Tax Consulting Services India

The government of India imposes an income tax on taxable income of individuals, Hindu Undivided Families (HUFs), companies, firms, co-operative societies and trusts (identified as body of individuals and association of persons) and any other artificial person. Levy of tax is separate on each of the persons. The levy is governed by the Indian Income Tax Act, 1961. The Indian Income Tax Department is governed by the Central Board for Direct Taxes(CBDT) and is part of the Department of Revenue under the Ministry of Finance Govt. of India. Tax Consulting Services India is a key source of funds that the government uses to fund its activities and serve the public. There are close to 35 million income tax payers in India. 

Everyone whose income exceeds the ;maximum amount, which is not chargeable to the income tax, is an assesse, and shall be chargeable to the income tax at the rate or rates prescribed under the finance act for the relevant assessment year, shall be determined on basis of his residential status.

Income tax is a tax payable, at the rate enacted by the Union Budget (Finance Act) for every Assessment Year, on the Total Income earned in the Previous Year by every Person. 

The changeability is based on nature of income, i.e., whether it is revenue or capital. The rates of taxation of income are-: 

Income Tax Rates/Slabs Rate (%) (as per budget 2012)

• Up to 2,00,000 = 0%,
• 2,00,001 – 5,00,000 = 10%,
• 5,00,001 – 10,00,000 = 20%,
• 10,00,001 upwards = 30%,

• Up to 2,50,000 (for resident individual of 60 years or above)= 0
• Up to 5,00,000 (for very senior citizen of 80 years or above)= 0
• Education cess is applicable @ 3 per cent on income tax, surcharge = NA

Online Complaint of Non-receipt of Income Tax Return

Problems of Income Tax Refund:

Today there are plenty of Income Tax return problems in India. It is very common for ordinary tax payers of the country. Though now there is automatic refund process introduced by the CBDT computerized process, but it is applicable to those who have given their bank account number and other details and opted for direct credit to their bank account. But those who have opted for cheque system tax refund is a big issue for them. There are some people who have not yet received the refund, on the other hand there are some who failed to receive so due to absence from home, as such the refund has returned unserved. Now-a-days only a few people receive the income tax refund within the specified time. Rest of the people suffers a lot to get that.

Latest method adopted by the Income Tax department:

 For the purpose of registering complaint about non-receipt of refund the Income Tax department as a friendly and responsible department has improved its procedures recently.

The complaints are registered at Mumbai, Delhi, Bangalore, Chennai and Pune. The latest Citizen Charter issued by the Income Tax department, the Government of India provides for the details of the contact numbers and address of the concerned authorities.

The Income Tax department aims to redress the complaints immediately within a very short time after registering of the complaint.

Procedure of filing complaint:

Complaint regarding Income Tax Refund can be done online from 2012-2013. One has to download the response sheet for failure of Income Tax refund. For the purpose of doing so one needs to visit the website of the Income Tax department, login his account by giving his Permanent Account Number as well as his password. Thereafter he has to select CPC refund failure status and select the assessment year. The rest of the job will be done by the Income Tax department.

The Online Refund Status is a very nice service given to the people by the Income Tax department. Refund is such an issue which bothers the common people to a great extent. The Income Tax department is also very much concerned with the refund process. There are many people who are really eager to know their refund status .The online process is an immense help for them.