Here's where we step in with our experts, Relax With Tax.
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I began working in September 2005 with a salary of Rs 2,10,000 per annum. Do I have to file a return this year?
- A Nishad
Apparently, your gross income for seven months of employment would be approximately Rs 1,22,500.
As the income is in excess of the stipulated base limit of Rs 1,00,000, the answer is yes. You would be required to file your tax return.
In case of women, this base limit would be Rs 1,35,000. So, if it is a woman who is asking this question, then you would not be required to file a return for the above-referred income.
In case you are not required to file your IT returns based on the income criteria, you would need to check if you fall under the one-by-six scheme for filing of a return. That means, if you owned a vehicle, cell phone, credit card, property, have traveled abroad or have become a member of a club where membership fees exceed Rs 25,000, you will have to file a return.
In the financial year 2003-04, my employer deducted the tax from my salary and later provided me with Form 16. But because of problems with my PAN, I was unable to fill the returns.
What can be the possible outcome of this?
- Vivek Prasad
In case the PAN has been wrongly quoted in the Form 16, you could write a letter addressed to your income tax ward officer bringing out this fact.
You could attach a copy of the PAN card/letter received by you.
In case the officer does not accept the return, you could approach the Public Relations Officer at the income tax office to resolve your problem.
I filed my returns in July 2005. I am expecting a refund of Rs 35,000. However, I am yet to see it. How long does it normally take for the return to come in. Am I required to fill up any additional paperwork for it?
- Sumit Manjit Chhabra
I work for a software company. I filed my returns in September 2005. I paid more tax than required. When will I get the refund from the income tax department?
How can I check the status of the refund?
What is the deadline for getting this refund?
Will it be credited to my account or they send me a check?
- Dev
The assessment for the last financial year would be under progress and you could expect the refund by around March/April 2006.
ECS credit of refund would probably commence from April 2006. This would require you to mention the MICR code along with the name and number of your bank account where you desire to receive the refund.
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