[vinu_h]

I had a very good experience filing my ITR this year. The portal is not easy to use, but, I took my time filling in my ITR this time around. Within a week of submission, the refund was received as well.

A gap I noticed is that, the interest of the refund is calculated only up to the day the ITR is processed and not up to the day when it is credited to the tax payer's bank account. In my case, I lost 3 days of interest.

[HappyWheels]

Used ClearTax to file my returns as I had transactions on an Demat account and was not sure how to go about filing it.

Took the needed service plan yesterday evening and uploaded the needed documents.

Got the summary earlier today morning, which said that I can claim a refund.

Approved that at 8am, did e-verification at the same time, as they upload to the IT portal.

2 hours later, now at around 10am, I got a message of IT refund credited to my account.

The return status is still in e-verified status and yet to be processed.

Not sure what and how this happened, but if due process has been followed, and no future surprises, wow!

[Rodie09]

I noticed that my TDS deduction through salary for FY23-24 last quarter is not showing in the pre filled data on portal in ITR 2 under Schedule TP. The same is however visible in Form 26AS.

Is this normal or am I missing anything?

I could of course add another line item for the missing TDS piece and things were set correct.

I hope there is no particular reason why last qtr of FY 2023-24 TDS was missing.

Should I be checking anything?

[brownkaiser]

Originally Posted by Rodie09

I noticed that my TDS deduction through salary for FY23-24 last quarter is not showing in the pre filled data on portal in ITR 2 under Schedule TP. The same is however visible in Form 26AS.

Is this normal or am I missing anything?

Happened with me as well. Checked with few CA guys and they said it is a known issue. We have to give the correct numbers ourselves.

[bijims]

Always consider the data from Form 26AS, it has precedence over both the AIS and data pre-filled on the portal.

[praveen789]

I noticed a major issue in the online version of ITR 2. When you show the quarterwise breakup of the capital gains and exit the form (after saving it), the first field of the form (< 15th Jun) is populated with the total capital gains for the full year. The rest of the fields are populated right so it is effectively calculating the tax on a much higher amount. If you finish the form till the end without exiting, it stays correctly updated. Revisiting it seems to causing the issue. Since the taxes at the end are auto calculated, many might be believing in it blindly.

[rst89]

Originally Posted by praveen789

I noticed a major issue in the online version of ITR 2. When you show the quarterwise breakup of the capital gains and exit the form (after saving it), the first field of the form (< 15th Jun) is populated with the total capital gains for the full year. The rest of the fields are populated right so it is effectively calculating the tax on a much higher amount. If you finish the form till the end without exiting, it stays correctly updated. Revisiting it seems to causing the issue. Since the taxes at the end are auto calculated, many might be believing in it blindly.

This is a new major bug introduced this year, I feel the whole Income tax department code shall be in public Git repo as anyways it's the public that funds the government through taxes which indirectly funds this tax portal.

There was this bug for dividend break up per quarter that used to show up till last year in ITR2 during validation but seems they fixed it this year.

The only way to fix this is to be alert and only compute taxes when you have filled all schedules in one session correctly. The onus unfortunately falls on the filer of ITR2 in this case.

[praveen789]

Originally Posted by rst89

The only way to fix this is to be alert and only compute taxes when you have filled all schedules in one session correctly. The onus unfortunately falls on the filer of ITR2 in this case.

Very true but isn't this highly unethical on their part as well? Their calculation for delay in paying advance taxes are not that straight forward so any tax payer will assume they are calculating it right. Also, there is a check that the sum of the sections should add up to the total capital gains declared. I wonder how did they break such a basic check and go live.

Another issue is that sometimes the verification of returns fails due to some technical reason and they throw you back to the schedules page. People would probably just skim past it until they reach the page showing tax pending and not able to figure out what happened.

[Habanero City]

Originally Posted by Rodie09

What does this "accepted by tax payer mean". I am also a little puzzled seeing those when I actually have not accepted anything, unless it's being deemed accepted by any means.

Even I have wondered about this unilateral phrase and realised that this is a typical phrase used to emphasize the adversarial process of the system.

There were some frivolous tax demands which were officially withdrawn in the last budget.
However this is termed as "extinguished" in the portal.
Such pride in not using the simple word "withdrawn".

[rst89]

Originally Posted by praveen789

Very true but isn't this highly unethical on their part as well? Their calculation for delay in paying advance taxes are not that straight forward so any tax payer will assume they are calculating it right. Also, there is a check that the sum of the sections should add up to the total capital gains declared. I wonder how did they break such a basic check and go live.

Another issue is that sometimes the verification of returns fails due to some technical reason and they throw you back to the schedules page. People would probably just skim past it until they reach the page showing tax pending and not able to figure out what happened.

This is because of poor testing done by the company who built it and complete lack of oversight or supervison by the Income tax department.

Hence, they should make the repo or code public and let other devs test it and raise issues. It's been now three years since the new portal went live and we still have major issues.

[(Alok)]

Experts
Is this a new rule that a person without business income, can switch between new and old tax regime?

My filing is ITR2 for Salary, F.D. interest, LTCG & STCG. I am planning for a home loan in FY 2025-26.

Should I go for new regime for FY 2023-24 & 2024-25.

Please refer FAQ No 11 here (https://www.incometax.gov.in/iec/fop...%20I%20T%20Act.)

Thanks

[dgindia]

Should I go for new regime for FY 2023-24 & 2024-25.

I think the individual with salary income need to inform their employer for preferred old or new tax regime. Accordingly employer will calculate income tax and deduct TDS from salary.

Recommend to consult CA / tax practitioner for any tricky question.

[rx100]

Originally Posted by (Alok)

Experts
Is this a new rule that a person without business income, can switch between new and old tax regime?

My filing is ITR2 for Salary, F.D. interest, LTCG & STCG. I am planning for a home loan in FY 2025-26.

Should I go for new regime for FY 2023-24 & 2024-25.


Thanks

Each tax year, we can choose whichever regime we want. If your income is above 15 lakhs, the deduction break even point is 375000. If you can declare above that as part of 80C,80D, Home loan interest etc etc, go for old regime. Anything under 375000, new regime is better.

Edit: Above info is based on current tax rules, and based on future budget announcements it may change.

[Oxy]

When I login to the IT E-filing portal, I see the ITR-1 form is grayed out, with a message saying I have had some income through lottery winnings this year, please check AIS form for details.

On opening the AIS form, I see two entries of winnings of ₹25 and ₹5 respectively. I have never participated in any gambling.

How do I fix this? Whom do I reach out to?

[digitalnirvana]

How can an NRI get their form 26AS? I'm struggling with this and the registration option for NRI TRACES website shows 3 options none of which are applicable for me. Without the form I can't submit ITR. Any suggestions or advice please?