Regarding intimation u/s 143(1) from income tax

First you should read the section 80G and then under stand it and then consider your eligibilty.  under section 80G there is three types of eligibilities.

1) 100% deduction with out maximum limit

2) 50% deduction with out maximum limit

3) a) 100% deduction with maximum limit

     b) 50% deduction with maximum limit

            I am thinking CPC process your assessment your eligibility is according to the 3)a) eligibility above. So first under stand the section 80G if you satisfied then okay otherwise if you feels it comes under first eligibilty then with explanation file 154 rectification.   If you understanded the section 80G and confirmed your eligibility then okay other wise Please provide Your income, deductions and donation made details like to whom and what amount etc....

OM SAI SRI SAI JAI JAIS AI

Hi Srikanth,

I agree with Dintakurthi. Only thing which i want to further add is check whether your deduction is subject to maximum limit. Maximum limit is 10% of gross total income (GTI). So if your 10% of GTI is 26,864 than income tax department would have restricted the deduction to that much amount.

If u can share the amount of your gross total income than we can reply why is it so?? i agree it must be tht ur GTI wud be around Rs.268640 or something..!!!

Hi All,

I have filed an ITR4 online on 1/10/2012.The due date of it to be filed was 31/7/2012(got extended to 30/8/2012). While filling the ITR I have selected the due date of filing of itr as 30/9/2012 instead of 30/8/2012.What is the remedy available?Can one apply for rectification without receipt of intimation?

Hi All,

Thanks for the reply's.

My Gross Total Income is 5,57,842. Even if i take 10% of gross income, it would be 55784.

Please advice.

Thanks,
Srikanth

50% of (10% or gross income) is considered by Incometax. subject to some +/- calculations , pls refer your admitted Gross income by incometax.  

Mr. Srikanth Please reply what is your net total income after adjustment of chapter VIA except 80G exemption.  The limit for 80G will consider based on such net total income not on gross total income.

OM SAI SRI SAI JAI JAI SAI

If such total income is Rs.268640 or nearest to it then your maximum eligibilty u/s 80G is Rs.26864 only. In case it is more than such above income or you feeling and confirming such donations comes under 1 cotogery above i said in my first reply then file 154 rectification by indicating the details of donation etc..

OM SAI SRI SAI JAI JAI SAI

Hi Dintakurthi,

Thanks for the reply...

Total Deductions under chapter VIA is declared as 53,065(80C - 20,565, 80G - 32,500) in ITVR, However the same is computed as 47,429(80C - 20,565, 80G - 26,864) under the column 'As Computed Under Section 143(1)'.

Total income after deductions is declared as Rs 5,04,780 in ITVR, and the same has been changed to Rs 5,10,410 under the column 'As Computed Under Section 143(1)'

Total Income Tax Liability is 33,945 as per ITVR and the same is computed as 35,104 under the column 'As Computed Under Section 143(1)'.

Hence the refund amount of 6,700 declared in ITVR is reduced to 5,536 under the column 'As Computed Under Section 143(1)'.

Please let me know if you need any additional details. Thanks in advace.

Regards,

Srikanth

Hai srikanth i will reply you shortly. Now just i am littile bit work and busy. So i will reply you after noon.

         Thank you.

OM SAI SRI SAI JAI JAI SAI

Mr.Srikanth section 80G is very critical section it is very confuising to understand so i don't want to explain you every thing because it may confisue you and you can't under stand by messaging i.e with out oral explanation.  So first please provide me to which you make the donation on that i will explain you what is the CPC computation is the CPC correct or wrong. At srtight way CPC is correct but not confirm with out knowing about the donation made.  So confirm me to whom donation made.

OM SAI SRI SAI JAI JAI SAI

Hi Dintakurthi

I have donated to Rs : 23500 to Shirdi Sai Trust and Rs : 9000 to world vision india. Thanks.

Regards,
Srikanth

Then in both the cases you will eligible to 50% of such donation only i.e you will eligible for Rs.16250. They are not eligible for 100% deduction. But you get the eligibility of Rs.26864 i.e Rs.10514 excees deduction claimed. So better to keep quite if you go for any furture action you will loos such benefit also. However CPC computation is also correct. But your assumption is wrong i.e 100% deduction eligibility is wrong. So forget about this. Are satisfied okay otherwise call me: 08985063892.

OM SAI SRI SAI JAI JAI SAI