01 February 2014
I am a salaried personnel. My company has filed TDS for the AY 2013-14. According to the form 16, they have paid the correct TDS as I can match it with the form 26AS i.e. total tax deposited matched with the total TDS deposited.
Today I have received a notice from Income Tax Regional Office that "The return of income filed by me for the AY 2013-14 is considered defective u/s 139(9) as tax determined as payable in return of the income filed has not been paid.
Now I have downloaded the ITR form 1 (Sahaj) of income tax and filled all the details according to my form 16. After completion of the ITR form 1, I found that on the page "income details" all the data correctly matches with the form 16 i.e.total tax and income payable correctly matches with the form 16. But when i moved to the" tax paid and verification" page it shows "Advanced Tax" and "Self Assessment tax", which I could not understand. That makes the total tax paid much higher than the TDS paid by the company. Therefore, some amount is showing in the "refund" section.
Kindly guide me what to do next because I am a salaried individual and i have no other source of income. Though one thing is there is that amount of one of my FD has been credited to my account in the previous year. Does that amount add up in my total income? I shall be very much grateful to you if you could answer my query as I HAVE TO ANSWER THE INCOME TAX DEPT.WITH IN 10 DAYS. KINDLY ANSWER ASAP.
02 February 2014
u have option to revise the defect as pointed out by AO within 15 days from date of intimation of such defect. Yes you need to add the FD amount and interest in you income as normally FD are EET mode. And what is shown by you is ok, than meet AO once for the same.
02 February 2014
Thank you Pranav sir for your reply.
I would like to know that my company did not know about the FD amount and they calculated the tax according to the salary, which is below 5 lacs (they deducted the tax as 10% of tax payable). In that case if we add the FD amount the total income will go above 5 lacs. Therefore, 20% of the tax should be payed. Is this the problem in my tax return? Kindly reply ASAP
CAclubindia
