Queries regarding ITR

[haroldh]

I am about to submit my revised ITR and have few doubts

1. I filed ITR 1 by mistake and got 2500 refund, however i now understand that i need to fill ITR2 (since i have capital gains) and the refund eligibility is 1000 rs. How do I pay the excess 1500 to the Income tax department? Will i get a notice?

2. I have LTA in my salary component, however i did not submit proof to my employer and hence they deducted appropriate tax. The form 16 mentions LTA deductible as 0. I have done actual travel and have an invoice (lower than the total LTA i have received in salary), can i claim the same now while filing ITR?

 

[Shrinit Padwal]

You can go through this maybe - https://cleartax.in/s/how-to-file-i...WHSTM3_Duuj8AfR80f2339VdRLFJIAshoCJs4QAvD_BwE

I'm also not exactly sure on the excess payment part. Maybe consult some CA or an expert or someone who did file ITR 2

 

[sxchzy]

yo

I am about to submit my revised ITR and have few doubts

1. I filed ITR 1 by mistake and got 2500 refund, however i now understand that i need to fill ITR2 (since i have capital gains) and the refund eligibility is 1000 rs. How do I pay the excess 1500 to the Income tax department? Will i get a notice?

2. I have LTA in my salary component, however i did not submit proof to my employer and hence they deducted appropriate tax. The form 16 mentions LTA deductible as 0. I have done actual travel and have an invoice (lower than the total LTA i have received in salary), can i claim the same now while filing ITR?

u will get an option in itr 2 of refund of itr

 

[haroldh]

yo

u will get an option in itr 2 of refund of itr

Didn't get you?

 

[sxchzy]

so under ITR 2 mention the excess refund under other sources of income as refund from IT dept

Didn't get you?

 

[prashu]

My packge is 4LPA. But total transcations from april 22 to March 23 is aproximately 10Lakhs. because i rotated money from credit cards. I didn't returned ITR. If I want to apply will it be a problem?

 

[gurbina]

My packge is 4LPA. But total transcations from april 22 to March 23 is aproximately 10Lakhs. because i rotated money from credit cards. I didn't returned ITR. If I want to apply will it be a problem?

That's a difficult one.

IT seems more eager to send IT notices to those who didn't file ITR and have large transactions showing in AIS rather than those who did file ITR and their AIS looking the same.

This is from what others have experienced and shared in other channels like other forums, reddit and so on. I's always mostly the people who didn't file ITR.

Also just because your salary isn't taxable doesn't mean you can't file ITR and it is recommended that you file it either way.