How to correct a form 15h that has been submitted already?

I have submitted for 15H this year as my income was below the 2.5L limit. However, it was recently pointed out to me that I might have made an error in my calculations. Basically, I did not incorporate "ACCRUED INTEREST"m in my calculations. My net income in Form 15H is shown as 2.43L..however, with the ACCRUED interest, it is likely to jump to 2.56L.

I am uncertain how to handle this. Is there still an option for me to do a correction / rectification of my 15H? I am concerned that ITO might flag me for incorrect submiission subject to penal consequences.

 

i request the forum members to kindly guide me here. You help is much appreciated.

 

Thank you.

Replies (3)

Dear Mr Tiwari,

 

Need not to worry. Your intention is to pay taxes honestly so you will pay. Income Tax department is to collect legitmate tax. Once you pay the taxes in time and correctly the issue would automatically would be over.

However, you can make a written or verbal request to withdraw form 15H.

 

contact @ vkbajaj.co.in

Thank you Dear Mr. V K Bajaj.

Sir, can you also please advise as to how I can submit the request to withdraw 15H? I did not see any relevant steps/forms on the Income Tax site.

My sincerest thanks for your help.

Need not to worry about 15H, it is just income estimates at the start of the year.. so it may change as year process.

You just have to pay income tax as per calculation thats all.

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