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7 years ago

Thanks for your nice articles . However, after return filing I noticed:

1. XXX bank account number is incorrect. Seems it is picked up automatically from Form 16

Question : Now what will happen to my refund. How to update it.

2. I missed to add details of YYY Bank account. TDS of Rs A was deducted in respect of this account.

Question : My problem is return was for 2015-2016 FY and thus is belated return.

Revised return is not possible.How to add details of this missing account.

I am yet to acknowledgement of ITR.

Nitin Bhatia
Nitin Bhatia
7 years ago
Reply to  GAURAV

1. Normally, a cheque is issued by SBI for refund. If online transfer option is exercised & it fail then the cheque will be issued.
2. If the ITR is not assessed then you can revise the return else you can declare YYY bank account in FY 2016-17 Income Tax Return.

Clive Sinclair
Clive Sinclair
7 years ago

I was working as Salaried employee with a IT company from 1Apr’16 to 30 Jun’16. Then I started working with an Internet Broadband company wef 1Jan’17 till date. My Consulting contract is till 30 Jun’18.

I have Rxd Form 16 for period 1Apr’16 to 30 Jun’16. As my Consulting fee is less than Rs 10L in FY 16-17, I haven’t regd for Service Tax. So I get paid my Consulting fee less 10% TDS.

For FY17-18, I have now regd for Service Tax and am charging Service tax on my Consulting invoice to the a/m company.

Query :

1. Can I claim my consulting income u/s Sec 44AA(I) as it is Tecgnical consultancy with an Internet company. ALso I have worked with Technology companies for over 30 Yrs. This was my Taxable consulting income will be 50% of Total receipts.

2. Which ITR I should use for AY 17-18 so I can show my Salary income and Consulting Income? I feel it should be ITR4A.

3. Anyother comment or suggestion you may have for me to reduce tax in above scenario, please sugegst.

Pl advise. Thanks

Nitin Bhatia
Nitin Bhatia
7 years ago
Reply to  Clive Sinclair

1. I think you would like to take advantage of section 44ADA introduced from last FY wherein profit is assumed to be 50% with turnover of less than 50 Lakh. In this case the answer is YES. You can take benefit

2. ITR 4S is discontinued this year. You can check ITR 4 but you cannot include salary income in ITR 4

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