Income Tax

[Raja Bose]

^^Hmm....didn't know that Mullah enqyoob is a crore kamandu in boorkha

[enqyoob]

AoA! What is the Duniya coming 2? Do u know any crore kamandus who would spend weeks hunting and poring over Sections 10(38), 48, 80g, 54 a, b,c,d,de,e,f, to see if they can save a few paise? Have a heart! I am too poor to even interest any accountantullahs, even though the Maximum Amount Chargeable By an Eye Tee Preparer is limited to Rs. 250 per the Central Guvrmand!

I tried asking some of my 6th cousins, but they wrinkled their noses and said:

Hu knows? We just get a fellow in the office to do all our tax forms, take them over and bring us stamped receipts, and pay him Rs. 100

[enqyoob]

More joy: The DOOs have taken over banking in desh, and eliminated all remaining traces of common sense.

The ones who DID report TDS may be far worse than the ones that didn't.

Check your "A26S" really carefully. Looks like they reported the TDS, then reported it again, then added both of those and reported that again a few times. Makes poor Mullah enqyoob look like Shylockuddin bin Baseballbatti, if I made the bank pay me 6000% interest like they reported.

Catchall excuse:

Karvi Computer has promised to look into that

Oh for the days when people had to use pencil and paper and the space between their ears to store the multiplication tables!

[Raja Bose]

Did they just report wrong amounts or actually deduct those amounts from your account??? In that case you might end up earning interest in the imaginary plane.

So it seems Mullah enqyoob, at least on paper you are dus-percenti crossbred with crore kamandu al-ataturk.

Shukar Allah ka, all my TDS certies were correct.

[enqyoob]

It's all djinn arithmetic to me, with many 400% Arabic Leading Zerrows and multiple statements that give the exact same header and descriptions, but different numbers. Interest is a haraam concept anyway, but surely less so than taxes.

To make the story shorter than an Arabian Night, it took the Manger-e-Bank several hours to figure out what their own istatement was trying to convey, so what hope is there for a poor mujahid used to counting the LED lights on his goats?

Oh! I don't know why that amount did not show up on the TeeDeeEss ishtatement. If they come back and ask, please direct them to your Bartered Accountant. (seeing expression on my face).. Surely you are getting your taxes done by your Bartered Accountant?

That would be me, too. Yeah, sure! and I have a chaprassi to hold an umbrella over my head and a magic carpet under my pointy ballet shoes as I get into the back seat of the Mercedes in my white silk kurta, too..

[vina]

It's all djinn arithmetic to me

All this Form 26 AS business usually works pretty well and accurately AFAIK . It seems that your particular bank branch seem to have made a hash of things.

There is no "manual" entry of any PAN number or anything. Why should there be any ?. The software will automatically do the generating the data and sending it to the Income Tax computers for all term deposits bearing interest (they dont do it for savings accounts or checking account as it is called in Massa, coz savings accounts usually pay negligible interest). If the records are fine in your banks computers, then I cant imagine why they should make a mess of your TDS!

[enqyoob]

AoA vinaji!

I need help. Since I used the horse-whip liberally on the mangers-e-branches, they all sent me gifts in the form of Interest Reported to ISI, and Tee Dee Esses, and confessed that part of what they shamelessly reported on me to the ISI was rightfully free of baksheesh. By the grace of ATMand after a long walk along the razor-sharp ridges of the Yindoo Kush, I am at the very last inch of Open Sesame! and have convincingly argued using IMM (innovative madarssa math) that the guvrmand should give me baksheesh instead of demanding Jeziya from me - or at least eat only 99% of the Tee Dee Ess and give me the other paisa.

BUT.. as they say,

Many an IeD Mubarak between the cave and the Oben Sesame!

What the heck is this "Generate XML" and why does it tell me "VB Error 424 No Object specified" when I click on that green button? Did the cellphones in Bilayatistan say "error 424" when the Faithful pressed the button on 7/11, hain? Did Mohammed Ghauri's ghoda say "Error 424" when he was asked to ride down the Kyber toward Yindoostan, hain?

More to the point, does this mean I have to start over? Any suggestions? You seem to have used this Magic Carpet Excel tool downloaded from the Eye Tee dept? I can do pee dee eff, but I never heard of "generate XML".

[vina]

What the heck is this "Generate XML" and why does it tell me "VB Error 424 No Object specified" when I click on that green button? Did the cellphones in Bilayatistan say "error 424" when the Faithful pressed the button on 7/11, hain? Did Mohammed Ghauri's ghoda say "Error 424" when he was asked to ride down the Kyber toward Yindoostan, hain?

More to the point, does this mean I have to start over? Any suggestions? You seem to have used this Magic Carpet Excel tool downloaded from the Eye Tee dept? I can do pee dee eff, but I never heard of "generate XML".

All it is saying in halaal pingrezi is to generate xml only after you have filled all the data in all the relevant blanks and in all the tabs (press verify at the top at each page after you enter, make sure your macros are operative in excel and use the next/previous button on top of page to navigate) and then when in the final tab everything is "verified", you go back to the first tab and generate xml, which you upload to the IT dept website and are done with!.

[enqyoob]

All I can say is that I give my highest recommendashun Nishaan-e-Bakr with the 3-Bandar Cluster to the DOO who did the VB/xml coding on ITR-2, as Chief Code Sultan of the Pakistan Army and ISI, and his/her supervisor as GOC in C (Goatherd-of-Code-in-Chief) of DOOstan, for the sheer quality of coding and supervision. One small step up for a Code Sultan, one giant stride for World Peace.

[enqyoob]

AoA! I have taken the Fatwa of Mullah vina, and correctly interpreted it as

Retype everything for the 3rd time into the newly-downloaded ITR-2, u e-diot!

THEN and ONLY THEN, did the &&^%&* "Excel Yoo-till-itty" seem to work, without going into infinite loops into never-never-land saying

To Save the XML which, you have to click the Save The XML button on this sheet

forcing a CTRL_ALT-DEL and much utterance of haraam words.

Uploaded the XML file!

May your goats not stand upwind of you.

This whole e-filing/e-TDS business reminds me of Muhammed Bin Tughlak. Very modern, I mean.

[tarun]

This whole e-filing/e-TDS business reminds me of Muhammed Bin Tughlak. Very modern, I mean.

Back in the days when they put out an RFP about which format to use, some of us wrote gravely worded comments about the perils of proprietary formats. Little did we know that the eyetee dept's XML files would be free form XML that only their proprietary utilities written for sookshm naram daftari would be able to divine and generate, they didn't bother to ever create a DTD or XML Schema for the same. For many years now many have therefore stopped doling out well meaning advice to the bureaucracy, they'll find a way to do the exact opposite anyway. Ofcourse they'll find the vendor driven interests to do their homework while sneaking in requirements that only their employers can meet. duh!

[Abhijeet]

I've seen this fragility in even important online systems in India so many times now it's really not funny. Bank websites, ecommerce payment gateways, and apparently even the IT department site -- none of them seem to have any notion of graceful error handling, providing useful error messages, or robustness in the face of unexpected user input. These are all basic things that any half-decent development or QA process should never let ship, let alone for websites dealing with financial information.

I guess all the half-decent (and above) software developers are busy working on outsourcing projects for foreign companies, leaving critical financial systems for the rest.

[RamaY]

Late YS Rajashekar Reddy's son, Y S Jagan paid an advance-tax of Rs 84 crores for the first half of 2010-11. He paid Rs 6.7 crores income tax in 2009-10 and Rs 2.92 crores in 2008-09.

The estimated annual income based on the advance tax would be around Rs 520 crores. What would be his net wealth if his annual income is this.

His primary income source is from mining. (This is how YSR built a parallel income source outside the govt-budgetary projects, which is the primary source of income for most of other politicians)

http://thatstelugu.oneindia.in/news/201 ... 21010.html

[wig]

After PAN, now din

Taxpayers will now be issued a ‘new number’ for filing returns and making any communication with the Income Tax department.

The unique document identification number (DIN), on the lines of numbers like PAN and TAN, will be quoted on ‘every’ income tax-related communication, including returns to be filed next year for this fiscal.

According to the new guidelines brought out by the Central Board of Direct Taxes (CBDT), the DIN will be mandatory ‘in respect of every notice, order, letter or any correspondence; with the department, by the taxpayers.

“The DIN will be generated by the I-T department and will be useful, essentially, for error-free filing of tax returns, claiming refunds and other communication with the department by the assesses,” a senior finance ministry official said.

The ‘Aykar Sampark Kendras’ will hand out the DIN from this month, the official said. Assesses will not be put to any trouble, as the numbers will be generated and allotted by the department itself.

I-T officials will also be allotted the numbers in order to streamline the process, the official said, adding, the number has to be produced thereon for every activity with the department.

Taxpayers and tax collectors are currently required to quote Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) among others when returns are filed with the department.

According to section 282B of the Income Tax Act that deals with DIN, if the document sent to the tax authority does not bear this unique computer-generated number then ‘such document, letter or any correspondence shall be treated as invalid and shall be deemed never to have been received’. DIN is aimed at bringing more transparency in tax administration as the whole exercise involves a number of documents and proformas. Apart from regular filing of taxes, a taxpayer deals with the department for various other financial services, which DIN will help to ease, the official said.

http://www.tribuneindia.com/2010/20101129/main5.htm

[Bharath.Subramanyam]

Gurus , can any one confirm the below email going around ? Is it true that 80(G) exemption is not available to 'Hindu' institutions alone? Do Christian & Islamic Institutions get 80(G) exemption ?

------------------------------------------------------------------------
"Hinduism not a Religion; Don't ask for benefits accorded to Christianity or
Islam - Income Tax Dept, Nagpur

ollowing is the excuse by INCOME TAX APPELLATE TRIBUNAL, NAGPUR
to not include Hindu Religious institutions from exempting from seeking the
benefit of Charity Institutions under SECTION 80(G). According to this order
Hinduism is only a ‘Technical term ‘ and because of that Government cannot
extend the benefits which they accord to Christianity and Islam as a
Religion! This Anti Hindu order has been issued on 11.10.2012 by Income Tax
appellate Tribunal in Nagpur while considering the application of Shiv
Mandir Devsttan Panch Committee Sanstan, Nagpur

The word “Hindu” has not been defined in any of the texts nor in judgment
made law. The word was given by British administrators to inhabitants of
India, who were not Christians, Muslims, Parsis or Jews. The alleged Hindu
religion consists of four castes Brahmins, kshatriyas, vaishyas and sudras
belonging ultimately to two schools of law, mitaksharas and dayabhaga.
There is, however, no religion by the name ~Hindu’. It only shows that so
calledHindu religion has been called for convenience.” CIT must be aware of
that the Hindu consists of a number of communities having the different
gods who are being worshipped in a different manner, different rituals,
different ethical codes. Even the worship of god is not essential for a
person who has adopted Hinduism way of life. Thus, Hinduism holds within
its fold men of divergent views and traditions who have very little in
common except a vague faith in what may be called the fundamentals of
the Hinduism. The word ‘community’ means a society of people living in
the same place, under the same laws and regulations and who have
common rights and privileges. This may apply to Christianity or moslem
but not to Hinduism. Therefore, it cannot be said that Hindu is a
separate community or a separate religion. Technically Hindu is neither
a religion nor a community. Therefore, expenses incurred for worshiping of
Lord Shiva, , Hanuman, Goddess Durga and for maintenance of temple cannot
be regarded to be for religious purpose."
-----------------------------------------------------------------------------------

[wig]

bharath ji
with reference to the above order please appreciate that the Comm Income Tax appears to have refused to grant registration but the trust went in appeal to the Income Tax Appellate tribunal which ordered that the trust be registered under the relevant provisions of the income tax act. some parts are interesting!
the head notes are reproduced hereunder

Shiv Mandir Devsttan Panch Committee Sanstan Versus Commissioner of Income-tax-1, Nagpur
No. - 23 (NAGPUR) OF 2009

Dated - 11 October 2012

Exemption u/s 80G – Religious purpose versus Charitable purpose – CIT he took the view that since the expenditure on religious object exceeds 5% of the total income of the assessee trust, therefore, he did not approve the assessee u/s 80G(5)(vi). – held that:- CIT must be aware of that the Hindu consists of a number of communities having the different gods who are being worshipped in a different manner, different rituals, different ethical codes. Even the worship of god is not essential for a person who has adopted Hinduism way of life. Thus, Hinduism holds within its fold men of divergent views and traditions who have very little in common except a vague faith in what may be called the fundamentals of the Hinduism.

The word 'community' means a society of people living in the same place, under the same laws and regulations and who have common rights and privileges. This may apply to Christianity or moslem but not to Hinduism. Therefore, it cannot be said that Hindu is a separate community or a separate religion. Technically Hindu is neither a religion nor a community.

Expenses incurred for worshipping of Lord Shiva, Hanuman, Goddess Durga and for maintenance of temple cannot be regarded to be for religious purpose. - CIT directed to grant approval to the assessee-trust u/s. 80G(5)(vi) of the Act. – in favor of assesse.



Judgment / Order


P.K. BANSAL, ACCOUNTANT MEMBER, AND D.T. GARASIA, JUDICIAL MEMBER

Appellant Represented By: Shri P.R. Gandhi, Advocate

Respondent Represented By: Shri Suresh R. Kirtane, JCIT

if you want a complete copy of the judgement please provide your e mail and i can send a copy of the entire judgement over

[Aditya_V]

Urgent question motivating this thread, but all other discussion on the subject welcome too.

1. July 31 is deadline for filing personal Income tax, as I understand.
2. Is e-filing mandatory e-filed last year?
3. IT division says all TDS credit must be from what they can see on Form 26AS, which is downloaded from the NSDL site (on the rare occasions when it works) for one's PAN. IOW, if it is not on the form 26AS report, you can't get credit for it.

4. The kind bank aphsars have made an ingenious business out of this - they don't file the tax, or they don't do it under the correct PAN. Result: One cannot see it on Form 26AS, and so loses the credit. (Happened to me last year). When asked pointedly, I see all kinds of excuses given, the SBI claims everything has been reported but "there is something wrong with the NSDL site" (eminently possible, but I have inside intel that says SBI doesn't post TDS to the govt. unless customer absolutely twists their arms). Other managers far more 404 about the whole thing.

5. So my "pooch": How to get away with reporting TDS by Certificate number etc, which cannot be done while e-filing?

What is the alternative to e-filing?

Deadline was extended to Aug 31 2012, you can file a belated return within 2 years, however, you cannot file a loss return belated

E-filing Mandatory for Businesses and Induviduals with taxable income of more INR 10 lacs

Login to Incometaxindiaefiling.gov.in and regiter your PAN account, you can see your tax credit details in form 26AS on that website

IF some has deducted TDS for you they need to give you a TDS certificate, Form 16 for Salary, Form 16A in other cases.

When doing e-filing you need to enter the "TAN" number of the person deducting the tax which will be there in the TDS certificate

[manish.rastogi]

Saarjis,
My father recently sold his house in Dehradun, and he wanted to know about avoiding the capital gains on it, he was wondering if he can put the whole money in a third flat and avoid it because at some places he found people saying that capital gains can be only avoided till second property. Please advise!
Also

• • He spent 5 lac on construction in 1988 for the house, what initial cost would be taken into consideration for calculating indexation benefit??
    And he does not have any bills of proving that he spent Rs. 5 lac, how will he convince the authorities??

Please advise and some clauses from the law or links would be really appreciated!

TIA!!

[VKumar]

Very simple - ask the CIT whether after death, he wants to be cremated as a hindu.

all those commies and atheists who say that there is no hindu-ism should not be cremated as per hindu rites.

then lets see what happens.