Hearty Commendations for extending help to needy Dear Srikant Reddy Garu,
My Query is :
I have filed IT return but while filing return only 15G bank account details in 26AS was filled as I did not deposit any amount in my any SB Account amounting to Rs. 2 Lakhs or more.. but computation of tax liability was done correctly from all sources of income at the time of filing ITR ie.: Salary, from FD Interest Certificates obtained from Banks where I have FD + Savings Account , interest of which is credited into SB A/c.
I want to know ... Can I I add the missed Bank account details next time in my ITR when I file next year now that assessment is already done for my IT Return previously filed. Pls advise is there going to be any problems ?? What I should do now ? Petty amount of few hundred Rupees in sb accounts I may have missed while calculating total income previously ...
4 Answers
Hi,
Thank you for the compliment!
You mean to say that you did not declare / list out all of your Bank accounts in your ITR?
Yes Dear Srikanth ... did not declare / list out all of Savings Bank accounts in my ITR
will there be any complications next time when I file ITR and Can I add those missed SB Account Details next time when I file ITR, ? But the interest earned by Fixed Deposits are duly computed in ITR by obtaining Interest Certificates from Banks, just missed perhaps few hundred rupees which are possibly credits of interest on SB Account Balances which are not included in ITR, otherwise FD Interest is duly computed.. To be very clear in my explaining,, SB Accounts Details not included in ITR bcoz those were not readily available with me and pbooks were in my locker, and petty Interest amount earned on SB balance amounting to may be few hundred rupees missed out. I hope I am clear this time in explaining my problem. Thank U for your prompt response, I really appreciate you spare time to answer queries of worried and needy
Hi,
Ideally, the interest income on Savings accounts would have been accounted for....nevertheless it should not be an issue, as interest income of up to Rs 10,000 is tax deductible u/s 80TTA.
From next Assessment year onwards, advisable to include all types of income and file your ITR.
Suggested readings :
https://www.relakhs.com/income-tax-exemptions-fy-2017-18-list/
https://www.relakhs.com/misconceptions-on-tds-tax-deducted-at-source/
Yes, those details and also the interest income on SB accounts.
Kindly dont get worried too much.
As you have filed your ITR, in case the IT dept finds some discrepancies they will raise a notice thats it. Based on that you may agree or disagree to that notice, if you agree with their tax calculations, you may have just pay tax dues (if any) or revise/rectify your ITR. That's it!
Kindly dont get worried too much.
As you have filed your ITR, in case the IT dept finds some discrepancies they will raise a notice thats it. Based on that you may agree or disagree to that notice, if you agree with their tax calculations, you may have just pay tax dues (if any) or revise/rectify your ITR. That's it!
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