Defective return notice for FY23-24

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This discussion addresses a defective return notice for FY23-24 concerning the declaration of rental income. The recommended solution is to declare the rental income under the 'IFHP' (Income from House Property) schedule. It's noted that this is the only way to declare rental income where TDS under Section 194I has been deducted, until the department provides an amendment. Checking the 'source of income' option in Schedule TDS2 against the TDS entry may also offer a way to rectify the issue.

Chahat Khanna

Chahat Khanna (Querist)

22 July 2024 Resolved and deleted.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

22 July 2024 File ITR 2 & declare the rental income under head IF HP.

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Chahat Khanna

Chahat Khanna (Querist)

22 July 2024 Resolved and deleted.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

22 July 2024 The name of the schedule is IFHP. But for declaring rental income on which TDS u/s. 194I(a)/(b) are deducted can only be declare under this schedule. The defect can be removed only by declaring the rental income in IFHP, till department makes any amendment.

Chahat Khanna

Chahat Khanna (Querist)

22 July 2024 Resolved and deleted.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

22 July 2024 Yes, you are right, but the department analyses it as per IT software developed by non financial professionals. Check if you can change the option of 'source of income' in Schedule TDS2 against the TDS entry. If yes, you can go ahead.

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