Disclose Correct TDS and Salary while filing Income Tax Return If TDS Greater than Salary: Dept Issues FAQ for Filing ITR

The Income tax department has uploaded a set of Frequently Asked Questions (FAQs) to tackle the issues while filing of income tax returns, wherein it was asked the taxpayers to disclose correct values of salary and TDS deducted and then file ITR if TDS is greater than salary.

“Please disclose the salary income under schedule salary, if TDS on salary income if claimed in return of income,” the FAQ said.

“TDS on salary cannot be more than salary income offered under schedule salary, Please enter the details appropriately as per form-16/26AS,” the FAQ said.

Regarding the ITR utility for A.Y 2022-23 option of only section 54B is available for previous year 2019-20 under head Deemed capital gain in schedule Capital gain, the department clarified that the time period for section 54B to utilize the capital gain is 2 years from the A.Y. in which the asset is sold than other sections 54 or 54F where it is 3 years. Hence, for filing return for A.Y. 2022-23, only section 54B is appearing under Deemed Capital in Schedule CG.

In relation to ITR-4, the taxpayer getting error 234A,B,C is calculating while filing the return for AY 2021-22. The FAQ said that “Please use latest offline utility available on portal and do a fresh return filing instead of resume filing by clearing history and cookies files from the browser and file your return. If issue persists kindly share the error screenshot, JSON file, PAN and contact details, for further assistance.”

To Read the full text of the Order CLICK HERE

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