I filed ITR 2 for my friend. His taxable income is zero. He had one TDS and one TCS entry as per the 26as. Both of them did not reflect in the Schedule Taxes Paid section while filing the return so we had to manually add them. The return got processed today and they have refunded the amount of TCS but have mentioned in the intimation letter that form 26as does not contain this amount. How is this possible?
We are unable to access the links you provided. However, if the TDS details match with the 26AS and the return filed, then you may raise a rectification request for reprocessing the return. This will ensure that all the arithmetic calculations are done again.
Thanks for replying. Are you unable to access all the links or only the last two one’s?
What is the difference between revision of return and rectification of return? Will raising a grievance or an appeal help here or only revision/rectification of return?
In a revised return, you can make changes to incomes, expenses, deductions, etc. However, in a rectification, you are not allowed to change your total incomes. In your case, all the entries seem to be correct. Therefore, you can move forward with rectification instead of a grievance or appeal.
Thank you Mam. Sorry for asking so many questions, this has happened for the first time and we don’t have any knowledge about this, hope you will understand.
In the IT portal the tax credit mismatch sections shows this
Please note that it does not have the name of the deductor. In the schedule taxes paid section also, there is only TAN number of the deductor and not its name. Can this somehow have caused this issue?
@CA_Jayni_Bhavsar As He has made a mistake in the TDS entry which is not AT/SAT, revise the return is the more appropriate way to rectify it? The deductor’s name should be added here in the ITR for the TDS entry.
Hey @tax007 Rectification request can be filed till 4 years from the end of the AY for which ITR is filed. Thus, I recommend you to file a revised ITR since due date for the same is 31.12.2024.
Yes, rectification request can be filed even after filing a revised return and your issue does not get solved after revised ITR gets processed.
The refund processed is less due to applicable deductions, such as fees or partial usage of the service/product. Please check the breakdown provided for more details.
@AkashJhaveri@NAB
The revised return has been processed, thank you to both of you. Two final questions, how much time after the intimation regarding the revised return processing does one receive the refund in bank?
Second, my friend’s net income is below the taxable slab so zero tax. He had 2 fd’s in a bank which he prematured. The interest on these prematured fd’s was around 2800/- This amount is mentioned in the interest certificate given by the bank. But this interest on prematured fd’s is not mentioned in the AIS/TIS, the interest from other active fd’s from same bank is there though. Anyways he manually added this amount in income from other sources section rather than in interest from fd section. As there was no tax so the return got processed. Is there any need to remove this amount from income from other sources section and add in fd section? Will there be any issues?
