The Income Tax department has released the top 10 Frequently Asked Questions (FAQs) relating to the filing of the income tax return for the year 2022-23. The last date of filing of return is 31st July 2022, i.e., tomorrow.
Addressing a question regarding self-assessment tax paid but not reflected in prefilled details, the income tax department “As per the normal process, it takes 3 to 4 days for different banks to provide information to the department. Post that, it gets prefilled in the Tax-returns/Pre-filled JSON. The taxpayer may opt to wait for the required time period for auto-reflecting details of the Taxes paid in ITR. Alternatively, in such cases where a taxpayer has already filled in additional details over and above the pre-filled details, such payment details can be entered manually after clicking on the ‘Add Details’ link for Advance Tax and Self-Assessment Tax Payment details under Schedule “Taxes Paid”.”
It was further clarified that in order to pre-validate the bank account and select a bank for a refund, the taxpayer needs to add a bank account in which a refund is required as per the below steps: Go to Profile>> My Bank Account>> Add Bank Account>> Provide correct bank details & validate. The request will be sent to the respective bank or NPCI for validation. Once validation is successful, the Taxpayer can nominate the bank account for a refund.
“While filing ITR, if the user has a bank account with ‘Validation in progress’ status, same can be nominated for refund and ITR can be filed without waiting for confirmation. However, the refund, if any, will be credited only after validation is done by the bank,” the department added.
In the case of the difference between income as shown in AIS and 26AS, it was clarified that “Income reflected in AIS and 26AS is based on information received from different sources and tax compliance made by different stakeholders. These are made available to the Taxpayer for reference purposes. A taxpayer should check his book of records and provide information in the return as per the information available to him. If there is variation between the TDS/TCS or tax payments as provided in Form26AS and the TDS/TCS or tax payments provided in AIS, the Taxpayer may rely on the TDS/Tax payment information provided in 26AS for the purpose of filing tax return and for computing Pre-paid Taxes.”
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