Hi,
I had filed my tax returns before the deadline, and I seemed to have made an error, which resulted in me getting a notice u/s 139(9) yesterday. It mentioned that there was a matured mutual fund - this was mentioned in one part but not under the income part - this resulted in summarizing that I'm eligible for returns which actually wasn't the case. All the appropriate tax was cut under TDS - both for my salary and for my mutual fund.
In the notice I was asked to revise the returns with including the mutual fund under the income, but when I was trying to do so, I was getting interest components u/s 243B and 243C, both totaling to >40000/-. I read somewhere that corrections are possible without any penalty (in case of no dues I suppose) until a year after the returns deadline. When I already paid my applicable taxes, why am I getting the interest components?
Please help.
Thanks, Sasi.
CAclubindia
