Hi
I filled ITR through efiling facility, and submitted the same
But i wrongly entered the amount in 80C section.
I have invested around 2Lacs under this section, but i wrote only 1Lac. Do i need to re-file with correct declarations.
I saw an option available to re-file again online, but wanted to make sure, so i really need to do the same.
If Yes, then what should i make sure before i re-file.
Thanks
Varun
Hi
What is max deduction allowed u/s 80C?
So now you know that you are not required to revise ITR.
Thanks.
Hi
Yes, but i thought that we need to declare the amount that we invested, the excemption of one lac will be automatically take care off.
The ITRV should reflect the investment and amount being considered for deduction.
Hi
There is no harm in declaring less amount as long as your tax liability remains same, however you can revise your ITR if you have filed it in due time, but i suggest to refrain from doing so.
Thanks!!
Deduction Limit is 100000/- only........
Then why Problem.?
it does not matter
You don't need to revise the return, amount of Rs 1,00,000/- is ok.........
hi....
deduction u/s 80c is available only upto Rs. 1.00 lac for the A.Y. 14-15. Since u have invested Rs.2.00 lacs and shown Rs.1.00 lac in the IT return, therefore, it is correct to claim the amount of deduction. However, if u have shown Rs. 2.00 lacs instead of Rs.1.00 lac then also u are eligible to take the benefit of 1.00 lac deduction u/s 80c.
pls write for further clarification................!
CAclubindia
