Thursday, March 10, 2016

[Asan Ideas for Wealth] Dear Ashal, Sundaram, Manu & friends,

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  Kapil Tiwari , Abhishek Acharya and 7 others posted in Asan Ideas for Wealth .       Kapil Tiwari March 11 at 2:53am   Dear Ashal, Sundaram, Manu & friends, 1) My mother passed away in March 2014. For F.Y. 2013-2014 (A.Y. 2014-2015), I registered myself as Legal Heir and filed the IT Return on her behalf. 2) For F.Y. 2014-2015 (A.Y. 2015-2016), most assets were "transferred" to my account as I was nominee/ joint account holder in the banks. Hence, I filed the IT Return for the entire income. 3) I understand that for F.Y. 2014-2015 (A.Y. 2015-2016), I could not have filed the IT Return on behalf of my mother as Legal Heir as she was not alive during this period. Is my understanding correct? 4) During F.Y. 2014-2015 (A.Y. 2015-2016), some TDS had been deducted against my mother's PAN since the banks broke some FD's of my mother only until as late as June 2015. So even in F.Y. 2014-2015, there was some Income against my mother's PAN. Even this Income I added to my Income and paid tax on it. I ignored the TDS already deducted on it. 5) Now an Intimation from the Income Tax E-filing Team, addressed to my mother, has been received. It states as follows: ---------------------------------------------------------------------------------------------Dear XYZ (my mother), We notice that you have not e-filed your Income Tax Return for AY 2015-16. This is a gentle reminder to file your Income Tax Return for AY 2015-16. E-file early to avoid the last minute rush. You are, therefore, kindly requested to login to https://incometaxindiaefiling.gov.in and download the free return preparation software with a host of new features to help you in preparing the Income Tax return and submit your return. Please take some time to browse through all the value –added services offered on the E-filing website that will help you prepare your return accurately and guide you in case of any prior pending items. The Department will monitor compliance in this regard and may initiate necessary follow-up action in case of any default. In case you have already e-Filed for Income Tax Return for AY 2015-16, kindly ignore this email. --------------------------------------------------------------------------------------------- Kindly advise. Thanks.   Like Comment    
   
 
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Kapil Tiwari, Abhishek Acharya and 7 others posted in Asan Ideas for Wealth.
 
   
Kapil Tiwari
March 11 at 2:53am
 
Dear Ashal, Sundaram, Manu & friends,

1) My mother passed away in March 2014. For F.Y. 2013-2014 (A.Y. 2014-2015), I registered myself as Legal Heir and filed the IT Return on her behalf.
2) For F.Y. 2014-2015 (A.Y. 2015-2016), most assets were "transferred" to my account as I was nominee/ joint account holder in the banks. Hence, I filed the IT Return for the entire income.
3) I understand that for F.Y. 2014-2015 (A.Y. 2015-2016), I could not have filed the IT Return on behalf of my mother as Legal Heir as she was not alive during this period. Is my understanding correct?
4) During F.Y. 2014-2015 (A.Y. 2015-2016), some TDS had been deducted against my mother's PAN since the banks broke some FD's of my mother only until as late as June 2015. So even in F.Y. 2014-2015, there was some Income against my mother's PAN. Even this Income I added to my Income and paid tax on it. I ignored the TDS already deducted on it.
5) Now an Intimation from the Income Tax E-filing Team, addressed to my mother, has been received. It states as follows:
---------------------------------------------------------------------------------------------Dear XYZ (my mother),

We notice that you have not e-filed your Income Tax Return for AY 2015-16. This is a gentle reminder to file your Income Tax Return for AY 2015-16. E-file early to avoid the last minute rush.

You are, therefore, kindly requested to login to https://incometaxindiaefiling.gov.in and download the free return preparation software with a host of new features to help you in preparing the Income Tax return and submit your return. Please take some time to browse through all the value –added services offered on the E-filing website that will help you prepare your return accurately and guide you in case of any prior pending items.

The Department will monitor compliance in this regard and may initiate necessary follow-up action in case of any default.

In case you have already e-Filed for Income Tax Return for AY 2015-16, kindly ignore this email.
---------------------------------------------------------------------------------------------

Kindly advise. Thanks.
 
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