• Income tax relief

Sir,
I have filed my ITR 1 return. But it is yet to be e verified and submitted, now just kept saved.
During filing I Forget to deduct the LTC amount from the Income under head salaries. I haven't claimed LTC in the 4 year block.
Also I have paid self assessment tax Rs 14k.
Now if I deduct LTC amount I am getting a refund of around Rs 9k. 
If I do this claim shall income tax dept will ask queries, or will it lead to any problem later.
I am working in a PSU, I claim Professional devp in cafeteria allowance, I am pursuing higher education in part time,can I claim the tution, admission, exam fees as relief in Income tax. I haven't taken any education loan.
Asked 5 years ago in Income Tax

You can revise the return.

Regarding higher education deduction is allowed only when loan is taken

Vidya Jain
CA, Kolkata
1008 Answers
58 Consultations

4.8 on 5.0

Dear Sir,

If the claims are genuine then no need to worry and modify the original return if not submitted. If submitted then file the revised return.

Thanks

Vivek Kumar Arora
CA, Delhi
4825 Answers
1031 Consultations

5.0 on 5.0

Hi

you can N no of changes before filling it, that changes will not create any problem at All.

Further if you paid excess then you can claim as refund without any hurdle.

tuition fee for children is only eligible for deduction.

If you didn't avail any loan for higher education then you cant claim deduction.

Hope it will help.

Varun Chawla
CA, Ghaziabad
74 Answers
1 Consultation

5.0 on 5.0

Hi

Yes, you can include the LTC claim. However, such claim should be mentioned in your form 16. If its not in Form 16, its sure to receive a query for mismatch. Claim only if you have valid proofs of such claim.

No, such reliefs cannot be claimed in absence of any education loans.

Lakshita Bhandari
CA, Mumbai
5687 Answers
909 Consultations

5.0 on 5.0

There will be no issues if you haven't submitted your return yet. You can do as many changes as required before submitting. If there ia a refund, you shall get the same.

You need to have an educational loan to enable you to claim the same.

Please ley me know if you have any further clarifications.

Regards,

Nikhil

Nikhil Khanna
CA, Mumbai
1429 Answers
19 Consultations

4.8 on 5.0

Yes you can do so no issue

Vidya Jain
CA, Kolkata
1008 Answers
58 Consultations

4.8 on 5.0

Hi

Yes you can modify the return ,can take LTC benefit and claim refund for the same.Produce valid supporting documents in case of any departmental query..

Education loan is must for claiming tax relief for higher education expenses.

Hope it suffice

Swati Agrawal
CA, Mumbai
1146 Answers
7 Consultations

5.0 on 5.0

You can revised your ITR 1 & claim any genuine deduction which was missed . If IT dept ask in future If it is genuine then no problem as for correction there is revise ITR facility.

Nitin Jain
CA, Jaipur
214 Answers

4.7 on 5.0

Hi,

Hope you are doing well !

Yes you can modify the return whenever you want but only before submission.

Now, you can take the LTC and claim the refund provided you have valid documents.

For claiming higher education expense, education loan is compulsory.

Thanks & Regards,

Payal Chhajed

Payal Chhajed
CA, Mumbai
5188 Answers
288 Consultations

5.0 on 5.0

Dear Sir,

Yes, you can modify the original ITR because it is not yet submitted.

However you can not take the benefit of higher education expenses without educational loan.

Warm Regards,

Karishma Chhajer

Karishma Chhajer
CA, Jodhpur
2450 Answers
29 Consultations

5.0 on 5.0

Hi,

As you have not deducted LTC amount you can deduct it from salary and show it as exempt income.

The income tax may ask for proof of travel availed by you.. If you have travel tickets/boarding pass etc with you there is no reason to deny your claim.

As per section 80E only interest paid on education loan is allowed as deduction. Since you have not taken any education loan you cannot claim the expenses mentioned by you as relief.

Hope this resolves your queries!

Siddhant Shah
CA, Mumbai
120 Answers
1 Consultation

5.0 on 5.0

Hi,

If your employer gives you LTC, then you can claim it in your original ITR. There won't be any issue just because you have paid extra self assessment tax. However, if your employer is not showing LTC as a part of your compensation, then you can't claim it.

Further, you can claim releif of tution expenses..

Abhishek Dugar
CA, Mumbai
3576 Answers
183 Consultations

4.8 on 5.0

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