(Sanitised) Playlist- Rectification of Income tax returns- A practical perspective Playlist Link - https://youtube/playlist?list=PL_16BSQMjAHOeI56vFeuVUr1hibBr_68x Narration - By Amlan Dutta Many tax payers find rectification process a bit tough . in such a scenario, i thought i will do a separate playlist which covers all live case so that this part becomes commonplace for all Let the previous year ( financial year of whose income is being considered for taxation ) be 2013 14 . This is a live case and my case . I truly had income from salary and FD interest . My salary income was 9.54 lacs and bank FD interest income was 61622 rs Bank had not deducted TDS because i had wrongly furnished form 15 G ...while uploading return i saw my return computed tax payable for 17000 Rs but still uploaded it like that ...worst part was i uploaded this belated return under section 139(4) ...so i cannot now revise it under section 139(5) Few days later when people tell me that i had done wrong by not paying self assessmenttax , i used challan 280 to pay that much self assessment tax , but now i need to show those details which would be very easy to show in revised return but i can;t do that anymore So how to revise it ? So , once i get the intimation assessment under section 143(1) i validate the intimation which means i am rectifying the intimation which is passed against the return that i had originally filed Here then i get to rectify between taxpayer filed information and taxpayer filed tax credit Obviously i need to select tax credit to take credit of the self assessment tax paid ! I select taxpayer credit and select all entries for salary TDS , non saklary TDS and IT paid against self assessment /advance and fill in this entries ( salary TDS and self assessment tax paid ) to avail correctly the tax credit Then i upload the rectification request ! Aur kya pad rahey ho ! Ho gaya khatam ---Khush Now share knowledge ! Peace , Amlan Dutta Hopefully this short playlist will remove any fears that anyone may have for rectifying their income tax returns All the best ! Peace , Amlan Dutta
Posted on: Fri, 26 Dec 2014 16:19:11 +0000
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