How To Get An Additional Refund From IT For A Few Unsubmitted Income Tax Challan?
It is very common to suffer with some common mistakes while filing for you IT returns some of which include the unclaimed deductions or an income that hasn’t been reported or has been reported incorrectly. If the paid tax within the due date, then you can always revise your income tax challan. This feature of the IT department is mainly initiated because the tax payers are not aware about the recent changes in the tax payment.
How can you revise your Income tax challans?
One of the ways to revise your Income tax challan is to first correct your errors when you notice them and then revise your return properly and then submit your revised return. It is so because, once an online return is verified, the Income Tax Department starts processing it. After you have revised your return, then submit it with a revised one under the Section 139(5).
How many times can you revise your Income tax challan?
You can revise your returns any number of times but the more increasing number of times you do, the more it will yield to your income being scrutinized especially if it is resulting in a large number of refunds. Also filling a wrong IT return can result in your imprisonment under the Section 277 along with penalty.
What if you have paid the income tax twice?
There are certain times when you a taxpayer might pay the self assessment tax twice for the same assessment year. This might happen due to the fault of the bank or due to any other discrepancy arose during the payment. You need not worry about a situation like this because if this happens then, while filling returns consider the assessment tax paid twice also and the excess portion will be refunded to you. In case, you are still having any confusion then do not forget to discuss with the experts.