05 July 2020
While validating Correction RPU for 24Q (Q4 : 2019-20), an error is shown as T-FV-4040 'Total Taxable Income(355-366)' not equal to the Difference of 'Gross Total Income(338+352)' - 'Gross Total of 'Amount deductible under provisions of chapter VI-A under associated Salary Details-Chapter VIA Detail' .
11 July 2024
The error "T-FV-4040 'Total Taxable Income(355-366)' not equal to the Difference of 'Gross Total Income(338+352)' - 'Gross Total of 'Amount deductible under provisions of chapter VI-A under associated Salary Details-Chapter VIA Detail'" typically indicates a discrepancy in the computation of total taxable income in your Correction RPU for Form 24Q (Q4: 2019-20). Here’s how you can resolve this error:
### Understanding the Error:
1. **Components of the Error Message:** - **Total Taxable Income (355-366):** This refers to the total taxable income as per the details provided in the correction statement (RPU). - **Gross Total Income (338+352):** This represents the total income before deductions under Chapter VI-A (like Section 80C, 80D, etc.). - **Amount deductible under provisions of chapter VI-A under associated Salary Details-Chapter VIA Detail:** This refers to the deductions claimed under Chapter VI-A from the gross total income.
2. **Calculation Check:** - According to the error message, there seems to be a mismatch between the total taxable income calculated (as per fields 355-366) and the difference between gross total income and deductions under Chapter VI-A.
### Steps to Fix the Error:
1. **Review the Data Input:** - Open your Correction RPU file and carefully review the entries for fields related to total taxable income (355-366), gross total income (338+352), and deductions under Chapter VI-A. - Ensure that these fields are populated correctly and accurately reflect the figures as per the original TDS return and any amendments made.
2. **Recalculate Total Taxable Income:** - Recalculate the total taxable income based on the correct formula: Gross Total Income minus deductions under Chapter VI-A. - Verify that the computed total taxable income matches with the value entered in fields 355-366.
3. **Validate the Correction Statement:** - Use the validation feature within the RPU software to check for errors after making corrections. - Address any additional errors or warnings that may be identified during the validation process.
4. **Update and Resubmit:** - After successfully validating the correction statement without errors related to T-FV-4040, generate the corrected RPU file. - Upload the corrected RPU file to the TRACES portal or the Income Tax e-filing portal for submission.
5. **Monitor Submission Status:** - Monitor the status of your submission on the portal to ensure that the corrected RPU file is processed without any further errors.
### Additional Tips:
- **Documentation:** Keep a record of all steps taken to correct the error, including screenshots of the corrected entries and validation reports. - **Consultation:** If you continue to face difficulties or encounter specific issues during the correction process, consider seeking assistance from a tax professional or contacting the e-filing helpdesk for support.
By following these steps systematically and ensuring accuracy in data entry and validation, you should be able to resolve the T-FV-4040 error in your Correction RPU for Form 24Q (Q4: 2019-20) and successfully file your TDS return.
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