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ITR filing last date extended from July 31, 2025, for FY 2024-25 to 15 September 2025

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desiviru said:
I am sorry but you are failing to understand basic of it. It doesn't matter when you get salary.

If someone has salary of Rs.50K/month then esitmated salary is 6L. It doesn't matter if it is yet to paid. By June 15 that person will calcuate estimated tax payment on 6L salary and pay 15% of tax liability. Other estimated income like FD interest is already available on ledger balance on FDs on April 1 itself. If you had income arisen in between, that can be paid later by Sep 15 or Dec 15 or Mar 15.

Most companies/employers don't deduct TDS till Dec or even Jan next year. Then they deduct from Feb/March salary all at once.

In 26AS date of deduction/payment of TDS is already there and system calculates it from there automatically whether there was a need to advance payment or not.

Here you have not to worry when TDS is deducting or how much is deposited. You just need to see if 15%/45%/75%/100% is paid or not if your tax liability till March 31st is more than what already deposited.
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So if this %age is for total tax liability, then bank interest is negligible in that cases, so it has to be tax deposited late by employer, or this prefilled column is showing wrong while filing
 
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desiviru said:
I am sorry but you are failing to understand basic of it. It doesn't matter when you get salary.

If someone has salary of Rs.50K/month then esitmated salary is 6L. It doesn't matter if it is yet to paid. By June 15 that person will calcuate estimated tax payment on 6L salary and pay 15% of tax liability. Other estimated income like FD interest is already available on ledger balance on FDs on April 1 itself. If you had income arisen in between, that can be paid later by Sep 15 or Dec 15 or Mar 15.

Most companies/employers don't deduct TDS till Dec or even Jan next year. Then they deduct from Feb/March salary all at once.

In 26AS date of deduction/payment of TDS is already there and system calculates it from there automatically whether there was a need to advance payment or not.

Here you have not to worry when TDS is deducting or how much is deposited. You just need to see if 15%/45%/75%/100% is paid or not if your tax liability till March 31st is more than what already deposited.
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can i share my 26as with you in DM, i am not able to get why this is happening
 
desiviru said:
I am against sharing personal data with acquitances or for that matter anywhere online.

Never ever share your any data that contains personal info. If it can't be avoided always hide information that matters.

I hope @RAMESH BABU N Sir has replied you to satisfaction. 🙂
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He had a dozen questions. I answered all of them. No personal data/details shared.

This is the precise reason why I am against anyone going to CAs or Tax Consultants for filing IT Returns. Good to be self-reliant. Always.
 
desiviru said:
I am against sharing personal data with acquitances or for that matter anywhere online.

Never ever share your any data that contains personal info. If it can't be avoided always hide information that matters.

I hope @RAMESH BABU N Sir has replied you to satisfaction. 🙂
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RAMESH BABU N said:
He had a dozen questions. I answered all of them. No personal data/details shared.

This is the precise reason why I am against anyone going to CAs or Tax Consultants for filing IT Returns. Good to be self-reliant. Always.
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You 2 mentors are rare to find, for everyone else CA, Tax Consultant online platform helps.
 
desiviru said:
Every bank provides you table where they show interest that will be credited to FDs from April 1 to March 31st. If FD is having short term then also you already know it.
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I don't think all banks provide this projected interest payments schedule automatically. Some do. For those that don't, I've always had to do my own calculations. Never explored the possibility that they might provide it on request.
.
 
desiviru said:
Not 3 rules but 3 years rule which I said, don't have much to do these days.

Through Circular 45 dt. 08.12.2003, RBI has declared that for FEMA, students studying abroad will be treated as NRI as soon as they go abroad for studies.

Mostly people look for NRI status when it comes to financial things mostly and 182 days not in India is good enough for your NRI status. Students having foreign VISA less than 9 months are not considered or can be gibven NRI status. Mostly they go for 1 yr+ courses and their VISA is 2/3/5 yrs etc.

Most of them are not having any income in India but many does so ITR 2 for them.

One of my close friend went to US in 2023 and he is having H1B VISA. He has rental+deposit intt. income only in India currently and I filed ITR 2 for him. In 2023 after his departure he waited 6 months and then opened NRE account with HDFC and over email they collected all docs and opened account for him. The branch manager was clever enough to open 3 accounts although consent was for 1 account only. He let him go and later closed that extra 2 accounts.
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Rules for FEMA and Rules for IT Act are slighly different.

In IT related issues, both rules will apply. That's why, even now, the ITR-2 will show fillable spaces, for NRIs, to show the number of days they were in India, under both the rules. Not just one.

Hope you understand the difference.

Moreover, here, we are discussing the filing of ITRs.
 
RAMESH BABU N said:
Rules for FEMA and Rules for IT Act are slighly different.

In IT related issues, both rules will apply. That's why, even now, the ITR-2 will show fillable spaces, for NRIs, to show the number of days they were in India, under both the rules. Not just one.

Hope you understand the difference.

Moreover, here, we are discussing the filing of ITRs.
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Got it and agree with your points, Sir.

And I also agree that ITR 2 has different rules and whatever you said is correct because I too read the rows where it needs to be stated differently. 🙂
 
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