ITR can revised ay 2021-22

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A client initially denied a TDS entry on their ITR-1 for AY 2021-22, leading to a grievance. However, they have now accepted the entry relates to them. The Income Tax Department has queried the deductor about this entry, prompting the client to consider revising their return. As the deadline for revised returns has passed, filing an updated return under Section 139(8A) is the recommended course of action to declare the income and claim the TDS, though potential interest and penalty implications need to be considered.

VIKAS KUMAR SHARMA

VIKAS KUMAR SHARMA (Querist)
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01 August 2022 Sir,
one of my client filed ITR 1 for ay 2021-22(income Rs 3.40 lac only) with in due date, their was a TDS entry US 194H(Rs 15K TDS Rs 750) which was denied by my client, so I filed grievances request to rectify my 26AS
Now few days ago AO ask that party for above entry in 26AS and my client ask me to rectify because that entry was related to him
Now please suggest how to take correct action
regards
Vikas

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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01 August 2022 File updated return u/s. 139(8) of IT act, with interest and penalty.

VIKAS KUMAR SHARMA

VIKAS KUMAR SHARMA (Querist)
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01 August 2022 Sir,
Gross Income was Rs 3,40,000(ITR 1) only as per ay 2021-22. Is their interest and penalty applicable?
Is it safe to file return(as per my client side)?
regards

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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01 August 2022 As the income with TDS was not declared under original return, it is safer to declare the income now. But I doubt whether there will be any tax liability. If no, you are safe, but return may not be uploaded.

VIKAS KUMAR SHARMA

VIKAS KUMAR SHARMA (Querist)
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01 August 2022 thanks you prompt reply ALWAYS
what means that return may not be uploaded????
already declared that TDS entry shown 26AS not belongs to me, is it safe to file revised return US 139(8) as per your kind advise?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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01 August 2022 In your query in the beginning, you accepted that the client has accepted the TDS related to him, and ITO has directed to declare it in his income.
If it doesn't belong to him, file feedback in AIS against the entry. No need to file return in that case.

VIKAS KUMAR SHARMA

VIKAS KUMAR SHARMA (Querist)
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01 August 2022 you're right sir my client has accepted now that entry related to him but last year he denied and on his behalf I filed grievance against the entry and didn't claim TDS(Rs 750) nor show income US 194H
now the DEDUCTOR ask him to revised return because AO ask the DEDUCTOR FOR above said entry
now my question is should we file revised return? my client is safe if file return? any penalty or fee chargable?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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01 August 2022 The date to revise the return for 2021-22 is over, that is to safeguard him file updated return u/s. 139(8A).

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