You do not have to pay fine for delay in filing I-T returns for AY 2017-18

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August 07, 2017 4:00 AM

Income tax returns can be filed online with or without digital signature and thus, you could have filed the returns sitting in the USA provided you had all the necessary details.

In fact, Section 234F provides for levy of such fine for returns furnished for assessment year (AY) 2018-19 and not for returns furnished for AY 2017-18.

I am a retired employee and a senior citizen. Now I am in the USA and will be back in India by the second week of August. I could not file my returns before the due date. Do I have to pay any fine for the delay in submission of income tax return? 

– Nikhil Pillai

Income tax returns can be filed online with or without digital signature and thus, you could have filed the returns sitting in the USA provided you had all the necessary details. You can view the details of tax deducted in Form 26AS by logging into www.incometaxindiaefiling.gov.in. Since you could not file returns of income before the due date, there is no mandatory fine required to be paid by you. In fact, Section 234F provides for levy of such fine for returns furnished for assessment year (AY) 2018-19 and not for returns furnished for AY 2017-18. Nevertheless, there is a provision for levy of penalty by the tax authorities for failure to furnish return of income under Section 271F up to Rs 5,000, which may be levied if return is filed after March 31, 2018.

I am working in a private company and received Rs 10,00,000 as salary. My employer deducted Rs 1,50,000 as TDS but has not credited it to the I-T department. He has not provided Form 16 nor any pay slips. The salary is deposited in my bank account. Can I fill ITR 1 form for this assessment year?

—Sumit Shekhar

Considering the facts of your case, as there is no response from your employer, you may explore writing a letter to the Assessing Officer (TDS) who is having jurisdiction of TDS matter of your employer requesting therein to enforce the collection of tax and issuance of TDS certificate from your employer. You should enclose necessary documentary evidence such as your monthly pay slips and bank statement which shows that tax has actually been deducted from your salary. Further, once the tax has been deducted from your salary, you will not be asked again to pay tax on the same income as per Section 205 of the I-T Act. In this way, it has been ensured that there is no double taxation of the same income. However, till your employer deposits the tax into the government treasury and issues a TDS certificate, you will not be able to the claim the tax credit as it won’t be reflected in Form 26AS.

The writer is the founder of RSM Astute Consulting Group. Send your queries to fepersonalfinance@expressindia.com

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