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 6 years ago in Income Tax
Your understanding is precise about my problem. Yes, it is indeed strange and has left me rather speechless and clueless, as well.
As mentioned, even after submitting the rectification request, nothing significantly different came out except a further claim of few thousand rupees. However, nowhere around it reflects any correction of the fallacy it contained within in processing my actual income.
Finally, thanks for your input while advising me that you have. Last time I submitted the 'Rectification request' by selecting only 'Only reprocess the claim'. This time as advised by you, I shall submit the request by selecting 'Return data correction (XML)'.
Thanks and regards.
Asked 6 years ago
Okay ladies and gentleman, thanks for your effort in offering me an affirmative resolution. Seemingly, things are falling in shape, now.
As advised by most of you, I would file the return under 'Return data correction (XML)'.
However, I need to reiterate that XML, which I originally filed has absolutely nothing to rectify. The data remain the same, which I originally filed.
Secondly, some of you also requested to share the original IT Return as also the 'Notice u/s 143(1)'. Regarding this, please shed some light on how I can achieve this. Shall I have to do this individually by sharing these with you through eMail?
Dear Naman and Vivek, could you please share your eMail addresses?
Thanks and regards to all of you.
Asked 6 years ago