ITR-1 Filing Doubt
Hello Dimers,
As we are approaching the ITR filing for AY-2023-24, I needed some clarification in filing my ITR-1 related to "Other Income sources".
While declaring the proofs to my company, I showed more amount in "Other Sources" of income such as FD interest, Savings etc. so that I would not have to pay any advance tax for any quarter & that my company would take care of the tax deduction.
However, I would want to know that while filing ITR-1 now, I need to have the refund for the above as I don't see that I would have that much amount under "Other sources" of income. (Declared a higher amount last Dec'22 under Other sources)
Can anyone tell me as to how & what amount from which source (Form 26AS, AIS, TIS) etc. should I declare while filing ITR-1 so that the extra amount declared would now appear as Refund in Income tax filing.
TIA!!
@bikidas2060 @kartikxxx @guest_999 @aam_aadmi @dhinchakrohit @Neo53
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Who told you that showing more FD Interest , savings int etc will decrease your tax liability? It would've increased your total income.
File correct figures now on ITR. Correct figures are available on AIS. If you have more but not reflecting on AIS, add them too. But most probably it will show correct figures. Don't file your earlier submitted figures ( form 16).
So where would I get the exact figures on "Other sources of income" from while filing ITR?
Fill the income details as per 26AS & AIS, you will get the refund back.
DM for ITR filling at low rate.
, I showed more amount in "Other Sources" of income such as FD interest, Savings etc. so that I would not have to pay any advance tax for any quarter & that my company would take care of the tax deduction.
Why did you do that? If you have paid more taxes than your tax bracket then only you are eligible for a refund.