09-27-2011, 06:47 PM
DEAR SIR/MADAM
While e-filing return they are taking the whole of net taxpayable's 3.5 months ratio to calculate flood surcharge again payable, this adds to heavy tax.
Like for contracts over the year the tax for full year comes to 500,000 excluding tax deducted by parties on surcharge for last 3.5 months,,, . In online return they are calculating surcharge payable in this way 500,000/12*3.5=total surcharge payable which infact was not deducted by parties as surcharge becoz they only deducted on te payments made in last 3.5 months, SO IF WE TAKE BALANCE OF THE SURCHARGE DEDUCTED BY PARTIES AND THE SURCHARGE CALCULATION IN ONLINE TAX RETURN , THE BALANCE IS AMOUNT IS QUITE HUGE IN MANY CASES, HOW COULD WE PAY THESE LARGE AMOUNTS.
pls tell the solution to remove this extra tax from online filing, and please also tell is this problem being conveyed and under discussion by business community with tax authorites.
While e-filing return they are taking the whole of net taxpayable's 3.5 months ratio to calculate flood surcharge again payable, this adds to heavy tax.
Like for contracts over the year the tax for full year comes to 500,000 excluding tax deducted by parties on surcharge for last 3.5 months,,, . In online return they are calculating surcharge payable in this way 500,000/12*3.5=total surcharge payable which infact was not deducted by parties as surcharge becoz they only deducted on te payments made in last 3.5 months, SO IF WE TAKE BALANCE OF THE SURCHARGE DEDUCTED BY PARTIES AND THE SURCHARGE CALCULATION IN ONLINE TAX RETURN , THE BALANCE IS AMOUNT IS QUITE HUGE IN MANY CASES, HOW COULD WE PAY THESE LARGE AMOUNTS.
pls tell the solution to remove this extra tax from online filing, and please also tell is this problem being conveyed and under discussion by business community with tax authorites.
