I am a NRI and I have not filled by tax return since 2013. I have interest income from NRO Savings and FD account for last couple of years and TDS deducted. I would like to claim refund on TDS amount for myself and my wife. Below are my interest income details. For FY 2017 – 2018 - Interest Income - Rs. 37389; TDS – Rs. 4574 For FY 2018 – 2019 - Interest Income - Rs. 14656; TDS – Rs. 4159 My Wife Interest income details: For FY 2017 – 2018 - Interest Income - Rs. 22859; TDS – Rs. 6738 For FY 2018 – 2019 - Interest Income - Rs. 64803; TDS – Rs. 20513 1. Can I file return for FY 2017 - 18 and FY 2018 - 19 and claim refund on all TDS deducted? 2. Is it advisable to file FY 2017 -18 now as I expect to get refund only Rs 11000 (for me and my wife)? Will there be any penalty for late filing? 3. Is it possible to combine FY 2017 - 18 and FY 2018 - 19 interest income together and file it in FY 2018-19 ITR? 4. Can I file ITR online ww.incometaxindiaefiling.gov.in for prior years OR paper work required? Can you provide any guidance on online filing? I have already downloaded excel file and filled all the information for TDS refund claim 5. My spouse also have interest from Savings and FD for last 2 FY years, shall I file return together? 6. I have PAN number, but I don't have Aadhaar. Will there be any issues?
Hi
1. ITR can only be filed for FY 18-19 now. The last date is 31.3.20
2. No.
3. No.
4. It is an online filing. We may assist you with the same.
5. There would be 2 separate ITR forms to be filed. Incomes could be shown in your ITR if such income has been earned from funds gifted by you. In that case clubbing provisions shall apply.
6. No.
Dear Sir,
Hope you are doing well !!
Now, you can't file return for previous years. The due date has been lapsed.
You can file the return only after receiving approval from commissioner. You need to file condonation of delay for the same,
Also, If you receive any notice from the income tax department then you can file the return.
We may help you in filing condonation of delay request.
It is advisable to take a phone consultation for detailed discussion.
Thanks & Regards,
Payal Chhajed
Thank you for the answer. I believe I should be filling using ITR-2 form, please confirm. I have already downloaded ITR-2 excel file and filled all the information for TDS refund claim. I have filled PART A general information, Part B TI-TII, OS, TDS, and Verification sheet. Could you please confirm if there is any other sheet to be filled for TDS claim? If I need further assistance or need review on my filled ITR-2 form, should I be able to send/email my spreadsheet to you for review? Will there be any additional cost?
That would be ok. Please ensure the refund amount in s getting reflected correctly when you calculate tax.
It could be reviewed on additional cost.
Please note that since it is a late return, late fees under section 234F shall also be levied which should be mentioned in the ITR.
Yes, ITR 2 is correct.
-You just need to check the amount of TDS refund calculated correctly.
-Yes, there will be additional cost for ITR review.
- You need to pay the applicable fees for late filing.
-The quantum of fees that can be levied under section 234F of income tax act 1961 for FY 2018-19(AY 2019-20) filing is as under :
(i) If the return is furnished after 31st August but on or before the 31st day of December of the assessment year - Rs. 5000 (i.e 31st August, 2019 and 31st Dec, 2019 for FY 2018-19)
(ii) If the return is furnished after 31st December of the assessment year (1 Jan - 31st March) - Rs. 10,000
-Late fees under section 234F can be paid by the way of "Self Assessment"---> "Others", this penalty can be paid from FY 17-18 and onwards.
Challan No. 280
Type of payment - Self assessment (300)
Fill 234 F amount in column "Others".
Hello,
Answering your query pointwise as asked,
1. You can file the return for F.Y. 2018-19 now. The last date is 31st March 2020.
2. For F.Y. 2017-18, you can file your return only in case you have received a notice from the department to file your return or you apply for condonation request to file the return for F.Y. 2017-18 with the jurisdictional commissioner with a valid reason for not filing of return on time.
3. No, it won't be possible.
4. The filing of ITR is an online process. You can contact us directly for the filing of ITR.
5. Return for different financial years cannot be filed together combined.
6. No.
I hope that this answer satisfies your requirements.
Regards,
CA Hunny Badlani
Yes, that would be fine. Verify your TDS details with your Form 26AS, there should be no mismatch between Form 26AS and your ITR.
For further understanding or help on the filing ITR, you can contact us directly at or take a phone consultation.
Regards,
CA Hunny Badlani
You can file ITR for F.Y. 2018-19 till 31st march.
There shall be no late fee as your income is below 2.5 lakh.
No.
No you can file ITR online.
Both need to file their separate return of income.
For NRI it wont be an issue.
However have you prevalidated your bank account to get refund?
If you need any assistance in filing your return of income we may assist you.
Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.
Thank you.
Since you are NRI you need to file ITR 2.
The schedules you have filled are enough.
If you want me to check your return you need to take phone consultation.
Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.
Thank you.