https://www.desidime.com/discussions/surplus-advance-tax-paid-by-mistake?page=1#post_8651623
UniqueDimer
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It's 1.35 lacs extra, not 1.25 lacs. Correct it please.
Surplus Advance tax paid by Mistake
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Hi DD,
Life comes with different adventures , latest being be -
Yesterday nite i was paying advance tax using IT Portal + Icici corporate net banking , by mistake extra 0 (Zero) was added to transaction amount i.e 15000 , came out to be 150000 (1.5 Lacs) Assessment Year : 2023-24 .
1. Bank is of no help , told to contact merchant ... IT deptt being in this case .
2. IT site suggest contacting Jurisdiction AO , being a tier-3 city they will make big issue of this .. will make me run offices / doors / babus ... will ask for extra kharcha paani i.e ghoos etc of 5-10 K .
CA suggests me to forget the whole issue and get a life lesson and wait for 1.2 years for refund after next filling ... i.e 1.25 lacs approx will remain stuck with no returns etc .
Amount is pretty big , please suggest some simple way out .
Thank You
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https://www.desidime.com/discussions/surplus-advance-tax-paid-by-mistake?page=1#post_8651627
Try contacting Jurisdictional AO.
If that doesn't work, then only way out is waiting for refund after filing return in June/July next year.
You would get Interest from 1st April 2023 till date of intimation @ 0.5% per month. Just that your ~1.15 lacs would get stuck that too without any interest for next 7 months.
https://www.desidime.com/discussions/surplus-advance-tax-paid-by-mistake?page=1#post_8651670
sarkaari babus just waits for gullible bakras to come , they don't have any contact number etc ... will try mailing them .
https://www.desidime.com/discussions/surplus-advance-tax-paid-by-mistake?page=1#post_8651642
Just wait for refund in tax filing if that's not a very big amount for you.Not worth the energy and time.
Also I think they pay interest on any extra tax paid but not sure
https://www.desidime.com/discussions/surplus-advance-tax-paid-by-mistake?page=1#post_8651679
It is better to leave as it is and get refund while filing next year return.
If you need this money then you have to visit local it office and they will manually process excess amount refund. This process depends upon IT officer cooperation. If he is helpful and non corrupt then whole process will take just 15 minutes.
https://www.desidime.com/discussions/surplus-advance-tax-paid-by-mistake?page=1#post_8651711
Corruption plays sing along when it comes to bihar and its govt babus .
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https://www.desidime.com/discussions/surplus-advance-tax-paid-by-mistake?page=1#post_8651912
Look at the bright side - you don't need to pay any tax for next 1 year!
https://www.desidime.com/discussions/surplus-advance-tax-paid-by-mistake?page=1#post_8652038
but company will deduct every month right ?
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https://www.desidime.com/discussions/surplus-advance-tax-paid-by-mistake?page=1#post_8651960
btw - how to pay advance tax from hdfc? i see only kotak and idbi net banking from IT portal
https://www.desidime.com/discussions/surplus-advance-tax-paid-by-mistake?page=1#post_8652248
Have you tried filing Revised ITR?
https://www.desidime.com/discussions/surplus-advance-tax-paid-by-mistake?page=1#post_8673365
Raise a grievance in efiling portal itself. 🙂🙂🙂
https://www.desidime.com/discussions/surplus-advance-tax-paid-by-mistake?page=1#post_8674743
You still have two installments of advance tax to pay. That will cover some of the part from your excess payment.
In the next ITR cycle, file your ITR at the earliest possible. Say you get the Form 16 by April 2023. File ITR immediately. You will get the refund in April 2023. Where is "wait for 1.2 years" coming into picture?
https://www.desidime.com/discussions/surplus-advance-tax-paid-by-mistake?page=1#post_8675388
Mine is Audited return by CA , so guess that takes time .. obtaining ledger from 50+ companies and complete paper work .
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https://www.desidime.com/discussions/surplus-advance-tax-paid-by-mistake?page=1#post_8675832
I will suggest to not pay the Advance Tax for such low amounts, Interest Rate is very Low, Instead Invest that amount somewhere else end enjoy higher returns, Pay Interest rate and Thank IT for such a low Interest Loan 😉
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