Rectification u/s 154

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Rishabh Saxena (Querist)
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05 April 2016 An assessee filed his ROI for the AY 2014-15 before due date claiming deduction u/s 80G for donation paid to a trust. Now on 04/04/2016 he has come to know that trust to which donation was paid is not eligible institution. Thus deduction claimed u/s 80G is not right. now what is the remedy available to the assessee? Time limit for revision has elapsed. can he rectify u/s 154?

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CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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05 April 2016 Yes he can seek rectification u/s 154.

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Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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05 April 2016 Yes, Pay your excess tax with interest and do rectification u/s 154.

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Rishabh Saxena

Rishabh Saxena (Querist)
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05 April 2016 in such a case will the taxes be paid as "self assessment"?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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05 April 2016 Yes pay it as self assessment.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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05 April 2016 Yes pay it as self assessment.

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Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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05 April 2016 yes, pay tax as self assessment if demand not raise by dept.

Rishabh Saxena

Rishabh Saxena (Querist)
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05 April 2016 while rectifying what should be the reason selected for rectification? It is asking for xml file as well. Which XML should be uploaded? Is there any form for filing rectified rerurn as well?

Rishabh Saxena

Rishabh Saxena (Querist)
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05 April 2016 Shall I update the new self assessment challan paid in the rectified return?

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