It is common to make clerical mistakes when you are e-filing your IT returns. Reasons may be you are totally new to the process or you dont know the way of creating XML file which need to be uploaded to the IT website. Recent ruling clarify that you can rectify such type of errors under Sec.154.
In this case, the assessee filed e-return which was revised by filing another e-return on 5.1.2009. The assessee received intimation u/s. 143(1) of the Act and found that the income assessed and the rate of tax is different from the income returned and the taxes paid by him. The assessee immediately moved an application u/s. 154 of the Act before the AO. It was again pointed out that the tax has been calculated at normal rate on entire income ignoring the fact that the assessee has shown Short term Capital gain which should have been taxed at special rate as applicable on Short Term Capital gain.
The AO rejected the application u/s. 154 of the Act holding that the assessee has not shown Short Term Capital Gain u/s. 111A at S. No. A7 of Schedule CG appearing on page 19 of the e-return. The AO further observed that the same mistake has been occurred in the original as well as in the revised return of income filed by the assessee. According to the AO, the proper remedy was by filing a revised return of income instead of moving an application u/s. 154 of the Act. The AO accordingly rejected the application u/s. 154 of the Act. But it actually happened such that, during revised filing STCG was shown but due to clerical error it was missed in amount column.
For the above reason during the judgement tribunal found these points and ordered as can be rectified u/s 154.
1) In the present system of e-filing of return which is totally depended upon the usage of software, It is possible that some clerical errors may occur at the time of entering the data in the electronic form.
2) The return is prepared electronically which is converted into an XML file either through the free down loaded software provided by the CBDT or by the softwares available in the market. In either of the case, there is every possibility of entering incorrect data without having the expert knowledge of preparing an XML file.
3) XML file so created is uploaded to the official website. Once the return is uploaded ITR-V , which is the acknowledgement of the return so filed , is generated by the system itself and if , the return is not signed digitally, then ITR-V so generated has to be signed and sent to CentralProcessing Centre, Bangluru within 120 days.
4) Keeping in mind this system of e-filing of the returns, it is clear that assessee had claimed STCG and had shown it in e-return but the same figure did not appear under the item where the STCG is to be taxed at special rate under Section 111A of the Act.
5) However, under ‘Schedule SI-income chargeable to income tax at special rates’, the assessee had shown 10% tax on STCG, which clearly establishes that the assessee had shown STCG liable to be taxed at special rate of 10%.
6) Accordingly, reversing the finding of the Ld. CIT(A), we direct the AO to allow credit of the Short Term Capital gains subject to special rate of tax as per provisions of Sec. 111A of the Act and rectify the intimation u/s. 143(1) accordingly.
Hope this may give some relief to a lot.
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Corporate Assessee filed return for AY 2014-15 in within due date.
Committed the following errors:
TDS in 26AS is 10 lakh. TDS shown in return 15 lakh.
Self Assessment Tax paid in April 2014, 12 lakh reflected in 26AS but erroneously mentioned in the return as 6 lakh.
Taken up as limited scrutiny.
Assessment order passed in August 2016.
Directed to pay interest u/s 234 and tax shortfall.
Paid 234 interest and again paid 6 lakh towards self assessment tax.
Realised the error of double payment of self assessment tax in Jan 2017.
Any scope for rectification and refund.
Dev-Without knowing complete details I can't comment anything. Better you be in touch with any expert of your area.
Please State the case laws for aforesaid article
Binod-I am unable to understand your question.
Sir for correction of transmission of data in IT Return in respect of Filling of Asset & Liabilities detail there is mistake in transmission of Data in IT Return said mistake not in knowledge as the IT Return data was not checked and on that basis addition was made, so to rectify the aforesaid data rectification petition moved but rejected by IT Department, So my query is Deceision of Income Tax Appellate Tribunal or High Court deceision if any which directed that Wrong or inaccurate data transmitted can be rectified u/s.154 of IT Act, In your article you state that Tribunal directs to rectify, So I wll be grateful if you can forward me said judgement copy or Give the Citation of Said IT AT Order.
Binod-Please search in their portal.
Sir in Portal I did not get the case Laws if readily available with you please let me know i will be grateful to you
Binod-I am bit lazy too.
IHAVE FILED IT RETURN FOR THE A.Y 2015-16 ON 09.11.2016 A BELATED RETURN (MAYBE) AFTER E VERIFYING I FOUND THAT I ENTERED WRONG AMOUNT AND ALSO IN WRONG HEAD AND AFTER 7 DAYS MY RETURN WAS PROCESSED AT CPC AND IGOT INTIMATION U/S 143 NOW DUE TO IT IS A BELATED RETURN I CAN NOT FILE A REVISED RETURN ?
SO HOW CAN I RECTIFY MY WHOLE RETUN WHICH IS A BELATED RETUN
I ENTERED INCONE IN HEAD EXEMPT INCOME WHICH IS SALARY INCOME
Prashant-If it is belated return, then you can't revise it.
Dear sir,
Very good article. please mentioned case laws for benefit of all
With Regards
While submitting it return I entered tax details in advance tax instead of TDs.my income from salary only. How to submit revised return
Jibin-Contact your nearest tax expert. They may guide you. I can't explain all procedure in comment section.
Dear Basavaraj Sir,
Yesterday I have received INTIMATION U/S 143(1) OF THE INCOME TAX ACT, for the ITR-1 I had filled for the Assessment year 2013-14. The net amount payable is RS 7,390/-. However, when I checked in detail, I found that I had chosen a wrong assessment year while filing the ITR.
Instead of choosing the 2014-15 as a assessment year, mistakenly I chose 2013-14 and filed the ITR, because of which there is a difference in the TDS calculted.
So I request you to guide me to rectify this problem at the earliest.
Thanks in advance.
Lingaraj
Same Problem me got.. Did you got rectified and cleared your demand? when i applied for rectification, after 3 months i got mail saying demand is not cleared.. now i have applied for rectification again.. can you tell me whether you got cleared with your demand? is that possible to get cleared with demand or not?
Hi Sir,
I have not entered the CIN (Self assessment tax paid ) details in the e-tax filing. and submitted the same. Is there any way of rectifying the same.
Rhea-It is better to revise and mention the CIN details.
Hi,
For FY 2012-13, I have declared Capital Gains Tax exempt, but I had mentioned wrong value as I had forgot to subtract the cost of acquisition from the sale consideration. Further the Capital Gains Account I opened to put the capital gains money, I have put the full sale consideration amount. This is from selling of shares and not house property.
Is it possible for me to rectify it to the correct amount in my IT returns. What complications can arise when I try to close my Capital Gains Account, as it required accessing officers signature of approval.
Lalit-Yes, you have to modify.
Sir,
i have entered mistake in my mail and in a/c no. what can i do?
Vikrant-Please rectify it.
There should be only the name of the department but I filled DDO name with the dapertment name. Is it wrong if yes plz tell what should I do.