Question: My employer has not up to date my tax deduction and additionally it is not seen on kind 26AS or Form 16 supplied by the Department. When requested they’re saying it’s going to get up to date inside very shortly. I’ve filed ITR earlier than the due date however haven’t e verified it but. Do I must confirm the unique ITR first earlier than submitting the revised return? Or ought to I await kind 26AS to get up to date first after which file revised return by e verifying the unique ITR?
Answer: An individual who has filed his ITR (Income Tax Return) earlier than thirty first July can confirm his ITR inside a interval of 120 days after the date of submitting it. The verification can both be accomplished electronically by means of an OTP (One Time Password) or may also be accomplished by sending the ITR V to CPC (Central Processing Unit), Bengaluru.
An individual who has filed a sound ITR can in a while file a revised ITR earlier than thirty first December or earlier than his evaluation is made on his ITR. Processing of an ITR can be handled as an evaluation for restricted objective. A revised return filed replaces the unique return however dates again to unique return. One can even file a recent ITR after thirty first July however earlier than thirty first December however some penalties comply with.
If you file a revised ITR with out verifying the unique ITR, the identical will probably be handled as a recent ITR as a result of an ITR which isn’t verified as handled as having not been filed. So I’d advise you to attend for the main points of tax deduction to replicate within the earnings tax web site/24AS/AIS after which e-verify your unique ITR earlier than submitting the revised ITR.
Meanwhile carry on reminding your employer to file their TDS return in order that particulars of your tax deduction get mirrored.
Balwant Jain is a tax and funding knowledgeable and may be reached on [email protected] and @jainbalwant on Twitter.
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