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This query is : Resolved
07 November 2011
Hi friends,
One of our client filed income tax return with out claiming loss from House property, but the same is considered in the Form 16 and TDS was dedcuted.
Now In the Assessment The assessing officer is saying that as the loss is not claimed in the Return, this can not be considered and need to pay the balance tax.
Friends if you have any idea about this please reply ASAP
One of our client filed income tax return with out claiming loss from House property, but the same is considered in the Form 16 and TDS was dedcuted.
Now In the Assessment The assessing officer is saying that as the loss is not claimed in the Return, this can not be considered and need to pay the balance tax.
Friends if you have any idea about this please reply ASAP
07 November 2011
you shall revised the return u/s 139(5) earlier filled return u/s 139(1)...and shall disclose loss from house propery in revised return....it is your duty to claim loss in return
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07 November 2011
Claim will not be considered if not supported by a properly filled in and verified return.
You have two choices now.
i) try revised return if the original is filed with in the due date and the assessment year is not barred by limitation.
ii) try revision, before the commissioner of income tax , after the completion of assessemt.
You have two choices now.
i) try revised return if the original is filed with in the due date and the assessment year is not barred by limitation.
ii) try revision, before the commissioner of income tax , after the completion of assessemt.
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07 November 2011
It may be possible that you might have filed belated return and at this stage, it may not be possible to do so.
You may informally accept your mistake and
requestthe ITO to consider the loss also, as it is apparent from the records available to him.
He can arrive the Salary Amount by Form 16
only, where deduction U/s 24 has been show.
Even if he does not accept , it can be get rectified at a later stage also.
You may informally accept your mistake and
requestthe ITO to consider the loss also, as it is apparent from the records available to him.
He can arrive the Salary Amount by Form 16
only, where deduction U/s 24 has been show.
Even if he does not accept , it can be get rectified at a later stage also.
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07 November 2011
Thank you sir,
But the thing is as it is for the A Y 2009-10 not able to file the revised return, by the time client comes to us it was beyond the due date.
But the thing is as it is for the A Y 2009-10 not able to file the revised return, by the time client comes to us it was beyond the due date.
07 November 2011
In this case, looking to the genuineness of the claim, ITO will allow the claim for loss as it directly emerges from the point, from where addition in income starts.
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