Rectification of return

Hi,

I have received an intimation u/s 143(1) wherein a demand of Rs. 4640 has been raised (for my father's return - Senior citizen).

I had paid the above mentioned amount as self assessment tax. However the same is not reflected in the intimation notice. On checking traces site, I can find the challan. How do I rectify this.

Also in the return I have not claimed deduction of Rs. 50000 towards sec. 80TTB. Can I rectify the same now. My tax liability would have been NIL if I had claimed this amount.

So effectively can I claim the 80TTB deduction and refund for self assessment tax paid erroneously paid.

Regards,

 

 

Replies (4)
Quick Summary
This discussion addresses how to rectify an income tax return after receiving an intimation under section 143(1) that doesn't reflect self-assessment tax paid. It also explores claiming a missed deduction under section 80TTB to potentially reduce tax liability to nil and secure a refund. The advice covers using the 'tax credit mismatch correction only' and 'return data correction' options on the income tax portal.

Do the rectification on income tax site
Rectification request intimation need to be sent to the
AO.
AFTER THAT RECTIFY RETURN AND REPROCESS.
UPLOAD IT AGAIN.

Hi,

Can you also clarify-

1. How come the self assessment tax paid by me is not reflected in the ITR computed by ITO in the 143(1) notice though the same is visible in TRACES.  What rectification should I do in "tax credit mismatch correction only" option.

2. Can I also do "return data correction" for considering 80TTB deduction and claiming refund of self assessment tax wrongly paid.

 

Guys,

Request your help.

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