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Urgent Query: Revised Return for A.Y. 2020-21

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Prabal Kumar Biswas

Tax Payer

33 Points Posted on 22 October 2021

I have filed ITR-2 for the A.Y. 2020-21 in November 2020.

I have received intimation under Sec 143(1) for the A.Y. 2020-21 today (22/10/2021) after a huge delay.

In the intimation, it is observed that CPC has rejected my claimed Loss from House Property of Rs.2 lakh (for home loan interest on self occupied flat).

They have raised a tax demand of Rs 80k (along with penalty) which is absolutely incorrect as I have a Home Loan and my claim was genuine.

On going through my Return, it is observed that I have made a mistake while claiming the Loss from House Property in ITR 2. I have mistakenly put the amount (Rs.2 Lakh) of Home Loan Interest in a wrong field (Pass through Loss).

What should I do now? I am absolutely clueless as I am unable to file revised return for A.Y. 2020-21. How do I correct it?

Kindly suggest.

Replies (3)

Quick Summary

A taxpayer filed ITR-2 for A.Y. 2020-21 and received a tax demand due to an incorrect claim of House Property Loss. The loss was mistakenly entered in the 'Pass through Loss' field instead of the correct one. The taxpayer is seeking advice on how to file a revised return for this assessment year, as both filing a revised return and a rectification request under Section 154 are proving problematic due to technical errors.