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ITR rectification due to revised Form 16 by Employer

ITR Filing 332 views 9 replies

Hi ,

 

I got Form 16 by end of July and i filed ITR and got refund by 1st week of Aug.

Now my employer gave revised form 16 with revised total income during 19th Aug which was including ESOP.

I need guidance on how to rectify old Efiling and do new Efiling with New form 16.

Regards

Suresh R

 

Replies (9)
File Revised return
Pay tax on ESOP and file return u/s 139(5)
TDS was already deducted, that's the reason of revised Form 16

Thanks. Due to wrong declaration of income under original form 16, i got refund during last week based on original form 16 . Now revised form 16 released today with correct ESOP and income in form 16 is trippled.i think i need to return or pay back refund which I claimed based on old form 16. So can I proceed with revised e-file?

Yes proceed and pay balance tax and refund received
How will one proceed by filing revised return? need to file itr U
AY-2022-23 , you can go by revised

ESOP is taxable under salary (perquisite) and no question of refund.

Benefit of cost can be claimed at the time of sale of shares..

ITR-U filed if due date for filing belated return over i.e. 31 December. Till then you can file revised return.


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