Income under salary in tax details in itr-1

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Querist : Anonymous

Querist : Anonymous (Querist)

30 July 2017 Hi, by mistake I filled my gross salary in Income under Salary col3 in Tax details of ITR-1.. (This figure was coming by default)

But now I came to know that we should fill net income under Salaries (point 6 of our form 16).

There is a difference of 1.5 lakhs. Will there be any problem?

Ashiwini Ballodia

Ashiwini Ballodia (Expert)

30 July 2017 Revise youe IT return

vaibhav singhi

vaibhav singhi (Expert)

30 July 2017 Revise return u can do it till 31st march 2019

Querist : Anonymous

Querist : Anonymous (Querist)

30 July 2017 Thanks Ashwin Ji and Vaibhav Ji.

If I have that much time rectify my error, shall I wait IT dept to process my ITR and if it goes all well.. Then can I let it go.. And do not revise?

Sunil

Sunil (Expert)

30 July 2017 Better revise it. The CPC will assess exactly as what you have filed and you may suffer more tax. Suggest you revise

Querist : Anonymous

Querist : Anonymous (Querist)

31 July 2017 Thanks all for quick replies. I have revised my ITR.

Manian

Manian (Expert)

31 July 2017 I beg to differ. Under Tax Details in column 3, we have to fill Salary Income shown after deduction of exemption U/S.10 and Tax on employment, not adjusting deduction u/s. 80-C. The Income under column '3" should be more than twice of TDS deducted. This figure will not be taken for computation of tax. The Income shown under Salaries in Income statement alone will be taken for computation of tax. No need to revise it. Deduction U/S. 80C will be considered against total income including salary income but not salary income alone.

Manian

Manian (Expert)

31 July 2017 For Assessment Year-2017-18, the revised return will be accepted till March 2018 but not March 2019 as pointed out by one of the expert

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