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Rectification u/s 154

Jacob B Fernandis (finance help) (28 Points)

03 October 2016

For the FY 2014-15 my income was Rs. 2 Lakhs but I have wrongly entered it as Rs. 20 Lakhs in my ITR 4. After submitting my return online and e-verifying, I noticed this mistake. I had filed my return on 31 July 2016 as belated return. Today I got intimation for income tax department u/s143(1) and demanding tax of Rs. 6 Lakh. Please guide me in detail how to make rectification u/s 154. which all option under the heading ‘Taxpayer is correcting the Data in Rectification’ is to be selected as it allows to select only 4 options. My income is from business and profession and no other income or deduction.

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8 Replies

CA Raj Doshi (Practising CA) (8944 Points)
Replied 04 October 2016

Revise your return rather than rectification.

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CA Harshal Totla (Chartered Accountant) (2229 Points)
Replied 04 October 2016

Belated return cannot be revised Raj.
Mr.Fernandis since there is a mistake apparent from records in rt he Return filed by you, you are eligible to file rectification request u/s 154.

CA Harshal Totla (Chartered Accountant) (2229 Points)
Replied 04 October 2016

you have to upload a fresh XML. However, in case, the rectification rights are transferred to AST then, you need to approach AO with rectification application on paper. For knowing whether the processed Income Tax Return is with CPC or AO, the taxpayer should LOGIN and GO TO ‘My Account → My Returns/Forms’ and check the status.

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Jacob B Fernandis (finance help) (28 Points)
Replied 04 October 2016

It is belated return filed after due date. so there is no option to revise return.

Jacob B Fernandis (finance help) (28 Points)
Replied 04 October 2016

sir can you share your contact number or email id. I am really worried. as due to clerical error i got demand to pay tax of Rs. 6 lakhs.

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CMA-FINAL (Adv.) (243 Points)
Replied 04 October 2016

Originally posted by : Jacob B Fernandis
	sir can you share your contact number or email id. I am really worried. as due to clerical error i got demand to pay tax of Rs. 6 lakhs.

Go to any leading tax practitioner in your city. It would be a better option. They will solve your problem easily. Do not worry too much. You do not become liable to pay any amount, just because you made an error.ok.

1 Like

CA Raj Doshi (Practising CA) (8944 Points)
Replied 04 October 2016

I overlooked the FY. sorry for the same. Please follow other advise by other fellow members

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Jacob B Fernandis (finance help) (28 Points)
Replied 18 October 2016

Sir I went to Delhi to consullt some CA. As I am from small town, here there are no experts to help. CA were asking for very high fees but my monthly income is RS 15000 only. I cannot pay there fees so they refused to help me.

"Rectification rights transfered to ATS" is the message.

Please help me regarding preaparing application and other documents. Please share your contact number if possible. Please send your contact number in message box. Please.