• Further action on rectified IT return

I am a freelance web content writer working from home, receiving writing assignments from an online marketplace named as http://upwork.com. 

In the AY2017-18, I filed my return through ITR 4 form. 

It was a self-assessed return just like the previous years with two differences in which firstly, I did not engage any C.A. and secondly, filed it under section 139(4) and not 139(1) like previous years. 

Afterwards, the CPC, Bangalore took eight months to process it, whereas in previous years it achieved it in less than three weeks. 

Finally, the CPC, Bangalore, sought a revised return from I and claimed only the TDS (from an FD on a bank) as payable. And, leaving me literally shocked, refunded 99% of my self-assessed tax return. 

Therefore, right now, I am in a precarious state of financial health wherein my earning has declined by around 95% in comparison to previous years, according to this particular IT return. 

And, that is surely not the actual fact. 

Finally, despite submitting a 'Rectification request', the scenario still did not change, as the 'Rectification order under section 164' did not contain absolutely any change to the previous return. 

As such, I would like to know from you about any prospective way forward to further rectify this and reflect a proper state of my financial health by describing my actual earning on the IT return. 

This IT return has singlehandedly landed me in a deeply troubled water wherein my credit health has experienced a severely negative impact. 

Regards and Thanks in advance.
Asked 5 years ago in Income Tax

Your query is a bit confusing for me. From your query what I have understood is that you have filed ITR 4 under section 139(4) i.e. belated return.

"Finally, the CPC, Bangalore, sought a revised return from I and claimed only the TDS (from an FD on a bank) as payable. And, leaving me literally shocked, refunded 99% of my self-assessed tax return."

From this what I understand is that income tax department has accepted only your FD income and rejected your other incomes and refunded you the tax paid (that's strange because IT department never pays back money easily) and I guess you are upset because it's misrepresenting your actual income which in turn is affecting your credit limits and other things. Correct me if I am wrong.

Earlier you could repair this mistake just by submitting a revised return but now you can revise return only till end of assessment year. So now there is only one way to repair this mistake just file a rectification request again and upload the xml of your return properly by mentioning all your income.
This is the only way till the file is with CPC once it's with local officer you can go and have a chat with him.

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.
Thank you

Naman Maloo
CA, Jaipur
4272 Answers
97 Consultations

5.0 on 5.0

Your welcome.

If you want any further help feel free to contact me. I'll try to help.

Also you can mail me your intimation under section 143(1) I can go through that and check whats the problem.

 

Naman Maloo
CA, Jaipur
4272 Answers
97 Consultations

5.0 on 5.0

Hi.. kindly submit revised return through revise XML 

 

Vidya Jain
CA, Kolkata
1010 Answers
58 Consultations

4.8 on 5.0

Hi

 

This sounds extremely unusual. What do you mean by "CPC sought a revised Return..." Do you mean 143(1) intimation?

 

The only option left is to file a rectification request again.

 

We may be able to comment more only after review of the ITR form and intimation under section 143(1).

Lakshita Bhandari
CA, Mumbai
5687 Answers
910 Consultations

5.0 on 5.0

Hi,

 

Hope you are doing well !!

 

Now you should file rectification request again by selecting 'Return data correction (XML)'.

 

Thanks & Regards,

Payal Chhajed

 

 

 

 

Payal Chhajed
CA, Mumbai
5188 Answers
289 Consultations

5.0 on 5.0

Please share the copy of notice on below e-mail id for further assistance :

jpayal.51089@gmail

Payal Chhajed
CA, Mumbai
5188 Answers
289 Consultations

5.0 on 5.0

NOthing much can be done.  You again file a rectification request by uploading an XML with correct income. 

WHile the Tax department may take time to update, at least you have a taken all the available steps to give correct and accurate filing.  Hence, you not exposed to any consequences subsequently.  You need not worry once rectification is filed. 

Jasmina Jain Shah
CA, Greater Mumbai
454 Answers
4 Consultations

5.0 on 5.0

Hi,

- Either you can file revised return u/s 139(5) as belated return can be revised now. For A.Y. 2017-18, last date is 31.03.2019.

OR

- You need to rectify the return correctly. Don't select the option reprocess the return. Correct the xml and file it under return correction.

 

- You can share original retutn filed, notice u/s 143(1).

Thanks

Vivek Kumar Arora
CA, Delhi
4840 Answers
1037 Consultations

5.0 on 5.0

Please note that the last date to file revised return for AY 17-18 was 31st March 2018. It cannot be revised now.

Lakshita Bhandari
CA, Mumbai
5687 Answers
910 Consultations

5.0 on 5.0

Dear Sir,

 

You have only one option:

 

File rectification request again & submit the same by selecting 'Return data correction (XML)'.

Karishma Chhajer
CA, Jodhpur
2450 Answers
29 Consultations

5.0 on 5.0

You can file the revise return upto 31.03.2019. Please go through the amendments.

It is better to file the revise return if you are not confident for rectification of ITR.

 

Many CA's are not aware of this fact even in big metros.

Vivek Kumar Arora
CA, Delhi
4840 Answers
1037 Consultations

5.0 on 5.0

aroravivek1982@gmail

Vivek Kumar Arora
CA, Delhi
4840 Answers
1037 Consultations

5.0 on 5.0

Sure sir.

Naman Maloo
CA, Jaipur
4272 Answers
97 Consultations

5.0 on 5.0

Welcome!!

Payal Chhajed
CA, Mumbai
5188 Answers
289 Consultations

5.0 on 5.0

Yes. You'll have to contact individually. There's no such option on the website. You may contact any of us.

Lakshita Bhandari
CA, Mumbai
5687 Answers
910 Consultations

5.0 on 5.0

Dear Sir,

 

Yes, you can e-mail any of us. 

 

My mail id-karishmapc1993@gmail.

 

Karishma Chhajer
CA, Jodhpur
2450 Answers
29 Consultations

5.0 on 5.0

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