• Tax calculation

I have income through tuition apart from Salary income . I paid the entire tax for Financial year 2019-2020(Assessment year 2020-2021) .My ITR return is submitted . ITR return submitted(verified through Aadhar OTP) in Sep,2020. But Income tax has not processed yet . Why there is a delay in processing this year ? I am sharing my income details : I fear I will get notice from income tax .

Gross	Salary-6,56,370 
Withdraw from PF-23000
Person/Firm	engaged	in	Specified Professional	Services	(Section	44	ADA)-2,58,400 
Interest	Income	from	Fixed	Deposits- 43,156
Interest	Income	from	Savings	Bank-10000
Total	Health	Insurance,	Expenditure-1,669 
Deduction	under	Tax	Saving	Investment- 1,50,000 

I paid self assessment tax -32500

Can you file my tax for Financial year 2020-2021( My email address [deleted])
My Mobile-[deleted]
Asked 2 months ago in Income Tax

Yes I can file the same. 

The same needs to be verified after having a look in the site whether e verification status is done or not. 

Vidya Jain
CA, Kolkata
927 Answers
35 Consultations

4.8 on 5.0

- Time limit for processing of return is within one year from the end of the year in which ITR was filed. Time limit is 31.03.2022. Don't worry it will get processed soon. Filing of ITR of F.Y. 2020-21 is possible after 31.03.2021 only. You can claim tuition fees u/s 44AD.

Vivek Kumar Arora
CA, Delhi
3936 Answers
294 Consultations

5.0 on 5.0

You can wait for the ITR to get processed as this is the exceptional year due to COVID, no need to worry about that.

I have gone through the details provided by you and below are my comments on the same:

The gross tax liability as per the details mentioned is INR 81,485. Since Self Assessment Tax paid by you is 32,500, i assume that TDS deduction would be 48,985 from salary income. Also i assume the self assessment tax is inclusive of interest u/s 234 B & C.

 

 

Satish Dholwani
CA, Jodhpur
9 Answers

5.0 on 5.0

Dear Sir,

 

Hope you are doing well !!

 

We may assist you in Tax planning, ITR filing and entire procedure.

 

It is advisable to take a phone consultation for detailed discussion.

Payal Chhajed
CA, Mumbai
5010 Answers
120 Consultations

5.0 on 5.0

Hello, 

 

The time limit for processing of the return has not expired and the return would get processed well within such time limit.

For the preparation and filing of the income tax return for F.Y. 2020-21 A.Y. 2021-22, you can contact us directly or take a phone consultation.

I hope this answer satisfies your requirements. 

 

Regards,

CA Hunny Badlani

Hunny Badlani
CA, Madhya Pradesh
2540 Answers
8 Consultations

5.0 on 5.0

Do not worry. ITR will be processed. File your ITR for FY 20-21 next year. The ITR Forms for next year will not be available now.

Ruchi Goel Anchal
CA, Gurgaon
418 Answers
4 Consultations

5.0 on 5.0

You can book a phone consultation directly to file return of book it here: https://www.taxontips.com/income-tax-return/

 

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement. You can even book phone consultation for further personal assistance.

Thank you.

Naman Maloo
CA, Jaipur
3751 Answers
43 Consultations

5.0 on 5.0

Hi,

 

There is generally a delay thos year in processing of returns (probably due to COVID). Further, they have time till March 2020 to process your return.

 

You need not worry merely because your return has not been processed.

Lakshita Bhandari
CA, Mumbai
5367 Answers
440 Consultations

5.0 on 5.0

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