Tax Return Query

[hsmp_sap]

Hi All,

If this query has already been adressed, my sinciere apologies for repeating the same query. A link to the earlier problem and resolution would be of immense help.

As per Indian Income Tax laws, tax return by salaried employees would require Form16 which is provided by the employer (Link: http://law.incometaxindia.gov.in/Taxman ... r=2005&ch=).

In my case, Form16 for year ending March-2007 would be provided by my employer by mid May. This means, I can only file tax return by end of May-2007.

I have all the payslips from April-2006 to March-2007 signed by my employer. Bank Statements from April-2006 to March-2007 are avaialble with me. I also have an e-mail from my employer towards the tax deducted by him during the period April-2006 to March-2007. This is an e-mail communication which does not have any signature but would perfectly reconcile with the figures in my payslips.

I have prepared a statement of reconciliation and would like to know.

How do I proceed with the above?
Can the statement act as a corroborative evidence in absence of the Form16 and Tax return.

Any suggestions are most welcome.

Best Regards,
SAP Consultant.

[hsmp_sap]

Hi All,

To put my earlier query in a different way

During mid of the tax year if a person decides to apply for HSMP, what are the options that are avaialble apart from submitting the bank statements and salary statement from employer.

Best Regards,
SAP Consultant

[durraq]

Buddy,

I have a similar case, got Apr'06- Mar'07 online wageslips (stamped/signed), plus I have gotten Statement of Earnings/Tax Deductions from my employer.

I am also applying in the middle of Tax Year. Here Tax year runs from July-June. I have got bank statements as well.

I am also wondering, what evidence could we give them for qualifying the request for xceptional consideration (not providing the ITR thingy)!!!

SOME PLEASE HELP US BOTH!!!!

[ns7]

Hi,
I don't think there should be any problem in case ITR is not available. In my case I applied in october 2006 and enclosed my endorsed salary slip (signed and stamped) and original bank statements (for printed ones I ensured that there is bank seal). Regarding ITR I enclosed the original tax return for financial year 2005-2006 but clearly mentioned the situation (in form of explaination pages) that for current year ITR would be filed in 2007. But there are few points which should be taken care of:
(i) If application is to be filed in just after end of financial year then one should request employer to issue form 16 so that tax returns can be filed earlier. This can be done in form of an email. Even if you cannot get the form 16 the employer's reply can be attached in the explanation pages.
(ii) These days salary slips mentions TDS (Tax deducted at source). Also in some companies they provide estimated tax sheet along with the salary slips. These too can be provided as proof if some one is sending HSMP application and form 16 is not available.
But the core point is that you should be able to clear justify your proof so that case worker has no doubt.
Regards,
ns7

[ns7]

hi again,
Regarding the the options that are avaialble apart from submitting the bank statements and salary statement from employer please refer the HSMP guide thoroughly. I think CA statement should also work.
Regards,
ns7

[mohan76]

hi guys,
my situation too is exactly the same, since i am planning to apply in may and i dont have the FORM 16 and further can't make the ITR ready.

Dear NS7: Thanks for ur detail reply. But u have not mentioned whether ur case got approved or not without the ITR. IF yes then we all need ur help.........u have very nicely written on the few points to be taken care of but can u please share the formats/ letters which u used to justify ur case of not supplying the ITR. This will be very helpful u know.

Sonu

[ns7]

hi,
details are enclosed. since my application was under old scheme so just ensure that you understand the current requirements very clearly.
regards,
ns7

Details:
(i) I applied under old scheme (later half of October 2006)
(ii) Approval letter was issued in November which I received by Royal Mail in December.
(iii)Applied for EC (for self not family) in Feb (2006) end and got passport back with visa in 3 days.

For HSMP Application Salary part I provided following evidences: (1)Last 12 months wage slips (2)Evidence from employers (3)Income Tax Return (4)Other - Bank statements

PS: All of my documents were in form of a display file where put index and page numbers.

I also provided explanation wherever necessary. I am stating the explanation which I used to explain my salary situation:
SALARY SLIP(Last 12 months wage slips):
·For salaries for last 12 months please refer salary slips on pages <...>.
·Monthly deductions (including income tax) are mentioned in the salary slips.
·<mention of anything extra paid in salary e.g. referral amount etc.>
EMPLOYER LETTER(Evidence from employers):
·For salaries from <month> to <month> please refer Promotion / Increment / Agreement Letter on Page <...>
·For salaries from <> to <> also refer emails from Company on Page <...>
INCOME TAX RETURN:
·Income Tax Return Form for the financial year 2005 – 06 is on Page <...>
First 6 months (Oct 2005 to Mar 2006) of past 12 months (Oct 2005 to Sep 2006) are covered in Income tax return. Last 6 months (Apr 2006 to Sep 2006) will be reflected in Income Tax Return for financial year 2006 – 07 which would be filed next year.
·Copies of Form 16 (for financial year 2005 - 06) given by employers are also on Page <...>
·Estimated Tax for Current Financial Year is on Page <...>

Regarding Bank statements I didn't find any need for explanation because net salary amount on salary slip was clearly reflected on the bank statement

For EC I submitted my payslips, bank statements, company letters mentioning salary and last 3 years ITRs

[ns7]

To be on safe side if your company can give form 16 by May end or early June then you should apply after filing your IT return.