Queries related to Income Tax eFiling

Income Tax ITR Filing
21

Hey @Ankan_Mitra

The due date to file a Belated return for FY 2019-20 is March 31, 2021. For any further help, you can reach out to help@quicko.com. Happy to help! :slight_smile:

22

Hey!

Can multiple legal heirs file the ITR of a deceased person?

23

Hey @HarishMehta

If there is only one legal heir of the deceased then he/she will act as the legal representative, but if there is more than one legal heir any one of them with the consent of all the others, can act as legal representative for the purpose of income tax. As per section 157 of the Income Tax Act, 1961, a legal representative will be entitled to collect proportionate tax from other legal heirs as a part of their share.

If multiple legal heirs want to file ITR then as per provisions of the Income Tax Act return is required to be filed in the capacity of AOP (Association Of Persons) or BOI (Body of Individuals).

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24

I have filed ITR 1 for FY 2019-20 which has been accessed but I am eligible to file ITR 2. Can I cancel my previous ITR 1 and file ITR 2 ?

25

Hi @Ravi_Prakash,

You can file a revised return for FY 2019-20(AY 2020-21) until 31st March 2021, and add your missed incomes.

You can file the revised ITR on Quicko

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26

I received some money from my friend (about 4 lakhs) and paid my college fees with it and the rest towards an educational loan account. I’m not salaried. Since it comes between 2.5-5 lakhs slab I think I should file ITR. If so how should I include this in ITR? Should I avail an online service or could someone guide me through that?

27

Hi @peterq

If the amount is received as a gift the same needs to be shown under the head Income From Other Sources. Since gifts received from friends are taxable if the monetary value of all gifts received exceeds INR 50,000.

We would be happy to help you with the ITR filing.
You can share your contact number and email id on Quicko | Contact Us so someone from our team can get in touch with you for details, process, pricing, and discounts?:slightly_smiling_face:

28

Is there any limit to pay tax via Netbanking ?

banks have limit for NEFT/RTGS for online transaction. does this limit apply to income tax payment ?

HDFC have 10 L limit per day and require digital certificate to make payment above 10 L and up to 50 L via NEFT/RTGS.

does this limit apply to income tax payment, too ?

29

Hi @ATDES

Income Tax Department has not prescribed any such limit. However, banks have defined limits depending upon the type of account you hold for payment of income tax via Net banking.

Hope this helps :slightly_smiling_face:

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30

I confirm this from HDFC bank… Income tax payment does not come under TPT.

So there is no limit on income tax payment via net banking.

31

Hi,
I have salary income and Business income .So I think i have to file my return in ITR 3.But last FY i got some salary arrears .So which form should i file for getting relief.Earlier when i have only salary income i used to file Form 10E to get relief on tax on salary arrears .But when i have salary and bussiness income which form should be filed? 10E or any other form?

32

@Kaushal_Soni @Divya_Singhvi @Laxmi_Navlani @Saad_C @AkashJhaveri can you help with this?

33

You had in your mail sent demo video on how to get prefilled data in json. I think that video was shot about 10 days ago. In that video ,E-fling portal was showing ITR forms 1 to 5 in the drop down .Now when I want to download the prefilled data , the drop down menu shows ITR 1,2,4 only and the remaining like ITR 3 etc are not appearing . Can u throw light on this pls

34

Hi @Xavier_Thilagaraj_Gm,

ITD portal has migrated to 2.0 version portal & seems like it’s is yet to be stable. They might have temporarily disabled downloading ITR 3 pre-filled JSON.
It should be enabled soon, include income details.

35

2 posts were merged into an existing topic: F&O Trader filing question

37

I have made Chapter VIA deductions, do I need to submit proofs while claiming the deductions?

38

Hi Sakshi,

You are not required to submit investment proofs like LIC certificate, Medical Insurance, ELSS investments, etc while filing your Income Tax Return.
However, you need to submit them to your employer as per your declarations in your Form 12BB. You may be asked to present them at the time of scrutiny.

Hope this helps :slight_smile:

Comment

39

I am pensioner and holding two houses self occupied, as on 7.4.2020.which ITR form to file. I can claim deductions under 80 c and 24(b) for 2nd house for which also I availed loan .I paid in full home loan for first house.

40

Hi Sneha,

Since your second house property does not have an outstanding loan or rent income, you can report the property on which loan is there and claim the deductions by filing ITR 1.

41

I am a salaried person and have been filing ITR 1, but from this year I started trading in stocks (delivery based) - which ITR form to file?