Rectification

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This query is : Resolved

Mohit Mittal (Querist)

14 October 2011 Hello,
I filled ITR-1 with Minus sign against Income from house property. I wanted to take deduction for loan against let out property. Now,I have received the intimation u/s 143(1) for AY 2011-12 where 'home loan interest' is treated by the system as an Income rather than Loss from house property by omitting (-) minus sign, hence resulting in tax payable.

Now under rectification i guess i need to fill ITR-2 form. Pls confirm.

My query is
1) ITR-2 will be filled as original return or revised return?
2) While filling online, in 2011_ITR2_r12. xls file , in column "return filed under section" there are only six options: 139(1), 139(4), 142(1), 148, 153 and 139(5).
Which option should I select?

Thanks,
Mohit.

CA Ashwani Agarwal

CA Ashwani Agarwal (Expert)

14 October 2011 Dear Mohit,

There is no need to file a revised return as you have filed the correct particulars.

Rather you should submit an apllication u/s 154 to the ITO, to correct the mistake apparant from the record.

CA SUMiT PATWARi

CA SUMiT PATWARi (Expert)

14 October 2011 File an application with the A.O. describing your case.
You cannot file another return now.
The intimation u/s 143(1) is deemed letter of demand. So make an application in writing to A.O.

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