How to adjust one rupee difference while e-filing?

U CAN SENT YOUR ITR-V TO CPC BANGLORE , PLASE GO THROUGH UNDER SUPPORTING SECTION OF INCOME TAX ACT 1961

INTIMATION U/S 143(1) OF THE INCOMETAX ACT:-

It is very positive step that income tax department to assess all income tax returns filed online quickly. After successful assessment of tax returns by income tax department, issues Intimation u/s 143(1). Normally these intimations will be received through email to the Email address provided in filing income tax returns online. This Intimation u/s 143(1) should be treated as completion of assessment income tax returns for the year unless there is tax due from the tax payer.

We treat this as Intimation of completion of assessment of income tax returns, Intimation of Income tax refund in case refund is due from income tax, India. If net taxable income is more than total tax paid, this Intimation u/s 143(1) will be treated as demand notice for payment of income tax due to income tax department.

We have to interpret the Intimation u/s 143(1) as follows:-

1. If “NET AMOUNT REFUNDABLE” mentioned in Intimation u/s 143(1) letter more than Rs 100, there is a tax refund due from income tax department to tax payer. Refunds amounting less than Rs 100 won’t be refunded. You can check refund status online https://tin.tin.nsdl.com/oltas/refundstatuslogin.html
2. If “NET AMOUNT DEMAND” mentioned in Intimation u/s 143(1) letter more than Rs 100, there is tax amount due from tax payer. This will be treated as demand notice for the payment of income tax due. This Intimation letter encloses challan form to pay income tax if the due is more than Rs 100.

If “NET AMOUNT REFUNDABLE /NET AMOUNT DEMAND” is less than Rs 100, you can treat this Intimation u/s 143(1) as completion of income tax returns assessment under Income Tax Act. It can be useful for the proof of Income/ Completion of income tax returns assessment.

Thanks for your reply Parihar..

I have one doubt.. I rounded off the Income From Salary from say 7,89,892 to 7,89,890. Because of this, now the Tax on income is coming same as what is there on my Form 16. Thus, I filed as Income Tax Status as NIL. My only doubt now is as I have changed 'Income from Salary' from 7,89,892 to 7,89,890, will my return be accepted or they can reject because I changed this figure. In TDS worksheet of ITR1, I am still showing Income From Salary as 7,89,892, but, for calculation I changed it to 7,89,890.

Thanks,

Ashish

u can round off ur income nearest mutiple of 10 eg if  your income is  789892 or upto 789895 u can show ur income 789890 & if it  is 789896 u must have to show it 789900

 Parihar.. can u pls review below and advise if it is correct?

 Income from Salary is 789,892. Thus, total income was coming as Total Income (4 - 6) = 669,892. I wanted to round off Total income to nearest multiple of 10, but, since the cell is protected, I rounded off first row i.e. Income from Salary to 789,890. Is this correct? I already submitted the return electronically. Only thing pending is to send ITR V to CPC. Waiting for your valuable assistance.. 

u have done round off income as per u/s 288A , so there is no problem in sending ITR-V ,

sir,

on filing online, due to rounding off of net taxable income from 573536 to 573540, my tax payable as per form 16 is 48109, but in the it return excel software it is coming to 48108, i.e : 1 rupee more have been deducted. although it does not matter to me, how do i adjust the 1 rupee in it return?do i need to at all?,

also should i fill Tax status as nil tax balance or refundable? i would prefer it as nil tax balance, can i select nil tax balance with the 1 rupee diff? i do not need refund.

please guide

thanks and regards

pd