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Tax Payable queries

Ankur Jain (Student Others) (132 Points)

25 August 2021

Hi Team,

I have filed the income tax return for AY 2021-22(FY 2020-21) and my total tax liability is like 145614 (D11 column of ITR) and I have paid 145610(D12 column). Somehow I didn't notice the difference of 4 rupees but total tax payable column is also showing 0 . Do I need to file revised return for difference of 4 rupees.

Although, in ITR it is clearly showing there is no tax liability. please refer the screenshot and kindly suggest.

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4 Replies

Vaibhav Shendure (41 Points)
Replied 25 August 2021

To avoid difficulties in calculation of taxable amount and to facilitate ease of payment of tax liability, the Income Tax act provides provision of rounding off of taxable income as well final tax liability which is given under section 288A and 288B.

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J S BHAVSAR (CONSULTING) (1288 Points)
Replied 25 August 2021

Difference of tax amount upto Rs 100 -- no action is required. The department says the credit or due will get adjusted in the next year processing. How far this will stay true in new tax portal where nothing from previous years is organised, I doubt.

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Deepak Kumar (791 Points)
Replied 26 August 2021

No you have not required to file revised ITR because your tax liablity is round off under section 288b so that you tax liablity is showing is 145610 not 145614

1 Like