Income Tax: Realised a mistake after IT return processed? This Section will help you rectify
A rectification request under section 154(1) is allowed by the Income Tax Department for correcting mistakes when there is an apparent mistake in your Income Tax Return.
Central Board of Direct Taxes on Tuesday in a statement said that individual income tax return filing jumped by 25% this time after the I-T department took steps after demonetisation against tax evaders.
The process to file Income Tax Return (ITR) for the financial year 2016-17 is over. Now, it is time for Income Tax Department to review it.
There are chances I-T department must have sent you a notice in case they find any error in your filing. As the process of ITR filing is complicated, a taxpayer making mistakes is not something to be worry about.
Archit Gupta,Founder and CEO Cleartax, said that once the income tax returns have been processed by the tax department, the taxpayer can make changes by filing a rectification request under Section 154(1).
A rectification request can be filed for Returns which are already processed in CPC, Bangalore.
The following errors can be rectified by filing this request:
- Factual errors like incorrect gender
- Arithmetic mistakes in tax computation
- Additional details of capital gains not submitted
"In case there is a change in the taxpayer’s income, then a rectification will not be enough. The income tax returns will have to be revised. For returns that have been e-filed online, a rectification request also has to be filed online by logging into the taxpayer’s account on the income tax department website," Gupta said.
Here's how to file a rectification request under section 154(1) online:
1. LOGIN to e-Filing application https://incometaxindiaefiling.gov.in/ and GO TO –> E- FILE –> Rectification.
2. Step 2 – Select the Assessment Year for which Rectification is to be e-Filed, enter Latest Communication Reference Number (as mentioned in the CPC Order). In case you have received more than 2 orders use the latest order number.
3. Click ‘Submit’.
4. Select the ‘Rectification Request type’
- Taxpayer Correcting Data for Tax Credit mismatch only
- Taxpayer is correcting the Data in Rectification
- No further Data Correction required. Reprocess the case
5. Click the ‘Submit’ button.
6. On successful submission, an Acknowledgment number is generated and sent for processing to CPC, Bangalore.
Post processing, the rectification order under Section 154 will be issued.
So, do not get panic if you receive any notice. Your mistakes can still be rectified. However, do not delay in submitting correct return.