26 July 2013
I have received intimation in April ’13 through income tax dept . under sec 143(1)stating outstanding tax demand of Rs 83870/= date of demand 20/3/2013 .I filed income tax return of the year 2010-2011 manually instead of e- filing .I could not show only bank interest income of F Rs 17340 /= in income tax return form while filing income tax return as per statement of form 26 AS . I am salaried employee and coming under the slab of 33% therefore taxable income of Rs 17340/ tax due will be 17340*0.33 = Rs 5722 /= .Here Our bank have already deducted TDS of Rs 2297/= and deposited to income tax dept during that year as per statement of 26 AS Sir Here query as follows 1 whether I can get 10000/= bank interest relaxation under section 80 TTA or not during financial year2010-11 . 2 how I can file correction income tax return and how much money I shall pay to income tax dept. 3 to whom I should contact whether directly to income tax dep. Or through accountant or tax lawyer thanks I shall be grateful to you sir
26 July 2013
1) 80TTA is available from FY 2012-13 so you can not claim it for FY 2010-11.
2) If you have file original return within due date u/s 139(1) then you can revise it u/s 139(5). If any error on part of IT Department you can file rectification request u/s 154.