Income Tax

Yeah even i know. But its actually until the amount of evasion is less as compared to their "Tolerance" level i guess. They have too many bigwigs to run after, rather than recovering petty 1000s from small taxpayers.

well. the fact remains, it is easy to recover money from small tax payers. they are the ones that would give up easily. rich people can get away with literally anything. reliance is a good example. if i remember reading an article correctly, they paid no taxes for years initially. used every possible loophole in the book. every corporate does that. and it is not easy to catch them on legal grounds. folks like us are easy targets.

Its easy to recover, but its headache, nothing else!! First they send notice that so much is payable, then that person hires an expert to fight his case, it goes on for months or years & ultimately at the end, the liability is settled & that amount is paid. For a few 1000s, they have to wait for long. And its not just the time taken, its the hassles involved too!And the Reliance example u gave is a completely different thing than what we are discussing. They "File" such returns, that they dont have to pay much taxes.Whereas we are discussing about people escaping without filing returns, or even obtaining PANs. I have seen clients who have to literally force their suppliers, etc to get a PAN.

I've got 3 such sms messages within the past 3 days and i'm currently just in college :dry:

This is part of a long term strategy by the govt to encourage tax payments by future generations. They can then claim that 'through a strategic mix of pro active promotion and awareness creation, income tax filing has shot through the roof'. You now know that there is something called IT returns, and after all these SMSs, you want to do it just so you can get rid of those SMS 😛

Thats exactly what i was trying to explain........i posted different things, but such a simple statement didnt click at all!!

The Karnataka High Court, in a recent judgement, passed strictures on Income-Tax (I-T) department for filing repeated appeals and wasting taxpayers’ money. “It seems that the (I-T) department is filing these appeals mechanically—either for the purpose of statistics or to save their skins without application of mind,” the court said. It also said the I-T department can recover the cost of Rs1 lakh from the official who has decided to file these appeals.



High court says I-T department filing appeals ‘mechanically’

I paid my advance income tax online for the year 2011-12.In the online form,Instead of giving the assessment year 2011-12 I gave 2010-11.After that,I paid my advance tax again with correct assessment year i.e 2011-12.That means i paid the same amount of tax 2 times.Now i need refund of my money that i paid with the wrong assessment year.Now what is the procedure to get my refund?

File your returns again and claim it as refund.

File your returns again and claim it as refund.
How can i claim refund?

In the returns form where you declare your income and taxes paid, at the end of it it shows the amount that you have paid extra and there is a provision to provide your bank account number to which you want the refund to come.

I paid my advance tax online.Is there any form online to claim refund?

1 way i can see by which u can claim it - File a revised return for AY 2010-11. Under Section 139 (5):

" If any person, having furnished a return under sub-section (1), or in pursuance of a notice issued under sub-section (1) of section 142, discovers any omission or any wrong statement therein, he may furnish a revised return at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier "

incometaxindia.gov.in - Direct Tax Laws

So u can show the excess money paid for that AY & claim a refund. Now how long it takes, depends upon the mood of ur AO!

Btw, I had a question - If its Advance tax, then it is for AY 2012-13? Coz then only ur PY would be 2011-12, which is the current year.

PS: Correct me if i am wrong here....i m under the influence of Alcohol (Cough syrup! 😀)

I paid my advance tax online.Is there any form online to claim refund?
Online tax return filing.

----------

Btw, I had a question - If its Advance tax, then it is for AY 2012-13? Coz then only ur PY would be 2011-12, which is the current year.


I think he messed up twice. He says he first filled the AY as 2010 - 11, and then as 2011 -12. So his returns should be filed for FY 2009 - 10 and 2010 - 11, and finally he should pay it up for FY 2011 - 12.

Exactly! I just wanted to doubly confirm this thing.

1 way i can see by which u can claim it - File a revised return for AY 2010-11. Under Section 139 (5):

" If any person, having furnished a return under sub-section (1), or in pursuance of a notice issued under sub-section (1) of section 142, discovers any omission or any wrong statement therein, he may furnish a revised return at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier "

incometaxindia.gov.in - Direct Tax Laws

So u can show the excess money paid for that AY & claim a refund. Now how long it takes, depends upon the mood of ur AO!

Btw, I had a question - If its Advance tax, then it is for AY 2012-13? Coz then only ur PY would be 2011-12, which is the current year.

PS: Correct me if i am wrong here....i m under the influence of Alcohol (Cough syrup! 😀)

I paid advance tax for the year 2011-12 two times.First time with wrong assessment year and second time with correct assessment year.Can you understand me?