Tds refund
This query is : Resolved
23 June 2014
All incomes showed are
correct in original return filed .As per
original return total income is 197849
Rs..including income from other
sources Rs 70790. Deduction u/s 80C
is 39773 Rs.So Income after
deduction is 158076 Rs.....TDS for
year 9320 Rs
So i filed return with refund for rs
9320.
But income calculated as per
intimation u/s 143(1) not allow
depreciation 81494 Rs for year, so
income after 80C deduction increased
to Rs 239570 & tax is charged on
same income. So refund is
correct in original return filed .As per
original return total income is 197849
Rs..including income from other
sources Rs 70790. Deduction u/s 80C
is 39773 Rs.So Income after
deduction is 158076 Rs.....TDS for
year 9320 Rs
So i filed return with refund for rs
9320.
But income calculated as per
intimation u/s 143(1) not allow
depreciation 81494 Rs for year, so
income after 80C deduction increased
to Rs 239570 & tax is charged on
same income. So refund is
23 June 2014
You can file rectification u/s 154 and claim depreciation.
Message likes :
1 times
24 June 2014
you have not mention the business income it may possible that you wrongly claim the deprecation in means of assets or rate of depreciation .
pls check if your claim is correct then you can claim rectification .
pls check if your claim is correct then you can claim rectification .
25 June 2014
Deepti mam while filing rectification u/s 154 which option selected?? 1 or 2 ??
1)Taxpayer is correcting data in rectification
2)No further data correction required reprocess the case
1)Taxpayer is correcting data in rectification
2)No further data correction required reprocess the case
25 June 2014
Rupesh sir,
depreciation is on machinery and rate of dep.taken 15%.
so there is nothing wrong in asset type or rate of depreciation
depreciation is on machinery and rate of dep.taken 15%.
so there is nothing wrong in asset type or rate of depreciation
25 June 2014
first of all you should check your return. whether amount of depreciation show in depreciation chart or not. may be possible you selected wrong group or rate in the return. Then rectification file.
25 June 2014
Deepti mam ,
All the information are correct as per original filed return.Group for assets & rate of depreciation is also correct.so there is no need to change data in return..It is income tax department who not allow depreciation while computing income from business.
So which option is selected while filing rectification
1)Taxpayer is correcting data in rectification
2)no further data correction required reprocess case
Which one ?? option 1 or 2 ??
All the information are correct as per original filed return.Group for assets & rate of depreciation is also correct.so there is no need to change data in return..It is income tax department who not allow depreciation while computing income from business.
So which option is selected while filing rectification
1)Taxpayer is correcting data in rectification
2)no further data correction required reprocess case
Which one ?? option 1 or 2 ??
25 June 2014
If you have no correction in your return then you can file rectification with 2. option
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