How to file online rectification U/s 154 How to rectify online? Once logged in you can find “My Account”. Under “My Account” there is a tab called “Rectification Request” which will allow you to file your rectification online on submission of CPC Communication reference number which is mentioned in the intimation u/s 143(1). You have to select the assessment year for which you wanted to file rectification. Remember only cases where you have received intimation u/s 143(1) can be considered for online rectification as it requires reference number of those intimation automatically sent by CPC. Cases where no intimation received u/s 143(1), you may go to “Request for Intimation u/s 143(1)/154” and request for copy of intimations already sent (but lost or unable to retrieve etc). Upon request the system (CPC) will forward the copy of intimation u/s 143(1) directly to the registered e-mail address. It may take few days to get it. Upon receipt of the same you can proceed to rectify using the procedure given above. On providing valid Communication reference and date of order, you will be provided with a “Rectification Request Type”. There are three categories provided which will cover all the required corrections, they are namely:- Tax Payer is correcting data for tax credit mismatch only Tax Payer is correcting the data in rectification No further data correction required. Reprocess the case. A. When you select the category 1-“ Tax Payer is correcting data for tax credit mismatch only” the following will be displayed for correction TDS on Salary details – This is meant for providing information about your employer, TAN of employer, Income under the head salary and Tax deducted on it. You can enter details for more than on employer TDS on Other than Salary details This is meant for providing information about name of the deductor, TAN of the deductor, Tax deducted and TDS claimed for the year. You can enter details for more than one party. IT Details This is meant for providing correct information about your advance tax and self-assessment tax challan details. In many case Assessee used to enter wrong information or the banker would have updated with incorrect information. In these cases you can first visit your Form 26AS to find out exact details of tax credits and then try for rectification. Even a very small mistake will give big difference and you will get intimation to pay tax along with interest. The following details can be corrected under “IT Details”. a. BSR Code b. Date of Deposit c. Serial number d. Amount In this tab you can provide correct information to process your return further. B. When you select the category 2-“Tax Payer is correcting the data in rectification”, you have choose the options given for type of rectification required for you. The following are the list (for time being) for your reference:- 1) The tax payment had not matched as per the CPC Order 2) Income chargeable under the head business or profession has been wrongly considered 3) Requesting for cancellation of adjustment of earlier year(s) demand 4) Details of deductions (including sub-schedule 80G, 80IA, 80IB, 80IC etc.) under chapter VIA wrongly considered 5) Income chargeable under the head capital gain wrongly considered 6) Income chargeable under the income from house property wrongly considered 7) Salary income not matched 8) Income chargeable under the income from other sources wrongly considered 9) Brought forward losses have not been allowed OR partially allowed. 10) Current year losses have not been set off correctly 11) There is a variance in tax /Interest computation even though Total income remains the same 12) Profit before tax in Schedule BP has been wrongly considered 13) Requesting to tax to slab rates, as it is AOP as seen from schedule for partner’s information of the e-filed return of income 14) Gender of tax payer was wrongly considered. Gender updated in PAN database. 15) MAT/MATC have not been allowed OR partially allowed. 16) Requesting for reduction of tax rate as domestic company instead of non-domestic company. 17) Date of filing of the ORIGINAL RETURN taken as NOT WITHIN DUE DATE. 18) Requesting for reduced claim of income, as taxpayer is governed by Portguese civil code and that Sec 5A is applicable to them 19) Requesting for allowing the claim of deduction u/s 80P 20) Requesting for change of Residential status 21) Requesting that the income shown in the return is not taxable as the Assessee is a society registered u/s 12A OR Assessee is NON-RESIDENT. 22) Others. On selecting the appropriate item it will direct you as to what to do in each case. In most of the cases you need to upload the rectified xml file and wait for the rectification order. C. When you select the category 3-“No further data correction required. Reprocess the case.” you have to choose the options given for type of rectification required in this case. They are Tax Credit Mismatch Gender Mismatch Tax/Interest Computation Conclusion & Tips to avoid rectifications: The following measures will make tax payer’s and tax professional’s job easier. When you file income tax return just follow the under mentioned tips: Use correct ITR Form and fill it (duly) with correct data. Before filing return verify Form 26AS for TDS Credits, Advance Tax Credits and Self-Assessment Tax Credits so as to enter correct bank details or TDS details. In most of the cases tax credit mismatch is the issue. File the return in time. (Within due date) When you get intimation u/s 143(1), follow the instructions given under that and take remedial action in filing rectification request immediately when there is a mistake apparent on record or make payment within in 30 days of receipt of intimation if you agree to the demand raised. Very importantly remember “Haste makes waste”. Don’t do things in a hurry. Plan well advance minimize the data entry mistakes.
Posted on: Thu, 04 Jul 2013 04:46:48 +0000
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