why you must file income tax returns and declare interest Income
by uday shankar (View MyPage) on Jul 16, 2011 07:11 AM | Hide replies
One of the best articles so far by rediff useful for the common man. Please retain this for a while so that it shall be read by many and be helpful. All we readers know your articles are just to gather views for the feedback to the UPA Govt towards which you play a supportive role. But this article is quite useful to all. Special thanks to Sri Mahesh Padmanabhan.
Re: should i file return?
by Frazer Keswani (View MyPage) on Jul 17, 2011 10:46 AM
The above is for individuals, as for organizations (proprietorship) its mandatory to file returns, even if you have done biz of less than three lakhs. TDS certificate(form 16) has a mention of your PAN no. and when your accounts are audited, and return filed by a CA, whatever the balance amount from deductions deposited by clients, is refunded. It also helps you to get ST registration, much required in future (with growth).
Our former PM, Sri Rajiv Gandhi once said that only 10% of the money collected is usefully spent? Meaning 90% is being wasted/swindled? The entire nation is working on 10% efficiency only? We are a waste/useless?
I file my IT return in 2008 online and govt obey Rs. 14000 as refund to me. It has not credited in my account yet(very obvious,what else could be expected) ,anyway, now when I am trying to speak my ward officer or any agent who get my refund but they are helpless as i filed it online. As to them online cases executed from Bangalore and I had to go Bangalore. Agent also helpless as they dont know whom to give bribe(since i agreed on it) to get the regund.. what a f...ing system. I was in USA filled my return online and get my refund in 15 days ,each year for last three years...it is 100 % sure that we are 100 year back from them and 100000....% currupt from them