Hello,
Good Day!
Recently my husband received 143(1) intimation for tax payment of rs 75k approximately for the AY 2010 -2011. During the FY 2009-2010 he had worked in 2 companies and got 2 form 16.
The first companies form 16 has details for first 5 months of the FY; however the HRA is not considered for those 5 months. The second company's form 16 has all the details in place for 7 months of FY 2009-2010. He had purchased a property during that period and has a loan for the same. ITR had been filed just by referring the form 16 of both the companies; wherein it states the X amount as Tax that had been deducted at source and there no tax to be paid (without including the housing loan principle amount, interest paid, registration charges and the down payment made to purchase the property).
Last week we received an 143 (1) email from Assessment Officer intimating that the tax due for the FY 2009-2010 is 75k.
I'm seeking for your advise to resolve the issues.
1) Can the Omitted details be included in the rectification form u/s154? If so please advise as to how to go about it.
2) Advise on the categories under which the below needs to be furnished
a) housing loan principle amount
b) housing loan interest amount
c) registration charges
d) Down payment made to purchase the property
3) HRA for the initial 5 months has not been considered in the form 16 of the 1st company -for which the claim documents are not submitted as he moved to diff company for the second half of the year. Advise if that can be included now.
4) I'm bit confused in this - The Standard deduction amount is not shown in form 16 of both the companies. Do we have to include it separately while filing the return? If so can this be included in rectification u/s 154.
Thank you so much
CAclubindia
