Intimation u/s 154 - tax reduced

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Manish

Engineer

30 Points Posted on 07 May 2020

I have got an email from income tax with subject: IntimationU/S 154 for AY:2019-20

And in the attached ITR-II rectified form, the below is mentioned:

Reasons for Rectification
Credit as per Form 26AS for self assessment tax paid by you and not claimed in Schedule IT/Tax payments till now is allowed in this order
and outstanding tax payable has consequently reduced.

Can anybody please tell what am I suppose to do? I checked the 26as, & only Rs. 6 shows in Total Tax deposited column.

Thank you.

Edit : I also noticed that the rectified PDF sent has 2 computation coloumns:

1)As Provided by Taxpayer in Return of
Income - in this Total tax paid is showing zero & so Amount payable is showing the aggerate liability figure.

2)As Computed Under
Section 154 - in this Total tax paid is showing the actual amount of tax already paid by me online. So Amount payable is showing zero.

Is it be because I did not put the total tax that I've already paid in my return? So do I need to fill it?

Replies (3)

Aashok Kumar Sharma

Finance/Compliance Consultant

61855 Points Posted on 08 May 2020

Https://www.incometaxindiaefiling.gov.in/eFiling/Portal/Demand_FAQ.pdf

Manish

Engineer

30 Points Posted on 08 May 2020

Thanks Asha Kanta Sharma. I have gone through many articles including the above link but still confused about the rectification.

I have more information. Actually, in the ITR i didn't mention the tax amount Rs. xxxxx that I have already paid online. Also the challan , bsr code etc. So my Total tax payable remained this same Rs.xxxxx despite it being already paid. It should have been zero.

So now when that information has been updated in 26AS so according to income tax Dept computation provided under section 154, Total tax payable is zero but my return is still showing payable RS.xxxxx & hence the discrepancy & that should be the meaning of "outstanding tax payable has consequently reduced", I suppose.

So, what am I suppose to do....under "RECTIFICATION" in the IT portal, shall I choose "Reprocess the return" OR shall I go for "Return data correction (XML)->Tax payments had not matched as per the CPC order" & reupload the XML with prepaid tax amount?

Thank you.