Assessment year 2015-16 wrongly quoted by bank as ay 2016-17

This query is : Resolved

TARIQUE RIZVI (Querist)
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24 March 2016 I had paid SA Tax for the Ay 2015-16 but the SBI Main Branch Mumbai has inadvertently given credit to Ay 2016-17 on account of Advance tax instead of SA Tax for the Ay 2015-16. I am in trouble as I have to upload the IT Return latest by 31st March 2016 for them Ay 2015-16. What should I do ? Should I upload the IT Return before it gets credited to Ay 2015-16

Suresh Ramaswamy

Suresh Ramaswamy (Expert)
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24 March 2016 If the ITR for A.Y. 2015 - 16 is filed without payment of self assessment tax, it will rejected as a faulty return and you will have to refile it with interest u/s 234 A / B till the date of filing. Two options are open before you. Upload the return without payment of self assessment tax or upload the return showing the payment correctly as Self assessment Tax in the ITR. Before the CPC responds, approach the bank to rectify the mistake, so that as and when you respond to CPC objections you have the rectified challan with you.

There doesn't appear to be any other option.

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Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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25 March 2016 I Agree to Sureshji, after filling return with that challan details as self assessment tax you need to contact your bank to do correction in challan and if they not respond you have to contact your AO with application of correction in challan with a reason. If your challan corrected before assessment then no problem will be found in assessment.

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