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Tejas

Tejas Chokshi  | Answer  |Ask -

Tax Expert - Answered on Jun 12, 2023

CA Tejas Chokshi has over 20 years of experience in financial planning, income tax planning, strategic and risk advisory, banking and financial products and accounting and auditing.
He is an information system auditor, a forensic auditor and concurrent bank auditor.
Chokshi, who has a master’s degree in management, audit and accounting from Gujarat University, has completed his CA from the Institute of Chartered Accountants of India.... more
Asked by Anonymous - Jun 11, 2023Hindi
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Hello Tejas, My childr is currenly studying in the US. I have made two remittances overseas, for her tution and maintenance fee, during the finacial year 2022-23. A certain percentage of the amount has been deducted as tax, by the bank. The bank has also issued a certificate for this deduction. This I think is refundable under the current RBI remittance rule. How can I seek a refund of this amount from the income tax department. Thank you

Ans: Tax deduction is not applicable if the funds are remitted abroad for maintenance and education purposes, abroad.
Since, bank has deducted the same , it may be claimed as refund, if you do not have any other tax payable.
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  |1033 Answers  |Ask -

Tax Expert - Answered on Sep 29, 2022

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I am a retired male senior citizen. I filed my income tax return for AY 2022-23 in form ITR-1 on 22nd July 2022 with NET Taxable income of 427200 with a mention of 5070 for rebate under 80 D towards my mediclaim insurance annual premium. Before doing the e-verification on line through Aadhaar linkage I noticed that my actual mediclaim insurance premium is 7070 which I had erroneously mistyped as 5070. So instead of e-verifying my above erroneous filing I filed a Revised Return on 20th August 2022 correcting the 80 D rebate claim to 7070 and the Net Taxable income became 425200. I e-verified this Revised Return immediately on line through Aadhaar linkage. Within 2 days of my filing this Revised Return I got an assessment Email from Income tax department where they have treated this Revised Return as Late filed Original Return and imposed a late fee penalty of 1000 and issued a Refund Order of my TDS. As such on my Net Taxable income of 427200 as per Original Return or 425200 as per Revised Return Income Tax is '0'. It appears that since I didn't e-verify my Original Return they have treated Revised Return as Late filed Original Return and imposed late fee of 1000. Now I am getting repeated emails from Income Tax department that I have not e-verified my Original Return of 22nd July. Can I e-verify my Original Return now and claim Refund of the 1000 Late Fee deducted by them? Shall be grateful for guidance and advice.
Ans: Return is taken up for processing only when it is verified. As revised return is verified before verifying original return, revised return is considered as original return. So in my view, even if original return is verified now, late fee will not be waived off as original return is considered to be filed after due date.

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