ZenIT || How to File Rectification Under Section 154(1)
How to File Rectification Under Section 154(1)
Once you have filed an income tax return, the income tax department processes the return and issues an intimation. This intimation provides information about the return you submitted and the figures recorded by the department.
If a discrepancy arises, such as a demand for additional tax or a higher refund than what you initially claimed, you can take the following steps:
1) File a Rectification Request:
2) Agree with the Demand and Pay the Tax:
What errors can be corrected by filing a rectification?
A rectification request under section 154(1) is permitted by the income tax department to address mistakes when there is an evident error in your Income Tax Return. The following types of errors can be rectified by filing a rectification request:
1) An error of Fact.
2) Arithmetic Mistake.
3) Small Clerical Error.
4) Error Due to Overlooking Compulsory Provisions of Law.
Please note that you can submit a rectified JSON only for activities mentioned below:
1) To correct email ID or mobile number or address.
2) Correct the TAN or assessment year, challan number or BSR code in ‘Schedule TDS’ or ‘Taxes Paid’.
3) To correct the bank account number or IFS code in bank details.
4) Correct any other detail in the return that does not result in a change in the gross total income or total income or result in an excess refund claim when compared with the return already submitted.
You cannot submit a rectification return for the following activities:1) To report Chapter VI deductions which were left out in the return already filed.
2) To claim loss in the rectification return which was missed out in the already filed return.
3) You cannot claim additional TDS credit or claim a missed out tax payment challan and claim the tax credit/refund.
To file a rectification return, there are two scenarios in Software:
1) In the case of filing rectification after submitting the original return.
2) And filing rectification after submitting the original return and revised return.
1: In the case of filing rectification after submitting the original return:
Step 1:
Go to Transaction >> Filing Information:
Step 2:
Click on Filing Status >> Select Revised return >> And fill in the details of the original ITR (Income Tax Return) that was filed and then Click on "Save" Button:
Step 3:
Generate Computation and then Generate the JSON/XML file then Upload on Income tax Portal:
2: Filing rectification after submitting the original return and revised return.
Step 1:
Go to Transaction >> Filing Information:
Step 2:
Click on Filing Status >> Select Revised return >> And fill in the details of the original ITR (Income Tax Return) that was filed:
Step 3:
Generate Computation and then Generate the JSON/XML file then Upload on Income tax Portal:
Remember, when uploading rectification after filing the original return and revised return, select the 'Revised' option in the software. Then, upload the JSON/XML file under the Rectification Head on the Income Tax Portal.
A rectification request can only be made for returns that have been processed at the CPC, Bangalore. If, while correcting a 'mistake,' there's a change in income, filing a rectification is not suitable. Additionally, no new deductions or exemptions are allowed to be claimed in such cases. If there's a need to adjust the reported income, it's recommended to file a Revised Income Tax Return instead.
Hope This Helps.
Related Articles
ZenIT || ITR-U Rectification process
What is the ITR-U and How to File: Go to The Process: Click Here For Filing the ITR-U Case 1: User filed the original return and then filed ITR U or wants to submit Rectification. Case 2: User filed only ITR U and then submitting Rectification. ...ZenIT || How to File Form 10IEA
Form 10IEA : Meaning and Benefits of Form 10IEA: The Budget 2023 proposed to make the new tax regime the default, with a new Form 10-IEA introduced to allow taxpayers to opt for the old regime if they prefer. This form must be filed before the due ...Income Tax || How to File Response notice u/s 148
Response notice u/s 148 Section 148 of the Income Tax Act outlines the procedure for issuing a notice when income has escaped assessment. Here's a simplified breakdown: Issue of Notice for Escaped Income Assessment - Section 148: Notice Requirement: ...ExpressITR || JSON File Import Process
JSON File Import Process in Express ITR Follow these steps to import a JSON file for a client in Express ITR: Step 1: Access the Import JSON Option Open the relevant client profile in Express ITR. Go to the ITR Summary section and click on the Import ...TDS || Process for Form 27D File download
Form 27D is the certificate of collection of tax at source under sub-section (5) of section 206C to be furnished by the collector. Form 27D File Request Process: Open e-TDS Software: Launch the e-TDS software and go to "Master" → "Submitted Return" ...