I had deposited some cash in PPF account during FY 17-18 and declared the same as investment under 80(c) with my employer. However due to bank's mistake that amount was not deposited in my account. Although I have receipt with me. Now, they told me that it was deposited in account but in current FY. Now my declaration and actual investment doesn't match.
Should I file income tax return by claiming that amount in FY 17-18 or should I pay more tax to avoid any future problems?
Please help.
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Form 16 mismatch
Replies (6)
Where you have the receipt from bank dated before the financial year end, I would suggest you to claim the deduction. If the department sends notice to you then you have to upload the copy of that receipt to proof the matter.
Agree with Mr. Kundu
I have the receipt back dated. I want to avoid this notice and reply thing. That's why I wanted to pay more tax and file return. Till now, I have been filing my tax return by myself. But you guys are professionals. So please advise the best option.
Agree with Mr. A B Kundu. File ITR and claim that amount in FY 17-18. You have the receipt
The way the situation can be dealt that has been communicated to you, yes in that option you must be ready to counter the department's notice, if they send. But, obviously in that option your money will be saved. Now, it's fully your choice whether to claim deduction or not. But, we would suggest as you have the proof of depositing money in the bank before 31st march, you don't need to pay higher tax.
OK sir.... Thanks
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