1171 Can taxpayer take benefit of savings not considered by the employer during return filing

• published: 10 Jan 2015
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1171 Can taxpayer take benefit of savings not considered by the employer during return filing ? Project - Make Knowledge Free Video Link - https://www.youtube.com/watch?v=1sGU62vBNr0 Case Methodology - Harvard Case Model! Narration - By Amlan Dutta For previous year 2013 14 , i am a resident non senior individual. I had only salary income of 10 lakhs . I had also invested in propvidend fund for Rs 1 lakh wanting to claim deduction benefit under section 80 C . Unfortunately when my company seeked saving's documentation , i had forgotten to declare my this PF savings as a result of which they arrived at salary total income of 10 lakhs without taking effect this investment ! Likewise they deducted TDS as per income slabs and deducted 133900 Rs ..... Now while filing return , the question that most taxpayers would face in similar circumstances is that whether they can still claim benefit though employer has considered such investment and gone ahead and deducted more TDS due to untimely /non declaration of savings or any other thing etc etc The answer is yes . You can surely go ahead and claim benefit during the stages of return filing provided your claim is genuine . Process remains the same . You simply fill in the figures , claim tax refund ...in my case now that i claim benefit of this investment , my total income would translate to 9 lacs and the tax as per slabs would be 113300 Rs ..... However , since company has already deducted 133900 Rs as TDS , so i will take credit for the whole amount and therefore file a refund return for the balance 133900 - 113300 Rs ! I do hope , that this concept presented along with the tutorial will help answer this common doubt faced by many taxpayers ! Cheers , Amlan Dutta