Query: My employer has not up to date my tax deduction and it’s also not seen on kind 26AS or Type 16 offered by the Division. When requested they’re saying it’ll 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 have to 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?
Reply: An individual who has filed his ITR (Earnings 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 executed electronically by an OTP (One Time Password) or can be executed by sending the ITR V to CPC (Central Processing Unit), Bengaluru.
An individual who has filed a legitimate ITR can afterward 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 goal. A revised return filed replaces the unique return however dates again to unique return. One also can file a contemporary ITR after thirty first July however earlier than thirty first December however some penalties observe.
If you happen to file a revised ITR with out verifying the unique ITR, the identical might be handled as a contemporary 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 mirror within the revenue tax web site/24AS/AIS after which e-verify your unique ITR earlier than submitting the revised ITR.
In the meantime 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 skilled and could be reached on jainbalwant@gmail.com and @jainbalwant on Twitter.
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