RECFICATION UNDER SECTION 154 AND ITS REJECTION

Tax queries 311 views 4 replies

Krishan Kant

23 Points Posted on 01 February 2021

Dear Sir, I have filed rectification under section 154 several times but it is being rejected and claiming tax without considering TDs as per 26AS and TDS claimed as per ITR. everytime they send reply that "as seen from the return of Income filed for FY 2017*-18 have not admitted the complete receipts shown as per 26As. Hence, in accordance with Rule 37BA of the Income Tax Act, your TDS credit has been restricted to the corresponding receipts shown in the return of income.

I have submitted reconciliation between 26AS and Revenue as per Balance Sheet every time.

Please advise what should I do and how do I file the reconciliation and get my pending refund.

Replies (4)

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 01 February 2021

Check out the income you declared in your ITR , the reason being that you have not declared income as shown in Form 26AS

thorondor1990

3 Points Posted on 10 February 2021

I'm in the exact same situation for FY2017-18. Data in ITR and 26AS checks out, but getting rejections for revised returns and grievances.

Only place I suspect a mistake is the Schedule S for that year which looks weird and different from later years. In FY2017-18, they have asked for "Salary (Excluding all exempt/ non-exempt allowances, perquisites & profit in lieu of salary as they are shown separately below)" where I entered salary excluding perquisites minus allowance exempt u/s 10. Nowhere in the ITR utility have they calculated gross salary. But in the next year, they had added a non-modifiable column for "Gross salary"

If OP was able to resolve the problem, can you please post the steps you took?

K Kant

2 Points Posted on 10 February 2021

Dear Madam, since we are into service industry (tour and travel industry) and do not have our own products, the earning is our turnover actually, but tds is deducted by customer on invoice value in case of tour/package invoices as per income tax law.

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 11 February 2021

As the case is of technical glitches on portal, it is required to be check first before replying. Either to consult with some nearby CA or you can DM me.