Return Revision - Rectification
This query is : Resolved
Quick Summary
15 January 2022
AY : 2020-21
An assessee had filed ITR with retirement benefits. The gratuity was wrongly shown as 32L in the ITR whereas the correct amount of gratuity was less than 20L and balance amount was commuted pension amount.
CPC- ITD had sent a communication regarding the proposed adjustment of taxing the extra amount of 12L but the assessee did not respond in due time. CPC-ITD has made the assessment with addition of 12L in total income and calculating the tax payable thereon.
How should assessee proceed in this case?
File a rectification return ? If yes then, how to file rectification return, as the rectification return filing facility is still not activated on tax portal.
If no, then please suggest how to move forward.
An assessee had filed ITR with retirement benefits. The gratuity was wrongly shown as 32L in the ITR whereas the correct amount of gratuity was less than 20L and balance amount was commuted pension amount.
CPC- ITD had sent a communication regarding the proposed adjustment of taxing the extra amount of 12L but the assessee did not respond in due time. CPC-ITD has made the assessment with addition of 12L in total income and calculating the tax payable thereon.
How should assessee proceed in this case?
File a rectification return ? If yes then, how to file rectification return, as the rectification return filing facility is still not activated on tax portal.
If no, then please suggest how to move forward.
15 January 2022
Rectification not possible in this case.
Any how try it when the portal allowes it.
Any how try it when the portal allowes it.
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15 January 2022
Respected sir, thanks for your reply. If not rectification, then what, file an appeal ?
15 January 2022
Appeal not possible as you committed mistake, any how try if 30 days time is available.
15 January 2022
so, what is the going to happen ultimately. Will the assessee have to pay the tax of around 3.5 L on wrong filing of ITR whereas all the retirement benefits are tax-free.
15 January 2022
Yes, you are right in view of revised return filing time limit is over.
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