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Confusion relating to itr 1 - ay 2019-20


Som (Article Assistant)     18 July 2019

Som
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I am facing  another problem . While filling an IT return i have taken pension  u/s 17(1) one rupee more than pension  given in form 16 by mistake . I have taken my pension as 349235 in Itr but given in form 16 as 349234 . In tds details I have given pension amount as 349234 and tds is 0 . After filling of return there is no tax credit mismatch that I can ensure . Taxpayer is eligible for refund .My only question is wheather that excess one rupee given by me as salary u/s 17(1)  in the ITR will be a reason for an IT notice u/s 143(1)(a) or it will be proceessed smoothly ? Some of my friends are telling that upto 100 rupees variance is acceptable . I am confused . Please help me .

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Dhirajlal Rambhia (KVO Merau Kutchh)     18 July 2019

Dhirajlal Rambhia
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No problem when assessed income is in excess.......

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J S BHAVSAR (CONSULTING)     18 July 2019

J S BHAVSAR
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Only once six years back I had this 1 rupee extra problem arising in ITR processing by CPC. No action was required.

Once there was some Rs 70 or something and I paid and messed up. I called the helpline. They informed me that when tax demand is less than Rs 100, one has to ignore the same and the same will get adjusted in future years. They had said that tax payable Amounts more than Rs 100 require immediate attention by taxpayer.

Som (Article Assistant)     18 July 2019

Som
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Thank you Mr. Dhirajlal Rambhia And Mr. J.S.Bhavsar  for your valuable reply.  Only one question to Mr . J.S.Bhavsar  wheather any short demand of fine can be ordered by the department for that one rupee problem ?

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J S BHAVSAR (CONSULTING)     18 July 2019

J S BHAVSAR
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Originally posted by : Som
Thank you Mr. Dhirajlal Rambhia And Mr. J.S.Bhavsar  for your valuable reply.  Only one question to Mr . J.S.Bhavsar  wheather any short demand of fine can be ordered by the department for that one rupee problem ?

Not that I am aware of. Because if your taxes are paid and in order till the income upto the actual income, the extra one rupee will carry a demand only 30 paise maximum which will not result into anything as taxes are rounded off upto nearest 10.

Mehul porwal   18 July 2019

Mehul porwal

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Tax demands vide notice u/s 143(1) upto Rs.100 is to be ignored. There will not be any further action by department.

Som (Article Assistant)     19 July 2019

Som
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Thanks to all of you . Your comments are really very helpful for me . Only one final question that is while assessing my return u/s 143(1) , which amount of pension the assessing officer will take , 349234 as per form 16 or as shown by me in the IT return 349235  ?


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