Scrutiny
This query is : Resolved
07 November 2011
Hi friends,
One of our client filed income tax return with out claiming loss from House property, but the same is considered in the Form 16 and TDS was dedcuted.
Now In the Assessment The assessing officer is saying that as the loss is not claimed in the Return, this can not be considered and need to pay the balance tax.
Friends if you have any idea about this please reply ASAP
One of our client filed income tax return with out claiming loss from House property, but the same is considered in the Form 16 and TDS was dedcuted.
Now In the Assessment The assessing officer is saying that as the loss is not claimed in the Return, this can not be considered and need to pay the balance tax.
Friends if you have any idea about this please reply ASAP
07 November 2011
you shall revised the return u/s 139(5) earlier filled return u/s 139(1)...and shall disclose loss from house propery in revised return....it is your duty to claim loss in return
Message likes :
1 times
07 November 2011
Claim will not be considered if not supported by a properly filled in and verified return.
You have two choices now.
i) try revised return if the original is filed with in the due date and the assessment year is not barred by limitation.
ii) try revision, before the commissioner of income tax , after the completion of assessemt.
You have two choices now.
i) try revised return if the original is filed with in the due date and the assessment year is not barred by limitation.
ii) try revision, before the commissioner of income tax , after the completion of assessemt.
Message likes :
1 times
07 November 2011
It may be possible that you might have filed belated return and at this stage, it may not be possible to do so.
You may informally accept your mistake and
requestthe ITO to consider the loss also, as it is apparent from the records available to him.
He can arrive the Salary Amount by Form 16
only, where deduction U/s 24 has been show.
Even if he does not accept , it can be get rectified at a later stage also.
You may informally accept your mistake and
requestthe ITO to consider the loss also, as it is apparent from the records available to him.
He can arrive the Salary Amount by Form 16
only, where deduction U/s 24 has been show.
Even if he does not accept , it can be get rectified at a later stage also.
Message likes :
1 times
07 November 2011
Thank you sir,
But the thing is as it is for the A Y 2009-10 not able to file the revised return, by the time client comes to us it was beyond the due date.
But the thing is as it is for the A Y 2009-10 not able to file the revised return, by the time client comes to us it was beyond the due date.
07 November 2011
In this case, looking to the genuineness of the claim, ITO will allow the claim for loss as it directly emerges from the point, from where addition in income starts.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Stamp Paper for partnership firm change new income tax 2025
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- FORM 26A APPLICABILITY
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
