Income Tax Return 2019: Didn’t get Form 16? Here is how you may still file ITR

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Updated: October 2, 2019 9:32:29 AM

If the company has not paid TDS and filed the quarterly TDS returns, the income tax department can issue you a notice in this regard due to mismatch in TDS.

Income tax return, income tax return 2019, ITR filing, Form 16, TDS, Form 26AS, Section 80C, Income tax departmentIncome Tax Return: You will need to disclose this property in Schedule FA in the ITR form applicable to you if your total income exceeds Rs 50 lakh.

 If a company closes down and the employees do not receive Form 16, how should one file income tax returns?
– Samit

You can file your Income tax return as per salary slips available with you. You will need to calculate the available exemptions like HRA, LTC, etc; deductions under Chapter VI-A like Sections 80C, 80D, etc., based on the documents available with you and the amount of TDS that has been deducted by your employer. If the company has not paid TDS and filed the quarterly TDS returns, the income tax department can issue you a notice in this regard due to mismatch in TDS as reflected in your Form 26AS and the amount claimed by you. But, there are several rulings in this regard where courts have ruled that TDS credit is allowed in such cases.

I bought a land in my name worth more than Rs 10 lakh. The money was partly from me and partly from my father who runs a business. Do I have to mention this property purchase in my return?

—S Gopal Sambaraju

You will need to disclose this property in Schedule FA in the ITR form applicable to you if your total income exceeds Rs 50 lakh. According to Section 56(2), gifts received from your father shall not be taxable in your hands and there is no column in the ITR forms to disclose such amount.

My income is below the income tax threshold. TDS was deducted by bank on fixed deposits. Am I eligible to claim TDS refund for the previous years by filing ITR for such previous years?
—Bajinder Singh

Ordinarily, you cannot claim tax refund of TDS amount deducted during the period proceeding the previous year as the time limit for filing Income Tax Returns has already passed. However, you can still pursue with the jurisdictional income tax authority (Principal Commissioner of Income Tax) and if the authority is satisfied, it may grant the refund after due verification and ensuring certain safeguards. However, no such application is entertained beyond six years from the end of assessment year for which such application is to be made.

 Where can I get the Cost Inflation Index (CII) for year 2001-2002?
—MFZ Adeni

Check Notification No. 44/2017 dated June 5, 2017 issued in this regard by the Ministry of Finance. The CII notified there for FY 2001-2002 is 100.

(The writer is partner, Ashok Maheshwary & Associates LLP.)

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