ITR query

[gourav]

I read in some article that this year onwards you should also check the AIS and TIS reports from IT department website else could get a notice if any mismatch.

Earlier just checking 26AS was enough I guess?

You are right, AIS and TIS should also be checked. I have not been keeping up with these developments, so I was still checking my 26AS only.

Unfortunate though that AIS and TIS are not available as Excel/CSV. I hope they add this next year.

 

[nRiTeCh]

Income Tax portal is good if you have to file ITR1. But remember, if you have income from shares/mutual funds, you'll have to file ITR2. Now I hear they have made improvements, but I'm yet to file this year, so can't say how good the portal is for ITR2.

Till last year, they did not even have online filling option for ITR2. And the offline application was a nightmare. I remember when I was filling my dad's return, on the last page it said there was a schedule I needed to fill. I looked and I looked but could not find the option to fill that schedule. I refilled from the beginning on a newer version of the app and same thing. Ultimately after some 10-11 hours of looking, I finally found it hidden in a corner of page which was already 2 levels in from the main flow. The year before that, the Excel template was not compatible with the latest version of Excel. I literally had to find a laptop with older Excel version to fill it.

I'm a chartered accountant and I have been filing returns for friends and family for 10 years, and even now everything except ITR1 makes me want to pull my hair out. So I wouldn't recommend it if you have to fill ITR2.

Same here. I too maintain my own account which helps during final submission.

You are getting refunds mainly because of under-reporting done by the portals based mostly on Form 16 and 26AS. So you refund is due to wrong filing, so depends how concerned you are about that.

I tally my refunds and keep my own tracks of investments etc. + I also have two people who are Tax experts and our figures match 95% wrt refunds etc.
What IT website does dont know why it simply rejects or has some xyz calculation methods which doesn't calculate any refund.

In fact these 3rd party portals are a breeze to file which carefully has automated step by step process in a simple Yes/No and full the values for the respective parameters. In the end you can tally it while generating excel or run through the entire process ensuring you haven't missed on anything. So I do not doubt their portal software.
It clearly mentions why you are getting a refund as well and also suggest how you can save more etc.

Its not about refunds but knowing why the discrepancy etc.

 

[t3chg33k]

Same here. I too maintain my own account which helps during final submission.


I tally my refunds and keep my own tracks of investments etc. + I also have two people who are Tax experts and our figures match 95% wrt refunds etc.
What IT website does dont know why it simply rejects or has some xyz calculation methods which doesn't calculate any refund.

In fact these 3rd party portals are a breeze to file which carefully has automated step by step process in a simple Yes/No and full the values for the respective parameters. In the end you can tally it while generating excel or run through the entire process ensuring you haven't missed on anything. So I do not doubt their portal software.
It clearly mentions why you are getting a refund as well and also suggest how you can save more etc.

Its not about refunds but knowing why the discrepancy etc.

Fair enough, but when these portals offer low prices or even free filings, they are doing it to sell the data which makes it even worse. That is the main reason to not use the portals because there is no data security.

 

[nRiTeCh]

Fair enough, but when these portals offer low prices or even free filings, they are doing it to sell the data which makes it even worse. That is the main reason to not use the portals because there is no data security.

Can you guarantee or do you have any written proof your data isnt sold by govt??

When everyone came online theeir data was already sold or exposed to the world so hardly anything is remaining expect for credit card and bank a/c nos. which I'm sure isnt hidden as well...

 

[t3chg33k]

Can you guarantee or do you have any written proof your data isnt sold by govt??

When everyone came online theeir data was already sold or exposed to the world so hardly anything is remaining expect for credit card and bank a/c nos. which I'm sure isnt hidden as well...

That argument is regressive, because your tax data has to end up with the government. Private companies getting all your financial details and selling it off to the highest bidder is a concern that should be given due weight.

My evidence is anecdotal from the time I used the portals early in my career and got related loan and credit card calls. This kind of ambivalence is why we have such poor data security laws in India.

 

[vishalrao]

Do you know if tax payment website is facing issues? IDBI Bank?

My bank person is saying their login is giving error on IDBI bank website ‍

 

[rahul0256]

I filed ITR last week monday through cleartax and it costed 199. Yesterday i have received refund from IT department. It was blazing fast this year.

 

[nRiTeCh]

Today received ITR refund in 5 digits

All I can say is the benefit of filing via 3rd party! I'm 10000% sure if I would have gone through the ITRs website I would had not been able to claim nor receive such benefits.

A simple answer to all 3rd party haters out there..

 

[Ramadhir Singh]

I filed ITR last week monday through cleartax and it costed 199.

199/- cleartax? are you sure you not missing one 9 in the end ?
they quoted me ~3k at least.

Yesterday i have received refund from IT department. It was blazing fast this year.

that's amazing !!
The speed also depends on the refund amount, the larger the sum longer wait.
i filled on 21st - wil keep posted when im getting.

All I can say is the benefit of filing via 3rd party! I'm 10000% sure if I would have gone through the ITRs website I would had not been able to claim nor receive such benefits.

sorry mate, i beg to differ.
im super super noob in this context when when cleartax asked 3K for filling, i spent 1-hour watching some youtube. and another 60-70 minute in actual tax site filling.

At the and i was jumping with joy, as im getting refund on 5-figures as well.
I wasn't expecting this sum as refund, and if had any iota of hint, that im getting any refund i would have easily given 3k to CT.

so, yes i hate govt site more than anyone else in this planet - but this version of site just works.. and easy for a noob like me to understand.

 

[calvin1719]

I agree, the govt site is pretty easy to deal with if you've got a fairly simple return. I wouldn't know about more complex cases. I filed on July 31, got intimation of a 5 figure refund on Aug 1 or 2. Just waiting for the actual refund now.

 

[lockhrt999]

I filed my first return when I was 17-18. It was ITR4 (currently called ITR3). It was a physical form printed across 50+ pages. Super intimidating. Didn't understood 99% of it. Tried to fill in some blanks. Never got my refund as nooby me must have made many mistakes. Didn't bother filing returns next few years as it looked futile effort. Called govt as thief for keeping my money.

So coming from that point of view, current income tax website is a piece of cheesecake.

 

[dissel]

In my previous post here in this thread which is Post No 13, there is an update regarding the 2nd ITR filled by me - below is the problem

------------------------------
2nd ITR - Despite the green tick on the pre-validated bank once filled Income Tax AI didn't find linkage of the bank's IFSC code to the Account holder pan card, So the Refund amount is not possible to transfer - solution: "need to raise a reissue refund claim" which says the Intimation Email from CPC Bangalore.

The problem is that there is no refund failure according to the Website so generating a refund raise out of question. No such problem in any previous year, always / whenever applicable refund received in this bank account without any problem.

On the other hand, this bank does have the merger though, Immediately visited the branch with a bunch of screenshots on my tablet upon explaining to the branch manager replied - all individual accounts are updated with the New Bank name and IFSC code along with PAN number - The final steps done by (if not done, then blame) RBI.
------------------------------

Below attaching two screenshots that show the Failed Bank A/C and RED Intimation letters (15/07) which ask to create a 'Refund Reissue Request'.

Spoiler

Today (08/08) when I log into the portal (I do it every day due to refund failure except Sunday/ Holiday) - I finally see the below 'Refund Awaited' Message in the main Dashboard Page.

Spoiler

My plan was to call the helpline number post 15th Aug, But looks like I don't need to. In the meantime, I also add another bank account and validated to receive the refund...All Green Tik. Anyhow immediately head over to Services > Refund Reissue > Create Refund Reissue Request. Before today this place was Empty. Creating requests is similar to Online ITR verification.

Spoiler

And finally, it looks like this,
Finally......Now waiting for the Refund.

Spoiler

 

[dexterz]

Today received ITR refund in 5 digits

All I can say is the benefit of filing via 3rd party! I'm 10000% sure if I would have gone through the ITRs website I would had not been able to claim nor receive such benefits.

A simple answer to all 3rd party haters out there..

I've always filed using the Govt portal and have received refunds when eligible. I've never had huge refunds under ITR1. Not sure if 5digit refund is benefit of 3rd party or faulty tax projection

 

[nRiTeCh]

I've always filed using the Govt portal and have received refunds when eligible. I've never had huge refunds under ITR1. Not sure if 5digit refund is benefit of 3rd party or faulty tax projection

Govt portal never calculated correct refunds for me hence never ever risked through it. In fact on of my ex. employer had a tieup with & preferred 3rd party portal.

Few live examples were my office colleagues who even though were supposed to receive 10k refund but got only some 5-6k. Whereas similar person having exact same salary and investments got 10k refund via 3rd party.
As said earlier, I did verified with my tax experts and I received the exact refund money.
I'm not in any favor for govt or 3rd party, whichever works best for each one will go that way. 3rd party for me always.

 

[lockhrt999]

Govt portal never calculated correct refunds for me hence never ever risked through it. In fact on of my ex. employer had a tieup with & preferred 3rd party portal.

Few live examples were my office colleagues who even though were supposed to receive 10k refund but got only some 5-6k. Whereas similar person having exact same salary and investments got 10k refund via 3rd party.
As said earlier, I did verified with my tax experts and I received the exact refund money.
I'm not in any favor for govt or 3rd party, whichever works best for each one will go that way. 3rd party for me always.

One thing is for sure, govt should use better terminologies. Current language like 'investment under clause 335d(iii) with depreciation u/s 55ba' doesn't make any sense. Without google, I might have never understood it meant.