Please Help: From ITR 1 to ITR 4

Posted Date : 05-Feb-2012 , 01:28:37 pm | Posted By chaman

Hi all
An assessee was salaried employee after retirement that assessee was appointed as a professional accountant. he was retired from service on 31-03-2010. from 01-04-2010 onwards he was appointed as a professional accountant. for the privious year ending on 31-03-2011 he filed ITR 1 and claimed refund. After some months he finds that he has to file ITR 4 instead of ITR 1, now he filed ITR 4 and claimed for refund more than that of earlier refund. After online filing ITR 4 next day he got a cheque for refund of ITR 1. Nowwhat to do. Either realise cheque or refund the cheque to the IT deptt.
Plz give me expert advise

Category : Income Tax | Answers : 16 | Comments : 2 | Hits : 405

Answers

Answer By: Vaneet Gupta

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Deepa Jain

05-Feb-2012 , 02:10:04 pm

In our Views, You should collect the cheque received on the basis of ITR-1 and the balance amount Which is the difference of Refund on the basis of ITR-4 and ITR-1 wll be received after CPC processing.