Missed the Deadline for Tax Proof Submission: Can I Still Submit to the Tax Department?

Hi,

The last day for submitting the proofs of savings in our company was 15th Jan. Somehow, I was not able to do that. I tried to submit the proofs last week; however, the concerned person did not accept them. The result of that reflected in the salary statement for the month of Jan, which showed Rs 1500 as a tax deduction.

Is there any way I can submit the proofs directly to the Income Tax Department?

Thanks and Regards, Alok Bhat

Hi,

You can do that while you file your returns, and you will get the excess tax paid from the Income Tax Department.

Regards, Nishanth

Hi Alok,

Thank you for your message.

May I request you to please let me know the process for the same? Can I approach the Tax department in the coming days as I have the documents ready with me?

Thanks again.
Best regards,
Nishanth

Hi Alok,

You have to file it after you get Form 16 from your employer. Your employer should give it to you before 30th April 2007. So after that, you can file your returns.

Nishanth

Hi,

You just need to fill these figures into your ITR (saral) along with attaching relevant proofs; no need to worry about the figures appearing in Form 16. You need to recalculate the tax according to the proofs available, and any excess tax deducted will be reflected in your ITR and will be refunded by the IT department.

Regards,
Amit

Though you will get a refund of the excess tax paid, it will take its own time to come. Also, you have to go through the formalities of submitting the Saral form after filling up all the details in the form. You may need some expert help for filling this. Is it not wise to follow the company's deadline instead of complaining now?

Also, the company has its own problems of submitting the tax to the government and issuing Form-16. Hence, they have set a cut-off date. Be wiser next time.

Siva

Well, tax-saving documents can be considered until the preparation of payroll for the month of March, though it depends upon the company and individual policy. The 15th of January is a very harsh stipulation on the company's part. If you were not able to provide proof of investment, you should have been given an investment declaration form, stating the amount.

Still, your tax documents can be considered if you request the same or else submit them directly to the accounts department if HR is reluctant even after the request (but don't disclose). In any case, you will get a refund of excess tax paid as per the above advice, but not before September 2007.

Merry Lazying Around.