Haridasan Embran (PS) 09 September 2013

Deduction under 80tta

In Form-16 issued by my employer, under 'Any other income reported by the employee', it has mentioned the net figure of (Interest on Savings Bank Account - Loss from House Property). While e-filing the return, I had included the Interest Amount under 'Income from Salary' and shown loss from house property separately in the relevant column of the return. Also claimed deduction under 80TTA. However, while issuing intimation u/s 143(1) of IT Act, the assessing officer has not considered the deduction under 80TTA and therefore an amount of Rs.840/- is mentioned as net amount of tax payable. Please advise me in detail: How can I get it corrected from CPC?

Thanks

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4 Replies

ABHINAV (STUDENT) 09 September 2013

Interest should be included in other sources. Rectification is required. Take professional help

Ashwani Joshi (Advocate) 10 September 2013

You have not mentioned assessment year or date of filing of return. If an year has not elapsed since you filed your return, you can file a revised return, showing interest on Savings bank account under the Head 'Income from other Sources". Hopefully, it will be corrected.

Haridasan Embran (PS) 11 September 2013

The e-return was pertaining to Assessment Year 2013-2014 and the date of e-filing the return was 20/07/2013. Please advise me whether I have to submit a REVISED E-RETURN or I have to go for e-filing a RECTIFICATION REQUEST and also give detailed instructions in the matter to rectify the aforesaid defect. Thanks in advance

Ashwani Joshi (Advocate) 11 September 2013

Pl revise return . That is the only way. Rectification is possible only where some fact primarily on record lost sight.THE FACT That your Form 16 includes interest was never available to the AO so he will not rectify.