay the amount thinking the ITR and tax deposit are different Module. Moreover after filing ITR I made a query with the ITO regarding exemption of Transfer grant which should have been allowed at source. They denied it under pretext that no further exemption after filling. In order to see the last payment due appear under SAT head I had submitted a grievance which was not seen till I spoke to the help desk. One reply came with so many tags to file revised IT under section 131 (5). While I visited for re-file, I could see the interest amount along with an increased taxable income thus returned back. Now my questions are: 1. How the taxable income would vary when a letter under 143 is issued with a demand? 2. If I am to re-submit the ITR under Sec 131 (5) can I restrict the taxable income to the earlier one? 3. Can they alter the taxable income when Sec 143 is invoked? 4. Finally, should I conform to the query or wait till they make their earlier demand set right. Sir I had filled it by myself without the help of a professional. Your opinion would be mostly an antidote against the IT virus that has made me upset. Eagerly awaiting your reply.
Ans: Thank you so much for your compliment. Looking at your facts, I wish you could have got professional advice on 1st August itself. My views on your queries are as follows:

  1. I understand you are using online feature of filing Income Tax Return at www.incometax.gov.in wherein data is prefilled based on information reported by different persons (like employer for salary, bank for interest income, company for dividend income, TDS deductor for TDS deducted and amount of income credited, etc.). In your case, it might be possible that reportable entity has revised its data for reporting to income tax department and accordingly amount appearing in intimation issued u/s 143(1) differs from amount auto populated while filing income tax return u/s 139(5) of Income Tax Act using online feature.
  1. It is not advisable to restrict auto populated income unless income auto populated at e-filing portal is incorrect. Check AIS for income auto populated at e-filing portal. If income appearing in AIS is incorrect, you can file feedback for AIS and offer actual income to tax while filing return u/s 139(5) of the act which allow tax payer to revise return by rectifying mistakes.
  1. Yes, income tax provides updated figure at portal even if intimation is issued u/s 143(1) of the Act, as revised figures is provided by the payer of income or person authorised as reportable entity.  
  1. I understand you are talking about self-assessment tax paid by you and not auto populated in relevant schedule of ITR. Reason for the same can be wrong selection of year or code while making payment or while uploading challan details by the bank. Please check 26AS for self-assessment tax paid, if the same is not appearing in 26AS of AY 2022-23, you have to discuss said issue with Jurisdictional officer.

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Moneywize

Moneywize   |106 Answers  |Ask -

Financial Planner - Answered on Jan 29, 2024

Asked by Anonymous - Jan 29, 2024Hindi
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I filed my ITR in July 30, 2023 clubbing together my wife's income, ITR processed and Refund credited to my Bank a/c. I invest/trade in equities in our names but out of my own funds, wife has no fund of her own. I have been filing ITR for last 20 yrs clubbing wife's income. (*) On 11/11/23 an SMS came stating that her income for AY 2023-24 has not been filed and asked to visit ITax Compliance Portal and respond under e-campaign which I did and gave response stating my ITR Acknowedgement No. and Date of filing. (*) Is it necessary to file separate ITR for her? Can IT Dept start proceeding etc against her? Thank you very much Awaiting your reply asap.
Ans: There could be many layers to it, and so it's important to consult with a tax professional for tailored solution to your specific situation.

When you file your income tax return (ITR) by clubbing your wife's income, it typically means that both your incomes are reported together in a single return. In such cases, it's important to ensure that all relevant details and incomes are correctly disclosed while filing the ITR.

Regarding the SMS you received, it's possible that there might be some discrepancy or confusion in the information received by the income tax department. Responding to the e-campaign with your ITR Acknowledgment Number and the date of filing should provide them with the necessary information.

However, if your wife has a separate source of income or if there are specific requirements for her to file a separate return, it's advisable to clarify this with a tax professional. The income tax department may require separate filings for individuals with their own sources of income.

If there are any discrepancies or if the income tax department requires additional information, they may initiate proceedings. It's crucial to respond to any communication from the tax department promptly and accurately.

To ensure you have the most accurate and up-to-date information, consider consulting with a tax professional or reaching out to the income tax department directly to seek more clarification on the specific requirements for your situation.

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Chocko

Chocko Valliappa  |215 Answers  |Ask -

Tech Entrepreneur, Educationist - Answered on May 09, 2024

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Sir i am a civil engineer graduate 2023 i did my graduation in civil engineering from a tire 2 -3 college from mumbai university . I didn’t get any job its not like that i am dum student or else i was not good at studies u definitely found partility that in civil they took all diploma + degree holders with less knowledge also in companies such a worley , godrej , technimont etc mnc companies with salary of 6-7 lpa but sir i was scattered because i lost my dad in covid my mom is working but her salary is just 50k and now after trying out for jobs as fresher i found a job in IIT bombay as project technical assistant which gives me 30k but its in ocean department. Now i want to learn further i am seeing people doing masters from priavte university like nicmar adani symbiosis etc in construction or infrastructure management. I am stuck jn life what to do im trying for government but i know government junior engineers job wont pay me much to buy home for my mom . In such case what will be best please help
Ans: I fully empathize with your situation. Do focus on the positive of having completed BTech in Civil Engineering. Civil Engineering is the foundational engineering discipline and lends itself to use of new tools and technologies through use of of software to build structures using design elements that use newer materials to build infrastructure, homes, industrial townships that further sustainability. Use your current Tech Asstt job to learn about Oceanography as an added skills. Look at acquiring project management skills and explore opportunities with optimism and passion.

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