I got the defective notice from the income tax department however, I'm unable to figure out what is wrong with the return. The defective notice has the following wording:
| The gross receipts shown in Form 26AS, on which credit for TDS has been claimed, are higher than the total of the receipts shown under all heads of income, in the return of income. Thus, while credit for TDS is being claimed, the corresponding receipts are not offered in the respective income schedules, to arrive at the taxable total income. Hence, the return of income filed is regarded as defective, as provided in Explanation (a) under section 139(9). |
I have checked the entries in the form 26AS. It has only 3 entries:
1. Interest from income tax refund - 170 ( TDS 53)
2. Interest from savings account - 1217 (TDS 380)
3. Short term capital gains from debt mutual fund - 111894 (TDS 34911)
I have filled the ITR by adding all the above entries along with additional interest income on which TDS was not deducted. The aggregate income in ITR is shown as 114280 which is higher than the sum of all entries in the 26AS but I still keep getting the defective return notice.
Any suggestions on what might be wrong with my return? or if I'm missing something else?
CAclubindia
