Rectification

This query is : Resolved

Mohit Mittal (Querist)
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14 October 2011 Hello,
I filled ITR-1 with Minus sign against Income from house property. I wanted to take deduction for loan against let out property. Now,I have received the intimation u/s 143(1) for AY 2011-12 where 'home loan interest' is treated by the system as an Income rather than Loss from house property by omitting (-) minus sign, hence resulting in tax payable.

Now under rectification i guess i need to fill ITR-2 form. Pls confirm.

My query is
1) ITR-2 will be filled as original return or revised return?
2) While filling online, in 2011_ITR2_r12. xls file , in column "return filed under section" there are only six options: 139(1), 139(4), 142(1), 148, 153 and 139(5).
Which option should I select?

Thanks,
Mohit.

CA Ashwani Agarwal

CA Ashwani Agarwal (Expert)
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14 October 2011 Dear Mohit,

There is no need to file a revised return as you have filed the correct particulars.

Rather you should submit an apllication u/s 154 to the ITO, to correct the mistake apparant from the record.

CA SUMiT PATWARi

CA SUMiT PATWARi (Expert)
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14 October 2011 File an application with the A.O. describing your case.
You cannot file another return now.
The intimation u/s 143(1) is deemed letter of demand. So make an application in writing to A.O.

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