Rectification u/s-154
This query is : Resolved
18 December 2015
Respected Sir / Madam, I really will be very very thankful if you could help me on this issue.
An assessee, being a senior citizen, has filed his "NIL" income tax return electronically for the A.Y. 2014-15 on November, 2015 u/s-139(4), i.e., it's a belated return. While filing his ITR, he forgot to verify Form 26AS. But TDS has been deducted on Interest on Bank FD u/s-194A instead of submitting Form 15H with the respective bank. Now, Intimation u/s-143(1) has been emailed to the assessee in which there is neither any demand nor any refund, which is very surprising as TDS as per Form 26AS has not been considered. My queries are as follows:
(1) How it's possible as CPC has computerized system which tracks all through PAN numbers?
(2) Revised return u/s-139(5) can be filed if there is any mistake from assessee's side while Rectification u/s-154 can be filed if there is any mistake from Department's side apparent from record. But in this case there is a mistake from both sides. Hence, since belated return cannot be revised u/s-139(5) but is it possible to file Rectification u/s-154?
(3) In case TDS amount were correctly considered in Intimation u/s-143(1) then also we will be able to file Rectification u/s-154?
(4) If rectification u/s-154 is possible, then which one of the options to choose ‘Taxpayer Correcting Data for Tax Credit mismatch only’ OR ‘Taxpayer is correcting the Data in Rectification’ OR ‘No further Data Correction required. Reprocess the case’?
An assessee, being a senior citizen, has filed his "NIL" income tax return electronically for the A.Y. 2014-15 on November, 2015 u/s-139(4), i.e., it's a belated return. While filing his ITR, he forgot to verify Form 26AS. But TDS has been deducted on Interest on Bank FD u/s-194A instead of submitting Form 15H with the respective bank. Now, Intimation u/s-143(1) has been emailed to the assessee in which there is neither any demand nor any refund, which is very surprising as TDS as per Form 26AS has not been considered. My queries are as follows:
(1) How it's possible as CPC has computerized system which tracks all through PAN numbers?
(2) Revised return u/s-139(5) can be filed if there is any mistake from assessee's side while Rectification u/s-154 can be filed if there is any mistake from Department's side apparent from record. But in this case there is a mistake from both sides. Hence, since belated return cannot be revised u/s-139(5) but is it possible to file Rectification u/s-154?
(3) In case TDS amount were correctly considered in Intimation u/s-143(1) then also we will be able to file Rectification u/s-154?
(4) If rectification u/s-154 is possible, then which one of the options to choose ‘Taxpayer Correcting Data for Tax Credit mismatch only’ OR ‘Taxpayer is correcting the Data in Rectification’ OR ‘No further Data Correction required. Reprocess the case’?
Nikhil Kaushik
(Expert)
18 December 2015
just reprocess the case with "taxpayer correcting the tax credit mismatch only"
Message likes :
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18 December 2015
Ok nikhil ji..u meant to say to file rectification by selecting the option you mentioned? Then there is no need to upload the revised .xml file??
Nikhil Kaushik
(Expert)
18 December 2015
absolutely. no rectification xml required.......
Message likes :
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18 December 2015
ok nikhil ji..I got my answers for question 2 & 4 but if u r not busy enough, can you answer my question 1 & 3 too??
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