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Mihir Tanna |580 Answers |Ask -Follow

Tax Expert - Answered on Aug 17, 2023

Asked by Anonymous - Aug 07, 2023

Money

I had made mistake in self assessment tax challan fir AY 23-24, I had selected advance tax for AY 24-25 I submitted letter to ITO , 40days ago for rectification in challan and visited office twice, but they are not correcting mistakes Now, I have received demand notice, how to reply it online? Please advise

Ans: f rectification application is pending with Jurisdictional assessing officer, person should disagree with demand and select appropriate option stating details of said rectification.

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 |580 Answers |Ask -Follow

Tax Expert - Answered on Jul 21, 2023

Asked by Anonymous - Jul 20, 2023

Money

While paying self assessment tax challan for AY 22-24 , I selected advance tax for AY 24-25 by mistake I have personally submitted letter to AO for correction in challan 20-22 days ago but corrections have not yet been made, They say challan is not reflecting in our system so can't correct In this case I may receive demand notice after processing of my return , Then how to rectify the mistake online without going to income tax office again ? After receiving demand notice,can we rectify mistake by adjusting advance tax with self assessment tax and close the demand?

Ans: In case of wrong assessment year selection in tax payment challan, assessing officer has power to correct financial year. As deadline for AY 2023-24 is approaching, it is advisable to show said challan in ITR and get it rectified from officer at the earliest. Till the time credit is available in AY 2023-24, demand will not be closed.

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Mihir Tanna |580 Answers |Ask -Follow

Tax Expert - Answered on Jul 21, 2023

Asked by Anonymous - Jul 20, 2023

Money

While paying self assessment tax challan for AY 23-24 , I selected advance tax for AY 24-25 by mistake I have personally submitted letter to AO for correction in challan 20-22 days ago but corrections have not yet been made, They say challan is not reflecting in our system so can't correct .while it is showing as advance tax in my AIS for AY 24 -25 In this case I may receive demand notice after processing of my return , Then how to rectify the mistake online without going to income tax office again ? After receiving demand notice,can we rectify mistake by adjusting advance tax with self assessment tax and close the demand? Or I will have to file revised return after receiving demand notice through 143 (1) ? Please advise

Ans: In case of wrong assessment year selection in tax payment challan, assessing officer has power to correct financial year. As deadline for AY 2023-24 is approaching, it is advisable to show said challan in ITR and get it rectified from officer at the earliest. Till the time credit is available in AY 2023-24, demand will not be closed.

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Mihir Tanna |580 Answers |Ask -Follow

Tax Expert - Answered on Aug 07, 2023

Asked by Anonymous - Aug 05, 2023

Money

I had made mistake in self assessment tax challan fir AY 23-24, I had selected advance tax for AY 24-25 I submitted letter to ITO , 40days ago for rectification in challan and visited office twice, but they are not correcting mistakes Now, I have received demand notice, how to reply it online?

Ans: If rectification application is pending with Jurisdictional assessing officer, person should disagree with demand and select appropriate option stating details of said rectification.

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Tejas Chokshi |126 Answers |Ask -Follow

Tax Expert - Answered on Aug 07, 2023

Asked by Anonymous - Aug 07, 2023

Money

I had made mistake in self assessment tax challan fir AY 23-24, I had selected advance tax for AY 24-25 I submitted letter to ITO , 40days ago for rectification in challan and visited office twice, but they are not correcting mistakes Now, I have received demand notice, how to reply it online? Pl advise

Ans: In my opinion, you may be required to prepare an undertaking that the tax which is seen as advance tax was ment for SA tax for Ay 23-24 and you may mention to consider this as tax paid for AY 23-24. you may upload this declaration against reponse . Also rectification may be required with the above information. Both these steps are online.

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Vivek Lala |155 Answers |Ask -Follow

Tax, MF Expert - Answered on Aug 25, 2023

Asked by Anonymous - Aug 07, 2023

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I had made mistake in self assessment tax challan fir AY 23-24, I had selected advance tax for AY 24-25 I submitted letter to ITO , 40days ago for rectification in challan and visited office twice, but they are not correcting mistakes Now, I have received demand notice, how to reply it online?

Ans: Mention the same reason while replying to the demand notice, they shall take it into consideration

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Dr Vinod Kumar |71 Answers |Ask -Follow

Kidney Health Specialist - Answered on Sep 23, 2023

Question by Lalit - Sep 23, 2023

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I am 49 years old. My only problem with Urine is that initially flow is near to normal but later on it becomes very slow. I take around 2 to 3 minutes to urinate

Ans: Consult an urologist.

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Aruna Agarwal |33 Answers |Ask -Follow

Child and Parenting Counsellor - Answered on Sep 23, 2023

Question by Pardeep - Sep 05, 2023

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Dear Ma'am, I have a child who studies in 9th Class.He has developed addiction for Mobile Games.He has not much interest in Study.He does not prefer to go tuition classes also and even finds fault with his teachers.He never obeys me and rather talks me back.It seems he has gone out of my control.He gets up late in the morning and awake late light.He prefers to play out with his friends and not ready to name study and always demands one thing or the other. What to do to mend his ways ? I am even running out of funds to support his study in Pvt School. Regards,

Ans: Put him on self awareness and control using some token strategy.
Every right behaviour get him a token and negative behaviour token can be kept back.
When using this strategy, you need to be mindful by giving token only for right behaviour. He can collect it and exchange the same to get a reward from you.

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Vivek Lala |155 Answers |Ask -Follow

Tax, MF Expert - Answered on Sep 23, 2023

Question by S - Jun 25, 2023

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I have invested in the following funds and require your advice on holding or Switching ----1) SBI Focused Equity fund Regular growth - 645 units @ Rs.227 purchased on 4th aug 2022,----2) SBI Blue Chip Fund Regular Growth - 822 units @ Rs.60.84 purchased on 4.8.22, ----3) SBI Multicap Fund Regular Plan Growth - 34953 units @ Rs.10.59 on 4.8.22,----4) HDFC Tax Saver Direct Plan Growth Option - One time Investment of Rs.40000/-on 9.3.20,----5) HDFC Developed World Indexes FundOf Fund - One time investment of RS.50000/- ON 21.10.21, ----6)HDFC Equity Savings Fund Direct Plan Growth--One time investment of Rs.70000/- on 21.10.21,----7) HDFC Nifty Next50Index Fund direct growth - One time investment of Rs.50000/- on 3.11.21

Ans: Hello, the selection of funds should have a goal attached to it. This investment style seems to be cluttered and not very definitive in terms of the goals it has. Do speak to an advisor / distributor in person for the same.

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Dr Vinod Kumar |71 Answers |Ask -Follow

Kidney Health Specialist - Answered on Sep 23, 2023

Question by Vinay - Sep 20, 2023

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Dr I was having frequent urination type feeling a year back, showed to urologist and, and done urine test, culture, even done scan, uro flow test every thing was normal, taken clonotril .25 mg , argon powder, the problem was there for 6 months and it became alright, now again this problem has started, kindly advise

Ans: Consult an urologist.

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Dr Vinod Kumar |71 Answers |Ask -Follow

Kidney Health Specialist - Answered on Sep 23, 2023

Asked by Anonymous - Aug 16, 2023

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Hello sir if BP , lipid, echo, TMT are normal for a person who quit smoking 6 years ago but enjoys evening drink , should this person go for 128 slice non invasive CT angiogram? And what are the side effects of radiation exposure and the dye which is given to do this test ? Will It harm kidneys? Thanks

Ans: She can damage the kidneys if there are certain risk factors like dehydration, pre-existing kidney disease, infection, certain medications.
If none of these things are there, there should not be an issue.

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Vivek Lala |155 Answers |Ask -Follow

Tax, MF Expert - Answered on Sep 23, 2023

Question by Jayant - Jun 01, 2023

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Hello, I have three LIC policies that have been paid for the past eight years since my last company gave them to me when I left the company. I've been paying the premium ever since the firm sent me a letter transferring the insurance in 2014. Can I modify the name in the policy in LIC ?

Ans: Hello, do confirm this with the customer care of LIC as it depends on the type of policy you have or speak to the HR of your company for the same.

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Aruna Agarwal |33 Answers |Ask -Follow

Child and Parenting Counsellor - Answered on Sep 23, 2023

Asked by Anonymous - Aug 28, 2023

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Regarding my niece, she does 300 words. Her major issue is she does not sit still at all and she wants to keep talking and unable to stay quiet for long. What should be done.

Ans: Involve her in her choice of activities to build up on her sitting tolerance and work on her attention skills to get better. This will help her to redirect her attention to other things by giving her more options to engage productively.

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Tax, MF Expert - Answered on Sep 23, 2023

Question by Papai - Sep 22, 2023

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I am 41, my sip portrolio is as below: 1. Icici pru bluechip: 1000/month sip 2.hdfc midcap opportunities: 100/bz day sip 3.sbi small cap: 4000/month sip 4.hdfc small cap: 65954 lumpsum 5.parag parik flexicap: 20000 lumpsum 6.sbi focused fund: 2500/month sip 7.hsbc value fund: 2500/montb sip 8.icici equity and debt: 1000/month sip 15% increment yearly 9. Icici technology fund: 1000/month sip 15 c/o yearly increment 2 balanced fund icici baf and hdfc baf 50000 rs lumpsum each Risk appetite: high, investment horizon; 20 years Goal: accumulate max amount 10 cr if possible.

Ans: Hello , as I can see your time horizon is 20 years so you can take some volatility in your portfolio.
You should go for the following allocations :
Small cap 30% , mid cap 30% , multi cap 15% , large and mid cap 15% , thematic funds ( consumption, tech, etc ) 10%
If you want to accumulate 10crs in 20yrs your sip amount has to be Rs.101000 at the rate of 12% xirr

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Sanjeev Govila |192 Answers |Ask -Follow

Financial Planner - Answered on Sep 23, 2023

Asked by Anonymous - Sep 22, 2023

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I need 1 lakh ₹ loan what i do sir.. (Manoj)

Ans: Please contact suitable lending agencies like your bank, a P2P lending platform, or maybe even through your family and/or friends.

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Sanjeev Govila |192 Answers |Ask -Follow

Financial Planner - Answered on Sep 23, 2023

Asked by Anonymous - Sep 22, 2023

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🙏 dear sir my name manoj kumar, Credit/cibil score is not showing.. What is the Reason, please help,

Ans: Please contact the service provider you have chosen to view your credit score.

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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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