#self assessment refund

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How To Get A HMRC Self Assessment Tax Refund

Have you ever wondered if you’re owed money from the taxman? It’s not as far-fetched as it sounds! Many people in the UK end up paying more tax than they owe and don’t even realize it. The good news is, it’s possible to claim back what you’re owed. In this friendly guide, we’ll walk you through the steps to getting a HMRC self assessment tax refund. Understanding Self Assessment and Tax…

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[mysimplytax]

In this video, we'll break down everything you need to know about tax relief and how it can benefit your retirement savings. So, let's dive right in!

[todaysdocument]

The Supreme Court ruled that the Defense of Marriage Act was unconstitutional on June 26, 2013. 

In U.S. v Windsor, SCOTUS held that the federal government could not discriminate against same-sex couples. 

Record Group 267: Records of the Supreme Court of the United States Series: Appellate Jurisdiction Case Files

Transcription: 

[Stamped: " FILE COPY "]

(Bench Opinion)                 OCTOBER TERM, 2012            1  [Handwritten and circled " 1"  in upper right-hand corner]

Syllabus

NOTE: Where it is feasible, a syllabus (headnote) will be released, as is

being done in connection with this case, at the time the opinion is issued.

The syllabus constitutes no part of the opinion of the Court but has been

prepared by the Reporter of Decisions for the convenience of the reader.

See United States v. Detroit Timber & Lumber Co., 200 U.S. 321, 337.

SUPREME COURT OF THE UNITED STATES

Syllabus

UNITED STATES v. WINDSOR, EXECUTOR OF THE

ESTATE OF SPYER, ET AL.

CERTIORARI TO THE UNITED STATES COURT OF APPEALS FOR

THE SECOND CIRCUIT

No. 12-307.  Argued March 27, 2013---Decided June 26, 2013

The State of New York recognizes the marriage of New York residents

Edith Windsor and Thea Spyer, who wed in Ontario, Canada, in

2007. When Spyer died in 2009, she left her entire estate to Windsor.

Windsor sought to claim the federal estate tax exemption for surviv-

ing spouses, but was barred from doing so by §3 of the federal Defense

of Marriage Act (DOMA), which amended the Dictionary Act---a

law providing rules of construction for over 1,000 federal laws and

the whole realm of federal regulations-to define "marriage" and

"spouse" as excluding same-sex partners. Windsor paid $363,053 in

estate taxes and sought a refund, which the Internal Revenue Service

denied. Windsor brought this refund suit, contending that DOMA vi-

olates the principles of equal protection incorporated in the Fifth

Amendment. While the suit was pending, the Attorney General notified

the Speaker of the House of Representatives that the Department

of Justice would no longer defend §3's constitutionality. In re-

sponse, the Bipartisan Legal Advisory Group (BLAG) of the House of

Representatives voted to intervene in the litigation to defend §3's

constitutionality. The District Court permitted the intervention. On

the merits, the court ruled against the United States, finding §3 un-

constitutional and ordering the Treasury to refund Windsor's tax

with interest. The Second Circuit affirmed. The United States has

not complied with the judgment.

Held:

1. This Court has jurisdiction to consider the merits of the case.

This case clearly presented a concrete disagreement between oppos-

ing parties that was suitable for judicial resolution in the District

Court, but the Executive's decision not to defend §3's constitutionali-

[page 2]

2                  UNITED STATES v. WINDSOR

Syllabus

ty in court while continuing to deny refunds and assess deficiencies

introduces a complication. Given the Government's concession, ami-

cus contends, once the District Court ordered the refund, the case

should have ended and the appeal been dismissed. But this argu-

ment elides the distinction between Article Ill's jurisdictional re-

quirements and the prudential limits on its exercise, which are "es-

sentially matters of judicial self-governance." Warth v. Seldin, 422

U. S. 490, 500. Here, the United States retains a stake sufficient to

support Article III jurisdiction on appeal and in this Court. The re-

fund it was ordered to pay Windsor is "a real and immediate econom-

ic injury," Hein v. Freedom From Religion Foundation, Inc., 551 U. S.

587, 599, even if the Executive disagrees with §3 of DOMA. Wind-

sor's ongoing claim for funds that the United States refuses to pay

thus establishes a controversy sufficient for Article III jurisdiction.

Cf. INS v. Chadha, 462 U. S. 919.

Prudential considerations, however, demand that there be "con-

crete adverseness which sharpens the presentation of issues upon

which the court so largely depends for illumination of difficult consti-

tutional questions." Baker v. Carr, 369 U. S. 186, 204. Unlike Article

III requirements---which must be satisfied by the parties before judi-

cial consideration is appropriate---prudential factors that counsel

against hearing this case are subject to "countervailing considera-

tions [that] may outweigh the concerns underlying the usual reluc-

tance to exert judicial power." Warth, supra, at 500-501. One such

consideration is the extent to which adversarial presentation of the

issues is ensured by the participation of amici curiae prepared to de-

fend with vigor the legislative act's constitutionality. See Chadha,

supra, at 940. Here, BLAG's substantial adversarial argument for

§3's constitutionality satisfies prudential concerns that otherwise

might counsel against hearing an appeal from a decision with which

the principal parties agree. This conclusion does not mean that it is

appropriate for the Executive as a routine exercise to challenge stat-

utes in court instead of making the case to Congress for amendment

or repeal. But this case is not routine, and BLAG's capable defense

ensures that the prudential issues do not cloud the merits question,

which is of immediate importance to the Federal Government and to

hundreds of thousands of persons. Pp. 5-13.

2. DOMA is unconstitutional as a deprivation of the equal liberty of

persons that is protected by the Fifth Amendment. Pp. 13--26.

(a) By history and tradition the definition and regulation of mar-

riage has been treated as being within the authority and realm of the

separate States. Congress has enacted discrete statutes to regulate

the meaning of marriage in order to further federal policy, but

DOMA, with a directive applicable to over 1,000 federal statues and

[NEW PAGE]

Cite as: 570 U.S._ (2013)           3

Syllabus

the whole realm of federal regulations, has a far greater reach. Its

operation is also directed to a class of persons that the laws of New

York, and of 11 other States, have sought to protect. Assessing the

validity of that intervention requires discussing the historical and

traditional extent of state power and authority over marriage.

Subject to certain constitutional guarantees, see, e.g., Loving v.

Virginia, 388 U.S. 1, "regulation of domestic relations" is "an area

that has long been regarded as a virtually exclusive province of the

States," Sosna v. Iowa, 419 U. S. 393, 404. The significance of state

responsibilities for the definition and regulation of marriage dates to

the Nation's beginning; for "when the Constitution was adopted the

common understanding was that the domestic relations of husband

and wife and parent and child were matters reserved to the States,"

Ohio ex rel. Popovici v. Agler, 280 U. S. 379, 383-384. Marriage laws

may vary from State to State, but they are consistent within each

State.

DOMA rejects this long-established precept. The State's decision

to give this class of persons the right to marry conferred upon them a

dignity and status of immense import. But the Federal Government

uses the state-defined class for the opposite purpose---to impose re-

strictions and disabilities. The question is whether the resulting injury

and indignity is a deprivation of an essential part of the liberty

protected by the Fifth Amendment, since what New York treats as

alike the federal law deems unlike by a law designed to injure the

same class the State seeks to protect. New York's actions were a

proper exercise of its sovereign authority. They reflect both the

community's considered perspective on the historical roots of the in-

stitution of marriage and its evolving understanding of the meaning

of equality. Pp. 13--20.

(b) By seeking to injure the very class New York seeks to protect,

DOMA violates basic due process and equal protection principles ap-

plicable to the Federal Government. The Constitution's guarantee of

equality "must at the very least mean that a bare congressional de-

sire to harm a politically unpopular group cannot" justify disparate

treatment of that group. Department of Agriculture v. Moreno, 413

U. S. 528, 534-535. DOMA cannot survive under these principles.

Its unusual deviation from the tradition of recognizing and accepting

state definitions of marriage operates to deprive same-sex couples of

the benefits and responsibilities that come with federal recognition of

their marriages. This is strong evidence of a law having the purpose

and effect of disapproval of a class recognized and protected by state

law. DOMA's avowed purpose and practical effect are to impose a

disadvantage, a separate status, and so a stigma upon all who enter

into same-sex marriages made lawful by the unquestioned authority

[page 3]

4           UNITED STATES v. WINDSOR

Syllabus

of the States.

DOMA's history of enactment and its own text demonstrate that

interference with the equal dignity of same-sex marriages, conferred

by the States in the exercise of their sovereign power, was more than

an incidental effect of the federal statute. It was its essence. BLAG's

arguments are just as candid about the congressional purpose.

DOMA's operation in practice confirms this purpose. It frustrates

New York's objective of eliminating inequality by writing inequality

into the entire United States Code.

DOMA's principal effect is to identify and make unequal a subset of

state-sanctioned marriages. It contrives to deprive some couples

married under the laws of their State, but not others, of both rights

and responsibilities, creating two contradictory marriage regimes

within the same State. It also forces same-sex couples to live as mar-

ried for the purpose of state law but unmarried for the purpose of

federal law, thus diminishing the stability and predictability of basic

personal relations the State has found it proper to acknowledge and

protect. Pp. 20-26.

699 F. 3d 169, affirmed.

KENNEDY, J., delivered the opinion of the Court, in which GINSBURG,

BREYER, SOTOMAYOR, and KAGAN, JJ., joined. ROBERTS, C. J., filed a

dissenting opinion. SCALIA, J., filed a dissenting opinion, in which

THOMAS, J., joined, and in which ROBERTS, C. J., joined as to Part I.

ALITO, J., filed a dissenting opinion, in which THOMAS, J., joined as to

Parts II and III.

[NEW PAGE]

Cite as: 570 U. S. _ (2013)          1

Opinion of the Court

NOTICE: This opinion is subject to formal revision before publication in the

preliminary print of the United States Reports. Readers are requested to

notify the Reporter of Decisions, Supreme Court of the United States, Washington,

D. C. 20543, of any typographical or other formal errors, in order

that corrections may be made before the preliminary print goes to press.

SUPREME COURT OF THE UNITED STATES

No. 12-307

UNITED STATES, PETITIONER v. EDITH SCHLAIN

WINDSOR, IN HER CAPACITY AS EXECUTOR OF THE

ESTATE OF THEA CLARA SPYER, ET AL.

ON WRIT OF CERTIORARI TO THE UNITED STATES COURT OF

APPEALS FOR THE SECOND CIRCUIT

[June 26, 2013]

JUSTICE KENNEDY delivered the opinion of the Court.

Two women then resident in New York were married

in a lawful ceremony in Ontario, Canada, in 2007. Edith

Windsor and Thea Spyer returned to their home in New

York City. When Spyer died in 2009, she left her entire

estate to Windsor. Windsor sought to claim the estate tax

exemption for surviving spouses. She was barred from

doing so, however, by a federal law, the Defense of Mar-

riage Act, which excludes a same-sex partner from the

definition of "spouse" as that term is used in federal stat-

utes. Windsor paid the taxes but filed suit to challenge

the constitutionality of this provision. The United States

District Court and the Court of Appeals ruled that this

portion of the statute is unconstitutional and ordered the

United States to pay Windsor a refund. This Court granted

certiorari and now affirms the judgment in Windsor's

favor.

I

In 1996, as some States were beginning to consider the

concept of same-sex marriage, see, e.g., Baehr v. Lewin, 74

[beesincognito]

Perfect Strangers- part two: The Classmate

Viktor x Fem!reader (SFW)

part one part three

Takes place before Arcane and works its way there, did my best to combine the different versions of lore. (nsfw in later parts)

(you and Viktor meet on your first day at the academy and bond over being habitual, awkward loners. The story revolves around class issues and a sense of belonging mixed with lore and Arcane plot. The story will split at some point and you choose which ending you want to read. Kind of self-indulgent... Based on interactions in platonic and romantic relationships with the men in my life.)

*no warnings for this part*

Word count: 3,203

******

You hadn’t even considered what you were going to do with yourself once classes had begun and independent research projects started in a few years. It seemed so far ahead, but you were surrounded by classmates excitedly discussing their ideas.  For now you could only focus on whatever Viktor was sharing with you everyday. You didn’t even think you’d see him everyday before school began, but there he was at your hotel door the next morning with tea for you and a few books from the library in a bag hanging from his arm. 

     “You’re late moving in,” he lowered himself into the chair at the dining table with a sigh. 

     “I only have a couple bags, they’re small anyways. I didn’t bring much,” you assessed your tiny travel bags on the hotel floor while gratefully sipping the tea, not counting your bag you brought everywhere for school and art, “maybe I didn’t bring enough.” You thought about how long you were actually going to be there and your closet full of clothes you’d left at home plus stationery supplies. It wasn’t like you were unable to ask your parents to send them from the other end of the city. It would only take a day for your stuff to get to you if you really cared.

     “Then let's go over so you’re settled. Classes start in a couple days,” he stood and lifted the closest bag which was no more than a large purse, hardly a travel case. 

     You checked out of the hotel early, refusing the refund for the spare nights. Viktor heard from a few feet behind as you chatted with the attendant; when you only referred to the possible refund as a “tip” he cleared his throat in surprise. He watched you sign off on the receipt without a second thought. Nothing caught your attention from his rigid body language when you turned to leave, letting him know everything was ready to go.

     The walk to campus was quiet for a bit as you checked the dorm number over and over making sure you got it right. Viktor thought about how comfortable you were surrounded by the expensive hotel lobby while he had been shuffling his feet behind you. 

     “How many days did you have left at the hotel?” 

     “Um, maybe three or four? I wasn’t paying attention when I signed the receipt,” casually waving your hand in a nonchalant manner. It had made you feel nice leaving the rest as a tip as you always did with spare change. 

     Viktor’s look of surprise went unnoticed by you as you went back to reading the letter detailing where your dorm was. Inside the elevator he cranked the lever to your floor number and you both listened to the rattling of the gears and cables lifting you up to your floor. 

     Decorative paper was plastered to the walls and copper trimmings instead of gold or brass like the majority of the campus. The doors were spaced close to each other, closer than you would have thought for such an expensive campus. You both slowly walked, checking the numbers on each door before finally finding yours. The keys jingled as you turned it with a jerk and the door creaked open with a moaning sound. 

     Light poured in through the window from lamps outside, not bright enough to illuminate the whole room so you clicked on the light that was just a lamp on the desk. 

     The dorm was small, tiny, more like a broom closet with a bed stuffed in it than a real room to live in. Viktor was unable to hide his surprise when you invited him to step in with you for the first time. His face scrunched as he assessed the space you had to work with. You didn’t think it was so bad, different from what you were used to by a long shot, but it had not phased you yet. Something about it was freeing.

     “Aren’t you going to unpack?” he gave you a confused look when you took your bag from his hand and tossed it under the bed, covering the bags with the long duvet. 

     “I’ll just get stuff as I need it,” you jumped up onto the bed which was twice the height of your regular bed but was a small twin sized mattress in width.

     “Is this room alright for you?” Viktor was seated on the hard wooden chair at the small desk. He couldn’t help but think about how your hotel room had been so grand compared to this and the way you acted towards money earlier that day.

     “I don’t see why not, homework, lying awake at night unable to sleep, maybe eating. I don’t need a lot of space for that. Honestly this is amazing.” Stretching out on your bed covered in the academy provided bedding was exciting. You assumed with the tuition you were forking out they would have included better accommodations, but you were not one to complain out loud.

     “Compared to other dorms it is very small, it must be from when the academy was first founded,” he rested his back against the chair, listening to it creek with age.

     You just loved listening to him talk about mundane things, his accent made everything sound sophisticated. You almost didn’t register the comment he made.

     “Wait what d’you mean?”

     “I’ll show you,” he pushed himself up gracefully with his cane and waved for you to join him.

     Following him down the hall, you left your floor, descending a couple of levels before Viktor stepped off of the elevator and onto his floor. The doors were spaced further apart in this hallway, making it obvious that the rooms were already twice the size, or more, compared to your room. You continued to follow him down the hall. Distracted by the gold molding you were not paying attention to when he stopped to unlock his door. Catching yourself before bumping into him only brushing against his arm instead. 

     He pushed his door open, allowing you to enter first before following. Closing the door behind him he stood by his desk which was larger than yours and already stacked with books.

     You started to feel shy looking around and noticing the little signs of life around the room. Imagining how he had been living in the space since last week since arriving from Zaun made you curious about all of the objects in the room. You wondered what that meant to him, being from the undercity, now that he had a place in Piltover at the academy.

     Pants were neatly folded and hung off of the edge of the bed frame where his feet would go, there was a book on the nightstand and his drawer was slightly opened. You avoided peeking, especially since he was right there. 

     Viktor noticed the double take you had with the night stand.

     “You can sit on the bed if you’d like,” politely offering and gesturing towards it.

     Thanking him, before you could sit you noticed there were two other doors in the room; one was next to the bed behind you and the other was next to the desk. The one behind his bed was slightly ajar which peaked your interest, noticing it was a bathroom.

     “You have your own bathroom?!” You gasped like a child as you straightened before sitting on his bed and looked in. “And a shower?!”

     “Your room should have had those as well, perhaps they mean to remodel your floor eventually. Though a hundred years give or take should have been enough time,” he laughed more at your excitement than at his own joke and you joined in.

     “Where does the other door lead?” you didn’t pry physically this time as you turned back into the main room.

     “A small kitchen I share with the room next door. Whoever was supposed to move in never showed.”

“Oh my gods, and it’s too late to switch rooms. Damn.”

     “You could probably talk to someone about it,” Viktor’s tone almost sounded hopeful.

     “Nah I’ll stick it out.”

     Continuing to chat and for a few hours about his books and your future classes, which had been anxiety inducing, put you at ease. It felt good to make him laugh as you talked since he usually seemed so serious when discussing academics. 

******

You spent the following school days together sharing ideas and listening to him talk so excitedly about his plans. The persistent longing for connection that was finally his, something you knew nothing about yet, and you were just glad he felt this comfortable with you. 

     As classes started you were pleased to find out you had a couple lectures and an elective together. The lectures were bearable with him there to explain things you failed to understand or when you had trouble paying attention. The elective was a robotics class focusing on streamline machinery for factory assembly lines. Which would make sense in the city of progress. Viktor had already been improving machines like those back in Zaun less than a year prior so it was calming to know you would have someone to get advice from.

     Routine was forming between you two. From meeting downstairs at the entrance to the dorms to walking together to grab tea or coffee on your way to classes. When you weren’t together in classes you already knew you would see each other anyways on the way back to the dorms every now and then. 

     Enjoying the company of someone else was foreign to you, especially when that someone was so new. It was surprising enough to you that it had not fizzled out after a couple weeks. His calm demeanor did wonders for your anxiety, especially when you were stressed or faced what seemed to be unsolvable problems in classes and unwarranted social settings. It took no time at all for him to gently talk you down from whatever was stressing you out or he would at least listen to your concerns. Solutions were only offered when you asked, making sure to not overstep a boundary by trying to give you unsolicited advice. 

     During one long lecture about the properties and definition of matter you felt particularly intrigued by the topic. You furiously scrawled notes into your pad, memorization was difficult for you without something to read. Compared to Viktor who only took a note here and there, you seemed like a madman. This had been the running theme so far over the last month, and some change, you would write a stack of notes and in the margins of your textbooks while Viktor understood the material with ease. 

     Not that he didn’t work hard, he definitely did in his own ways. Studying outside the material and topics of his courses, as he loved learning, was the norm for him.

     Sometimes it made you feel inadequate having to work harder than a majority of your classmates, but the results were worth it when you always got excellent scores. Earning praise for your academics from someone other than your parents was fun; Viktor always wanted to see your assignments and tests when you received them from the professor. He was fascinated with how much work went into some of your answers. 

     Your train of thought was completely visible to him as he read through your work in all of its chaotic steps. Those chaotic steps would sometimes get you scolded by the professor, but you could never work through some of the assignments without them. You weren’t sure if your work made Viktor think less of you as a scholar in the making, you decided it was better to not ask and just let him enjoy analyzing your work.

     Well into the school term, you were improving with Viktor’s help in academics. It was like having your own personal tutor who had endless patience with you. You would spent late nights in the library study rooms in the beginning, keeping academics out of your leisure time in the dorms when you worked together in silence. For you it was art while he read. Something about staying in his dorm all night seemed like overstepping a boundary when you were huddled together over paperwork, instead of sitting across the room from each other relaxing and reading. 

     You had gotten to the point where rationalizing and reasoning never crossed your mind in relation to your friendship, it existed as it was, comfortably.

******

During your robotics elective with Viktor, feeling your hands clam up, you waited your turn to present your project. The class was moved to a large lecture hall for presentations for a better view of the gadgetry. Something about the wall of students made your stomach drop. 

     Viktor was nervous as well as he presented, but was calm enough on the outside to make it through with no mistakes before rejoining you in the audience. 

     All you could do was wipe your hands on your pleated uniform skirt. Whatever bewitched you to wear a shorter skirt that day of all days escaped you, maybe you thought it would grant some false confidence. Hearing your name being called made your heart hammer against your ribs. You squeezed past the classmate next to you, legs awkwardly brushing against his knees as you stepped out into the aisle and down the stairs after apologizing to him. 

     Viktor didn’t appreciate the smirk the guy had on his face as you passed. Viktor’s eyes traced the guy’s gaze which led to your skirt bouncing slightly with each step you took to the presentation stage. 

     It was far from the first time another guy had noticed you beyond just another classmate they passed by occasionally. Viktor would be lying if he didn’t at least admit you were cute on the daily, the way your eyes lit up over the smallest aspects of the day was the sweetest thing to him. 

     The guy had noticed Viktor and you were making eye contact as you finished setting up your machine. 

     When you stopped to take a deep breath, composing yourself, you looked to him for reassurance. In response, Viktor gave you a soft wave and a thumbs up which prompted you to start speaking. 

     “Hey, eh Viktor right?” The whisper came from Viktor’s side and he turned to look at the guy. He was large, muscular, like he trained often. 

     “Yes, and you?” he accepted his outstretched hand and politely shook it.

     “Caston,” his sly grin made Viktor internally cringe. “Hey I was wondering about your friend, how long have you known her?”

     “A while,” Viktor’s answer was brisk as he didn’t like where the conversation was heading.

     “Are you seeing each other?” Caston chewed his bottom lip as he watched you present, noticing how you were basically presenting to just Viktor and the professor.

     “Why do you ask?” Viktor avoided the real answer instead of answering sarcastically by telling him you saw each other everyday. 

     “Just wondering since you always arrive and leave class together. I’ve seen you guys around campus sometimes, seemed cozy to me.” He leaned towards Viktor, “if not I was thinking about asking her out. I’ve had my eye on her for a while, she’s nice.”

     “I see,” he turned his full attention back to you. You looked so sweet, passionately explaining your project as you summarized your findings and began to wrap things up. He didn’t want to lie, preventing you from experiencing life by telling every interested person that he was yours. 

     Resting his chin on his hand as he thought about you dating someone else cut him off from Caston going psst repeatedly next to him until he felt his shoulder being tapped.

     “Well are you or not?” he asked quietly as you started putting your project away, making the stage ready for the next student.

     “Oh… eh, no, just friends.” Viktor admitted as you waved at him, he grinned and gave you a small wave back. The apathy in his eyes did not go unnoticed by you as you sat back down next to him. 

     “How did I do?” you buzzed next to his ear, still nervous from the presentation.

     “You were perfect,” Viktor assured you with his usual smile, shaking his head when your eyes gave away your worry, he tried to wipe the sour mood from his face. 

     During the rest of the presentations you spent your time drawing in your sketchbook, leaning your head against Viktor’s shoulder. He watched you draw in-between paying attention to the other presentations. Occasionally catching Caston eyeing you both closely, especially when you would look up at Viktor to ask him an innocent question about the other projects or about where you were going for lunch after class. 

     Caston watched you with invested interest, remembering all the times he had seen you interact with Viktor in and out of class. He figured you were just being nice, and he honestly knew nothing about you outside of academics, as he watched you pick a piece of lint off of Viktor’s pant leg. 

     When class was dismissed you waited for Viktor to stand before joining him, Caston had stepped out into the aisle to let you both pass. He watched you walk out, following close behind waiting for a break in your conversation to ask you out. You had already met before so there was no need for introductions. 

     “Hey, y/n,” Caston reached out to get your attention in the middle of you talking to Viktor. 

     You stopped and looked at him in confusion, “yes?” 

     “I’ve been wondering if you wanted to go out sometime,” his charming smile made you blush when you realized what he was asking.

     “Oh, uh, when?” You didn’t want to schedule anything during your regular study times with Viktor.  “We kind of have research to do.”

     Viktor stepped off to the side, giving you ample space so no one felt awkward. Plus, this was the last conversation he wanted to be a part of. 

     “Like just coffee or something,” he suggested, a friendly smile mixed with his words. “We could go when you’re free from,” he glanced at Viktor who was pretending to be nose deep in a pocket sized book, “studying or whatever.”

     Caston loomed over you, he was taller than Viktor and you felt a little intimidated. You couldn’t deny he was classically attractive with his nearly flawless olive skin and dark eyes. His square jaw was artistically defined, perfectly kept curls adorned his head, occasionally falling over his forehead. What possessed him to ask you out was far from your index of explanations.

     “I’m free tomorrow morning,” you practically blurted out and blushed. 

     “The café?”

     “Sure,” you smiled at him as you left, taking in his dark eyes one last time over your shoulder as you went back to Viktor. 

     He saw how glad you seemed to be noticed by someone romantically. He cared about you enough to be happy for you as he listened to you change the topic from Caston and instead asked him about the book he was reading. 

     Regardless of his support for you, Viktor couldn’t help but feel his heart sink.

******

[jjtax]

Understanding Tax Refunds: JJ Tax made it easy

Handling tax refunds can seem overwhelming, but having a clear grasp of the process can make it straightforward. This newsletter aims to demystify tax refunds by covering key aspects: eligibility criteria, claiming procedures and tracking your refund status.

What is a Tax Refund?

A tax refund represents the amount returned to taxpayers who have overpaid their taxes over the fiscal year. This situation arises when the total tax deducted or paid exceeds the actual tax liability determined based on their income.

In India, tax payments are made through TDS (Tax Deducted at Source), advance tax, or self-assessment tax. When the total tax paid or deducted surpasses your tax liability as calculated in your Income Tax Return (ITR), the excess amount is refunded. This mechanism ensures taxpayers are reimbursed for any overpayments.

Who is Eligible for a Tax Refund?

Eligibility for a tax refund depends on various factors:

Excess Tax Payments If your TDS or advance tax payments exceed your tax liability, you’re eligible for a refund. This often applies to salaried employees, freelancers, and individuals with taxable investment income.

Claiming Deductions If you claim deductions under sections like 80C, 80D, etc., and these deductions lower your tax liability below the total tax paid, a refund may be due.

Filing an Income Tax Return Only those who file their Income Tax Return can claim a refund. The return must accurately reflect your income, deductions, and tax payments to establish if a refund is warranted.

Losses to Set Off If you have losses from previous years or the current year that can be carried forward and set off against current year income, you might be eligible for a refund if these losses reduce your tax liability.

Who is Not Eligible for a Tax Refund?

Certain situations or individuals may not qualify for a tax refund:

Income Below Taxable Threshold If your total income is below the taxable limit, a refund may not be applicable.

Salary Below Government Criteria Individuals earning below the minimum threshold specified by the Government of India may not qualify for a refund.

No Overpayment If your tax payments match your tax liability or you haven’t overpaid, a refund will not be available.

Non-Filers or Incorrect Filers Those who fail to file their Income Tax Return or file it incorrectly will not be eligible for a refund. Proper filing is essential for initiating the refund process.

Invalid Deductions Claims for deductions that do not meet tax regulations or lack valid documentation may result in a refund rejection.

Incorrect Bank Details If the bank account information provided in your ITR is incorrect or incomplete, the refund may not be processed.

How to Claim Your Tax Refund

Here’s a step-by-step guide to claiming your tax refund:

File Your Income Tax Return (ITR) Access the Income Tax Department’s e-filing portal. Choose the correct ITR form based on your income sources and eligibility. Accurately complete all required details, including income, deductions, and tax payments.

Verify Your ITR Verify your ITR using Aadhaar OTP, net banking, or by sending a signed ITR-V to the Centralised Processing Centre (CPC). Verification must be completed within 120 days of filing your ITR.

ITR Processing The Income Tax Department will process your return, assess your tax liability, and determine the refund amount. This process can take a few weeks to several months.

Refund Issuance After processing, the refund will be credited directly to your bank account. Ensure your bank details are accurate and up-to-date in your ITR.

Update Bank Account Details (if needed) If your bank details change after filing your ITR, promptly update them on the e-filing portal to ensure correct refund crediting.

How to Check Your ITR Refund Status for FY 2024-2025

To check your refund status, follow these steps:

Visit the Income Tax E-Filing Portal Go to the official Income Tax Department e-filing website.

Access the 'Refund Status' Section Navigate to the ‘Refund Status’ page, typically under the ‘Services’ tab or a similar heading.

Enter Required Details Input your PAN (Permanent Account Number) and the assessment year for your filed return.

Review the Status The portal will show the status of your refund, including whether it has been processed, approved, or if further action is needed.

Track Refund Processing Keep an eye on any updates or notifications from the Income Tax Department regarding your refund.

Understanding the tax refund process can simplify the experience. By following these steps and staying informed about your eligibility, you can make sure that you have a smooth process and quickly receipt of any excess tax payments. For expert guidance and personalized assistance, consult with JJ Tax. Visit our website or contact us today to get the support you need for all your tax-related queries.

JJ Tax

[raynebowrayne]

Tax code idea.

Abolish 100% of current code.

Replace it with:

20% transaction tax at point of sale for all goods and services.

A tax exemption will be created for transactions using a government issued benefits card to pay for goods or services. For example a purchase is tax exempt if made using a card containing government issued benefits such as food stamps, SSI, SSDI, Social Security, cash assistance for families with dependant children, and/or any other spendable government assistance or entitlement. This does not include government paychecks or salaries issued via a debit card.

Make a second tax category for luxury goods and services. Define luxury goods and services as any good or service that is priced at 3x the average price for the majority of similar goods and prices of the same type. For example if the average price for a wrist watch is $30 before tax a wrist watch costing $100 before tax would also be subjected to a 20% luxury item tax in addition to the original 20% transaction tax. It would cost $140 at the register/checkout.

A third tax category for super luxury items would also be created. A super luxury tax of 40% would be assessed to any good or service that cost 6x or more what the average price of a similar good or service of the same type. If wrist watches have an average price of $30 and you buy a wrist watch that costs $200 or more you'll pay an extra 40% tax in addition to the 20% transaction tax. So a $200 before tax wrist watch would cost $320 at the register/checkout.

These would be the only taxes a non business owning citizen will ever pay. No recurring taxes on items like land, homes, and cars can ever be implemented. Taxes on items themselves, like cigarettes, gasoline, and alcohol, can never be implemented. Citizens who do not own a busniess will never pay any tax except the transaction tax of 20% plus any luxury or super luxury tax applicable.

Business taxes.

Businesses must collect a 20% transaction tax for every transaction, that is not made with a benefits card, in which they are participating as the recipient of currency from a customer or client.

Transaction, luxury, and super luxury taxes must be remitted every quarter by the 15th day of the quarter following the quarter in which they are collected.

Micro businesses will be exempt from paying a business tax.

A micro business is any business that does not profit at least 5x the average annual income of a family of four.

Independent contractors and the self employed must obtain a business license and pay taxes according to their business classification based on the amount profit they generate.

A small business tax of 20% will be created for businesses that profit an amount equal to or greater than 5 times the average income of a family of four.

A large business tax of 30% will also be created for businesses that profit 100 times or more the average income for a family of four.

A commercial business tax of 40% will be created for businesses that profit 500x or more the average income of a family of four.

A super business tax of 60% will be created for businesses that profit 1000x or more the average income of a family of four.

A mega business tax of 75% will be created for businesses that profit 10000x the average income for a family of four.

Business taxes must be remitted at the same time as transaction taxes and must be based on the transactions for which those taxes are being submitted.

Profit is defined as all money generated through the sale of goods or services minus the cost of people employed by the hour and the typical costs of doing business such as utilities, rent for a brick and mortar location, raw materials necessary to manufacture, perform or create a good or service, or the cost of goods intended to be resold as is.

The earnings of investors, salaried employees, and executives do not count as cost of doing business and must be paid from a business's profit.

A tax refund will only be issued to businesses and only in the case of an overpayment of transaction, luxury, or super luxury taxes because of accidental faulty math or customer returns of purchased goods.

This is how to reset the economy and make it BOOM again. This is how you reduce poverty. This is how you reduce crime. This is how you increase wages. This is how you reduce prices. This is how you win.

#taxplan #taxreform #replacethetaxcode #economy #poverty #crime

[poojalate]

A Step-by-Step Process of Getting a Home Loan

Securing a home loan can be a significant step toward owning your dream home. The process, however, can be complex and requires careful planning and understanding. Here’s a step-by-step guide to help you navigate the process of getting a home loan:

1. Assess Your Financial Situation

Check Your Credit Score: Your credit score is one of the key factors lenders consider. A higher score can help you secure better interest rates.

Evaluate Your Income and Expenses: Determine how much of your income can go towards EMI payments without straining your budget.

Save for a Down Payment: Most lenders require a down payment, typically 10-20% of the property value. The larger the down payment, the lower the loan amount.

2. Research Home Loan Options

Compare Lenders: Different banks and financial institutions offer varying interest rates and terms. Use online tools to compare lenders.

Fixed vs. Floating Interest Rates: Decide whether a fixed interest rate, which remains the same throughout the loan tenure, or a floating rate, which fluctuates with the market, is better for you.

Loan Tenure: Consider the length of the loan. A longer tenure means smaller EMIs but more interest paid over time.

3. Check Your Loan Eligibility

Use an Eligibility Calculator: Input your financial details into a loan eligibility calculator to estimate how much you can borrow.

Understand Lender Criteria: Lenders consider your income, employment stability, age, and existing financial commitments when determining eligibility.

4. Gather Necessary Documentation

Identity Proof: Passport, Aadhaar card, voter ID, or PAN card.

Address Proof: Utility bills, rental agreement, or passport.

Income Proof: Salary slips, bank statements, and income tax returns.

Property Documents: Sale deed, NOC from the builder, and other relevant property papers.

5. Apply for the Home Loan

Online or In-Person Application: You can apply online through the lender’s website or visit a branch to submit your application.

Fill Out the Application Form: Provide accurate details about your income, employment, property, and other required information.

Submit Documents: Upload or submit the necessary documents as requested by the lender.

6. Loan Processing and Verification

Processing Fee: Pay a non-refundable processing fee, which may be a fixed amount or a percentage of the loan amount.

Document Verification: The lender will verify your submitted documents and may ask for additional information if needed.

Credit Appraisal: The lender assesses your creditworthiness by reviewing your credit score, repayment history, and financial stability.

7. Property Valuation and Legal Check

Property Valuation: The lender appoints an independent valuer to assess the market value of the property.

Legal Check: The lender’s legal team examines the property documents to ensure there are no legal disputes or issues.

8. Sanctioning the Loan

Loan Approval: Once all checks are complete, the lender issues a sanction letter detailing the loan amount, interest rate, tenure, and other terms.

Review Terms: Carefully review the terms of the sanction letter, including any hidden charges or fees.

Accept the Offer: If satisfied with the terms, sign the acceptance copy and return it to the lender.

9. Disbursement of the Loan

Disbursement Request: Once you’ve signed the acceptance letter, you can request the disbursement of the loan.

Disbursement Mode: The lender typically disburses the loan directly to the seller or builder in case of a new property, or to you if it’s a balance transfer or self-construction.

Disbursement Conditions: The lender may release funds in installments, particularly for under-construction properties.

10. Repayment and EMI Management

Set Up Auto-Debit: Link your bank account to ensure timely EMI payments.

Prepayment Options: If possible, make prepayments to reduce the loan tenure or the total interest payable.

Monitor Your Loan: Regularly review your loan statement and keep track of interest rate changes, especially if you have a floating-rate loan.

Conclusion

Getting a home loan involves a series of steps, from assessing your financial situation and researching options to applying and managing repayment. By understanding each step and preparing accordingly, you can navigate the process smoothly and secure a loan that best suits your financial needs and home-buying goals.

[engrammonline]

Unlock Your IELTS Potential: Key Factors to Consider When Choosing an Intensive Course

Preparing for the IELTS exam can be a daunting task, especially if you’re aiming for a high score that opens doors to new academic or professional opportunities. One of the most effective ways to boost your chances of success is by enrolling in an intensive IELTS preparation course. However, with so many options available, choosing the right course can be overwhelming. Here’s a comprehensive guide to help you select an IELTS intensive course that best suits your needs and maximizes your chances of success.

Assess Your Goals and Needs Before diving into course options, it’s crucial to identify your goals and specific needs. Are you preparing for the Academic or General Training module? What score are you aiming for? Do you have particular strengths or weaknesses in the IELTS sections? Understanding your goals will help you choose a course that aligns with your requirements.

Research Course Options Start by researching different IELTS intensive courses available in your area or online. Look for programs offered by reputable institutions, language schools, or online platforms. Key aspects to consider include: Course Format: Choose between in-person, online, or hybrid courses based on your learning preferences and schedule. Duration: Intensive courses can vary from a few weeks to several months. Ensure the duration fits your preparation timeline. Class Size: Smaller class sizes often mean more personalized attention, which can be beneficial for addressing individual needs.

Evaluate Course Content and Structure Examine the course curriculum and structure to ensure it covers all aspects of the IELTS test comprehensively. A good IELTS intensive course should include: Listening Practice: Training with various listening exercises and real test recordings. Reading Skills: Strategies for tackling different types of reading passages and questions. Writing Skills: Guidance on both Task 1 and Task 2, including essay writing techniques and feedback. Speaking Practice: Opportunities for one-on-one or group speaking practice with feedback on pronunciation, fluency, and coherence.

Check for Experienced Instructors The quality of instructors can significantly impact your learning experience. Look for courses taught by experienced IELTS teachers who have a track record of helping students achieve high scores. Instructors should have a deep understanding of the test format and effective teaching methods.

Review Student Feedback and Success Stories Reading reviews and testimonials from previous students can provide valuable insights into the effectiveness of the course. Look for feedback on:

Teaching Quality: Was the instruction clear and helpful? Support and Resources: Were additional resources provided to aid in self-study? Success Rates: How many students achieved their desired scores after completing the course?

Consider Course Flexibility Intensive courses often require a significant time commitment. Ensure that the course schedule aligns with your availability and other commitments. Flexibility in terms of class timings, make-up sessions, and additional support can be advantageous.

Compare Costs and Value While cost shouldn’t be the sole deciding factor, it’s important to consider the value you’re getting for your investment. Compare the costs of different courses and evaluate what’s included in the fee, such as: Study Materials: Are textbooks, practice tests, and online resources provided? Additional Support: Does the course offer extra help, such as one-on-one tutoring or exam simulations? Money-Back Guarantee: Does the course offer a satisfaction guarantee or refund policy?

Look for Accreditation and Affiliations Ensure the course provider is accredited or affiliated with recognized organizations. Accreditation can be a sign of quality and credibility, giving you confidence that you’re receiving a reputable education.

Assess Course Support and Resources Effective IELTS preparation goes beyond just attending classes. Check if the course provides additional resources such as: Online Portals: Access to practice tests, interactive exercises, and video tutorials. Study Groups: Opportunities to collaborate with peers for group study sessions. Regular Assessments: Frequent quizzes and mock tests to track your progress and identify areas for improvement.

Try a Trial Class Many courses offer trial classes or introductory sessions. Take advantage of these opportunities to experience the teaching style, interact with instructors, and assess whether the course meets your expectations.

Conclusion Choosing the right IELTS intensive course can make a significant difference in your test preparation journey. By carefully evaluating your goals, researching course options, and considering factors such as course content, instructor experience, and student feedback, you can find a program that aligns with your needs and helps you achieve your desired IELTS score. With the right course and dedicated effort, you’ll be well on your way to reaching your language proficiency goals and opening new doors for your future.

[sharesamadhan23]

IEPF Claim & Recovery Process: A Step-by-Step Guide

Understanding the Investor Education and Protection Fund (IEPF)

An IEPF claim is crucial for investors seeking to recover unclaimed dividends, matured deposits, or shares. The Investor Education and Protection Fund (IEPF) was established by the Government of India to protect these unclaimed amounts and uphold investor interests. Managed by the Ministry of Corporate Affairs (MCA) and governed by the IEPF Authority under Section 125(5) of the Companies Act, 2013, the IEPF ensures that unclaimed dividends, deposits, and shares are not misused but are maintained for the rightful owners.

This guide aims to provide a thorough explanation of how to recover shares from IEPF and details the steps required to make an IEPF claim effectively.

Key Features of the IEPF

1. Unclaimed Dividends and Deposits: Companies are required to transfer any unclaimed dividends or matured deposits to the IEPF in accordance with MCA regulations.

2. Unclaimed Shares: Shares for which dividends have remained unclaimed for seven consecutive years are transferred to the IEPF, in accordance with Section 124(6) of the Companies Act, 2013.

3. Investor Education: The fund also supports educational initiatives to inform investors about financial markets, investment options, and their rights.

4. Protection of Investor Interests: The IEPF ensures that unclaimed amounts are safeguarded for the benefit of the investors, preventing companies from retaining them indefinitely.

5. IEPF Authority: The IEPF is administered by the Ministry of Corporate Affairs through the IEPF Authority, which manages the fund and supervises the transfer of unclaimed amounts.

Why Are Shares and Dividends Transferred to the IEPF?

Under Section 124(5) of the Companies Act, 2013, dividends that remain unclaimed for seven consecutive years must be transferred to the IEPF. Similarly, shares with unclaimed dividends for seven or more years are transferred to the IEPF as per Section 124(6). This process ensures that unclaimed assets are not indefinitely held without the rightful owners being aware of their entitlements.

What is IEPF Form-5?

IEPF Form-5 is used by shareholders to reclaim shares or dividends that have been transferred to the IEPF. Investors need to complete and submit this form to initiate the refund process.

Step-by-Step Guide to Recovering Shares from IEPF

Step 1: Obtain an Entitlement Letter 

Ensure you receive an entitlement letter from the company before you start your IEPF claim process.

Step 2: Fill and Submit IEPF Form-5 Online 

Visit the official MCA website, complete IEPF Form-5 with accurate details, and submit it online. You must also email a copy of the form to the specified MCA address.

Step 3: Receive SRN Number for Tracking 

After successful submission, you will receive a Service Request Number (SRN) that can be used to track the progress of your claim application.

Step 4: Send Physical Documents to Nodal Officer 

Send a hard copy of the submitted form and all required documents to the company's Nodal Officer for verification.

Step 5: Verification Report from the Company 

Within 15 days, the company is required to submit a verification report to the IEPF Authority, indicating whether the claim has been accepted or rejected.

Step 6: Final Approval and Transfer of Shares 

The IEPF Authority will assess the claimant's eligibility based on the company’s verification report. If approved, the shares will be credited to the claimant's Demat account within 60 days.

Documents Required for Filing an IEPF Claim

To file an IEPF claim, the following documents are needed:

- A self-attested copy of your PAN and Aadhaar cards.

- A canceled cheque.

- A client master list for the Demat account, duly verified by the Depository Participant (DP) and the claimant.

- Self-attested SRN acknowledgment.

- An indemnity bond, witnessed and self-attested by the claimant.

- An advance receipt with a revenue stamp, the claimant’s self-attestation, and witness signatures.

- A letter from the Registrar and Transfer Agent (RTA), approved by the Nodal Officer, as proof of entitlement.

- Original share certificates (if held in physical form) or a copy of the Demat transaction statement. In cases where share certificates are lost, attach documents submitted to the RTA for duplicate issuance.

- A copy of the passport and OCI/PIO card (for foreign citizens and NRIs).

- Any additional documents required by the company to validate changes such as name, address, or signature, or to issue duplicate shares.

Common Mistakes to Avoid in the IEPF Claim Process

Here are some common errors to avoid when filing IEPF Form-5:

- Mismatches between the applicant's name or date of birth and the PAN database.

- Incorrect or invalid PAN, Aadhaar, passport, or OCI/PIO card details.

- Wrong selection of Rule 7 applicability, especially in cases where the original shareholder is deceased.

- Incorrect folio numbers or dividend details.

- Inaccurate bank or Demat account information.

- Missing or improperly attached mandatory documents.

Ensure all information matches the official records and that all necessary documents are included to avoid delays.

Conclusion: Secure Your Investments with the IEPF Claim Process

Filing an IEPF claim is vital for recovering unclaimed shares, dividends, or deposits transferred to the IEPF. Knowing how to recover shares from IEPF and following the outlined steps can help investors reclaim their rightful assets. If you need guidance in this process, Share Samadhan offers expert assistance to ensure a smooth and successful claim.

[bondstreetmortgage]

Understanding Second Home Mortgage Requirements: A Comprehensive Guide

Are you dreaming of owning a second home, maybe a vacation retreat or an investment property? Understanding the ins and outs of second home mortgages is crucial before diving into the purchase. In this comprehensive guide, we’ll cover everything you need to know about second home mortgage requirements in the USA. Let’s get started!

What is a Second Home Mortgage?

A second home mortgage is a loan taken out to purchase a property that is not your primary residence. This can be a vacation home, a rental property, or an investment property. These mortgages have different requirements and terms compared to primary home loans, so it’s essential to understand the specifics.

Eligibility Criteria.

To qualify for a second home mortgage, lenders will look at several key factors:

Credit Score.

Your credit score plays a significant role in qualifying for a second home mortgage. Generally, lenders prefer a credit score of at least 620, but a score of 700 or higher will improve your chances of securing a better interest rate.

Pro Tip: Before applying, check your credit report for errors and work on improving your score. Paying down debts and making timely payments can boost your credit score.

Debt-to-Income Ratio (DTI).

Lenders assess your debt-to-income ratio to ensure you can handle the additional mortgage payments. A DTI of 43% or lower is ideal, but some lenders may accept higher ratios based on other factors like credit score and down payment.

Pro Tip: Calculate your DTI by dividing your monthly debt payments by your gross monthly income. Aim to reduce your DTI by paying off smaller debts or increasing your income before applying.

Down Payment.

Second home mortgages typically require a larger down payment than primary residences. Expect to put down at least 10-20% of the property’s purchase price. A higher down payment can also help you secure a lower interest rate.

Pro Tip: Save for your down payment early by setting aside a portion of your income each month. Consider using windfalls like bonuses or tax refunds to boost your savings.

Income and Employment Verification.

Lenders need to verify your income and employment status to ensure you can afford the second home mortgage. Provide documentation such as tax returns, pay stubs, and employment verification letters.

Pro Tip: Self-employed individuals should be prepared to provide additional documentation, such as business tax returns and profit and loss statements, to prove income stability.

Property Requirements.

The type and location of the property can affect your mortgage approval. Here are some considerations:

Property Type.

Lenders prefer traditional second homes, such as single-family homes, condos, or townhouses. Unique properties like tiny homes or manufactured homes may have stricter requirements or limited financing options.

Pro Tip: Consult with your lender early to understand their property criteria and ensure your desired second home meets their requirements.

Occupancy.

Second homes must be suitable for year-round occupancy. Vacation properties that are only accessible during certain seasons may face additional scrutiny or higher interest rates.

Pro Tip: Consider purchasing a property that can be used year-round to increase your financing options and improve rental income potential.

Location.

Properties in desirable locations, such as popular vacation spots or growing urban areas, are more attractive to lenders. Rural or remote properties might be harder to finance.

Pro Tip: Research local real estate markets to find areas with strong demand and appreciation potential. This can make your second home a better investment in the long run.

Interest Rates and Loan Terms.

Interest rates and loan terms for second home mortgages can differ significantly from primary home loans:

Interest Rates.

Second home mortgages often come with higher interest rates due to the increased risk for lenders. However, a good credit score and a sizable down payment can help you secure a competitive rate.

Pro Tip: Shop around and compare offers from multiple lenders to find the best interest rate. Consider locking in your rate if you expect market rates to rise.

Loan Terms.

Loan terms for second home mortgages can vary, but common options include 15-year and 30-year fixed-rate mortgages. Adjustable-rate mortgages (ARMs) may also be available but come with more risk due to fluctuating interest rates.

Pro Tip: Choose a loan term that aligns with your financial goals. A shorter term may have higher monthly payments but can save you money in interest over the life of the loan.

Tax Implications.

Owning a second home comes with tax implications that can impact your overall financial situation:

Mortgage Interest Deduction.

You can deduct mortgage interest on a second home if the combined mortgage debt of your primary and second home does not exceed $750,000. This can provide significant tax savings.

Pro Tip: Keep detailed records of your mortgage interest payments and consult a tax professional to maximize your deductions.

Rental Income.

If you plan to rent out your second home, rental income is taxable. However, you can deduct expenses such as property management fees, maintenance costs, and mortgage interest to offset your rental income.

Pro Tip: Track all rental-related expenses meticulously and consider using property management software to simplify record-keeping and reporting.

Conclusion.

Purchasing a second home is a significant financial decision that requires careful planning and understanding of mortgage requirements. By focusing on your credit score, DTI, down payment, and property specifics, you can improve your chances of securing a favorable mortgage. Remember to consider the tax implications and explore different loan options to find the best fit for your financial goals. Happy house hunting!

[taxblgs]

Income Tax Refund - How To Check Income Tax Refund Status For FY 2023-24 (AY 2024-25)?

Missed the ITR deadline? Don't worry! You can still file your Income Tax Return before December 31st, 2024, with a belated return. Need help? Contact us, Taxring experts, and we'll guide you through the process. Avoid penalties and file your belated return with ease. Reach out to us today!

What is an Income Tax Refund?

An income tax refund is a reimbursement from the government when you’ve overpaid your taxes during a financial year. This excess amount is returned to you after the tax authorities review your payments and liabilities.

For example, if a taxpayer pays Rs. 15,000 in taxes for the fiscal year 2023-2024 but has an actual tax burden of just Rs. 10,000, the Income Tax Department will reimburse Rs. 5,000 to the taxpayer. After filing and validating the income tax return, the department will start processing it. Once the return has been processed, the refund is typically credited to the taxpayer's bank account within four to five weeks.

 How Does an Income Tax Refund Work?

1. Overpayment:Sometimes, taxpayers end up paying more tax than required through mechanisms such as:   - Tax Deducted at Source (TDS)   - Advance Tax Payments   - Self-Assessment Tax

2. Filing Your Return: When you file your income tax return (ITR), you report your total income, deductions, and the taxes you've already paid. 

3. Assessment:The tax authorities then assess your return to determine your actual tax liability. This includes reviewing your claims for deductions, exemptions, and tax credits.

4. Refund Calculation: If the tax authorities determine that your actual tax liability is lower than what you’ve already paid, the excess amount is calculated as your refund.

5. Receiving the Refund:Once your return is processed and approved, the excess amount is refunded to you. Note:To receive your income tax refund, you must complete the e-filing of your return. Ensure that all details are accurately filled out to avoid delays in processing.

If you've paid more taxes than you owe, you can request a refund for the excess amount. To track your refund status, simply use the Income Tax Department's online facility.

Here’s how:

1. Check Your Refund Status: Enter your PAN (Permanent Account Number) and the Assessment Year on the official portal to see the progress of your refund.

2. Refund Timeline: Refunds are usually processed within 4-5 weeks after e-verifying your return.

3. If Delayed:

   - Review Your Return: Log in to the e-filing portal, go to "e-File" > "Income Tax Returns" > View Filed Returns to check for discrepancies.

   - Check Your Email:Look for notifications from the Income Tax Department regarding your refund status.

   - Track Your Refund:Use the online tools provided to monitor your refund progress.

How to Claim Your Income Tax Refund

1. File Your Income Tax Return:Submit your return with details of your income, deductions, and taxes paid.

2. Refund Calculation:The refund amount you’re eligible for will be automatically calculated and shown in your return.

Follow these steps to ensure you receive the refund you're due!

To receive an income tax refund, you must complete the e-filing process. Make sure you e-file this year to receive your tax refund sooner.

How to Easily Calculate Your Income Tax Refund

If you’ve paid more tax than you actually owe, you can get the extra amount back as a refund. Here’s a simple way to figure it out:

Refund Calculation:

Refund = Taxes Paid – Tax Liability

Steps to Calculate Your Refund:

1. Add Up Your Taxes Paid: This includes Advance Tax, TDS (Tax Deducted at Source), TCS (Tax Collected at Source), and Self-Assessment Tax.

2. Find Your Tax Liability:This is the total tax you actually owe for the year.

3. Subtract Your Tax Liability from Taxes Paid:This will give you the amount of your refund.

Example:

Let’s say Mr. Gupta paid ₹3,00,000 as advance tax. At the end of the year, he finds out his total tax liability is only ₹2,00,000. Here’s how to calculate his refund:

₹3,00,000 (Taxes Paid) - ₹2,00,000 (Tax Liability) = ₹1,00,000 (Refund)

What To Do Next:

File your Income Tax Return (ITR). The tax department will check your details, and if everything is correct, they’ll send the ₹1,00,000 refund to your bank account.

It’s that simple! Get started and claim your refund today!

How can  I Check My Income tax  Refund Status for 2024-25?

1. Use the Income Tax Portal.

Step 1: Access the income tax portal and sign in to your account.

Step 2: Click on 'e-File', choose 'Income Tax Returns' and then select ‘View Filed Returns’

Step 3: You can see the status of your current and past income tax returns.

Step 4: Click on 'View details,' and you'll see the status of your income tax refund, as shown in the picture below.

2. Through NSDL Portal 

Step 1:  Visit the NSDL Portal

Step 2: Enter your PAN details, select the Assessment Year from the drop-down option for which tax refund is awaited and enter the Captcha Code

Step 3: Click ‘Proceed’ under the ‘Taxpayer Refund (PAN)’ option

You will be directed to a page that displays the ‘Refund Status’.

3. Through TRACES

Step 1: Log in to the income tax portal

Step 2: Click on ‘e-File’, select ‘Income Tax Returns’ and hit ‘View Form 26AS’

Step 3: You will be directed to the TDS Reconciliation Analysis and Correction Enabling System (TRACES) page, and Click on ‘View Tax Credit (Form 26AS/Annual tax statement) at the bottom of the page

Step 4: Select the Assessment Year from the drop-down menu, and select view as ‘text’

You are directed to a page that displays the details of the paid refund

Related Articles:

Old Vs New Tax regime

How to file ITR after the deadline

What are the reasons for Refund Failure?

Income tax Audit under section 44AB

What is a Belated Return & How to  file a Belated Return ?

[samycaree]

What is Supported Independent Living?

Supported Independent living is senior housing that focuses on self-sufficiency. If your loved one needs a little help with daily tasks but not significant hands-on care, this could be the right choice for them.

You can access SIL through your NDIS plan. This article will explore what this means for you, including how to find and engage a service provider.

What is a CCRC?

Continuing Care Retirement Communities, or CCRCs (also called Life Plan Communities) offer seniors the option to live independently, then access care services as their needs change. Typically, residents begin their CCRC residency in independent living and can later transition to other levels of care—including assisted living and skilled nursing—while still living on the same campus.

Generally, a CCRC offers a wide variety of amenities and programs designed to keep its residents active. These can include fitness classes, art workshops and happy hours, and many CCRCs feature on-site healthcare facilities.

Most CCRCs charge a one-time entrance fee and monthly service fees. Depending on the contract type, some build the cost of future care into those fees while others offer a refundable entrance fee or refundable portion of the one-time entry fee to help protect your assets. Download our free CCRC Insider's Guide Workbook to learn more about this senior living option. It is a useful resource for financial or legal advisors as well as individual consumers.

What is an ILC?

ILCs are state-chartered institutions (currently operating in California, Colorado, Hawaii, Indiana, Minnesota, Nevada, and Utah) that under certain circumstances do not qualify as “banks” under the Bank Holding Company Act. This means that a nonfinancial company may control an ILC, and it would not be subject to the same regulatory oversight and supervision as a BHCA-registered bank.

ILCs provide property line estimates to help mortgage and title companies verify that new fences or other improvements don’t encroach on neighboring properties. They are also commonly used by municipalities for construction permitting.

In a sense, an ILC is a less comprehensive version of a land survey. For example, it doesn’t examine all boundary lines or locate all utilities. For this reason, we recommend seeking a full survey to get accurate property deed dimensions before beginning any construction project. That said, our team has decades of experience supplying ILCs that satisfy mortgage and title companies. We can also recommend the best way to solve any issues that an ILC uncovers.

What is a SIL?

SIL provides NDIS participants with support services to live in their own home or share accommodation, such as a supported living arrangement, community residence, or a host family. SIL providers work with individuals and their families to develop a personalised support plan that meets their needs, goals and preferences.

The NDIS’s SIL funding covers the cost of support workers who can help with daily activities, including cooking and washing. The funds can also help with accommodation costs.

SIL stands for Safety Integrity Level and is used in functional safety standards like IEC 61508. The term SIL has become commonplace in Request for Proposals (RFPs) and purchase requirements in many industries. Nevertheless, many engineering managers don’t have a full understanding of SIL’s meaning and how to apply it in their work. This course, AN INTRODUCTION TO FUNCTIONAL SAFETY, breaks down the basics and gives attendees a clear framework to follow. SIL can be calculated from the risk assessment methodologies PHA and LOPA, using probability of failure on demand or per hour (PFD/PFH) to meet a target SIL level defined during the allocation process.

What is a CIL?

Generally speaking CIL is a way to fund paid support to help you learn new skills and live independently in the community. Usually participants will receive this funding through the National Disability Insurance Scheme (the NDIS).

Development that may be liable for CIL includes new homes and buildings such as extensions, self-build houses and annexes. The levy is payable on any new building with a gross internal floor area of over 100 square metres, but there are some types of development that can be exempt or qualify for relief from the levy – see the CIL Guidance section for more details.

A key feature of CILs is consumer control – meaning that a person with a disability is assumed to be the expert in their own needs and circumstances, and should be at the centre of decision making about how they are supported. This is why all CILs are governed by a board of directors composed of people with disabilities, as well as other community members.

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Tips to Choose the Best Self-Drive Cars on Rent

As much as we all enjoy vocational tours, long distance tours can often require several hours of travel time. Therefore, being comfortable throughout is key. Most often people prefer traveling by their own car; but if the destination is quite far then train or flight tickets must be purchased to arrive there. Exploring such far off places may prove more challenging as we must find taxis and cabs to access all nearby visitor spots; sometimes this requires waiting quite some time until one comes around!

If you want to experience comfortable traveling, self-drive car rental service could be just what is needed. One can rent and Self Drive Cars in Punefor official and vocational family tours as well as personal outstation travel. In order to ensure they receive optimal service when renting their vehicle. However, several aspects must be taken into consideration prior to renting their vehicle.

Here are a few tips for finding the best car rental service:

Look for a reputed car rental organization:

When selecting an organization offering Self Drive Luxury Cars in Pune, one should first ensure their reputation. This can easily be verified by looking through reviews posted on their site, as well as by comparing service quality against others available nearby.

Rent the Most Appropriate Car:

Based on your specific requirements, renting the appropriate car is easy. Your selection will depend on factors like number of passengers and place being visited; sedans might work well on planes while SUVs provide superior handling across rugged mountainous roads. Also ensure all safety features like central door locking system, speed alert system, airbags and parking sensors are present before making a choice.

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Check for hidden fees:

It is essential that one reviews their rental charges carefully in order to identify any additional or hidden fees, since some companies charge for minor damages and partial coverage insurance policies. One should also verify whether or not the security deposit being made is fully refundable.

Otherwise, clients could face having to return partial amounts which could add further charges aside from car rental fees. One should carefully review the terms and conditions to avoid additional charges, and ensure there are no liability fees related to damage or any other accidental event. Doing this will not only save hidden fees but will also aid you in finding the most affordable package for Self Drive Car Rental Delhi.

Make Sure the Car is Damage-Free:

Before hiring a Self Drive Car Rental Mumbai, one should conduct a comprehensive examination from both inside and out to ensure there is no visible damage or dent present on it. If there are any visible issues such as scratches or dent present on it, take pictures immediately to notify the renting agency as this will protect yourself from being held liable for this type of damage in future rentals. Furthermore, one should ensure their provider offers roadside assistance if needed.

Attest the car's working condition:

To ensure optimal car operation and avoid further hassles, one should perform a short drive test to assess its working condition. Basic things such as quality of brakes, tyres, engine, headlights and fog lamps need to be confirmed, along with whether there's a spare tyre along with a stepney Jack in your vehicle and mileage needs to be verified.

Carefully read through your car renting agreement:

As a renter, one should carefully go over their contract. Specifically, date, duration and costs need to be clear as part of this document. Furthermore, read up on any applicable terms and conditions so as to prevent unexpected extra payments in any circumstance.

Verify That Car Papers are Shared:

Before renting from any agency, be certain all necessary car papers have been released for inspection. An easy way to do this is creating a checklist to check their availability.

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Comprehensive Guide to Income Support Programs for Single Mothers

Single mothers face a unique set of financial challenges, balancing the costs of raising children with the need to provide a stable home environment. Income support programs are essential in helping single mothers achieve financial stability and improve their quality of life. This guide aims to inform single mothers about the various income support programs available and how to access them.

>>>Single Mothers Income Support Programs<<<

Government Assistance Programs

Temporary Assistance for Needy Families (TANF)

TANF provides temporary financial aid to low-income families with children. The program helps single mothers cover essential living expenses while they work towards self-sufficiency. Eligibility is based on income and family size, and recipients must participate in work-related activities such as job training or employment. To apply for TANF, single mothers can visit their local Department of Social Services office or apply online through the state’s TANF portal.

Supplemental Nutrition Assistance Program (SNAP)

SNAP offers food assistance to eligible low-income individuals and families. The program helps single mothers purchase groceries, ensuring their children have access to nutritious food. Eligibility is determined by income and household size, and benefits are distributed monthly via an Electronic Benefit Transfer (EBT) card. Single mothers can apply for SNAP benefits online or at their local SNAP office.

Earned Income Tax Credit (EITC)

The EITC is a refundable tax credit for low- to moderate-income working individuals and families. Single mothers who qualify can receive a substantial tax refund, which can be used to cover various expenses. Eligibility is based on income, filing status, and the number of qualifying children. To claim the EITC, single mothers must file a federal tax return and include the necessary forms.

Child Support Enforcement

Office of Child Support Enforcement (OCSE)

The OCSE provides services to help single mothers obtain child support from noncustodial parents. These services include locating noncustodial parents, establishing paternity, setting up child support orders, and enforcing payments. Single mothers can apply for child support services through their state’s child support enforcement agency.

State-Specific Child Support Programs

In addition to federal services, many states offer specific child support programs to assist single mothers. These programs may include additional enforcement measures, legal assistance, and support services. Single mothers should contact their state’s child support office to learn about available programs and how to apply.

3. Housing Assistance Programs

Housing Choice Voucher Program (Section 8)

The Section 8 program provides rental assistance to low-income families, helping cover a portion of rent based on income. Single mothers can use these vouchers to rent safe and affordable housing in the private market. Eligibility is determined by income and family size, and applications are managed by local public housing agencies. The application process typically involves a waiting list due to high demand.

Public Housing Programs

Public housing programs offer affordable rental housing to low-income families. These programs are managed by local public housing authorities and provide safe, subsidized housing options. Single mothers can apply for public housing through their local housing authority, which will assess their eligibility based on income and family size.

Emergency Rental Assistance Programs

Emergency rental assistance programs provide short-term financial aid to families facing eviction or homelessness. These programs can help cover rent, utilities, and other housing-related expenses. Single mothers can access emergency rental assistance through local nonprofits, community action agencies, or their local housing authority.

4. Health and Nutrition Support

Medicaid and Children's Health Insurance Program (CHIP)

Medicaid and CHIP provide health coverage to low-income individuals and families, including single mothers and their children. These programs cover a wide range of medical services, from doctor visits to hospital stays. Eligibility is based on income and family size. Single mothers can apply for Medicaid and CHIP online or at their local health department.

Women, Infants, and Children (WIC) Program

The WIC program offers nutritional support to pregnant women, new mothers, and young children. Benefits include healthy food, nutrition education, and access to health care services. Single mothers can apply for WIC at their local health department, where they will receive guidance on eligibility and the application process.

Supplemental Nutrition Assistance Program (SNAP)

SNAP, as mentioned earlier, not only provides financial assistance for food but also offers nutritional education and support services. Single mothers can benefit from SNAP's comprehensive approach to improving family health and nutrition.

5. Educational and Job Training Programs

Pell Grants and Federal Student Aid

Pell Grants are federal grants that help low-income students pay for college. Single mothers can use Pell Grants to cover tuition, fees, and other educational expenses. Eligibility is based on financial need, and applications are submitted through the Free Application for Federal Student Aid (FAFSA). Many colleges also offer additional financial aid and support services for single mothers.

Workforce Innovation and Opportunity Act (WIOA)

WIOA provides funding for job training and employment services to help individuals improve their job prospects. Single mothers can access training programs, career counseling, and job placement services through local workforce development boards. These services are designed to enhance skills and increase employability, leading to better job opportunities and financial stability.

Unemployment Insurance and Paid Family Leave

Unemployment insurance provides essential financial support for single mothers who find themselves without work. This program helps bridge the gap while they search for new employment opportunities, offering a lifeline during tough times. Paid family leave is another valuable resource, allowing mothers to take time off to care for their children or handle family emergencies without sacrificing their income. These programs significantly ease financial strain and promote well-being for families.

State and Local Job Training Programs

Many states and local communities offer job training programs specifically for single mothers. These programs provide skills training, career development, and employment assistance. Single mothers can contact their local workforce development centers or community colleges to learn about available programs and how to enroll.

6. Nonprofit and Community-Based Support

Local Nonprofit Organizations

Numerous nonprofit organizations offer financial assistance and support services to single mothers. Examples include:

United Way: Provides emergency financial assistance, family support services, and financial education.

Salvation Army: Offers emergency financial aid, food assistance, and housing support.

Community Action Agencies

Community action agencies provide a range of services to low-income families, including financial assistance, energy assistance, and emergency support. Single mothers can find and contact their local community action agency for help with various needs.

Religious and Charitable Organizations

Many religious and charitable organizations offer support programs for single mothers. These programs may include financial aid, food assistance, and counseling services. Single mothers can reach out to local churches, synagogues, and other faith-based organizations for support.

7. Practical Financial Management Tips

Budgeting and Financial Planning

Creating a budget is essential for managing finances effectively. Single mothers should track their income and expenses, prioritize needs over wants, and find ways to save money. Free budgeting tools and apps can help simplify this process.

Accessing Financial Counseling Services

Financial counseling services provide guidance on managing debt, improving credit scores, and planning for the future. Single mothers can find free or low-cost financial counseling through nonprofits, community organizations, and local government agencies.

Utilizing Local Resources and Networks

Building a support network is crucial for single mothers. Local resources such as parenting groups, community centers, and social services can offer support and assistance. Connecting with other single mothers can provide valuable advice and encouragement.

Conclusion

Single mothers face numerous financial challenges, but a variety of income support programs are available to help them achieve stability and improve their quality of life. By exploring government assistance, child support enforcement, housing programs, health and nutrition support, educational and job training opportunities, and community resources, single mothers can find the help they need. It is important to apply for multiple programs and seek out additional resources to maximize the available support. With the right assistance, single mothers can build a stable and prosperous future for their families.

[accountantready]

ITR Filing: Step-by-Step Guide

Income tax return filing is an important financial exercise every taxpayer in India needs to undertake annually. It is not only a legal duty but also a part of personal finance management. Knowing the nitty-gritty of ITR filing, especially in these digital times, would help save you both time and stress while ensuring compliance with tax laws. This guide shall seek to provide you everything you need to know about ITR filing, including how to file ITR online and how to learn ITR filing effectively.

What is ITR Filing?

ITR filing is, in effect, a report of your income and tax liabilities sent to the Income Tax Department. Based on the report, the government assesses your tax liability and sees whether you are paying the correct amount of taxes. If there is excess tax paid by you, you can claim a refund through your ITR. If there are dues, you will have to pay them.

Importance of ITR Filing

Legal Obligation: That means filing an ITR is compulsory when the income is more than the basic exemption limit. Failure to do so will attract penalties and other related legal liabilities.

Processing of Refunds: You can process your refund in case you have paid more tax than your actual liability by filing your ITR.

Loan and Visa Processing: ITR receipts are always asked for when one applies for loans or visas. This is because they prove the source of income.

Carrying Forward Losses: Filing ITRs on time helps one carry forward losses to future years set off against income in the coming years.

Proof of Income: ITR filings are considered valid documents to prove your income, especially in the case of self-employed individuals or professionals.

Steps to File ITR Online

Taxpayers can easily meet their tax obligations through e-filing, which happens to be an effortless and convenient way of filing returns. The steps to file ITR online are as follows:

Register on the Income Tax e-Filing Portal

You have to register on the income tax department's e-filing portal to file ITR online. You can do this with your PAN, which will then become your user ID.

Choose the Right ITR Form

There are different ITR forms that are applicable for different categories of taxpayers. For instance, ITR-1 (SAHAJ) is for salaried individuals, whereas ITR-4 (SUGAM) is applicable in cases where the taxpayer has opted for a presumptive taxation scheme. So, select the form based on your sources of income.

Get Ready with all Required Documents

Before you start filing ITR online, keep the following documents handy:

PAN Card

Aadhar Card

Bank Statements

Form 16/16A

Form 26AS

Investment proof

Loan interest certificates

Login and Fill the Form

Login to the e-filing portal and fill in the appropriate form. Fill in all your personal information, your income details, deductions claimed by you, and tax payments made by you. There are also pre-filled forms that include all information available with the Income Tax Department, which you have to check and complete.

Verify Information

Re-check all the information entered for accuracy. Inaccurate information may further delay processing and/or lead to penalties.

Calculate Tax Liability

The tax liability will automatically be calculated on the portal based on the information provided. You can also directly pay any outstanding tax through the portal.

Submit and E-Verify

After filling and scrutinizing the form, submit it. Once submitted, you have to verify your ITR. You can e-verify using methods such as Aadhaar OTP, net banking, or by sending a signed ITR-V to CPC.

Learning ITR Filing

With the increase in online resources and courses, learning ITR filing isn't quite difficult. Here are some ways to learn ITR filing:

Online Courses and Tutorials

A lot of online courses relating to the filing of ITR are available, from basic to expert knowledge on filing ITR online.

Government Resources

The website of the Income Tax Department contains a lot of information on the process, including FAQs, User Manuals, and Video Tutorials that shall help you understand the process.

Professional Training Institutes

Most accounting and tax training institutes have courses on how to file ITR. Such courses not only provide theoretical knowledge but also practical training and a feel of the real thing.

Webinars and Workshops

Webinars and workshops conducted by tax professionals will help you with tips and other valuable inputs needed in filing the ITR efficiently.

Tips for Efficient ITR Filing

File Early: Get rid of the last-minute hassles and file your ITR well before time. This also gives you enough time to make any mistakes right.

Keep Records Organized: Throughout the year, there needs to be a systematic record of the financial documents, which helps in having a smoother filing process.

Seek Professional Help if Required: If you have complex tax situations, then it is always advised to take the services of a tax professional for accuracy and compliance.

Stay updated: Tax laws and rules are subject to frequent changes. Keep updating yourself with new amendments to avoid getting surprised.

Use reliable software: If you choose to do this on your own, use reliable tax filing software that shall guide and minimize errors.

Common Mistakes to Avoid

Wrong choice of form: Ensure the right ITR form is chosen based on sources of income and the category of taxpayers.

Information Mismatch: A mismatch of information regarding PAN, bank accounts, and income figures should not exist.

Ignoring Additional Incomes: It is one of the mistakes of avoiding interest from savings accounts, F.D.s, and other sources like rent received.

Mistake about Bank Details: One should quote bank account details correctly, so that the refund may be processed without hassle.

Non-Verification of ITR: The process is not complete by just submitting your ITR. You need to e-verify it to complete the process. On failure, it can render your filing invalid.

Conclusion

ITR filing is one such thing that every taxpayer needs to know. Indeed, a lot easier with ITR filing online, things have become much simplified. The whole process can be made hassle-free with knowledge of its importance, following the correct steps, and learning from the available resources in this regard. So, be informed, get organized, and meet your tax obligations with confidence.