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Sarun kumar.k.s (Chartered Accountant)     27 July 2018

Revised return and 87A Rebate

One of my friend filed ITR for the AY 17-18 before due date, but he failed to show income from bank interest ( TDS alredy deducted by bank). Now intimation u/s 143(1) received in which they added the above bank interest but not taken the TDS deducted by bank which leads tax demand.
THE ISSUE IS when i try to revise the return by prepare and submit online option
The 87A rebate coloum shows "0" Cant Input a value in that coloum.
the TDS deducted by bank automatically.
his total income after deduction 461920 (including bank interest)

143(1) intimation shows 87A rebate of Rs 5000, but while trying to file revised return the rebate colum shows "0" which leads tax demand..
please help with a solution

 8 Replies

prasad  Nilugal

prasad Nilugal (Sr . Accountant and GST Practitioner . )     27 July 2018

For  F.Y  2017-18   after  deduction  chapter VI-A  , if you taxable income is less  than  350000/-  then only  section 87A of the income tax act 1961 is applicable (rebate  of RS 2500/-under 87A)  . your amount  after  deductions 461920 /- . 

suresh kumar garg

suresh kumar garg (accountant)     27 July 2018

Sir, It is the case for F.year16-17 or A.year17-18.
Sarun kumar.k.s

Sarun kumar.k.s (Chartered Accountant)     27 July 2018

Sir its the case of FY 16-17
and if taxable income less than 5 lakh then rebate up to 5000
suresh kumar garg

suresh kumar garg (accountant)     27 July 2018

rebate should be acceptable.
Sarun kumar.k.s

Sarun kumar.k.s (Chartered Accountant)     27 July 2018

yes sir..
but how i file revised return.. when i try to file revised return rebate coloum showing zero value
Vaishali B Palande

Vaishali B Palande (senior acountant)     28 July 2018

please use old utility applicable for a.y 17-18

Deepak (na)     28 July 2018

U just call Income tax office helpline number, they will help u out. There is option of agree or disagree the demand. U can opt disagree and show the correct income and tds. The procedure is simple. They will help u.
Deepanshu Bansal

Deepanshu Bansal (Article Assistant)     21 August 2019

i want to know that rebate us 87a can be claimed for huf in the a.y. 2017-18?

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