154 or revised return

455 views 2 replies

Friends

One of our employee filed a physical ITR for AY 12-13, FY 11-12. He claimed donation to Child Rights and You (CRY) @ 100% under 80G. The AO has issued an intimation under 143(1) disallowing the full donation.

We have observed that donation to CRY is entitled to 50% deduction under 80G. So it was an excess claim made in the ITR.

In the case at hand, should the individual file a 154 application or file a revised ITR after paying 50% of demand. I believe a revised ITR can be filed within 31st March 2014 even after an intimation under 143(1).

Regards,

Replies (2)

He may file rectification u/s 154 and show 50% deduction. 

But why has the IT disallowed full 100% when 50% is permissible??

Wait for more replies.

You can file the revised return by claiming the correct deduction and paying the balance amount alongwith interest..

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