Clarification on it notice received under section 143(1)(a)

Hi All,

I have received a notice from the IT department for the tax filing done for AY 2017-18. Please find below details regarding the same, grateful if someone could provide some clarification:

As per the notice, I have shown a gross taxable income of Rs. 15,48,860/- (which includes Salary portion of Rs. 15,45,125/- and savings a/c interest of Rs. 3,735/-) in my ITR whereas it says the gross taxable income as per the Form 16/Form 26AS is Rs. 15,58,959/- which amounts to a difference of Rs. 10,099/- (this is basically the PPF interest which I have received for FY16-17).

Similarly, it says that I have shown an taxable total income of Rs. 12,75,980/- in my ITR whereas it says the taxable total income as per the Form 16/Form 26AS is Rs 12,89,816/- which amounts to a difference of Rs. 13,836/- (basically this the sum of the PPF interest and the savings a/c interest).

As per my understanding, both these interests are tax exempt under Section 10 (12) (for PPF interest) and Section 80TTA (for savings a/c interest which is basically exempt up to Rs. 10,000). Kindly let me know if this is not the case.

Grateful if you could guide me on the respective items to be filled in each of the fields of the attached snapshot from the e-Assessment/Proceedings section of the IT department website. Also, kindly let me know in case any additional details are required from my side.

Many thanks in advance!


Attached File : 2077181 20170810213226 it e assessment snapshot.jpg downloaded: 156 times
Replies (2)

Disagree to the addition and provide the suitable reply.

First of all you have given incoreect information to your employer regarding other income.

PPF income should be mentioned in exempt income.

For your kind information the savings interest is not exempt  under 80TTA. you have to take the savings bank interest on income side in "income from other sources" then u/s  80TTA you get deduction upto 10000. In this case since interest is less than 10k it may appear as exempt. 

Get your form 16 corrected first. In the mean while you can decline.

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