Rectification u/s 154

249 views 8 replies

Jacob B Fernandis

finance help

28 Points Joined August 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.

Replies (8)

CA Raj Doshi

Practising CA

8944 Points Joined December 2013

Revise your return rather than rectification.

CA Harshal Totla

Chartered Accountant

2229 Points Joined May 2014

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 Joined May 2014

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.

Jacob B Fernandis

finance help

28 Points Joined August 2016

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

Jacob B Fernandis

finance help

28 Points Joined August 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.

CMA-FINAL

Adv.

243 Points Joined September 2014

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.

CA Raj Doshi

Practising CA

8944 Points Joined December 2013

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

Jacob B Fernandis

finance help

28 Points Joined August 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.