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Som (Article Assistant)     03 October 2020

Query relating to ITR 1 And Form 16

My father is a senior citizen . He is a former bank employee and a pensioner . My father has invested Rs. 150000 in Public providend Fund . He has given the right declaration to the bank authority but mistakenly in Form 16 it is showing as Rs. 45000 as deduction u/s 80c . Now my question is Can he file ITR 1 without revision of Form 16 and claim a deduction of Rs 150000 as deduction u/s 80c ? Can that ITR 1 be accepted by the income tax department ? Can that return be processed and get his refund for which he is eligible ? Or He has to revise his form 16 first and then file his ITR 1?

 3 Replies

Santosh Hegde

Santosh Hegde   03 October 2020

He can claim 1.5 lac deduction in ITR under sec 80C but he should be having valid proof for that.If you want to file the return please contact.

Jayendra (student)     03 October 2020

File ITR without worries. :)
Sagar Patel

Sagar Patel (Tax and Business Consultant)     04 October 2020

Don't worry at all...
You file your ITR correctly, claim Deduction of 1,50,000 (it doesn't matter whether its shown in form 16 or not, if you invested than you are eligible) u/s 80C... Your return will processed normally and you will definitely get refund as per your ITR.

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