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Variance, As Computed U/S. 143(1)

22 July 2018

Respected Sir,
I submitted Rectification Request U/s.154 for Self Assessment Tax which I did not get credit Rs.500/-On E-filing Portal under Tax Credit Mismatch. CPC allowed the credit but once again increase the Demand, Disallowing Deductions under Chapter-VI-A , On 80TTA Savings Bank Interest which is Rs, 10,000/- and Demanding Tax +Edu+Cess, Total Rs.3110/-

My question are how many times can I Rectify my ITR Return?.
I need to submit any attachments or documents to CPC?.
I filing ITR-2 as Status ,Individual and also filing ITR-2 as Karta of HUF.
My Tax Rate is above 30% as Individual.
HUF is below Taxable Limits.
Order Date is 11July, 2018 received date in E-mail is 18th July, 2018.Assessment Year is 2017-18.
hope early reply.
Thanks.

Dhirajlal Rambhia Sir,
I need your help.

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15 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (166722 Points)
Replied 22 July 2018

"Disallowing Deductions under Chapter-VI-A , On 80TTA Savings Bank Interest which is Rs, 10,000/- and Demanding Tax +Edu+Cess, Total Rs.3110/-"

Are you sure the disallowance is improper?

Because some clues lies in..

"I filing ITR-2 as Status ,Individual and also filing ITR-2 as Karta of HUF. My Tax Rate is above 30% as Individual. HUF is below Taxable Limits."

Do remember PAN of HUF and Individual are different, which segregate their total assets & liabilities..... even interest of both the savings accounts... as totally different indentity.....

Confirm the details...

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sukumar ghosh (109 Points)
Replied 22 July 2018

Dear Sir,

Q: Are you sure the disallowance is improper?

Ans: Yes it is improper.

Q2: PAN of HUF and Individual, Bank and assets &liabilities... even interest of both the Savings accounts...as totally different identity?.

Ans: HUF' PAN is different.
Individual'PAN is different.
Both the HUF and Individual are maintaining separate Balance sheet,assets & liabilities and separate Savings Bank account there are no connection with each others. HUF and Individual are different identity..
Thanks

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (166722 Points)
Replied 22 July 2018

Why the deduction u/s. 80TTA disallowed, then?

Whether the sum was offered to tax under head IFOS? (in individual's file)

sukumar ghosh (109 Points)
Replied 23 July 2018

Dear Sir,
See the Reasons.

Reasons for Rectification

As seen from the processing the E-FILING Return of Income, Filed by the Assessee, There is no VARIANCE in the Gross Tax liability between the "As entered" and the "As computed" values.However, on processing the E-FILed Rectification Request submitted by the Assessee, there is a VARIANCE in the Gross Tax Liability, between the "As entered" and "As computed" values. In the Rectification Request, the Assessee has entered/modified the various schedules pertaining to Income under the different heads, Salary/House property/Business/Capital Gains /Other Sources. The system has now Re-computed the Income under each head, from the respective schedules and conputed the total Income, In sch, PART B-TI, after considering the Deduction under Chapter-VI-A, As entered in the schedules, such as 80G/ 80IA/80IB/ 80IC/Chapter-VI-A, the claim of Set off of Loss has also been considered from the details of the same entered in sch, PART B-TI/CYLA /BFLA/CFL and accordingly computed Tax on the same. Hence ,there is a VARIANCE in the Gross Tax Liability, in the Rectification Request. In Case, the Assessee desires Rectification of the mistake, pertaining to computation of Income in this Rectification, The Assessee is required to once again file an Online Rectification Request, after Logging, The Taxpayer is correcting the DATA in Rectification. Under the Rectification Request Type.The Assessee should then tick the Appropriate Box therein, for selecting the Rectification Reason, and then upload the Rectification XML. After making the necessary corrections in the requisite schedules.

Whether the sum was offered to tax under the head IFOS? (in individual's file)

The answer is YES. It was offered to tax under the head IFOS. Individual's file.

Thanks

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (166722 Points)
Replied 23 July 2018

As far as your computation of income is concern, recheck the data as per different heads of income and deductions claimed against the income/s.

As per the letter from CPC, it seems there was some mistake in rectification applied before. The letter itself suggests for application of rectification, if you find there was any mistake that needs to be rectified.

Yes, you can apply for rectification of any apparent mistake on records. No issue.

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sukumar ghosh (109 Points)
Replied 23 July 2018

Dear Sir,
I need to submit Savings Bank Interests Certificate for claiming 80TTA Deductions under Chapter-VI-A?.
Thanks

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (166722 Points)
Replied 23 July 2018

Even pass book entries or bank statement clarifying the interest received during the year is enough.

sukumar ghosh (109 Points)
Replied 23 July 2018

Dear Sir,

There is any time Limits for applying Rectification Request ?.

Order Date is 11th July,2018 and received date in E-mail is 18th July,2018.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (166722 Points)
Replied 23 July 2018

As such it is 4 years under act........

But in your case, it is advised to reply within 30 days, as otherwise present intimation will get confirmed. And outstanding demand will be raised.

sukumar ghosh (109 Points)
Replied 24 July 2018

Dear Sir,

Can I download the ITR-2, Assessment Year 2017-18 which I already submitted the Original Return from the Income Tax website after making the necessary corrections then generate XML and Upload.

Or download a new one ITR-2 from the portal and input all the Data then generate the XML after that Upload the XML File.

Which one is work better for me?.

Thanks,

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (166722 Points)
Replied 24 July 2018

For rectification u/s. 154, you can apply online without any upload of ITR.

But before that check if any complience/e-assessment is raised/open (u/s 143/1/a) in your e-filling account, just reply that.

sukumar ghosh (109 Points)
Replied 25 July 2018

Dear Sir,

Reasons for Rectification the is clearly written,
In case, the Assessee desires Rectification of the mistake, pertaining to computation of Income in this Rectification, the Assessee is required to Once again file an Online Rectification Request, After Logging in at WWW.inconetaxindiaefiling.gov.in,By opening the MY ACCOUNT TAB therein and selecting the TAXPAYER is correcting the DATA in Rectification., under the Rectification Request Type. The Assessee should then TICK the Appropriate Box therein, for selecting the Rectification Reason, and then UPLOAD the Rectification XML.After making the necessary corrections in the requisite schedules.

No compliance/e-assessment record has been generated for me(u/s 143/I/a) or any. Nothing is there.