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Mihir

Mihir Tanna  |1089 Answers  |Ask -

Tax Expert - Answered on Oct 20, 2022

Mihir Ashok Tanna, who works with a well-known chartered accountancy firm in Mumbai, has more than 15 years of experience in direct taxation.
He handles various kinds of matters related to direct tax such as PAN/ TAN application; compliance including ITR, TDS return filing; issuance/ filing of statutory forms like Form 15CB, Form 61A, etc; application u/s 10(46); application for condonation of delay; application for lower/ nil TDS certificate; transfer pricing and study report; advisory/ opinion on direct tax matters; handling various income-tax notices; compounding application on show cause for TDS default; verification of books for TDS/ TCS/ equalisation levy compliance; application for pending income-tax demand and refund; charitable trust taxation and compliance; income-tax scrutiny and CIT(A) for all types of taxpayers including individuals, firms, LLPs, corporates, trusts, non-resident individuals and companies.
He regularly represents clients before the income tax authorities including the commissioner of income tax (appeal).... more
Sharad Question by Sharad on Oct 20, 2022Hindi
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My wife has filed IT returns in time based on the Form 16 received from employer. It was noticed that the tax received as per 26AS was less than shown in Form16. 

Now employee has informed that it was a mistake in Form 16 and may issue revised Form 16.

Now if revised ITR is filed does she need to pay Rs 5,000 to IT for no mistake of hers?

Ans: If original return is filed before due date and same is verified within 120 days (before filing revised return), late filing fee is not applicable.

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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Anil

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Financial Planner - Answered on Jul 27, 2022

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Appreciate the work you are doing for non-finance background people (like me). I have a question related to income tax if you could help resolve it. I filed IT return before 31st Dec and observed the Form 16 provided by the employer is incomplete. Basically, our organisation went through a legal entity change last year, so ideally we should have got two Form 16s: One for the previous entity and another for the new entity. During filing the return, only new Form 16 was considered by mistake and I have a previous entity Form 16 in hand now but after filing the returns how do I correct my IT returns? Again, thank you in advance for all help.
Ans: You can rectify errors made in income tax filing even after you finish filing under section 139 (5) and you can do refiling. This revised return can be filed before three months prior to the end of the relevant assessment year or before the completion of the assessment. So, the last date for you to to file a revised return using both the form 16 for FY 2021-22 (AY 2022-23) is December 31, 2022, for ITR filed for FY 2021-22.

When you do re-filing, you are supposed to select the option ' Revised u/s 139(5)' in the 'return filed under' column. The ITR form will additionally ask you for details of the original ITR, i.e., receipt number and date of filing of original ITR.

Since you have 2 Form 16s, after uploading the first Form 16, you need to click on ‘upload another Form 16’ and submit so that both Form 16s gets uploaded.

I must highlight that normally when you have 2 Form 16s there would be additional tax payable due to double count of various exemption limits and deductions in each Form 16. You would end up paying interest on the additional tax as well.

..Read more

Mihir

Mihir Tanna  |1089 Answers  |Ask -

Tax Expert - Answered on Nov 02, 2022

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I have filed my ITR-1 for AY 21-22 in time. Demand was raised on 14 Jan for Rs 1,690 on processing of my ITR. a) I have paid the amount on 27 May, 2022 through net banking against challan no 10574. BSR code 0510308. I have erroneously paid Rs 1,690 in serial 300 (self-assessment) instead of SL 400. The amount remains to be shown outstanding in mine account and acceptance of return remains pending. I have tried to correct the SL 400 through my PAN account but I have not been successful in changing serial. In rectification icon this amount of Rs 1690 is not shown because only payments prior to submission of ITR are only shown. However, this Rs 1,690 is shown in it is shown in 26As. So I have not been able to change to SL 400 instead of SL 300. b) I requested for reprocess of ITR so that this amount may get reflected and ITR will be accepted. After reprocessing request amount has been reduced to Rs 1,230. But ITR has not been accepted. It is showing with additional interest of Rs 108 as on today. c) Additionally Rs.1690 + Rs 112 has been deducted from refund of next year return on 14 September 22. This is also reflected in 26AS d) Therefore I have paid Rs1690 through net banking challan plus Rs 1,690 through deduction from refund plus Rs 112 as interest. Total payment made 1,690+1,690+112 = Rs 3,492. Whereas I am required to pay only Rs 1,230. e) ITR still outstanding and not accepted till date and amount of Rs 1,230 is reflected unpaid. Sir my query is: a) Am I required to pay amount Rs 1,230 + interest? After the re- processing, despite having paid Rs 1,690 against initial demand by net banking plus there has been deduction from refunds. i.e. twice if I ask for re-processing? b) Now that amount has been paid. What action I need to take to complete the processing of ITR.
Ans: If tax demand is paid after 30 days, income tax charge interest @1%. I understand that Rs 112 is interest charged for late payment of tax demand and all other demands are not valid. Such demand can be deleted by filing application u/s 154 of the income tax act.

Check e-filing portal “outstanding demand” tab. If rectification rights are with CPC, you can request CPC Customer Care to transfer ITR to assessing officer.

Once the case is transferred, you can explain the issue to jurisdictional officer, request officer to pass rectification order as mistake is appearing from records and issue refund for wrongly adjustment of next year refund.

..Read more

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Dating, Relationships Expert - Answered on Dec 04, 2025

Asked by Anonymous - Dec 02, 2025Hindi
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My married ex still texts me for comfort. Because of him, I am unable to move on. He makes me feel guilty by saying he got married out of family pressure. His dad is a cardiac patient and mom is being treated for cancer. He comforts me by saying he will get separated soon and we will get married because he only loves me. We have been in a relationship for 14 years and despite everything we tried, his parents refused to accept me, so he chose to get married to someone who understands our situation. I don't know when he will separate from his wife. She knows about us too but she comes from a traditional family. She also confirmed there is no physical intimacy between them. I trust him, but is it worth losing my youth for him? Honestly, I am worried and very confused.
Ans: Dear Anonymous,
I understand how difficult it is to let go of a relationship you have built from scratch, but is it really how you want to continue? It really seems to be going nowhere. His parents are already in bad health and he married someone else for their happiness. Does it seem like he will be able to leave her? So many people’s happiness and lives depend on this one decision. I think it’s about time you and your BF have a clear conversation about the same. If he can’t give a proper timeline, please try to understand his situation. But also make sure he understands yours and maybe rethink this equation. It really isn’t healthy. You deserve a love you can have wholly, and not just in pieces, and in the shadows.

Hope this helps

...Read more

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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