If I have paid excess tax, how will it be refunded to me?
You are eligible to receive an income tax refund if you have paid
more tax to the government than your actual tax liability.
Process to claim a tax refund: In order to claim an income tax refund, it is mandatory to file an ITR.
Once the I-T department verifies your ITR and the refund claim made by you, it will communicate the
outcome to you. If you have filed ITR electronically, the I-T department will send you an e-mail or an
SMS. Refund, if accepted as due, will normally be credited to the bank account you had mentioned for
this purpose in your tax return.
Is it necessary to attach documents with Income tax return?
ITR forms, whether filed manually or filed electronically, do not
require any documents like proof of investment, TDS certificates, etc. However, these documents should
be retained by the taxpayer and produced before the tax authorities when demanded in situations like
assessment, inquiry, etc.
What is Form 26AS?
Form 26AS reflects the details of tax credit in respect of taxes
deducted for the taxpayer as per the database of the I-T Department. The tax credit may cover TDS, TCS
and tax paid by the taxpayer in other forms like advance tax, self-assessment tax, etc.
What should one do in case of discrepancies in actual TDS and TDS
credit as per Form 26AS?
The actual amount of TDS and TDS credit in Form 26AS may differ and
the TDS credit in the form may be less as compared to the actual TDS. This may happen due to reasons
like non-furnishing of TDS details to the I-T Department by the deductor, linking the tax deducted to
an incorrect PAN, etc. In such a case, the deductee should approach the deductor and request to take
necessary steps to rectify the discrepancy due to above reasons.
How many times can I file the revised return?
You can do it multiple times till the expiry of one year time limit.
From where can I take the help of any expert on Income-tax related
matters?
You can take the help from tax professionals of JJ Tax App. They
will help you with the filing of return and in the post filing compliances as well.
I am an agriculturist, is my income taxable?
Agricultural income is not taxable. However, if you have
non-agricultural income too along with agricultural income, then while calculating tax on
non-agricultural income, your agricultural income will be taken into account for the purpose of tax
rate. Section 2(IA) can be referred to know more in respect of Agricultural Income.
What is Part A and Part B of Form No. 16?
The Form 16 is as per the standard format prescribed by Income tax
rules. As per that format, it has two parts, Part A and Part B. The Part A contains the basic
information about the employer and employee like his address and TAN and PAN and the gross amount of
income given by him to employee. In Part B, the complete details about different income sources,
amounts of income and claimed deductions and the taxes deducted thereon are mentioned. Part B is most
important for filing I-T Return.
How to E-Verify Income Tax Return?
Mode and process of generating and validating income tax returns through Electronic Verification
Code (EVC):
- Through Aadhaar Number OTP
- Generation of EVC
- Through Net banking
- Through Email id and Mobile Number
- Pre-validating Bank Account Number
- Through Demat Account Number
- E-Verify through available EVC (If already having the same)
