Query related to Form 16 and ITR 1

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A pensioner mistakenly had only Rs 45,000 shown as an 80C deduction on their Form 16, despite investing Rs 1,50,000 in PPF. The query asks if they can file ITR 1 claiming the full Rs 1,50,000 deduction without revising Form 16, and if this would be accepted and processed by the Income Tax Department. The advice given is that filing ITR 1 with the correct claim is permissible and should be accepted, though future scrutiny might require documentary proof of the actual investment.

Som

Som (Querist)

03 October 2020 My father is a senior citizen . He is a former bank employee and a pensioner . My father has invested Rs. 150000 in Public providend Fund . He has given the right declaration to the bank authority but mistakenly in Form 16 it is showing as Rs. 45000 as deduction u/s 80c . Now my question is Can he file ITR 1 without revision of Form 16 and claim a deduction of Rs 150000 as deduction u/s 80c ? Can that ITR 1 be accepted by the income tax department ? Can that return be processed and get his refund for which he is eligible ? Or He has to revise his form 16 first and then file his ITR 1 ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

03 October 2020 Deduction of Rs 150000 as deduction u/s 80c allowed. He Can file ITR 1 and will be accepted by the income tax department and that return will be processed and get his refund.

Som

Som (Querist)

03 October 2020 Thank U Sir for Your valuable reply . My another question is whether there will be any future problem relating to this ITR like any notice or Scrutiny By Income Tax Department or not ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

03 October 2020 Srutiny by random selection will be made at time documentary proof of 80 c deduction may be asked. Claim only for actual investment made.

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